SHUANGHUI(SZ:000895)2024-08-14 12:06Sales Performance - In the first half of 2024, the company's meat product sales in new channels such as membership supermarkets, snacks, and convenience stores increased by 40% year-on-year, driven by the expansion of new channels and the growth in the number of new outlets [1] - The online e-commerce business also achieved double-digit growth in both sales and revenue year-on-year [1] Measures for Sales Growth - The company will continue to strengthen the development of new channels such as low-temperature, quick-frozen, and online sales, while expanding its customer network [1] - The company plans to accelerate the development of blank outlets and enhance network layout through a "regional operation and cross-regional authorization" model [1] - There will be a focus on improving market management and service levels, increasing market support, and enhancing terminal operation quality to participate more effectively in market competition [1] Inventory and Profit Outlook - As of the end of Q2 2024, the company's frozen product inventory decreased compared to Q1 and is at a medium-high level, with expectations for positive contributions to business operations in the second half of the year [3] - In Q2 2024, the profit from fresh products accounted for approximately 70%, while frozen products accounted for about 30% of the total profit from fresh product business [3] Challenges and Market Conditions - The number of distributors for fresh products decreased year-on-year due to intense low-price competition in certain channels, leading to a focus on controlling sales in low-margin and poorly performing channels [3] - The decline in external sales and profits of meat products in Q2 2024 was attributed to sluggish consumption, intense competition in the slaughtering industry, and rising pork prices, which suppressed pork consumption [3] - The company experienced a year-on-year decrease in meat imports in the first half of 2024 due to factors such as price differences between domestic and foreign markets [3] Livestock Operations - The company reported a year-on-year decrease in live pig output in the first half of 2024, but significant improvements in breeding indicators and a reduction in losses were noted [3] - The company plans to continue enhancing the management of the pig farming sector and improve breeding performance in the second half of the year [4] - There are currently no plans for further capacity expansion in the pig farming and poultry sectors, with a focus on improving existing project performance and reducing costs [5]