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Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82
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  华尔街见闻

  在可乐市场份额下滑的同时,百事可乐在如今的贸易战中又处于不利于地位。

  据华尔街日报报道,问题的核心在于百事可乐和可口可乐生产其秘方浓缩糖浆的地点存在差异。

  百事可乐50多年前就开始在爱尔兰生产浓缩糖浆,选址理由是爱尔兰的低企业税率。

  现在,这个旨在节税的举措却适得其反,供应美国市场的百事可乐浓缩糖浆,几乎全部需要缴纳10%的关税。

  可口可乐几十年来也在爱尔兰生产浓缩糖浆,并将其运往全球各地市场。但关键区别在于,可口可乐为美国市场生产的浓缩糖浆主要来自佐治亚州亚特兰大和美国领土波多黎各。这意味着可口可乐和雪碧等饮料受关税影响较小。

  汇丰银行分析师CarlosLaboy指出,没人能预见关税的出现,也不清楚关税会持续多久,但毫无疑问,百事可乐现在处于不利地位。

  报道指出,对于百事可乐来说,贸易战来得尤其不是时候。过去二十年,百事可乐在美国市场的份额一路下滑,去年更是跌至新低,DrPepper取代百事可乐成为美国第二大汽水品牌。在多年专注于食品和能量饮料后,百事可乐现在正试图重振其美国汽水销售。新关税可能使这一任务变得更加艰难。

  多行业面临贸易战考验

  贸易战的影响远不止饮料行业。

  在牛仔裤领域,LeviStrauss从许多现在受10%关税影响的国家采购原料。而Wrangler的母公司则在西半球生产其40%的牛仔裤和其他裤装,包括在墨西哥的七家工厂。

  Wrangler在墨西哥生产的产品符合美墨加贸易协定,因此目前免于特朗普今年早些时候对墨西哥进口商品征收的25%关税。

  升级的关税战还可能波及牙膏制造商。美国消费的佳洁士牙膏大部分在国内生产,而高露洁则在墨西哥生产部分销往美国的牙膏。

  风险提示及免责条款

  市场有风险,投资需谨慎。本文不构成个人投资建议,也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资,责任自负。

  来源/梧桐树下V

  文/西风

  4月21日,深圳市智立方自动化设备股份有限公司(301312)发布《关于部分募投项目延期的公告》。这已是智立方2022年7月11日上市以来的第二次延期。公司IPO时原拟募资6.0044亿元,实际募资净额6.674亿,超募0.67亿元。公司同日公布2024年年报,扣非净利润3445万元,同比下降32.32%,而2023年已同比下降52.87%。2024年的扣非净利润只是公司上市前2021年度扣非净利润1.1175亿元的30.83%。因此该公司属于“IPO超募+上市后业绩大幅下降+募投项目两次延期”。

  一、IPO超募6695万元

  公司是一家专注于工业自动化设备的研发、生产、销售及相关技术服务的高新技术企业,为下游客户智能制造系统、精益和自动化生产体系提供定制化专业解决方案,产品包括工业自动化设备、自动化设备配件及相关技术服务。

  根据公司招股说明书,公司IPO拟募资6.0044亿元,除1.8亿元用于补充流动资金外,其余资金全部用于自动化设备产能提升项目、研发中心升级项目。

  公司IPO发行股份1023.5691万股,发行价格72.33元/股,募集资金74034.753万元,发行费用7294.84万元,募资净额66739.913万元,超募6695.513万元。

  二、上市不到3年,两次延期募投项目

  公司IPO募集资金于2022年7月5日划至公司指定账户,2022年8月16日公司董事会决定利用募集资金置换预先投入募投项目自筹资金762.69万元。

  2024年4月24日,公司发布《关于部分募投项目延期的公告》。将自动化设备产能提升项目预定可使用状态日期从2024年7月调整到2025年7月。

  公告还披露了截至2023年12月31日,自动化设备产能提升项目、研发中心升级项目实际投入金额分别为5370.04万元、6090.81万元,项目投资完成率分别为19.63%、41.47%。

  单位:万元

  2025年4月21日,公司发布《关于部分募投项目延期的公告》。公告称:公司基于审慎性原则,结合当前募投项目实际进展情况,在募投项目实施主体、募集资金用途及投资项目规模不发生变更的情况下,拟对部分募投项目达到预定可使用状态日期进行调整。两个项目调整前达到预定可使用状态日期为2025年7月,调整后延期到2027年7月,延期了整整2年。

  公告披露延期的原因为:公司董事会和管理层积极推进项目建设的相关工作,结合实际需要,审慎规划募集资金的使用,但在公司募投项目实际投入过程中,因受到外部宏观环境、行业内部环境变化及整体工程进度不及预期等因素的影响,公司的募投项目实施进度放缓,预计无法在计划的时间内完成建设。为了降低募集资金的投资风险,提升募集资金使用效率,保证募集资金合理运用,公司根据募投项目当前的实际建设进度,经过谨慎研究,决定将上述募投项目达到预定可使用状态日期进行调整。

  截至2024年12月31日,自动化设备产能提升项目、研发中心升级项目累计已投入金额分别为19116.44万元,9691.19万元,投资完成率分别为69.88%、65.98%。

  单位:万元

  三、上市前业绩持续增长,上市后业绩持续下降

  公司2022年7月11日上市,公司招股书披露的报告期为2019年、2020年、2021年,公司实现营业收入分别为28208万元、35345万元、54852万元,扣非归母净利润分别为8842万元、9584万元、11175万元,营收和净利润都是持续增长。

  遗憾的是,上市当年营业收入、净利润就同比双双下降了。2022年,公司实现营业收入50820万元,扣非归母净利润10799万元,同比分别下降7.35%、3.37%。2023年实现营业收入42739万元、扣非归母净利润5090万元,同比分别下降15.90%、52.87%,加速下降。2024年,公司实现营业收入55461万元,同比增长29.77%,扣非归母净利润3445万元,同比下降32.32%。这样2024年扣非归母净利润只有公司上市前一年(2021年)的30.83%。

  还好,2025年一季度营收、净利润同比双双增长了!

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