In the new year, the concept of A-share prefabricated dishes broke out in an all-round way. Zhanjiang Guolian Aquatic Products Co.Ltd(300094) , Jinling Hotel Corporation Ltd(601007) , Fortune Ng Fung Food (Hebei) Co.Ltd(600965) , Springsnow Food Group Co.Ltd(605567) , individual stocks of Beijing stock exchange and Gaishi food were listed on the dragon and tiger list yesterday and were wildly praised by funds. Today Zhanjiang Guolian Aquatic Products Co.Ltd(300094) , Haixin Foods Co.Ltd(002702) , Tongqinglou Catering Co.Ltd(605108) , Fortune Ng Fung Food (Hebei) Co.Ltd(600965) , Shandong Delisi Food Co.Ltd(002330) opened again.
In terms of news, the annual close is approaching, and it is also at the disclosure window of the annual report. There is continuous good news about the prefabricated dishes. On the evening of the 11th, Zhanjiang Guolian Aquatic Products Co.Ltd(300094) announced the cooperation with HEMA to jointly carry out in-depth development and market promotion of prefabricated dishes of aquatic products such as shrimp, tilapia and crayfish; On the same day Shandong Delisi Food Co.Ltd(002330) , it was announced in the investor relations activity record that in 2020, the volume of prefabricated vegetables (excluding low-temperature meat products) in a narrow sense had reached more than 400 million, and the revenue grew rapidly in 2021. It is estimated that the revenue of prefabricated vegetables in 2022 will be about 1.2 billion yuan.
The premise of tripling the scale of revenue in two years is that the prefabricated vegetable market is far from saturated.
Prefabricated dishes are not new. They have a history of more than 80 years in the world. After decades of development, the United States and Japan have grown into influential large-scale prefabricated vegetable enterprises, such as Sysco, konigra, Tyson, Nippon, Kobe products, etc. Chinese prefabricated dishes started in the millennium. The development of takeout in the past 14 years promoted the blowout of b-end, and the epidemic stimulated the acceleration of C-end in 2020. According to the data of iimedia research, the market scale of China’s Prefabricated dishes in 2021 is estimated to be 345.9 billion yuan. Huachuang Securities said that the current market space is about 200 billion yuan. Under the externalization of diet and economic development, China’s catering development potential is great, driving the prefabricated dishes to 700 billion yuan in 10 years, including about 100 billion yuan of quick-frozen dishes.
In the research portrait of AI media consulting, users in the first and second tier cities buy more prefabricated vegetables, and there are a large number of customers in East China. More than 80% of the surveyed users consume prefabricated vegetables every week. Customers buy prefabricated vegetables mainly to save time. According to the survey data, users mainly buy prefabricated dishes through offline channels. Compared with takeout, 83.8% of users feel that prefabricated dishes are healthier and hygienic.
The food team of Kaiyuan Securities believes that from the B end, prefabricated dishes can effectively reduce the rent, raw materials, labor and other costs of catering enterprises, ensure the consistency of chain catering products, and have high operation efficiency; From the C-end, the prefabricated dishes have high cost performance and good taste, which can effectively reduce the cooking burden of consumers and improve the quality of life. At present, the industry has obvious regional characteristics, the competition pattern is scattered, and it is still in the stage of horse racing and enclosure.
Considering the development stage of the industry, the competition in the reshuffle period is the enterprise efficiency. The organization judges that “the concentration of quick-frozen dishes is higher, and other dishes compete regionally”. Finally, the high-efficiency person can achieve share concentration after continuous reshuffle. The current plate dividend is brought by rapid penetration, and the track enjoys a premium under large space and rapid development.
As for the investment target, Shanxi Securities Co.Ltd(002500) social service team believes that prefabricated dishes that can ensure the taste of dishes are the first choice for family cooking. It is suggested to pay attention to the specialized production enterprises of prefabricated vegetables Suzhou Weizhixiang Food Co.Ltd(605089) ; Involved in semi-finished food and beverage enterprises Guangzhou Restaurant Group Company Limited(603043) , Tongqinglou Catering Co.Ltd(605108) ; Enterprises with food manufacturing business Fu Jian Anjoy Foods Co.Ltd(603345) , Zhongyin Babi Food Co.Ltd(605338) , Longda food. Considering the competitiveness, Huachuang securities recommends paying attention to the old brand quick-frozen leader Fu Jian Anjoy Foods Co.Ltd(603345) . Debon securities recommends Zhengzhou Qianweiyangchu Food Co.Ltd(001215) as the leader of the upstream supply chain of prefabricated vegetables.
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