20240531_海通证券_农林牧渔行业2023年及2024Q1财报综述：困境已过反转向上_18页.pdf
Table_MainInfo/2024 05 31 Table_InvestInfo Table_QuoteInfo-17.99%-12.83%-7.66%-2.50%2.66%7.82%2023/6 2023/9 2023/12 2024/3 Table_ReportInfo 2024.05.27 2024.05.20 2024.05.15 Table_AuthorInfo:Tel:(010)58067998 Email:S0850517120001:Tel:(021)23183965 Email:S0850523040003:Tel:(021)23185702 Email:S0850522110002:Tel:(021)23183965 Email:2023 2024Q1 Table_Summary 23 24Q1 23 1.7+19.5%23.7%20 23 2.0+21%27.65%24Q1 18+7.5%7 10 10%23 23 141 319 24Q1 60 23 24Q1 23 23 402-14.1%344.8-23.7%241.9-12.4%23+6.6%23+11.7%0.4%10%1pct 23 Q1 23 4 24 23 24Q1 23Q2-Q3 24Q1 24Q1 23 24Q1 23 24Q1 23 24Q1 23 24Q1 23 24Q1 24 3802 2 1.23.5 1.1 23.5 1.2 23.6 1.3.7 2.8 3.11 4.24Q1.12 5.14 6.24Q1.15 7.17 0YEVwPsPmPnMoQtQrMrOqR7NdNbRsQqQtRtPlOrRtOfQpMqRbRoPoONZpOvNwMoMsM 3 1 23.5 2.5 3 24Q1.6 4 23.6 5 23.6 6.6 7.7 8.7 9 23.7 10 23.7 11 23.8 12 23.8 13.8 14.9 15 23.9 16 23.9 17 23.10 18 23.10 19 23.10 20 23.10 21 23.10 22 23.11 23 23.11 24 23.12 25.13 26.13 27.13 28.13 29.14 30.14 4 31.14 32.14 33 23.15 34.15 35 23.15 36.15 37 24Q1 27.6%.16 38 24Q1 23.4%.16 39 24Q1.16 40 23.16 41.16 PVP+AOLoZJ9kT2V/sCFpy5KvZxvDHl7CnYBIQwX/6MPFcuKUPJAZlbH2ga8/jjRA 5 1.23 1.1 23 23 23 1.7+19.5%23.7%23 100 19 4%10%12 30%20 23 2.0+21%27.65%100 31 24Q1 18 24Q1 7.5%23 18 7 6 20%10 10%4 20%40.9%28.3%23.0%23 23 23 12 2160/2097/8.8%8.5%120kg 1.74/1.62/kg 22 23 15.7/15/kg 17.2/16.7/kg 23 1 23 1 0%10%20%30%40%50%60%70%80%90%0.00.20.40.60.81.01.21.41.61.82.02019 2020 2021 2022 2023(,)()Wind 2-60%-40%-20%0%20%40%60%80%100%23 Wind 1 6 3 24Q1-100%-80%-60%-40%-20%0%20%40%60%24Q1 Wind 4 23-25%-20%-15%-10%-5%0%5%10%30 31-60 61-100 100 23 1.2 23 23 A 2 23 141 319 22 49 51 23 42.6 24Q1 60 23 24Q1 23 23 24Q1 65%50%23 21 5 23-600-400-20002004006008002014 2015 2016 2017 2018 2019 2020 2021 2022 2023()()Wind 6-100-500501001502023 2022 2023 2022 Wind 2 7 7-20-15-10-5051015202023 2022 Wind 8 020406080100120140 2021 2021 2022 2023 1.3 23 2019 2020 20 1394 21-23 21 23 402-14.1%344.8-23.7%23 241.9-12.4%22-3.1%225.8-7.6%22+3.0%24 23 9 23-100%-50%0%50%100%150%200%250%02004006008001,0001,2001,4001,600()Wind 10 23-40%-20%0%20%40%60%80%100%120%0100200300400500600()Wind 8 11 23-50%0%50%100%150%200%050100150200250300350400450500()Wind 12 23-50%0%50%100%150%200%050100150200250300350(/,)Wind 13-25%-20%-15%-10%-5%0%5%10%15%20%25%2024-03 2023-12 2023-09 2023-06 2023-03 Wind 2.23 23 3.2+6.6%/1.5/1.3/0.23+10.1%/+5.3%/-4.9%1 23 23 2 23 23 23Q2 23+6.6%/+2.0%23 