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recently, the sharp rise in vitamin prices has attracted much attention from the capital market. on september 10, zhejiang medicine (600216), which mainly deals in vitamin-related products, held a 2024 interim performance briefing to respond to investors' concerns about the rise in vitamin prices.

at the meeting, zhejiang medicine stated that from the beginning of this year to now, the market price of vitamin products has begun to rebound. due to factors such as the recent supply constraints of other manufacturers and the recovery of the downstream breeding industry, the prices of vitamin e, vitamin a and other varieties have risen significantly.

it is reported that zhejiang medicine's main business is life nutrition products, pharmaceutical manufacturing products and pharmaceutical commerce, and it is a major supplier of vitamin a and vitamin e in china. public information shows that the company's designed production capacity of vitamin a is 5,000 tons, accounting for 9% of the industry; the designed production capacity of vitamin e is 25,000 tons, accounting for 22% of the industry.

the financial report shows that in the first half of this year, zhejiang medicine's vitamin product series achieved operating income of 1.735 billion yuan, a year-on-year increase of 22.81%, and the revenue proportion increased to 39.37%; the gross profit margin of this series of products increased to 43.57%, an increase of 7.07 percentage points over the same period last year.

benefiting from the price increase of its main products, zhejiang medicine achieved positive growth in the first half of the year, with total operating revenue of 4.405 billion yuan, a year-on-year increase of 11.87%; net profit attributable to the parent company was 315 million yuan, a year-on-year increase of 15.82%. among them, the net profit attributable to the parent company in the second quarter was 206 million yuan, a month-on-month increase of nearly 100%.

it is worth mentioning that in the third quarter, due to the supply disruption from major foreign vitamin suppliers, the prices of some vitamin products jumped.

specifically, on july 29 this year, an explosion occurred at the chemical plant of basf's ludwigshafen base in germany, a global chemical giant. the damaged equipment mainly produced some aromatic raw material final products as well as vitamin a, vitamin e and carotenoid precursors. on august 21, basf group further disclosed on its official website that the production of vitamin e, vitamin a and carotenoid products will be put into production no earlier than january 2025.

affected by this incident, vitamin a, vitamin e and other products have seen a sharp price increase. according to baichuan yingfu data, taking vitamin a as an example, as of september 10, the reference transaction price of va was around 230-250 yuan/kg, with some lows at around 220 yuan/kg and some highs at 260-270 yuan/kg. before the explosion at basf's german factory, the market transaction price of vitamin a was 90-95 yuan/kg.

what is the impact of rising vitamin prices? zhejiang medicine said at the meeting that the market price changes of the company's leading products, vitamin a and vitamin e, have promoted the recovery of the profitability of the company's life nutrition products segment, and are expected to drive the company's continued growth in performance in each quarter this year.

in addition, zhejiang medicine will formulate a shutdown and maintenance plan every year based on the production and operation situation. at this performance briefing, zhejiang medicine stated that this year's maintenance and maintenance items have been completed, and production has been gradually resumed. the shutdown and maintenance will not have a significant impact on the company's normal production and operation.