Net profit plunged nearly 50%, Yunnan Baiyao cancelled annual incentives for senior executives, and securities investment lost nearly 2 billion yuan

2022-06-14 0 By

On the evening of March 25, Yunnan Baiyao disclosed its fourth quarter and annual report for 2021.During the reporting period, the company achieved operating revenue of 36.374 billion yuan, up 11.09% year on year;Net profit attributable to shareholders of listed companies was 2.804 billion yuan, down 49.17% year-on-year.Affected by the decline in net profit, Yunnan Baiyao said Dong Jiangao’s 2021 short-term incentive plan and 2021 incentive fund withdrawal will not be implemented.In terms of products, industrial products (homemade) will reach 12.7 billion yuan in 2021, with a year-on-year growth of 8.42%;Wholesale and retail sales grew 12.43 percent year on year to 23.5 billion yuan, accounting for more than 60 percent of the revenue, with agricultural products seeing the biggest year-on-year growth of 165 percent to 997,000 yuan.According to the results, Yunnan Baiyao disposed of part of its equity instrument investment in 2021, and the proportion of its tradable financial assets fell 11.23% to 4.72 billion yuan.As of December 31, 2021, the accumulated change in fair value of securities investment was a loss of 1.981 billion yuan.At the close, Yunnan Baiyao fell 0.9 percent to 81.06 yuan per share, with a total market value of 103.97 billion yuan.(Article | Tianyu of Business World)