Original link: https://ljf.com/2022/05/20/1094/
Key accounting data and financial indicators
In 2021, the operating income was 2,816,982,964.66 yuan, a year-on-year increase of 55.66%; the net profit attributable to shareholders of the listed company was 283,102,550.20 yuan, a year-on-year increase of 21.98%; %. Net cash flow from operating activities was 291,415,028.09, a year-on-year increase of 2.2%
[Cash flow only increased by 2.2% and no change explained]
Industry situation of the company during the reporting period
1. Overview of the baking industry
The modern baking industry started relatively late in mainland my country and was introduced from Hong Kong and Taiwan in the 1980s. After 2000, with the growth of my country’s per capita consumption level, the adjustment of catering consumption structure and the change of life rhythm, it has nutritional health, Baked foods with advantages such as quickness and variety have entered a period of rapid growth in China. From the perspective of supply, the production scale of my country’s bakery industry continues to expand. According to the “China Food Industry Yearbook” (2012-2018), the operating income of enterprises above designated size in my country’s pastry and bakery industry increased from 52.64 billion yuan in 2011 to 2017. 131.623 billion yuan, with a compound annual growth rate of 16.50%, much higher than the overall growth level of the food industry of 5.44% in the same period, and also higher than the growth rate of the global baking industry. From the perspective of consumption, the bakery retail market is growing rapidly. In 2021, the scale of China’s bakery food market will exceed 260 billion yuan. If the impact of the epidemic is not further exacerbated, the bakery food market is expected to maintain a growth rate of more than 10%. In 2023, China’s bakery The size of the food market will exceed 300 billion yuan, and the bakery food industry has entered a period of rapid development.
2. Frozen baked food industry
The application of frozen baked goods is closely related to the development of the baking industry. It is an optimization and improvement of traditional baked goods production and business models. It has great development momentum and has been rapidly popularized and developed in Europe and the United States. In the U.S., for example, in 1949 only 3% of bakeries used frozen baked goods, and by 1961 this rapidly increased to 39%. According to the estimated retail sales of baked goods in my country of 231.713 billion yuan in 2019, if the use of frozen baked goods reaches 39% of the application ratio in the United States in 1961, the market capacity of frozen baked goods in my country will reach 90.368 billion yuan.
The company’s main business
The company is mainly engaged in the research and development, production and sales of baked food raw materials and frozen baked food. The products mainly include semi-finished and finished frozen bakery products such as mochi, tarts, frozen donut cakes, etc., as well as baking raw materials such as cream, fruit products, sauces, etc., and also produce some snack foods. The company has many product types and various specifications, with a total of more than 900 product specifications, which can fully meet the multi-product and multi-specification one-stop purchasing and consumption needs of different types of downstream customers, and improve the convenience of customers. Due to the continuous enrichment of products, the company’s end customers have also developed from the original bakery store to the current bakery store, beverage store, catering, supermarket and convenience store. The company has carried out production capacity layout around the main markets of national baking consumption. At present, the company has invested and established five production bases and seven production plants in Foshan Sanshui, Guangzhou Zengcheng and Nansha in South China, Zhejiang Changxing in East China, and Henan Weihui in North China. Through the nationwide layout of production bases, the company can effectively meet customers’ requirements for the timeliness of bakery products, improve operational efficiency and reduce logistics costs.
frozen baked goods
Frozen baked goods refer to baked products obtained by freezing after completing some or all of the processes in the baking process, and are stored and transported by freezing. The shelf life is usually 6 to 9 months, which can be safe, healthy and maintain the taste. , greatly extending the life cycle of bakery products. Frozen baking technology decomposes the production of baked products into multiple independent links such as dough making, baking and cooking. The company’s frozen baked goods can be divided into frozen baked semi-finished products and frozen baked products according to different product forms and processes. Among them, frozen baked semi-finished products can be obtained after simple proofing, baking and other processes after thawing, while frozen baked products are in the It can be eaten directly after thawing.
The company’s main raw materials, soybean oil, palm kernel oil, frying oil, and glucose powder, are affected by market supply and demand. Prices in 2021 will increase by about 38%, 33%, 36%, and 33% year-on-year, respectively, resulting in a year-on-year increase in the company’s main business costs during the reporting period. 2.4%.
Marketing network and channel advantages
Since its establishment, the company has attached great importance to the construction of marketing network. By the end of 2021, the company has more than 1,000 sales staff, and its marketing network covers all provinces, municipalities and autonomous regions in my country except Hong Kong, Macao and Taiwan. It has cooperated with more than 2,700 customers and served more than 50,000 end customers.
Product category diversification advantage
The company has a wide range of products and various products have many product specifications. The company has more than 900 product specifications for cream, fruit products, sauces and frozen baked goods.
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