Negotiation of Food meeting no sponsor said shareholders expect higher valuations

He Tianxian "Melon seed king" Contact Food Co., Ltd. (hereinafter referred to as "contact food") IPO will be nearly two months, has not been issued approval. Not only that, the Shanghai Environmental Protection Bureau, a green inspection publicity triggered a lot of speculation in the market.　　Is it a question of EIA or more? 　　Is EIA not a problem? January 7, 2011, the Shanghai Municipal Environmental Protection Bureau issued a Shanghai Contact Food Co., Ltd. listed environmental protection Verification (supplement) publicity.　　According to the relevant requirements, its subsidiary of Shanghai Contact Food Co., Ltd. to carry out supplementary environmental verification. Shanghai Municipal Environmental Protection Bureau insiders told the "first financial daily", the contact food does not belong to the State Environmental Protection Administration of the listed enterprises to verify the object, due to the agreement with the Food initiative to the Anhui Province Environmental Protection Department to submit applications, Anhui Province Environmental Protection Department commissioned by the Shanghai Environmental Protection Bureau of the Environmental Protection "And the reason why the food will come up with environmental verification requirements, it may be because of the requirements of the regulatory authorities."　　The EPA said. Li Huifen, director of food brand, explained to the newspaper: "Due to the company's environmental verification approval deadline is December 31, 2009, the company submitted an IPO application in early 2010." At that time, the request was submitted from 2007 to 2009 three years of environmental verification approval procedures. The company did not carry out environmental audits for 2010, as it was only a year after the IPO, which had been in place until the end of 2010, that regulators asked for a supplementary IPO check. "The company has no problem with environmental protection," he said.　　Li Huifen stressed.　　In general, regulators have less demand to stop adding environmental checks until after the company's release. 　　Wait for higher valuations?　　If the EIA is not a problem, what exactly are the negotiation foods that have been delayed after the IPO? "There will be a big increase in revenue and profits for 2010 years."　　"In charge of the negotiation of the food listing of the National securities sponsor Wang Gang's yesterday to our correspondent said that this has not been due to the annual report straddling the reasons for disclosure, contact the food shareholders hope that the results of the year 2010 and reported to the SFC, the issue of the company's valuation will be higher.　　Wang Gang's also said that it is expected that February contact food will start the distribution work.　　Our correspondent inquires to the food prospectus found that November 19, 2010 through the SFC Audit Committee issued a review of the negotiation of the food prospectus only disclosed the first half of the 2010 performance. National Gold Securities, a reluctant to disclose the name of the analyst in the interview with our correspondent said that the industry cordial the prospect of food is not optimistic. "Contact the food company's own development bottlenecks, melon seed industry this year's overall development is poor."　　"the analyst said. The main problem of the contact food itself is the single profit product.　　According to the food prospectus, sunflower products occupy more than 80% of sales revenue and gross margin, plus about 9% of the watermelon seeds, melon seed business accounted for the company's revenue and profit nearly 90%. Although the company is also trying to extend the product line to change the currentA single pattern of profitable varieties, but from the data of nearly three years, the results are very little.　　New products in the overall sales of the company accounted for nearly 3.5 of the share has been hovering between 11%~18%, without substantial growth. Industry analysis, which actually reflects the company's future growth in the face of the dilemma: the advantages of a snack product can not be simply migrated to another product.　　Although the company is currently in the seeds of the subdivision industry in the leading, but does not mean that it can become a fast-food industry leader in the consumer. From the development process of the international leading enterprises such as Kraft and Danone, the high investment in research and development and the continuous acquisition are the important ways to gain the advantage position. And these two terms of contact food are not available at present: The company nearly three years and a period of research and development investment accounted for less than 3 per thousand of sales revenue, in the acquisition of neither achievements nor expressed any will.　　The status quo to do "melon seeds", the company's long-term growth space worrying. Melon Seeds industry growth is slow, the average annual growth is expected to be only 10%. Melon Seeds Enterprise Good Big Food Co., Ltd. a market ministry Personage said, because this year melon seed raw material market price rises, plus the logistics cost rises, to the melon seed enterprise profit influence, this year enterprise benefit will be lower than previous years. "This year is not a good opportunity for seed companies to go public.　　The market personage says. In addition, industry insiders believe that the industry to enter the threshold of low, product difference is small, consumers to taste more than the identity of the brand and other factors, decided that the structure of decentralized competition will exist for a long time, the advantages of manufacturers to rapidly expand market share is difficult. It is difficult for a company to grow by simply relying on melon seeds. (This newspaper reporter Lin Xiang also contributed to this article)