Core Viewpoint - The company achieved steady revenue growth and significant expansion in the prepared food sector, driven by its "key customers + distributors" strategy amidst fierce market competition [1][2]. Group 1: Financial Performance - The company reported a total revenue of 1.868 billion yuan and a net profit of 83.69 million yuan for the year [1]. - Direct sales revenue increased by 4.34% year-on-year, with the number of key customers rising by 8.81% [1][2]. - Revenue from frozen prepared dishes and other products surged by 273.39%, reaching 142 million yuan [1]. Group 2: Business Strategy - The company employs a dual-driven strategy of "key customers + distributors," with direct sales contributing 8.09 billion yuan, accounting for 43.29% of total revenue [2]. - The number of distributors increased to 1,953, with significant growth in customer numbers in both northern and southern regions [2]. Group 3: Research and Development - The company invested 23.74 million yuan in R&D, a 12.21% increase year-on-year, representing 1.27% of total revenue [2]. - The R&D team focuses on four product lines: staple foods, snacks, baked goods, and prepared dishes, launching new products tailored for various dining scenarios [2]. Group 4: Production Capacity - The company has a designed production capacity of 196,600 tons, with an actual capacity of 123,800 tons and an additional 84,000 tons under construction [2]. - New capacity is expected to alleviate production bottlenecks and support market share growth by 2026 [2]. Group 5: Future Outlook - For 2025, the company plans to focus on the "baked goods" and "frozen prepared dishes" sectors, enhancing e-commerce and key account supermarket channels [3]. - Continuous investment in product innovation, capacity reserves, and customer structure optimization is anticipated to strengthen the company's competitive advantage during industry consolidation [3].
千味央厨：营收规模稳健 预制菜收入大增273.39%