Anjoy food(603345)2024-07-10 09:25Business Strategy and Market Focus - Focus on expanding the B2B (Big B) channel, targeting large chain restaurants and retail platforms [1] - Customized product development for B2B clients, leveraging decentralized R&D across factories [1] - Aim to capitalize on the increasing demand for customized products in the foodservice industry [1] - Plan to make the volcanic stone sausage series a top-tier product within three years [2] Financial Performance and Dividend Policy - 2023 annual dividend payout ratio was 53.17% of net profit attributable to shareholders [2] - Proposed mid-year cash dividend for 2024, subject to profitability and sufficient retained earnings [2] - Revised minimum cash dividend ratio in the Articles of Association from 20% to 40% [2] Product Development and Branding - Launched A and B categories of volcanic stone sausages, along with new products like grilled fish sticks and roasted fish eggs [2] - Implemented a "three-pronged" marketing strategy for sausages in BC supermarkets, wet markets, and foodservice outlets [2] - Continued brand upgrade through premiumization, with plans for regional-specific fresh-lock packaging versions [3] - Adopted a "point-surface combination, up-down movement" strategy for product positioning and regional market penetration [3] Raw Material Outlook - Stable fish paste supply and pricing due to early freshwater fish paste industry layout [3] - Slight price fluctuations in chicken, with low-price stockpiling strategy in place [3] - Rising trend in domestic and imported pork prices, with locked-in orders for volcanic stone sausage production [3] - Increased competition in the crayfish market due to oversupply and weak pricing environment [3] - Stable prices for soybean protein, oils, packaging materials, and flour [3] Investor Relations - Conducted multiple investor meetings and conference calls in June 2024 with various asset management firms and institutional investors [5][6][7][8]