JINZI HAM(SZ:002515)2022-11-22 03:01Group 1: Company Overview and Business Strategy - The company has rapidly developed its branded meat business since 2019, leveraging years of experience in the meat industry, a rich upstream supply chain, and a well-established downstream sales network [2] - The development strategy focuses on meat products, including various types of ham and sausages, to meet the personalized needs of new channels such as fresh e-commerce and chain restaurants [2] - The company aims to enhance brand value and expand its network marketing while strengthening offline markets [2] Group 2: Financial Performance and Inventory Management - As of the end of 2020, the company's inventory reached 640 million CNY, a significant increase from 220 million CNY at the beginning of the year, driven by a 152% year-on-year sales growth to 710 million CNY [2] - The increase in inventory is attributed to the expansion of business scale and the long production cycle of ham, which requires advance stocking [2] Group 3: Sales and Distribution Channels - The primary sales model is direct sales, supplemented by distribution, utilizing both online and offline channels [3] - Online sales are conducted through platforms like Tmall, JD.com, and Pinduoduo, while offline channels include restaurants, food processing, and direct stores [3] Group 4: New Product Development and Market Expansion - The company plans to launch new products such as hot pot ham, grilled meat ham, and various types of sausages, focusing on convenience and health [3] - The strategy includes promoting ham products in new consumption scenarios like hot pot and barbecue to increase frequency and volume of consumption [3] Group 5: Meat Trading Platform - The company operates a dedicated meat trading platform, "Meat Master," which connects global suppliers and domestic processing enterprises, providing efficient trading services [3] - The platform aims to reduce intermediaries in meat transactions, enhancing trading efficiency and offering a B2C service for high-quality meat products [3]