Haixin Foods (SZ:002702)2022-12-04 09:04Group 1: Industry Overview - The demand for convenient frozen food is continuously increasing, driven by the growth of the post-90s and post-00s generations, despite limitations in cooking skills [2][3] - The frozen prepared food industry has a low entry barrier, with both national and regional leading enterprises, as well as numerous small and medium-sized manufacturers, resulting in intense competition [3] Group 2: Market Dynamics - Brand recognition and loyalty are higher in first- and second-tier cities compared to third- and fourth-tier cities, where price significantly influences purchasing decisions [3] - The substantial rise in raw material prices this year has impacted small and medium-sized manufacturers, accelerating industry consolidation [3] Group 3: Company Performance - In Q3, the company achieved a revenue of ¥335,913,595.61, representing a year-on-year growth of 24.34%. Year-to-date revenue reached ¥877,595,338.00, up 20.44% year-on-year [4] - The net profit attributable to shareholders was ¥5,370,539.10, a decrease of 67.12% year-on-year, with a year-to-date net profit of ¥12,385,226.86, down 53.78% year-on-year, primarily due to the significant increase in upstream raw material costs [4] - The overall revenue growth is strong, but net profit is negatively affected by rising costs, with seasonal consumption trends expected to boost orders in Q3 [4]