Investment Rating - The report indicates a positive outlook for the egg processing industry, particularly highlighting the potential of Oufu Egg Industry as a key player in the market [1] Core Viewpoints - The egg processing industry in China is still in its early stages, with only 5%-7% of eggs being processed compared to 50% in Japan and 33% in the USA, indicating significant growth potential [2][13] - The market for egg products has seen a steady increase, with a compound annual growth rate (CAGR) of 11.8% from 2011 to 2021, driven by the industrialization of food and the rise of chain restaurants [2][13] - Oufu Egg Industry focuses on the B-end market, providing solutions such as liquid eggs and egg powder to industrial clients, while also expanding into C-end products like egg white beverages [2][19] - The company is projected to achieve revenue of 906 million yuan in 2024, with a year-over-year growth of 5.65% in net profit [24][28] Summary by Sections Market Overview - The egg product market in China is expanding, with liquid eggs being the core growth driver, achieving a CAGR of 12.0% from 2011 to 2021 [13][16] - The demand for high-quality protein products is increasing, with 72.7% of consumers prioritizing protein type over quantity when choosing protein sources [5][8] Company Analysis - Oufu Egg Industry has a robust product line, including various types of liquid and powdered eggs, and is actively developing functional products to meet changing consumer demands [18][19] - The company aims to tap into the functional beverage market with its egg white drink, which offers high protein content with low calories, appealing to health-conscious consumers [22][19] Financial Performance - Oufu Egg Industry's revenue is expected to reach 906 million yuan in 2024, with a net profit of approximately 45.6 million yuan, reflecting a CAGR of 2.19% in revenue and 26.57% in net profit from 2021 to 2024 [24][28] - The overall market capitalization of the North Exchange consumer service sector increased from 123.9 billion yuan to 126.1 billion yuan, indicating positive market sentiment [30][36]