双塔食品(002481) - 双塔食品调研活动信息

Business Overview - Yantai Shuangta Food Co., Ltd. is transitioning from a traditional food processing company to a biotechnology health food enterprise, focusing on products like pea protein, vermicelli, and dietary fiber, which have shown strong growth despite the pandemic [2][3]. - The company employs a circular economy model, enhancing the value of by-products, with significant improvements in the added value of pea protein and dietary fiber [2][3]. Circular Economy Model - The company's circular economy model, known as "1+10 Circular Economy," utilizes fermentation technology to derive over 10 products from peas, including pea starch, vermicelli, and various proteins [3][4]. - This model allows the company to reduce comprehensive costs by approximately 30% compared to industry peers [3][4]. Market Position and Competitive Advantage - Shuangta Food is the largest producer of vermicelli in the industry, with a current pea protein production capacity of 70,000 tons, accounting for about 40% of the global capacity of 170,000 tons [4][5]. - The company has a technological edge with comprehensive extraction techniques for pea protein, including wet, dry, and new dry methods, which are not widely adopted by competitors [4][5]. Export and Supply Chain - The company’s pea protein export business has remained stable, unaffected by the pandemic, as domestic competitors faced challenges, providing Shuangta with market expansion opportunities [4][5]. - Pea raw materials are primarily imported from Canada, with a global production of approximately 10 million tons, and Shuangta maintains a stock sufficient for at least six months of production [5][6]. Future Prospects - The demand for pea protein is expected to grow significantly due to rising consumer awareness and preferences for non-GMO, allergen-free, and low-cholesterol products [6][7]. - The company plans to enhance its product offerings in the health food sector, including protein powders and functional low-oligosaccharides, which are derived from pea processing [6][7].