On the evening of April 19, Zuming Bean Products Co.Ltd(003030) ( Zuming Bean Products Co.Ltd(003030) ) released the 2021 annual report. According to the announcement, the operating revenue of the company in 2021 was 1.337 billion yuan, a year-on-year increase of 9.14%, and the net profit was 55.72 million yuan, a year-on-year decrease of 44.83%. It is worth noting that the company continues to pay attention to R & D. in 2021, the company’s R & D investment increased by 16.83% year-on-year, and its technical advantage is ahead of the industry.
According to the data, Zuming Bean Products Co.Ltd(003030) focuses on the R & D, production and sales of bean products. The product varieties cover more than 400 kinds of products, such as fresh bean products, plant protein drinks and leisure bean products. Among them, fresh bean products and vegetable protein drinks became the main source of Zuming Bean Products Co.Ltd(003030) revenue. In 2021, the company’s sales revenue of fresh bean products was 893951 million yuan, a year-on-year increase of 8.52%; The sales revenue of plant protein drinks was 209066 million yuan, a year-on-year increase of 24.39%.
Since last year, due to the continuous rise in the costs of raw and auxiliary materials, labor, transportation and energy, the profit space of soybean products enterprises has been generally under pressure, and the price increase mode has been opened one after another. In March 2021, Zuming Bean Products Co.Ltd(003030) raised the price of fresh soybean products by about 5%. In November 2021, Zuming Bean Products Co.Ltd(003030) raised the ex factory price of vegetable protein drinks mainly made of self-contained bags of soybean milk by 15% – 20%. Price increase plays a certain role in alleviating cost pressure and contributing revenue and profit.
It is understood that, as an important part of the “vegetable basket” of Chinese residents, soybean has always had the problems of low self-sufficiency rate and high external dependence. As the largest soybean producing area in China, Heilongjiang’s planting area and output are nearly half that of the whole country. According to the Heilongjiang work goal of the latest spirit of the central government, Heilongjiang will “expand the area” in soybean planting this year, add more than 10 million mu of soybean planting area, and it is estimated that the soybean will increase by 2.6 billion kg. A series of news encouraging soybean planting may further alleviate the demand pressure on raw materials of soybean products enterprises.
In addition, due to the limited transportation radius of bean products enterprises and the continuous accumulation of industry experience, market expansion through equity investment mode has gradually become a Zuming Bean Products Co.Ltd(003030) creative development mode. Recently, the company announced that it plans to carry out a production base construction project with a total investment of about 300 million yuan within the jurisdiction of the Management Committee of Wuhan Jiangxia Economic Development Zone to establish production plants and auxiliary supporting buildings for the company’s fresh bean products, plant protein drinks, leisure bean products and other bean products. The company said that Wuhan Jiangxia production base is an important step in the company’s strategic layout of central China, which will further improve the influence of the “ancestral name” brand and effectively promote the company’s strategic planning of “based on the Yangtze River Delta, facing the whole country and going to the world”.
In addition, the company has signed the cooperation framework agreement with Nanjing Guoguo food and Guizhou longyuansheng soybean industry to expand in different places by means of equity investment, so as to fully consolidate the leading position in the bean products industry.
For the future, Zuming Bean Products Co.Ltd(003030) said that the company will continue to carry out remote layout, continue to strengthen the company’s medium and long-term development logic, and maintain a leading position in the bean products industry.
