拟13亿赴澳洲建厂，三全食品海外寻增

Core Viewpoint - Sanquan Foods plans to establish a wholly-owned subsidiary in Hong Kong and subsequently invest approximately AUD 280 million (around RMB 1.3 billion) to build a production base in Australia, aiming to enhance its global strategic layout [2][3]. Investment and Expansion - The investment will account for 30% of the last year's audited net assets and will be used for setting up and operating overseas companies, purchasing fixed assets (including factory purchases, R&D center construction, equipment procurement, fully automated cold storage construction, and cold chain logistics vehicles), infrastructure renovation, marketing system development, and working capital [2]. - The primary target markets for this overseas expansion are Australia, New Zealand, and Southeast Asia, which are characterized by high consumer spending and low competition density, providing significant growth potential [3]. Financial Performance - In 2023, Sanquan Foods experienced a revenue decline of 5.09% and a net profit decrease of 6.55%, with further declines projected for 2024, where revenue and net profit are expected to drop by 6% and 27.64%, respectively [3][4]. - The company's main products, including dumplings, tangyuan, and zongzi, saw revenue declines of 15.74% and 5.84% in 2023 and 2024, respectively, with gross margins also shrinking [4]. Market Trends - The domestic frozen food market is undergoing structural changes, with traditional staple categories facing pressure while niche snack categories are emerging [4]. - In 2024, only three out of eleven listed frozen food companies achieved both revenue and net profit growth, indicating a challenging market environment [4]. Industry Insights - Many frozen food companies are increasingly focusing on overseas markets to capture growth opportunities, with examples including Anjuke Foods and Huifa Foods, which have successfully entered international markets [5][6]. - Experts suggest that establishing production bases abroad can help companies control supply chains and ensure product quality, although initial investments are high and the payback period is long [6].