On April 24, Jinzai Food Group Co.Ltd(003000) disclosed that the first quarterly report showed that the revenue in the first quarter was 259 million yuan, with a year-on-year increase of 15.53%. Affected by the share payment of more than 3.8 million yuan, the net profit was 2006.2 million yuan, a slight decrease of 5.79%.
In the case of high growth in the third and fourth quarters of last year and peak shifting during the Spring Festival, Jinzai Food Group Co.Ltd(003000) maintained rapid growth in revenue in the first quarter of this year. In terms of profit, in addition to being affected by equity payment expenses, Jinzai Food Group Co.Ltd(003000) also took the initiative to increase investment in terminal construction. Generally speaking, since the third quarter of 2021, Jinzai Food Group Co.Ltd(003000) performance has continued to improve, and product strategy and channel strategy have achieved initial results.
Jinzai Food Group Co.Ltd(003000) focuses on leisure food with the flavor of Hunan spicy brine. At present, it has formed a product echelon pattern dominated by “large single products” leisure fish products and coordinated development of high-quality protein categories such as bean products and poultry meat products, with a billion level large single products and two billion level strength categories.
At the first Xiangjiang new consumption Summit Forum held at the end of last year, Jinzai Food Group Co.Ltd(003000) chairman Zhou Jinsong said that the “big single product” strategy is not just to create a product, the core essence is “focus”, focusing on the development of potential core single products.
Since 2021, Jinzai Food Group Co.Ltd(003000) has focused on “big package” products and achieved a year-on-year increase of over 50% in revenue last year Jinzai Food Group Co.Ltd(003000) relevant person in charge said that in the first quarter of 2022, Jinzai Food Group Co.Ltd(003000) “big package” products’ revenue growth did not decrease, with a year-on-year increase of more than 50%. The “big package” products are of great significance to effectively seize the terminal shelves and cover the mainstream price band of snacks.
At the same time, Jinzai Food Group Co.Ltd(003000) focuses on channel construction, transforms from product trade type to terminal service type, and explores a new incremental channel model. Offline, we will focus on cultivating dealers with terminal service capability, adopt the vertical and horizontal development of the combination of extensive expansion and deep cultivation of channels, realize the comprehensive improvement of market share and single store sales volume, and Jinzai Food Group Co.Ltd(003000) products will smoothly enter high potential Ka, BC, CVs and other modern channels.
At the shareholders’ meeting held in mid April, Zhou Jinsong said that the company had a good growth in the second half of last year. At present, the epidemic situation is repeated, which still disturbs the supply chain in the short term, but does not change the good development momentum of enterprises in the long term.
At the same time as the disclosure of the first quarterly report, Jinzai Food Group Co.Ltd(003000) also disclosed the proposal on the achievement of the first release of restrictions in the first release period granted by the restricted stock incentive plan in 2021. The achievement condition is that the revenue in 2021 will increase by 20%, and the ban on 1.595 million shares of 23 incentive objects who meet the release conditions will be lifted, accounting for 50% of the total share capital of the equity incentive and 0.3956% of the total share capital of the company.
Since its listing, Jinzai Food Group Co.Ltd(003000) implemented an active profit distribution policy. In 2020 and 2021, cash dividends of 80.02 million yuan and 60.48 million yuan were distributed respectively, accounting for 78% and 71% of the profits of the current year respectively.