23 23 9 14-30%-20%-10%0%10%20%30%40%50%2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Wind 15 23-400-300-200-1000100200300400-5.0-4.0-3.0-2.0-1.00.01.02.03.04.0(/,)(/,)Wind 16 23 200021002200230024002500260027002800290030003000350040004500500055002023-012023-022023-032023-042023-052023-062023-072023-082023-092023-102023-112023-122024-012024-022024-032024-04(/,)(/,)Wind 10%23 20 62%7 40%23 593 580 466+0.7%17.4%+14.0%+14%23 1287 1130+0.9%12.8%+36%23 23 524+2.3%171 87-12.9%+30%+0.66pct 23 2260 2113+11.7%0.4%10%1pct 10 17 23-10%-5%0%5%10%15%20%05001000150020002500,Wind 18 23-10%-5%0%5%10%15%20%0100200300400500600700,Wind 19 23 Wind 20 23-30%-25%-20%-15%-10%-5%0%5%0100200300400500600,Wind 21 23-2-10123450%2%4%6%8%10%12%14%16%22()23()23-22 pct,Wind 11 3.23Q1 Q2 23Q1 3.9/4.6/11.3/kg 23Q1 1.7/1.34/-0.88/Q2 23 4 6.1/5 2.1/2/23 Q3 Q4 23Q2-Q4 24Q1 23Q4 22 23 0.02.04.06.08.010.012.014.00.01.02.03.04.05.06.07.0(/)(/)/Wind 23 23-5.0-4.0-3.0-2.0-1.00.01.02.03.04.0(/)(/)(/)Wind 23 24Q1 3.14 0.57 Q2-Q3 23Q4 24Q1 3.32/12 23Q2-Q3 24Q1 23 4 24Q1 23Q2 Q3 23Q4 24Q1 24 23-6-5-4-3-2-101234 23Q1 23Q2 23Q3 23Q4 24Q1 Wind 24 4.24Q1 23 24Q1 23 20.1%24Q1+0.3%23 92.2+22.5%24Q1 20.7+16.6%23 24Q1 41.0 6.7+17.5%/+9.0%23 24Q1 15.5 2.3+17.1%/-11.6%23 14.1+48.8%23 24Q1 23 11.0 22 0.3 23 9.0-0.7%24Q1 2.3-18.6%23 2.0 22-8.3 24Q1 0.8-49%23/24Q1 2.7/0.2+17%/-43%23/24Q1 2.6/0.3+1%/-33%13 25 3 Wind 26-10-8-6-4-202423()22()Wind/23 22.7/13.5/9.3/4.9+71.8%/+15.4%/+63.8%/+44.1%10%/23 40.0%/29.2%/25.3%/23 17.8/17.6/4.0+37%/+14%/+13%18%/23 36.4%42.8%24 23 12 25 24 1 18 3 19 23 27-20%0%20%40%60%80%100%120%140%160%2018 2019 2020 2021 2022 2023 Wind 28 25%27%29%31%33%35%37%39%41%43%45%2018 2019 2020 2021 2022 2023 Wind 3 22-8.8 23 2.0 22-23 14 29-50%-40%-30%-20%-10%0%10%20%30%40%50%2018 2019 2020 2021 2022 2023 Wind 30 20%25%30%35%40%45%50%55%2018 2019 2020 2021 2022 2023 Wind 5.23 24Q1 23 24Q1 23 24Q1 16 3.5+4.6%/-4.4%23 24Q1 10.6 2+6.3%/-26.7%23 24Q1 54.1 11.3-8.2%/+6%23 24Q1 12.5 2.4+1.8%/-23.3%31 Wind 32 23 24 23 2023 8037+242%8447+689%15 33 23 23 34 23 24 6.24Q1 23 23 509.8+4.6%CR10 22 31%31.4%14.5%14.4%23 28.6+39.4%23 10.8+20.4%23 3.5+27%35 23 Euromonitor 36 OEM/ODM 24Q1 23Q1 24Q1 27.6%23.4%11+21.3%8.8+24.4%3.8+142.4%16 37 24Q1 27.6%38 24Q1 23.4%39 24Q1 22-24 23 23 24Q1 4.3 1.5+60.7%/+74.5%23 24Q1 2.3 0.6+120.1%/+259%23 24Q1-0.1 0.4/+209.6%40 23 23 41 23 24 24 17 7.18 Table_Analysts/Table_Reports,1.6 6 2.A 500 10%-10%10%-10%6 10%-10%10%-10%
