Core Viewpoint - October Rice Field Group reported a significant increase in revenue and adjusted net profit for the fiscal year 2024, reflecting effective growth strategies and market adaptation [2][4]. Financial Summary - Total revenue reached RMB 5,745.3 million, an increase of approximately 18.0% compared to RMB 4,867.0 million in 2023 [3]. - Adjusted net profit rose from RMB 162.2 million to RMB 349.5 million, marking a growth of 115.5% [2][3]. - Adjusted net profit margin improved from 3.3% in the previous year to 6.1% in 2024 [2]. Growth Drivers - The revenue growth was attributed to structural optimization, product innovation, and channel transformation [4]. - High-end rice products accounted for 69.9% of total revenue, with rice product revenue reaching RMB 4,014.5 million [4]. - The company has been recognized for leading national sales of Northeast rice for five consecutive years and serving 130 million households in China [4]. Product Innovation - October Rice Field has shifted its corn product line towards health-oriented, convenient snack options, aligning with the "Healthy China 2030" strategy [5]. - The company launched over 30 new corn products, including corn sticks and various types of sweet corn, catering to diverse consumer preferences [5]. Sales Channel Transformation - The company has effectively transitioned from offline to online sales, leveraging e-commerce platforms such as JD.com and Pinduoduo [6]. - October Rice Field has established partnerships with nearly 100 modern supermarket chains and is exploring social e-commerce and community group buying opportunities [6]. Strategic Positioning - The company is focused on modernizing agriculture and enhancing food safety through its five production bases and regional centers [7]. - October Rice Field aims to integrate agriculture with processing and e-commerce, enhancing rural consumption and agricultural product distribution [8]. - The company is committed to building a comprehensive supply chain from farm to table, ensuring quality and safety for consumers [8].
十月稻田发布2024年业绩报告，稳中增效提质能力凸显