立高食品(300973) - 2025年5月26日投资者关系活动记录表

Group 1: Product Development and Sales Performance - The first UHT cream product, 360pro, launched in mid-2023, has achieved good sales results, with total sales for the UHT product line reaching nearly 500 million yuan in 2024, nearly doubling year-on-year growth [2][4] - The company plans to expand its cream product matrix across high, medium, and low tiers [2][4] - The company is exploring the snack channel, which is still in the early stages, requiring adaptation to long shelf-life products [2][3] Group 2: Production and Supply Chain - The second cream production line has been designed to accommodate multiple products, allowing for co-production without significant capital expenditure unless capacity becomes insufficient [4][5] - The company has established production bases in Huzhou, Zhejiang, and Xinxiang, Henan, enhancing its national distribution capabilities [9][10] Group 3: Market Opportunities and Channel Strategy - The baking market is still in the popularization stage, with significant opportunities in third and fourth-tier cities, where various baking formats are emerging [5][6] - The company sees the restaurant channel as a major opportunity for future growth, alongside traditional retail channels [6][7] - The company will continue to focus on traditional baking channels while investing more resources in the restaurant and supermarket sectors [8][9] Group 4: Competitive Landscape and Product Positioning - The company emphasizes the importance of providing comprehensive services alongside products, as B2B clients are knowledgeable and demand quality [6][8] - There is a recognition that traditional competitors have made significant efforts in product quality and diversity, with some focusing on niche markets rather than new product introductions [7][8] Group 5: Regional Growth and Future Planning - The company has seen significant revenue growth outside of South China, aligning with its national expansion strategy [9][10] - Future revenue targets will be supported by the company's logistics capabilities and production base distribution [9][10]