烟台双塔食品股份有限公司 证券代码：002481 证券简称：双塔食品 烟台双塔食品股份有限公司投资者关系活动记录表 编号：2020-010 | --- | --- | --- | |-------------------|-----------------------------------|------------------------------------------------------------| | | | | | 投 资 者 关 系 活 | £ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | R 其他 （投资者电话会议） | | | 参 与 单 位 名 称 | 信安环球投资（香港）， | Principal Global Investors (Hong | | 及人员姓名 | Kong) Limited 麦格理证券 于雪雯 | 叶俊睿 | | 时间 | 2020 年 6 月 29 日 | | | 地点 | 公司会议室 | | | 上 市 公 司 参 与 | 董事长 ...

烟台双塔食品股份有限公司 证券代码：002481 证券简称：双塔食品 烟台双塔食品股份有限公司投资者关系活动记录表 编号：2020-015 | --- | --- | --- | |-------------------------|--------------------------------|--------------------------------------------------------------| | | | | | 投资者关系活动类别 | £ 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | R 其他 （投资者电话会议） | | | 参与单位名称及人员姓 名 | SHK Fund Management | ， Tony Liu | | 时间 | 2020 年 8 月 27 日 | | | 地点 | 电话会议 | | | 上市公司接待人员姓名 | 董事长杨君敏、董事会秘书师恩战 | | | 投资者关系活动主要内 | 1 | 、公司豌豆蛋白技术与行业内其他企业相比有什么 ...

烟台双塔食品股份有限公司 证券代码：002481 证券简称：双塔食品 烟台双塔食品股份有限公司投资者关系活动记录表 编号：2020-001 | --- | --- | --- | |--------------|----------------------------------|-----------------------------------------------------| | | | | | 投资者关系活 | □ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | R 其他 （投资者电话会议） | | | 参与单位名称 | | 通过天风证券组织的电话会议系统参加会议的投资者 | | 及人员姓名 | | | | 时间 | 2020 年 2 月 11 日 | | | 地点 | 电话会议 | | | 上市公司接待 | 董事长杨君敏、董事会秘书师恩战。 | | | 人员姓名 | | | | 投资者关系活 | 1 | 、这次疫情对公司的生产有没有大的影响？ | | 动主要内容介 | ...

Group 1: Company Overview - Yantai Shuangta Food Co., Ltd. is the largest producer of pea protein, pea starch, dietary fiber, and other related products in the industry [1][2]. Group 2: Supply Chain and Raw Materials - The company sources its peas primarily from Canada, with sufficient raw material reserves to supply production for over six months, mitigating supply risks [2][3]. - Pea cultivation is mainly concentrated in countries like Canada, India, Russia, Ukraine, France, and Australia, with India being a significant producer but exporting less [2]. Group 3: Competitive Advantages - The company has several competitive advantages, including: - Scale advantage as the largest producer in the industry [3]. - Unique status as a national-level circular economy base, capable of producing 10 different products from a single pea [3]. - Cost advantage through a circular economy model, resulting in lower overall costs compared to competitors [3]. - Technological advantage with leading extraction techniques for pea protein [3]. Group 4: Market Applications and Pricing - Pea protein is primarily used in solid beverages, energy bars, breakfast cereals, and plant-based meat, with increasing applications in the plant-based meat sector [3][4]. - The average price of high-end pea protein is around 20,000 yuan per ton, with stable pricing expected unless market demand changes [3][4]. Group 5: Future Strategies - The company plans to enhance the added value of pea protein and expand its product range based on customer needs, including different types and applications of pea protein [4]. - Future investments will focus on domestic projects, with potential for international expansion in the future [4].

烟台双塔食品股份有限公司 证券代码：002481 证券简称：双塔食品 烟台双塔食品股份有限公司投资者关系活动记录表 编号：2020-018 | --- | --- | --- | |----------------------|--------------------------------|-----------------------------------------------------------------| | | | | | 投资者关系活动类别 | £ 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | R 其他 （投资者电话会议） | | | 参与单位名称及人员姓 | 参会名单详见附件。 | 通过电话会议系统参加富瑞金融集团组织的交流会 | | 名 | | | | 时间 | 2020 年 9 月 3 日 | | | 地点 | 电话会议 | | | 上市公司接待人员姓名 | 董事长杨君敏、董事会秘书师恩战 | | | 投资者关系活动主要内 | 1 | 、从营业收入和利润来看，传 ...

烟台双塔食品股份有限公司 编号：2020-006 证券代码：002481 证券简称：双塔食品 烟台双塔食品股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|------------------------------------|--------------| | | | | | 投资者关系活动类别 | R 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | £ 其他 （投资者电话会议） | | | 参与单位名称及人员姓 名 | 永丰金证券（台湾）：孙维维、张巧莹 | | | 时间 | 2020 年 5 月 8 日 | | | 地点 | 电话会议 | | | 上市公司接待人员姓名 | 董事长杨君敏、董事会秘书师恩战 | | 烟台双塔食品股份有限公司 | --- | --- | |----------------------|------------------------------------------------ ...

