On February 22, Yihai Kerry Arawana Holdings Co.Ltd(300999) released the annual performance express of 2021. The company achieved an operating revenue of 226.225 billion yuan, a year-on-year increase of 16.1%, and a net profit attributable to shareholders of listed companies of 4.132 billion yuan, a year-on-year decrease of 31.1%. It is worth noting that this is also the first time that the company’s revenue has exceeded 200 billion yuan.
Last year’s rise in soybean prices had a certain impact on the whole food processing industry, and also led to the expansion of cost growth of enterprises in the industry, Yihai Kerry Arawana Holdings Co.Ltd(300999) is no exception. For the performance in 2021, Yihai Kerry Arawana Holdings Co.Ltd(300999) is mainly due to the impact of the sharp rise in the cost of raw materials on the kitchen food side. At the same time, the market competition intensified last year and the factors of weak consumption increased the sales volume and income, but the profit decreased. In the feed raw materials and oil technology side, affected by the rising market, the profit of the sector increased significantly year-on-year. From the overall performance, the company’s performance still maintains steady growth and strong business toughness.
For the rise in raw materials generally faced by the industry, Yihai Kerry Arawana Holdings Co.Ltd(300999) previously said in the investment and customs activities that it would continue to adjust the product structure and upgrade products, add more products with high added value and high gross profit margin, and make full use of the advantages of comprehensive enterprise group, marketing network channel, brand and research and development, so as to reduce the impact of raw material price fluctuations on the company’s profits. On the whole, Yihai Kerry Arawana Holdings Co.Ltd(300999) current performance is only the short-term status quo, with a good long-term industrial structure and good growth.
revenue exceeded 200 billion
According to the express, in 2021, the company is expected to achieve an operating revenue of 226.23 billion yuan, a year-on-year increase of 16.1%, breaking the 200 billion revenue mark for the first time; The net profit is 4.132 billion yuan, and the net profit attributable to shareholders of listed companies after deducting non recurring profits and losses is 5 billion yuan.
Since last year, affected by changes in the international market, the prices of soybeans, corn and other crops have continued to rise. According to the data of the General Administration of customs, in 2021, the average import price of soybean was 555 US dollars / ton, up 41% from 394 US dollars / ton in 2020, which had a great impact on the whole food processing industry. The cost growth of enterprises in the industry expanded and the performance fluctuated significantly. In addition, due to intensified market competition and superimposed factors of weak consumption, medium and high-end retail products have been greatly affected.
However, Yihai Kerry Arawana Holdings Co.Ltd(300999) relies on the strong scale effect and the synergy of the whole industrial chain to carry out in-depth cost control and price strategy. In 2021, the overall performance fluctuation of the company was lower than the industry average, showing excellent anti risk ability and operation level.
Changjiang Securities Company Limited(000783) analysts pointed out that the advantage of Yihai Kerry Arawana Holdings Co.Ltd(300999) procurement cost lies in that on the one hand, the company employs professional procurement personnel and teams to operate, combs and optimizes the whole chain of procurement modules, and the controlling shareholder belongs to the global comprehensive Shenzhen Agricultural Products Group Co.Ltd(000061) group, which can provide timely and sufficient market supply and demand information; On the other hand, many production bases of the company are close to the origin of raw materials, ports, railways or terminal markets, which is conducive to the use of local characteristic raw materials and imported raw materials, reduce production costs, ensure product quality and save transportation costs. In addition, Yihai Kerry Arawana Holdings Co.Ltd(300999) vigorously develops circular economy, and some product raw materials are by-products of the previous production link, which reduces various costs in the downstream procurement process and shows its advantages of industrial chain integration.
central kitchen is expected to become
new highlights of business this year
As a national brand that has worked in the grain, oil and food industry for more than 30 years, Yihai Kerry Arawana Holdings Co.Ltd(300999) with its advantages in scale and the layout of the whole industrial chain, with kitchen food as the core, the industrial chain has been extended to rice, flour, oil technology, feed raw materials and many other fields. In recent years, efforts have been made to build a full chain closed loop from the source to the dining table, and new business areas such as central kitchen and condiments have been successively arranged, which has aroused heated discussion in the market.
Before the Spring Festival, the prefabricated dish sector led the A-share market and once became a hot spot in the capital market. The business progress of Yihai Kerry Arawana Holdings Co.Ltd(300999) central kitchen has also become the focus of the market. At present, the company has more than 70 production bases in China, and plans to build Fengchu central kitchen Park in Hangzhou, Chongqing, Langfang, Xi’an and other places. Among them, Hangzhou Fengchu is in the trial production stage. It is expected to launch the first batch of products in the second quarter of this year. Fengchu central kitchen products will cover student meals, nutritious meals, bentos, prefabricated dishes, seasoning sauce, clean vegetables, flour products, etc.
According to the report on the development of China’s Prefabricated vegetable industry from 2021 to 2022, the scale of China’s Prefabricated vegetable market will exceed 300 billion yuan in 2021 and is expected to exceed 830 billion yuan by 2025. On the other hand, at present, the penetration rate of prefabricated vegetables in China is only 10% – 15%, while in Japan, the penetration rate of prefabricated vegetables has reached more than 60%, which shows that there is a huge space for the development of China’s industry in the future.
As a leading brand in the field of kitchen food, Yihai Kerry Arawana Holdings Co.Ltd(300999) undoubtedly has many first mover advantages in the layout of the central kitchen. The company’s existing industrial chain and sales network in the country can not only effectively connect the upstream, middle and downstream businesses of the central kitchen, covering all links from raw materials to table delicacies, but also form a solid guarantee for business development with the company’s strong brand endorsement and skilled operation ability.
In addition, Fengchu park will also introduce partners to jointly expand the central kitchen business, share resources such as public supporting facilities, product R & D, warehousing and logistics and sales channels in the park, provide one-stop services for customers and catering enterprises in the park, and build a Chinese food industrialization ecological chain platform with grain staple food as the core.
The official launch of Hangzhou Fengchu this year means that the central kitchen business of Yihai Kerry Arawana Holdings Co.Ltd(300999) has entered the first year. With the continuous completion of Fengchu parks around the country, the central kitchen business is expected to contribute to the next growth curve of Yihai Kerry Arawana Holdings Co.Ltd(300999) and lead a new model of catering development in China.
with technical R & D strength
drive consumption upgrade
With the deepening of China’s consumption upgrading trend, consumers have higher and higher requirements for product quality and health attributes. Yihai Kerry Arawana Holdings Co.Ltd(300999) adhere to the use of science and technology to transform traditional industries, lead the advanced consumption concept, and apply modern production technology to the production process of grain, oil and food with the help of nearly 100 laboratories and more than 1000 scientific research equipment, so as to improve the attributes of safety, nutrition and health.
Yihai Kerry Arawana Holdings Co.Ltd(300999) continuously expand the boundaries of products and business fields with kitchen food as the core. In the field of condiments, the company previously acquired “Liangfen” brand Shanxi aged vinegar, and cooperated with Taiwan’s century old brand “Wanzhuang” to produce black bean soy sauce. In addition, the company has recently launched a series of new explosive products such as hot pot bottom material, snail powder, material wrapped noodles and Douhua cup. Among them, as soon as the snail powder of “Qia powder bureau” was listed, it quickly appeared on the hot sales list of snail powder on tmall, pinduoduo and other platforms. With Yihai Kerry Arawana Holdings Co.Ltd(300999) continuously promoting the research and development of new products and grasping the pulse of new consumption, the category and sales volume of the company’s high value-added products have been continuously improved, adding new development impetus to the company.
