HAI TIAN(SH:603288) Sou Hu Cai Jing·2025-08-08 01:46Core Viewpoint - Haitian Flavor Industry has launched a global public offering, aiming to list on the Hong Kong Stock Exchange on June 19, marking the largest IPO in the consumer sector this year [1] Group 1: Company Performance - Since its A-share listing in 2014, Haitian's revenue has grown from 9.8 billion to 26.9 billion, an increase of 174% over ten years [3] - In 2024, despite economic pressures, Haitian achieved a revenue of 26.9 billion, a year-on-year growth of 9.53%, and a net profit of 6.344 billion, up 12.75% [3] - In Q1 2025, the growth trend continued with revenue of 8.315 billion, a year-on-year increase of 8.08%, and a net profit of 2.202 billion, up 14.77% [3] Group 2: Market Position - In 2024, Haitian held a 4.8% market share in China's seasoning industry, more than double that of the second-place competitor, with soy sauce and oyster sauce sales ranking first globally [3] - The long-term performance of Haitian in the A-share market has validated its value as a rare high-quality investment target, attracting international investors [3] Group 3: Global Strategy and Product Development - Haitian aims to advance its globalization strategy through this IPO, capitalizing on the explosive growth in international demand for seasoning products driven by the spread of Chinese cuisine [3] - The company has launched several targeted products in line with global health consumption trends, including organic soy sauce and gluten-free soy sauce, which have received multiple certifications [5] - Haitian is focusing on building a global R&D system, including attracting international talent and conducting overseas collaborations, which signifies an upgrade in its R&D capabilities [5] Group 4: Industry Outlook - The seasoning industry is characterized by essential demand and high user loyalty, combined with the dual benefits of consumption upgrades and the internationalization of Chinese cuisine, which will strengthen the competitive advantage of leading companies [5] - With a solid industrial foundation, leading R&D capabilities, and forward-looking global layout, Haitian is expected to further expand its market share during industry consolidation, creating long-term value for investors [5]