Core Insights - The 113th Autumn National Sugar and Wine Commodity Fair will be held in Nanjing from October 16 to 18, 2025, showcasing numerous quality brands and innovative products, with Yihai Kerry's Jinlongyu Fengchu presenting multiple new products in the convenient food sector [1] - The focus of Yihai Kerry Fengchu at the fair will be on the convenience food segment, highlighting a diverse range of star products including ready-to-eat rice, instant pasta, low-purine congee, and versatile sauces [1][3] Product Highlights - Jinlongyu Fengchu's convenient rice product is designed with a "minimalist formula," using only high-quality rice and pure water, with a shelf life of over 9 months at room temperature, and can be prepared in just 2 minutes in a microwave [3] - The company continues to innovate in the convenient rice category by introducing multi-grain rice for health-conscious consumers and low-GI rice for those seeking lighter meal options [3] - The new instant pasta product offers a significant innovation in preparation, allowing consumers to enjoy a meal in just 2 minutes, suitable for various scenarios such as outdoor activities and quick lunches [5] Additional Offerings - The collaboration between Zhi Can Fengchu and Yihai Kerry has resulted in the launch of various seasoning products, including hot pot and regional flavor sauces, aimed at helping consumers recreate authentic Sichuan and Chongqing flavors at home [7] - The low-purine seafood congee is designed for health-conscious individuals, featuring seafood and rice cooked to retain flavor while controlling purine content, making it suitable for various meal occasions [7] Business Development - During the fair, Yihai Kerry Fengchu will also open a rental channel for clients to join its central kitchen industrial park, which includes locations in multiple cities, offering shared resources and collaborative advantages for participating businesses [10] - The company aims to explore new trends in convenient dining and foster cooperative development with industry partners at the event [10]

Summary of the Conference Call for Baoli Foods Industry Overview - The Western fast food market continues to expand, with the number of outlets surpassing 300,000, and the compound seasoning market is expected to reach 26 billion yuan by 2024 [2][3] - The convenience food market, valued at 700 billion yuan, is being entered by Baoli Foods through the acquisition of Airbus Pasta, with new products like instant pasta expected to contribute nearly 10 million yuan in revenue by 2025 [2][4] - The fast food industry is experiencing increased chain rates, with leading companies like Wallace and KFC accelerating expansion, providing growth momentum for the compound seasoning market [2][3] Company Performance B-end Market - Baoli Foods has shown strong performance in both B-end and C-end markets, with B-end focusing on customized compound seasoning, benefiting from high supply chain and R&D barriers [3][12] - The Western fast food market is projected to be approximately 300 billion yuan in 2024, growing over 10% year-on-year, with compound seasoning accounting for about 20% of this market [3][11] - Baoli Foods has achieved nearly 40% revenue growth from Yum China, with plans to expand small B-end clients [3][12] C-end Market - The C-end business is primarily in the convenience food sector, projected to reach a trillion yuan by 2026, driven by changing consumer habits towards convenience [13] - The Airbus brand is actively promoting its products through various channels, with a marketing expense ratio of about 15% in 2024 [14] - New product launches, including instant pasta and pizza, are expected to enhance brand presence and operational efficiency [14] Strategic Initiatives - Baoli Foods positions itself as an innovative food solution provider, extending its offerings to include beverages, desserts, and baking solutions [5] - The company has achieved a compound annual growth rate of nearly 30% from 2018 to 2023, despite challenges during the pandemic [5] - The company is expanding its offline retail channels, including partnerships with Costco and Hema, and has successfully entered the Sam's Club supply chain [5] Market Trends - The restaurant industry's chain rate is increasing, with a significant rise in registered new dining enterprises and a doubling of closure rates, indicating intensified market competition [8] - The Western fast food sector is leveraging low-price strategies to penetrate deeper into the market, with KFC and McDonald's focusing on lower-tier markets [7][9] Future Outlook - Baoli Foods anticipates double-digit growth in B-end business, with new product revenue contributing about 20% [15] - The company expects total revenue to reach 3 billion yuan in 2023, with a profit forecast of 270-280 million yuan, reflecting an 11% year-on-year growth [16] - The overall outlook for Baoli Foods remains positive, with a current valuation of approximately 20 times earnings [16]