春雪食品：新增调理品生产线11月投产 加速产品出海

Core Viewpoint - The white feather broiler industry is experiencing a downturn in 2025, with prices dropping to "10 yuan for 3 jin" and "10 yuan for 4 jin," prompting companies like Chunxue Food to seek high-end market opportunities and expand internationally [1][2] Company Performance - Chunxue Food reported a net profit increase of 1320.44% year-on-year for the first three quarters of 2025, with third-quarter profit growth significantly outpacing revenue growth [1] - The increase in profit is attributed to a rise in export product revenue and a decrease in the costs of purchased chick seedlings and feed materials, leading to improved profit margins [1] Strategic Initiatives - The company is focusing on enhancing fresh product sales management and increasing the value of its chicken products by entering high-end retail channels such as Sam's Club and certain supermarkets [1] - Chunxue Food aims to adjust its product structure to improve the quality of chicken products and increase the sales proportion of high-value-added products [1] Industry Trends - The industry is undergoing a transformation from scale expansion to value reconstruction, shifting from "quantity increase" to "quality change," entering a period of deep reshuffling and integration focused on "quality and branding" [2] - The company plans to advance towards the high-end of the industry chain, facing more "value competition" rather than "price competition" [2] Production Capacity - Chunxue Food is installing two new processing lines for prepared products, which are expected to be operational by the end of November, increasing the annual production capacity for prepared products to 136,000 tons [2] International Market Expansion - The company is accelerating its "brand going global" strategy, focusing on expanding into European and Southeast Asian markets to promote brand internationalization [2] - Chunxue Food is currently engaged in sales activities in Southeast Asia but has no plans to establish production and sales centers or factories there [3] Export Performance - According to customs data, China's chicken meat exports reached 613,800 tons from January to October 2025, marking a year-on-year increase of 37.7%, with October alone seeing exports of 70,800 tons, a record high [3]