[Epoch Times November 13, 2021](Epoch Times reporter Liu Yi comprehensive report) Continental Keming Food Co., Ltd. issued a price increase announcement on November 13, and will implement the new price policy from December 1, 2021 . However, the specific price adjustment plan has not been announced. The news appeared on Baidu’s hot search on the 13th.
According to the company’s announcement, in view of the continuous increase in the costs of flour, packaging materials, transportation, etc., the company decided after research and careful consideration to increase the prices of the company’s products. The company will implement the new prices on December 1, 2021. policy.
But the announcement did not mention the price increase. The company’s main products are noodles, flour, convenience foods, etc.
According to Keming Food’s third-quarter 2021 financial report released on October 22, its revenue in the first three quarters was 3.08 billion yuan (RMB, the same below), a year-on-year increase of 5.61%; net profit attributable to shareholders of listed companies was 75,755,600 Yuan, a year-on-year decrease of 73.75%. Among them, the third quarter achieved revenue of 1.029 billion yuan, an increase of 5.23% year-on-year, and realized a net profit of 32.635 million yuan, a year-on-year decrease of 50.57%.
After Keming Food announced the price increase, it caused heated discussions among netizens.
The netizen “Haikelunshi” said: “I can’t afford to eat noodles when I turn off the lights.”
Netizens in Nantong, Jiangsu’s “Tan Article” said: “The price increase is not unexpected. The price of vegetables has risen. I am afraid that others will have to follow suit.”
Liaoning’s “Messi’s open life” said: “The increase in the price of flour affects everyone.”
Netizens in Shenyang, Liaoning, “Happy HOU” complained: “After a few days, the consumption has gone up.”
The Guangzhou netizen “octopus cat ocat” is looking forward to when the salary will be increased: “When will the salary be increased.” “My five-five-five” also said: “They are all quietly increasing prices, so the salary will not increase.”
Recently, the mainland has announced price increases for mass consumer goods such as soy sauce, melon seeds, paper towels, edible salt, vinegar, soy milk, and quick-frozen food.
On October 12, the soy sauce leader Haitian Weiye took the lead in announcing price increases, and then many public consumer goods listed companies announced price increases, including Haitian Weiye, Hengshun Vinegar, Xuetian Salt, Jiajia Food, Qiaqia Food, and Anjing Food, Jiahe Foods, Zhongshun Jierou and many other leading listed companies in the industry cover multiple sub-sectors such as condiments, quick-frozen foods, leisure snacks, beverages, and tissues.
When explaining the reasons for the price increase, these brands all admitted that it was driven by rising costs.
“China Fund News” stated on November 13 that rising prices of consumer goods indicate that inflationary pressures are being transmitted from the production sector to the consumption sector.
The report quoted the analysis of brokerage firms as saying that the current price increase window for the food and beverage industry has been fully opened. Since the beginning of this year, Lin Yuan, a private equity boss, has continued to increase its storage of the leading edible oil brand Arowana, even if it is covered. The logic behind the market interpretation is that the price increase of gambling products brings huge profit flexibility.
Editor in charge: Lin Yan
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