SEAMILD FOODS(002956)2024-11-01 02:17Group 1: Financial Performance - In Q3 2024, the company's revenue reached 460 million CNY, a year-on-year increase of 6.47%, while net profit grew by 53.49% [2] - Cumulative revenue for the first nine months of 2024 was 1.433 billion CNY, representing a year-on-year growth of 26.49%, with net profit increasing by 17.13% [2] - All product categories, including pure oats, compound oats, and cold food oats, experienced double-digit growth in the first three quarters [2] Group 2: Mergers and Acquisitions - The acquisition of Desai Kanggu has shown some sales deviations from expectations due to slower-than-anticipated capacity ramp-up and product development [3] - Desai Kanggu is currently focusing on improving product quality and production efficiency, with expectations for steady growth in the future [3] Group 3: E-commerce Strategy - The company views e-commerce as a strategic channel and plans to continue investing in it despite a temporary reduction in spending in Q3 [4] - The company anticipates increased e-commerce spending in Q4, aligning with the traditional sales peak season [4] Group 4: Offline Channel Growth - The stable growth in offline channels is attributed to deepening market penetration and resource allocation towards snack stores [4] - The company aims to enhance sales in mid-tier and lower-tier snack brands to boost overall sales [4] Group 5: Product Development - The compound oats category has surpassed pure oats due to product upgrades and increased consumer acceptance [4] - The company is exploring new product forms, including oat milk, and has initiated market trials to gauge consumer response [5] Group 6: Health Products - The company has launched health products, including protein powder and peptide drinks, with significant sales volume for protein powder [5] - Recent launches include small molecule peptide drinks, which have shown promising sales progress [5]