双塔食品(002481) - 双塔食品调研活动信息(2)

Group 1: Financial Performance - The company achieved a profit increase of 83.56% in the first three quarters of 2020, despite a revenue decline of 10.01% due to optimization of product structure and reduction of low-margin businesses [2] Group 2: Production Capacity and Technology - The company has a total production capacity of 70,000 tons for pea protein, with approximately 60% from fermentation technology, 30% from dry processing, and 10% from new dry processing [3] - The new dry processing technology combines the advantages of both fermentation and dry processing, allowing for broader product applications [3][4] Group 3: Product Strategy - The company plans to double its production capacity for vermicelli over the next two years, converting more pea starch into vermicelli to enhance overall gross profit margin [3] - The company aims to improve the added value and gross profit margin of pea protein by focusing on functional research and providing specialized formulations for different application areas [4] Group 4: Market Position and Competitive Advantage - The company holds a leading position in the industry for pea protein, vermicelli, and dietary fiber production, with a comprehensive technology advantage and a cost structure approximately 30% lower than competitors [5] - High-end pea protein is priced around $3,000 per ton, while low-end pea protein ranges from $1,000 to $1,200 per ton [4]