Haixin Foods (SZ:002702)2022-12-03 08:48Group 1: Financial Performance - Q2 2020 revenue was CNY 337.37 million, a year-on-year increase of 48.07%, while Q3 revenue reached CNY 399.11 million, with a year-on-year growth of 18.81% [3] - The company achieved a gross profit margin increase of 2.47 percentage points in Q3 compared to the previous year, driven by product structure adjustments and channel optimization [5] - The projected net profit for the entire year of 2020 is between CNY 75 million and CNY 95 million, representing a year-on-year growth of 996.51% to 1,288.91% [6] Group 2: Production and Capacity - The Mawei factory is ready and has begun small-scale production, while the Baiyao Xian factory is still in the integration phase and is not expected to contribute significantly to 2020 revenue [4] - The utilization rate in Q3 was high, limiting further capacity expansion despite strong downstream demand [3] Group 3: Product and Market Strategy - The proportion of mid-to-high-end products in Q3 decreased slightly compared to Q2 but increased by 7.67 percentage points year-on-year [4] - The company is focusing on developing and maintaining relationships with restaurant clients, which are expected to provide stable demand and lower costs compared to other channels [4] - E-commerce sales of snack foods have seen rapid growth, supported by increased activities on e-commerce platforms [5]