On March 30, Shuanghui Development released its 2020 annual report, which showed that the total operating revenue of the company was 73.9 billion yuan, up 22.51% year on year, and the net profit attributable to the shareholders of the parent company was 6.3 billion yuan, up 15.04% year on year. In addition, the company’s total export sales of meat products (including poultry products) in 2020 was 3.05 million tons, a year-on-year decrease of 3.06%.
As for the performance change, Shuanghui development said in the announcement that the company vigorously promoted medium and high-end products, the proportion of meat products with special grade structure increased by 2.1%, and the sales volume of core product Wang Zhongwang increased by more than 10%. At the same time, actively promote new products, new product sales accounted for 1.1% of the total sales of meat products; spicy? The annual sales volume of new products such as spicy, starch free Wang Zhongwang and roukuai Wang are more than 10000 tons, and the annual sales volume of new products such as huoxuanfeng carved sausages, Russian large roukuai sausages and skewed extra tender roast ham are more than 5000 tons.
It is worth mentioning that in September 2020, with the approval of China Securities Regulatory Commission, Shuanghui development completed the non-public offering of shares and raised 7 billion yuan, which is mainly used for the transformation and upgrading of existing industrial projects, the construction of new production capacity projects such as Xihua poultry industry, Fuxin animal husbandry and poultry industry, so as to further improve the meat industry chain.
It is reported that the development of Shuanghui takes the slaughtering industry and meat processing industry as the core, develops feed industry and breeding industry upstream, develops packaging industry and Commerce downstream, and develops foreign trade and seasoning industry. In 2020, with the development strategy of “adjusting the structure, expanding the network, promoting the transformation and upgrading the scale”, Shuanghui will implement product innovation around the introduction of Western products, the transformation of Chinese products and the transformation of cold and fresh meat, launch about 10% of new products every year, and establish a product group focusing on packaged meat products and fresh products.
At present, Shuanghui development has developed more than 1000 products, such as ham sausage, ham, sausage, canned food, sauce stewed cooked food, catering materials and fresh products, which are suitable for the national market and local characteristic market. According to the product classification, Shuanghui’s packaged meat products are composed of ham sausage, ham, sausage, canned food, pickled cooked food, catering materials and other categories, which promote the products to “enter the family and serve the table”. Among them, wangzhongwang is the star product of Shuanghui development; spicy? Spicy, huoxuanfeng, starless wangzhongwang, Shuanghui chopsticks kitchen, zhiquduo cod sausage, Smithfield brand products are the new products of Shuanghui development in recent years, showing good growth potential; Chinese sauce stewed cooked food combines traditional food with modern food processing technology; raw and fresh products are mainly cold fresh meat, and are widely used Through the whole cold chain transportation, it is sold to the whole country.
In terms of sales, Shuanghui development has built 30 modern meat processing bases and supporting industries in 17 provinces (cities) in China, and its main production and operation areas include Henan, Shanghai, Shandong and other places. Distribution mode is divided into agent sales and direct sales. By the end of 2020, Shuanghui development had a total of 173.55 thousand dealers, a net increase of 2587 compared with the beginning of the year, with an increase of 17.52%. There were 5936 dealers in the south of the Yangtze River, with an increase of 12.38% compared with the beginning of the year, and 11.49 million dealers in the north of the Yangtze River, with an increase of 20.38% compared with the beginning of the year.
Shuanghui development said in the announcement that Shuanghui development attaches great importance to channel development and network construction, and has more than 1 million sales outlets all over the country, and its products can basically achieve rapid development in most provinces. Shuanghui development has also increased new catering channels; e-commerce business has grown rapidly, with online and offline integration of enterprises; sales of new leisure and cooked food counter channels have increased significantly. At the same time, Shuanghui development and its controlling shareholder, ROTx, have the synergy effect of international procurement, which can make use of global resources and improve the competitiveness of enterprises.
Zhu danpeng, an analyst of China’s food industry, said that Shuanghui’s overall performance in 2020 was moderate. In the face of the rush of Longda meat and other brands, in the future, Shuanghui’s development should also improve its brand effect, scale effect, channel effect and internal quality control system.
Beijing Business News (reporter Qian Yu, Bai Yang, Wang Xiao)
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