On the evening of April 20, Shandong Delisi Food Co.Ltd(002330) released the annual report of 2021. In 2021, the company gradually implemented the new strategy of slaughtering, developing low-temperature meat products and extending prefabricated vegetables, realizing a revenue of 3.13 billion yuan and a net profit attributable to the parent of 437435 million yuan, a year-on-year increase of 50.3%; The net profit attributable to the parent company after deduction was 37.664 million yuan, a year-on-year increase of 428.53%. The company’s strategic transformation has achieved initial results, the gross profit margin of slaughtering has increased, the business scale of prefabricated vegetables has gradually expanded, and the research and development of new products is progressing smoothly.
In terms of traditional business, affected by the gradual recovery of China’s pig production capacity and the increase of pig stock and slaughter volume, the utilization rate of the company’s slaughtering capacity has been greatly improved. The slaughtering business achieved a revenue of 1.747 billion yuan and the gross profit margin has increased from 0.76% to 3.33%. However, due to the decline of pig prices, the business scale of the company has been reduced, accounting for 55.82% from 70.85%.
The prefabricated vegetable business concerned by the market has ushered in a bumper harvest. The company’s Prefabricated dishes include beef series products, quick-frozen conditioning products, quick-frozen rice noodles products and instant leisure products. In 2021, the revenue of beef products reached 178 million yuan, a year-on-year increase of 53.22%, and the proportion increased from 3.53% to 5.67%; Quick frozen conditioning products achieved a revenue of 269 million yuan, a year-on-year increase of 2.07%, and the proportion of revenue increased to 8.61%.
During the reporting period, the company invested 8.4382 million yuan in R & D, with a year-on-year increase of 203.66%, making the prefabricated vegetable products constantly push through the old and bring forth the new. It has launched a series of prefabricated dishes, such as Zhenxiang braised pork, Zhenxiang Sixi balls, braised pig feet, crystal streaky pork, rattan pepper heart protecting meat, Zhenxiang braised beef brisket, Yuanqi beef soup, braised beef tendon, barbecued plum blossom meat, etc., which are highly recognized by the market. The company also continuously reserves new products of prefabricated dishes, among which the formula and preparation method of sauce and marinated meat products rich in dietary fiber have been successful. In addition, a series of products have been determined, including quick-frozen conditioned crispy chicken legs, crispy salt crispy chicken, lion head and so on. In terms of channels, the company has formed a good reputation at the b-end and accumulated a large number of high-quality customers with stable prefabricated vegetable product quality and high-quality service. For C-end consumers, the company will build a multi-level marketing system, strengthen the promotion and promotion of Jingdong self operated stores and tmall flagship stores in traditional online channels with the help of short video, live broadcast and other new media means, and build offline flagship stores and dealer franchise stores in areas well known to consumers in the North.
At present, the policy of the prefabricated vegetable industry is clearer. Weifang City, where the company headquarters is located, has incorporated the prefabricated vegetable industry into the cultivation and management of the city’s key industrial chain, and clearly put forward the development goal of building “the first city of China’s Prefabricated vegetable industry”. As the leader of local prefabricated dishes, Shandong Delisi Food Co.Ltd(002330) is expected to benefit from the construction of local industrial clusters.
In 2022, Shandong Delisi Food Co.Ltd(002330) will adhere to the principle of paying equal attention to industrial operation and capital operation, and continue to expand the food and health business sector and improve profitability in accordance with the working principles of stabilizing the slaughtering business, expanding the intensive processing business of meat products, rapidly developing the scale of prefabricated vegetable business and broadening the market layout.
