Core Viewpoint - Several listed companies in the snack food sector have reported positive half-year results, indicating a robust growth trend in the industry, particularly for Ganyuan Foods, which saw significant revenue and profit increases in the first half of 2023 [1][4]. Company Summary - Ganyuan Foods achieved a revenue of 826 million yuan in the first half of 2023, representing a year-on-year growth of 34.57%, and a net profit of 120 million yuan, up 190.92% [1][2]. - The company has optimized its product structure and expanded both online and offline channels, enhancing collaboration with snack wholesale stores and supermarkets, which has opened new growth avenues [2]. - Ganyuan Foods' sales model is primarily based on distribution, accounting for 82.31% of revenue, while e-commerce contributed 15.05% [2]. - The company has established a comprehensive marketing channel with over 1,000 stable distributors, covering various retail environments, and has entered major e-commerce platforms to increase brand awareness [2]. Product and Regional Performance - The mixed nuts and bean products series generated the highest revenue for Ganyuan Foods, totaling 230 million yuan, followed by green pea, sunflower seed, and broad bean series [3]. - The East China region is the most penetrated market for Ganyuan Foods, contributing nearly 20% of total revenue with a year-on-year growth of 47.37%. The North China market showed the fastest growth at 50.77% [3]. Industry Overview - The snack food industry is experiencing a positive trend, with companies like Ganyuan Foods benefiting from improved product matrices and channel expansions, leading to sustained revenue growth [4]. - Other companies in the sector, such as Yanjinpuzi, reported significant revenue increases, with Yanjinpuzi achieving 1.894 billion yuan in revenue, a 56.54% increase, and a net profit of 246 million yuan, up 90.69% [4]. - The industry is undergoing a transformation through various distribution channels, with the rise of snack wholesale stores expected to continue driving growth for the next 3 to 4 years [5].