宝立食品(603170)：B端定制化龙头与C端品牌双轮驱动 开启食品供应链新篇章

Group 1 - The company is transforming from a single OEM model to a dual-driven BC model, establishing a leading position in the industry through strategic transformation and R&D-driven initiatives [1] - Since its establishment in 2001, the company has leveraged its technical expertise in food additives to become a comprehensive flavor and product solution provider, covering compound seasonings, light cooking solutions, and beverage dessert ingredients [1] - The company focuses on R&D innovation to meet the rapidly evolving needs of B-end clients, while enhancing C-end brand reach through online content and offline supermarket experiences, creating a synergistic development pattern [1] Group 2 - The company has successfully transitioned from B-end supply chain to C-end brand operation by acquiring Kitchen Affin and launching "Chef Pre-mixed Sauces + Full Combination" products, achieving a leading position in the instant pasta segment [2] - The company's online sales performance during the Double Eleven shopping festival showed over 40% year-on-year growth, moving from eighth to second place in the food category, indicating significant improvements in market share and brand strength [2] - The company plans to introduce high-cost performance and clean label products, targeting refined consumer groups while achieving full price range coverage [2] Group 3 - The company is expanding from a restaurant supply chain to a food supply chain, focusing on supermarkets and convenience store channels, which are evolving towards consumer demand-driven selection models [3] - The company is expected to benefit from the transformation of supermarket channels due to its strong product innovation capabilities and experience serving large B-end clients [3] - Revenue forecasts for 2024-2026 are projected at 2.601 billion, 2.971 billion, and 3.425 billion yuan, with net profits of 237 million, 282 million, and 345 million yuan respectively, indicating a favorable growth outlook [3]