Core Viewpoint - The company reported a decline in revenue and net profit for 2024, attributed to increased market competition and changes in consumer behavior, leading to a challenging operating environment [4][8]. Financial Performance - The company achieved a revenue of 1.868 billion yuan in 2024, a decrease of 1.71% year-on-year [4]. - The net profit attributable to shareholders was 84 million yuan, down 37.67% year-on-year. Excluding the impact of stock incentives, the net profit was 100 million yuan, reflecting a 31.99% decline [4]. Product Overview - The company provides customized and standardized semi-finished products primarily for the catering industry, categorized into four main types: fried, baked, steamed, and dishes [4][6]. - Sales of fried and baked products decreased due to competition and product lifecycle changes, while steamed products saw an increase in sales, particularly from the company's new product lines [4][6]. Market Dynamics - The rapid growth of chain restaurants has significantly increased the demand for standardized food ingredients, impacting the company's sales strategies [6]. - The company has restructured its product categories to better align with market trends and customer needs, resulting in a positive impact on sales for certain product lines [6]. Sales Strategy - The company employs both direct sales and distribution models, focusing on large B-end clients and chain restaurants [7]. - Direct sales to major clients increased by 4.34% year-on-year, with the number of major clients rising by 8.81% [7][8]. Competitive Environment - The overall restaurant consumption has become more rational, with consumers increasingly seeking value for money, prompting many restaurants to lower prices and exert pressure on suppliers [8]. - In response, the company has enhanced its sales force and implemented joint project service models to support distributors and expand market reach [8].
郑州千味央厨食品股份有限公司2024年年度报告摘要