Xiwang Foodstuffs Co.Ltd(000639) 429 issue the annual report of 2021 and the report of the first quarter of 2022. Focusing on corn oil production and manufacturing for more than ten years, the company is a leading corn oil production enterprise in China with control conditions of the whole industrial chain. In 2021, the operating revenue was about 6.355 billion yuan, with a year-on-year increase of 9.95%. In the first quarter of 2022, the operating revenue was about 1.336 billion yuan.
The annual report shows that the company’s main products are edible oil products and sports nutrition products. Over the years, the company has adhered to the simultaneous development and coordinated development of dual main industries.
In 2021, in the edible oil sector, the company actively seized market opportunities, innovated sales channels and consolidated the terminal foundation. Especially in the face of the rising trend of bulk oil prices, while actively stabilizing the market order, the company consolidated key customers, developed new markets, optimized product structure, timely adjusted the sales rhythm and pre sales tasks according to market changes and epidemic development situation, and the order volume in a single month hit a new record. In the sports nutrition sector, on the one hand, the company has created a star marketing matrix to enhance the brand communication volume. On the other hand, it has focused on the new marketing of Tuoxin Tiktok e-commerce, harvested new flow pool resources, stabilized supply chain management and improved product profitability.
In addition to the advantages of the whole industry chain, brand and channel, the company also has strong advantages in process technology and equipment. The company has China’s advanced corn germ oil production technology and a full set of production lines, and has introduced international advanced technology and equipment such as Japan, Sweden, France, Germany and Italy. The production process has realized full automatic control. It is equipped with international advanced testing equipment, including real-time fluorescence quantitative analyzer of ABI in the United States, near-infrared detector of Buqi in Switzerland, accelerated oil oxidation instrument and automatic potentiometric titrator of Wantong in Switzerland. It has the leading scientific research and development ability and analysis and detection ability in the edible oil industry. The self-developed national invention patent “six fresh-keeping process” of fresh embryo corn germ oil ensures the quality of products and the natural, green and healthy corn oil. The new enzymatic degumming technology successfully developed and applied is the first in the corn oil industry, which can retain the nutritional factors in corn oil to the greatest extent, increase the yield of corn oil products by an average of 1.5 percentage points, and increase the economic benefits of the company by more than 10 million every year.
For the future development strategy, the company said that since its establishment, it has established a three-step long-term development strategy of brand construction: the first step is to become the first brand of corn oil in China; The second step is to build the first brand of high-end edible oil in China; The third step is to shape the first brand of Chinese health food.
The company is committed to becoming a leader in healthy food in China. In 2016, the company successfully acquired iovate, a well-known Canadian Sports Nutrition and weight management product company, marking the company’s business from the edible oil industry with a market scale of 10 billion to a large health industry with a market scale of trillion. Focusing on the intensive cultivation of the above major health industries, multi-dimensional sales of edible oil sector, promote the rejuvenation of brands and continue to implement terminal promotion activities; The sports nutrition sector further explored the potential of overseas channels, actively expanded product categories, and paid close attention to new media and hot events with the help of the company’s national sales network in China, which greatly improved the brand awareness.
While making the above two main businesses bigger and stronger, the company actively seeks to realize the third step strategy through epitaxial growth. As a leading enterprise of edible oil, the company actively seeks high-quality targets around great health and consolidates the market position of the company in the field of high-end healthy food. In 2022, according to the strategic requirements of “expanding grain and oil”, actively promote the expansion of Shanghai Pudong Development Bank Co.Ltd(600000) tons of small packaged corn oil project, strictly follow the project planning, ensure the construction quality and progress, and ensure that the project is put into trial operation on schedule.
