北京商报讯（记者 郭秀娟 实习记者 王悦彤） 8月7日，西麦食品在投资者互动平台回答投资者提问称， 贺州西麦西一生物科技有限公司是公司新投资设立的企业，未来将专注于大健康类产品的开发。公司在 前期已推出红参肽饮、胶原蛋白肽饮产品。未来公司将充分融合公司的竞争优势和合作伙伴的尖端技 术，研发更多的功能性健康食品，构建药食同源发酵健康产品矩阵。 ...

Core Viewpoint - Ximai Foods, known as "China's Oatmeal First Stock," has outlined its plans for the next 3-5 years, focusing on health food centered around oats and expanding its market share, particularly in the cold oatmeal sector and the broader health industry [1][3] Group 1: Company Performance - Ximai Foods aims to achieve a 15% revenue increase by 2025, despite facing a declining net profit margin over the past five years [1][3] - From 2019 to 2024, Ximai Foods' revenue grew from 973 million to 1.896 billion, while net profit margin decreased from 16.18% to 7.02% [3][4] Group 2: Cost Pressures - The company is experiencing significant cost pressures, particularly due to rising raw material costs, with a 27.13% increase in operating costs in 2024, outpacing the 20.16% revenue growth [4][5] - Ximai Foods relies heavily on Australian oats, which constitute about 90% of its raw material supply, making it vulnerable to price fluctuations and supply issues [4][5] Group 3: Strategic Initiatives - To mitigate costs, Ximai Foods plans to increase the use of domestic oats and is developing a stable supply chain, including a new production base in Zhangbei [4][5] - The company is diversifying its product offerings by entering the health sector, launching various protein powders and beverages, although these new products currently contribute a small percentage to total revenue [6][7] Group 4: Market Challenges - The overall oatmeal market is experiencing slowed growth, with a significant decline noted in 2022, prompting Ximai Foods to seek new growth avenues in the health sector [6][7] - The competitive landscape in the health market is intense, with established players dominating, posing challenges for Ximai Foods as a new entrant [7][8]

Core Viewpoint - Ximai Food, known as "China's Oatmeal First Stock," is facing significant challenges including cost pressures, food safety issues, and sluggish growth in new business segments despite achieving record revenue and profit in 2024 [1][2][10]. Financial Performance - In 2024, Ximai Food reported a record revenue of 1.896 billion yuan, a year-on-year increase of 20.16%, and a net profit of 133 million yuan, up 15.36% [1]. - The gross profit margin fell to 41.33%, a decrease of 3.22 percentage points year-on-year, with operating costs rising by 27.13%, significantly outpacing revenue growth [2]. - The net profit margin has declined from 16.18% in 2019 to 7.02% in 2024, indicating a nearly halved profit margin over five years [2]. Cost Management Issues - The company relies heavily on imported oats from Australia, which has led to increased raw material costs due to rising prices [2]. - Management has acknowledged the challenge of rising raw material costs and plans to optimize supply chain management and improve procurement efficiency, although specific measures remain unclear [2]. Food Safety Concerns - Ximai Food has faced multiple food safety issues, including five instances of mold contamination over the past 12 years, raising concerns about its quality control systems [3][4]. - In 2024, a batch of high-calcium milk oatmeal was found to have mold levels exceeding safety limits by over ten times, attributed to poor storage management by a distributor [3]. New Business Development - The company is attempting to diversify into the health market, with health-related product revenue growing by 23.89% to 136 million yuan in 2024, but this only represents 7.18% of total revenue [10]. - The international business is still in the exploratory phase, with no specific revenue contributions disclosed despite efforts to enter multiple overseas markets [11]. Production Capacity and Utilization - Ximai Food's designed production capacity for oatmeal products increased to 131,000 tons in 2024, but actual utilization was below 70%, indicating potential overcapacity issues [2][11]. - The company is expanding its production capabilities with new projects aimed at improving supply chain stability and product quality [12]. Future Outlook - The company has set ambitious revenue growth targets of 15%, 32.25%, and 52.0876% for the years 2025 to 2027, based on 2024 revenue [12]. - However, the combination of food safety crises and cost pressures poses significant challenges to achieving sustainable growth [13].