Reporter Meng Ke
In the first three trading days of 2022, four listed companies, including Ligao Food, Xiangpiaopiao, Hairong Technology, and Jinpu Titanium, have disclosed some product price adjustment announcements.
The reporter noticed that on the two platforms of Shenzhen Stock Exchange and Shanghai Stock Exchange, many investors recently asked about topics such as "whether the company's product prices will be adjusted accordingly with the increase in raw material prices".
Listed companies including Vantage Shares and Jingxin Pharmaceuticals all responded, stating that they "will adjust market strategies and product structure and prices in a timely manner" and "including appropriate price increases."
Zhou Maohua, a macro researcher at the Financial Markets Department of Everbright Bank, told a reporter from the Securities Daily that some listed companies raised their product prices, mainly driven by rising production costs and the recovery of domestic demand.
On the one hand, the spread of the global epidemic has impacted the supply chain and the United States and the United States have implemented unprecedented scale stimulus policies for a long time. This has led to the increase in the prices of some energy and industrial raw materials, and the increase in input costs such as labor and shipping costs.
On the other hand, from the financial reports of related listed companies, the steady recovery of domestic demand is also one of the factors that prompted listed companies to increase product prices.
Judging from the company's product price adjustments disclosed above, the highest increase reached 8%.
Two company announcements clearly mentioned that they decided to increase the price of major products due to the continuous increase in cost prices of major raw materials and energy.
"These listed companies have adjusted their prices to a certain extent to release some signals that the input cost pressure of upstream raw materials and other domestic materials is transmitted to the terminal. It is necessary to be vigilant against imported inflation pressures. But so far, the proportion of companies raising product prices is not high." Zhou Maohua said.
Zhao Yayun, a researcher at the CITIC Reform and Development Research Foundation, said in an interview with a reporter from the Securities Daily that the price increase of the four listed companies is a signal.
Due to the uncertainty of demand, different industries and different products will have greater differentiation in price increases.
Machinery, electric power, and real estate-related industries will be relatively conservative and cautious in raising prices, while food, beverages, and pharmaceuticals will raise prices sooner and faster.
It can be seen that among the 4 listed companies that have announced some product price adjustment announcements, there are 3 listed companies in the food and beverage industry.
Talking about the impact of price increases on the food and beverage industry and the consumer sector, Zhou Maohua believes that in general, companies are more cautious in raising prices. In addition to considering costs and profits, they also need to consider market share.
In the fierce competition in the industry, especially in the more "homogeneous" consumer goods market, it is necessary to avoid losing market share due to price increases.
Zhou Maohua said that the current number of listed companies that adjust prices is relatively small, and there are not many companies that have strong market bargaining power and "dare" to adjust prices. It is expected that there will be no overall price increase in the future.
The Central Economic Work Conference held a few days ago pointed out that while fully affirming the achievements, we must see that my country’s economic development is facing the triple pressure of demand shrinking, supply shocks, and weakening expectations.
Industry insiders believe that in terms of supply shocks, the soaring prices of some commodities have had an impact on the profitability of mid- and downstream manufacturing companies.
The next step should be to ensure basic supply from the perspective of the supply chain and reduce business costs.
The National Development and Reform Working Conference made clear when studying and deploying the key tasks of development and reform in 2022. While effectively expanding consumption, promoting investment, and supporting the real economy, it will also focus on the security and stability of energy, food, and industrial supply chains.
Zhou Maohua said that in response to the current problems facing the supply chain of the industrial chain, one is to implement detailed policies and measures to relieve enterprises and reduce their comprehensive financing costs; the other is to smooth the supply chain and shipping logistics system; and the third is to encourage enterprise transformation. Upgrade, release the innovation vitality of micro-subjects, and support the development of new models and new business forms.
(Securities Daily)