Haixin Foods (SZ:002702) Zheng Quan Shi Bao Wang·2025-04-27 09:10Core Insights - The company reported a revenue of 1.706 billion yuan for the year 2024, with significant growth in e-commerce and specialty channels, particularly in high-value products like abalone and frozen dishes [1][2] - The company launched over 1,700 new SKUs, enhancing product diversity and structure [1][3] E-commerce and Specialty Channel Performance - E-commerce revenue grew by 2.39% year-on-year, reaching 142 million yuan, driven by self-operated flagship stores on platforms like Tmall, JD, and Douyin [2] - Specialty channel revenue increased by 14.29% to 350 million yuan, accounting for 20.5% of total revenue, with abalone-based frozen dishes seeing over 60% growth [2] - The Dong'ou brand generated 303 million yuan in revenue, contributing 139 million yuan from new products, becoming a key growth driver [2] Capacity Expansion and R&D Achievements - The company made significant progress in optimizing production capacity, with new projects launched in its factories in Fujian and Shandong [3] - A new wholly-owned subsidiary was established in Hong Kong to facilitate overseas market expansion [3] - The company completed multiple R&D projects, resulting in 1,708 new SKUs and generating 297 million yuan in revenue from new products [3] - Focus on differentiated product development, emphasizing low-salt health and freshness preservation, to create a consumer-driven product matrix [3] Future Outlook - The company aims to enhance operational resilience amid intensified competition and cost fluctuations by focusing on brand, digitalization, and precision [3] - Continued emphasis on consumer demand will drive product innovation and market share growth during the transformation period in the frozen food industry [3]