Company Overview - Jiajia Food Group Co., Ltd. was established in 1996 and listed on the Shenzhen Stock Exchange in January 2012, recognized as the first listed company in its locality and dubbed "China's Soy Sauce First Stock" [1]. - The company focuses on the production and sales of soy sauce, vegetable oil, vinegar, chicken essence, oyster sauce, cooking wine, and monosodium glutamate, with its core products being "Jiajia" soy sauce and "Pan Zhong Can" vegetable oil [1]. Recent Business Performance - As of January 31, 2023, the company announced a decline in overall revenue due to the ongoing impact of the pandemic and the disruption of traditional sales channels by new retail channels, leading to a reduction in sales income from traditional channels [2]. - The continuous high prices of raw materials have increased procurement and logistics pressures, resulting in a decrease in overall gross profit margin [2]. Strategic Adjustments for 2023 - The company plans to promote high-margin products and strengthen the sales of low-salt and zero-additive mid-to-high-end product lines [2]. - It aims to explore new markets and models, deepen its presence in the catering channel, and enhance its new retail business while maintaining a dual online and offline approach [2]. - To alleviate cost pressures, the company will implement refined management practices, optimize product structure, and enhance the management and incentives for business personnel [2]. Product Development - The zero-additive product line includes items with 0% added sugar, 0% added genetically modified defatted soybeans, 0% added preservatives, and 0% added flavoring agents, targeting the health-conscious market [2]. - The company is focusing on high-margin products and plans to enhance the design and market acceptance of its zero-additive series [2]. Sales and Marketing Strategy - The marketing strategy for 2023 includes segmenting and positioning high-margin products, promoting low-salt and zero-additive products, and stabilizing traditional channels while breaking into emerging channels [2]. - The company has refined its sales personnel evaluation criteria, focusing on financial, management, process, and execution indicators to enhance control and motivation [2]. Cost Management - The company is addressing cost pressures by shifting product focus towards high-margin items, controlling raw material costs, and enhancing digital procurement processes [4]. - It aims to improve production efficiency and reduce energy consumption to uncover cost benefits [4]. New Retail Initiatives - The company is innovating new business models and partnerships in its new retail channels, currently selling on platforms like Tmall, JD.com, and Douyin [5]. - The sales channels primarily rely on traditional distributors, with a focus on expanding into the new retail and catering sectors [6].

Group 1: Company Overview and Financial Performance - The company, 加加食品, provided a brief overview of its operational performance in the first half of 2014 [1] - As of the end of June 2014, the sales revenue for the "原酿造" soy sauce product reached nearly 10 million yuan [2] Group 2: Product Development and Market Strategy - The "原酿造" soy sauce series is a high-quality product with a fermentation period expected to extend to 12 months, priced around 25 yuan [2] - The mid-to-high-end "原酿造" soy sauce, with a 6-month fermentation cycle, aims to promote soy sauce consumption into the 10 yuan era [2] - The company has focused on promoting the "原酿造" soy sauce through its top 300 distributors to establish model markets [2] Group 3: Product Classification and Sales Proportions - The sales ratio of light soy sauce products is slightly higher than that of dark soy sauce, with ongoing adjustments to product tiers to enhance profitability [3] - The company anticipates that the proportion of light and dark soy sauce will continue to evolve as it promotes the "淡酱油" strategy [3] Group 4: Future Prospects and Strategic Planning - The tea seed oil project is expected to commence production by the end of December 2014, with a focus on market cultivation and channel development [4] - The company aims to refine its tea seed oil offerings and compete with larger edible oil enterprises by emphasizing high-quality products and services [4] - The tea seed oil project is seen as a significant strategic initiative for the company's plant oil industry development, with a projected rapid growth in the next 3-5 years [4]

编号：2015-02 证券代码：002650 证券简称：加加食品 加加食品集团股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------------|-----------------------------------|---------------------------------------------------------------------------------------------| | 投资者关系 \n活动类别 | ■ \n□ \n□新闻发布会 □路演活动 \n■ | 特定对象调研 □分析师会议 \n媒体采访 □业绩说明会 \n现场参观 □其他 （请文字说明其他活动内容） | | 参与单位名称 | | 海通证券闻宏伟、成珊，瑞银证券黄肇蕾，巴沃资产张泰琳，晟 | | 及人员姓名 | | 贝乐投资周觅，财富证券印磊、傅霆。 | | 时间 | 2015 年 12 月 17 | 日 | | 地点 | 公司会议室，公司募投项目厂区 | | | | | | | 上市公司接待 人员姓名 | 董事会秘书彭杰 | | | | | | | ...

Group 1: New Product Promotion - The company focuses on a "big single product" strategy, launching "original brewed" soy sauce in April, with sales reaching nearly 20 million yuan by the end of September [1][2] - The initial promotion targets the top 300 distributors to establish model markets, aiming to transition consumers towards healthier soy sauce options [1][2] Group 2: Market Expansion and Production Capacity - The company is reallocating some low-end product capacity to produce high-end products with longer fermentation cycles, addressing current production capacity limitations [2][3] - Successful market experiences in Guangxi will be replicated in Hunan and Sichuan for "Noodle Fresh" soy sauce, with expectations for improved performance [2] Group 3: Strategic Focus and Mergers - The "big single product" strategy emphasizes high-margin products like "original brewed" and "Noodle Fresh" soy sauce to enhance competitive capability [2] - The company maintains a cautious approach to mergers, focusing on strategic alignment rather than accumulating unrelated businesses [2][3] Group 4: Plant Oil Business Development - The plant oil segment is currently small, with plans to focus on tea seed oil as a new growth point, aiming to establish a "healthy oil" brand [3] - The company anticipates significant growth in the tea seed oil market within 3-5 years, driven by increased consumer recognition and demand [3] Group 5: Shareholding and Future Plans - The controlling shareholders have no immediate plans to reduce their holdings following the lifting of restrictions on shares [3]

Group 1: Company Overview and Strategy - The chairman introduced the company's history and strategic planning focused on innovation to seize industry opportunities [1] - The company is currently building channels to support future operational strategies, emphasizing extensive distribution and promotional activities [1][2] Group 2: Performance and Market Position - The company’s performance has not met industry expectations due to various factors, including delayed capacity expansion and market promotion challenges [2] - Competitors like Hai Tian and Chu Bang have performed better due to earlier capacity expansions, allowing for aggressive market promotions [2] Group 3: Product Development and Market Adaptation - The company is adjusting its product structure to focus on high-end products, reallocating some low-end production capacity to support longer fermentation cycles [2] - Although production volume has not increased significantly, the focus on high-margin products has led to improved gross margins [2] Group 4: Future Outlook and Investment - The company plans to allocate more resources to channel construction and terminal promotions in Q4, expecting positive results from three years of efforts combined with new capacity releases [2] - The depreciation costs from new investment projects will exert short-term pressure, but the anticipated revenue growth from these projects will mitigate long-term impacts on performance [3] Group 5: Competitive Strategy - The company aims to differentiate itself through innovation in product categories, as traditional quality standards and pricing in the soy sauce market are transparent and competitive [3] - Emphasizing the importance of intellectual property protection to create competitive barriers, the company believes innovation is key to success [3]