YanKershop(002847)2024-10-29 05:58Group 1: Financial Performance - The company's Q3 revenue reached 1.402 billion CNY, representing a year-on-year growth of 26.20% [1] - The revenue from the "Big Demon King" product line was 551 million CNY, with a year-on-year increase of 38.97% [1] - The snack konjac segment achieved a revenue growth of 104.43% in the first three quarters [1] Group 2: Product Development and Strategy - The company launched two new product lines, "Big Demon King" and "Egg Emperor," in October 2023 and March 2024, respectively [1] - The "Big Demon King" sesame flavor products accounted for 55% of the konjac snack sales in the last month [2] - The "Egg Emperor" products contributed to 60% of the egg snack sales in the last month [2] Group 3: Channel Performance - Q3 channel growth rates ranked from highest to lowest: high-potential member stores > snacks > quantitative circulation > e-commerce (35%) [2] - Direct sales and bulk channels showed a contraction, while the snack mass channel experienced growth [2] Group 4: Profitability and Cost Management - The net profit margin and gross profit margin saw a decline due to tax rate impacts and changes in channel revenue composition [2] - The sales expense ratio for Q3 2024 (excluding share-based payments) was 11.41%, an increase of 0.46 percentage points year-on-year [2] - The cost of self-raised quail eggs was approximately 10.0-10.5 CNY/kg, compared to 11 CNY/kg for externally sourced eggs, with a yield advantage of 2%-5% for self-raised eggs [3]