Hiroad(300915)2025-04-25 07:28Group 1: Sales Performance - The company achieved a 13.89% year-on-year sales growth in 2024, with dairy products contributing the most to revenue, accounting for 92.71% of total sales [1] - The sales figures for dairy products include: cream sales of 415.07 million CNY, plant-based cream sales of 277.11 million CNY, and liquid cream sales of 127.43 million CNY, representing 41.18%, 27.49%, and 12.64% of cream revenue respectively [1] Group 2: Product Development and Innovation - The company launched several new products, including "Lianru Aonong Liquid Cream Pro" and "Mousse Special Liquid Cream," while continuously upgrading popular products like "Lianru 70pro Liquid Cream" [1] - The focus on zero hydrogenated oils, zero trans fats, and customized product solutions has led to the introduction of large-scale products to meet diverse customer needs [2] Group 3: International Market Expansion - The company has established distributors in Thailand, Indonesia, and Vietnam, and set up sales subsidiaries in the Philippines, Turkey, and Malaysia, with plans to expand into markets like Russia and Singapore [3] - Overseas business revenue reached 216 million CNY, reflecting a 16.78% year-on-year growth, supported by the commissioning of a new production line in India with a capacity of 22,000 tons per year [3] Group 4: Financial Performance - The net cash flow from operating activities increased by 42.56% year-on-year, amounting to 172 million CNY, primarily due to increased sales and government subsidies of 48.5 million CNY recognized as deferred income [3] Group 5: Future Outlook - The company plans to optimize product structure and strengthen marketing networks, focusing on health foods and plant-based strategies to enhance market competitiveness [5] - The outlook for 2025 includes improving gross margins through better supply chain management and flexible procurement strategies to stabilize raw material costs [5]