烟台双塔食品股份有限公司 证券代码：002481 证券简称：双塔食品 烟台双塔食品股份有限公司投资者关系活动记录表 编号：2020-002 | --- | --- | --- | |--------------|----------------------------------|--------------------------------------------------------------| | | | | | 投资者关系活 | □ 特定对象调研 | □ 分析师会议 | | 动类别 | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | R 其他 （投资者电话会议） | | | 参与单位名称 | | 通过天风证券组织的电话会议系统参加会议的投资者（名单 | | 及人员姓名 | 详见附件） | | | 时间 | 2020 年 2 月 19 日 | | | 地点 | 电话会议 | | | 上市公司接待 | 董事长杨君敏 | | | 人员姓名 | | | | 投资者关系活 | 1 | 、这次疫情对公司一季度的生产经营有没有影响？ | ...

Business Overview - Yantai Shuangta Food Co., Ltd. is transitioning from a traditional food processing company to a biotechnology health food enterprise, focusing on products like pea protein, vermicelli, and dietary fiber, which have shown strong growth despite the pandemic [2][3]. - The company employs a circular economy model, enhancing the value of by-products, with significant improvements in the added value of pea protein and dietary fiber [2][3]. Circular Economy Model - The company's circular economy model, known as "1+10 Circular Economy," utilizes fermentation technology to derive over 10 products from peas, including pea starch, vermicelli, and various proteins [3][4]. - This model allows the company to reduce comprehensive costs by approximately 30% compared to industry peers [3][4]. Market Position and Competitive Advantage - Shuangta Food is the largest producer of vermicelli in the industry, with a current pea protein production capacity of 70,000 tons, accounting for about 40% of the global capacity of 170,000 tons [4][5]. - The company has a technological edge with comprehensive extraction techniques for pea protein, including wet, dry, and new dry methods, which are not widely adopted by competitors [4][5]. Export and Supply Chain - The company’s pea protein export business has remained stable, unaffected by the pandemic, as domestic competitors faced challenges, providing Shuangta with market expansion opportunities [4][5]. - Pea raw materials are primarily imported from Canada, with a global production of approximately 10 million tons, and Shuangta maintains a stock sufficient for at least six months of production [5][6]. Future Prospects - The demand for pea protein is expected to grow significantly due to rising consumer awareness and preferences for non-GMO, allergen-free, and low-cholesterol products [6][7]. - The company plans to enhance its product offerings in the health food sector, including protein powders and functional low-oligosaccharides, which are derived from pea processing [6][7].

Group 1: Company Overview - Yantai Shuangta Food Co., Ltd. is listed with the stock code 002481 and is known as Shuangta Food [1] Group 2: Investor Relations Activity - The investor relations activity was categorized as a specific object survey, conducted via a telephone conference on August 26, 2020 [2] - Participants included representatives from Taiwan Unified Securities, Taiwan Unified Investment Consulting, and Taiwan Fubon Life Insurance [2] Group 3: Product Differentiation - The company differentiates its high-end protein products, which are used in protein powders, solid beverages, and plant-based meat, from low-end proteins primarily sold to high-performance fish feed clients and premium pet food companies [2][3] - The company plans to expand its plant-based meat offerings, leveraging existing retail, restaurant, and e-commerce channels [3] Group 4: Raw Material Procurement - The company has increased its pea raw material storage from 3 months to over 6 months of production needs due to pandemic-related risks [3] - Current pea raw materials are primarily imported from Canada and France, with plans to diversify sourcing as markets in Russia and Turkey open up [3] Group 5: Market Position and Capacity - The company's pea protein business contributes significantly to its operations, currently holding a market share of 30%-40%, with plans to increase this to 50%-60% [3][4] - The global pea protein production capacity is limited, and the company aims to enhance its market position through product development and capacity expansion [4] Group 6: Technology and Competitive Advantage - The company possesses advanced extraction technologies for pea protein, including acid slurry, dry, and new dry methods, with the new dry method being proprietary and addressing common taste issues [4][5] - The company operates a circular economy model, producing over 10 products from a single pea, which is unique in the industry and allows for a cost reduction of approximately 30% compared to competitors [5] - The company is the largest producer of pea protein globally, with an annual capacity of about 70,000 tons, accounting for approximately 40% of the global market [4][5]

Group 1: Financial Performance - The company achieved a profit increase of 83.56% in the first three quarters of 2020, despite a revenue decline of 10.01% due to optimization of product structure and reduction of low-margin businesses [2] Group 2: Production Capacity and Technology - The company has a total production capacity of 70,000 tons for pea protein, with approximately 60% from fermentation technology, 30% from dry processing, and 10% from new dry processing [3] - The new dry processing technology combines the advantages of both fermentation and dry processing, allowing for broader product applications [3][4] Group 3: Product Strategy - The company plans to double its production capacity for vermicelli over the next two years, converting more pea starch into vermicelli to enhance overall gross profit margin [3] - The company aims to improve the added value and gross profit margin of pea protein by focusing on functional research and providing specialized formulations for different application areas [4] Group 4: Market Position and Competitive Advantage - The company holds a leading position in the industry for pea protein, vermicelli, and dietary fiber production, with a comprehensive technology advantage and a cost structure approximately 30% lower than competitors [5] - High-end pea protein is priced around $3,000 per ton, while low-end pea protein ranges from $1,000 to $1,200 per ton [4]