福建前首富交棒“80后”女儿，需面对业绩逐年下滑考验

Core Insights - Dali Food Group has officially transitioned to the second generation leadership with Xu Yangyang, daughter of founder Xu Shihui, taking over as president [1][2] - The company, founded in 1989, has seen a decline in performance, with revenue dropping from a peak of 222.94 billion yuan in 2021 to an estimated 180.7 billion yuan in 2024 [2][12] Leadership Transition - Xu Yangyang, born in 1983, has a strong educational background and extensive experience within the company, having worked her way up from grassroots positions to executive roles [4] - She played a key role in Dali's IPO in Hong Kong in 2015, which was the largest in the global consumer goods sector that year [4] - Xu Yangyang aims to drive the company from "1 to N" in terms of growth and transformation, contrasting with her father's focus on initial entrepreneurship [4][11] Company Performance - Dali Food's revenue has been on a downward trend since 2021, with a reported revenue of 199.57 billion yuan in 2022, marking a 10.5% decline year-on-year [12] - The company announced its privatization in 2023 due to poor stock performance, with shares dropping nearly 50% since the IPO [12] - The estimated revenue for 2023 is around 188.6 billion yuan, continuing the downward trend [12] Market Challenges - Dali Food faces significant challenges due to changing consumer preferences, with traditional products losing popularity [2][13] - The rise of health-conscious and differentiated snack brands has intensified competition, making it difficult for Dali to maintain its market position [13] - Issues with channel management and distributor relationships have emerged, leading to inventory problems and reduced trust among distributors [13][14] Strategic Focus - The company is expected to focus on digitalization, youth engagement, and international expansion to adapt to market changes [14] - Dali Food's historical success was built on a "copy and low-price" strategy, but this approach is becoming less effective in the current market landscape [7][13]