Traditional large category is still the main performance of condiment leading

In recent days, 18 condiment listed companies successively announced the first three quarters of operation. Eg. Comb out and find that In September, the revenue of 18 listed condiment companies totaled 74.949 billion yuan and the net profit totaled 12.414 billion yuan. Compared with the operating data of 16 listed condiment companies (Baoli Food and Zhu Laolu are not included) in the same period of 2021, the revenue increased by about 20% and the net profit increased by nearly 40%. Industry insiders said that since the beginning of this year, the condiment industry has been affected by the spread of the novel coronavirus outbreak, cold catering, rising costs of raw materials and labor, weak end consumer demand and other factors, and many companies' performance growth pressure. However, from the 18 listed companies three quarters, the overall still presents a growth trend.

The industry shows a growth trend

In terms of revenue, plum blossom Biology, Haitian Flavor industry, Angel yeast won the top three.

There are two companies whose revenue exceeds 10 billion yuan, namely plum Blossom Biology and Haitian Flavor Industry. Among them, Meihua Biology with a revenue of 20.821 billion yuan, ranked first among the 18 companies; Hatian Weiye ranked second with 19.094 billion yuan in revenue; Angel Yeast ranked third with revenue of 8.983 billion yuan. Revenue is at $1 billion. There are 10 companies between 5 billion yuan, among which Snow Day Salt Industry, Su Yanjing God, Zhongju high new performance is more bright. The remaining five companies' revenue scale is below 1 billion yuan.

In terms of revenue growth, Xuetian Salt Industry, Tianwei Food and Su Yanjing God took the top three places.

Among the 18 companies, 15 maintained positive revenue growth, among which 10 maintained double-digit revenue growth. Xuetian Salt, Tianwei Food and Suyanjingshen, with year-on-year growth of 53.44%, 36.58% and 29.69% respectively, ranked the top three in revenue growth. In addition, Jialong shares, Nichen shares, Lotus Health three companies saw negative revenue growth.

In net profit, Hatian Weiye, plum blossom biology, angel yeast ranked the top three again.

16 of the 18 companies were profitable. Net profit scale of 1 billion. 5 billion yuan between the company has two, for the Haitian flavor industry and plum biology. Among them, Haitian Weiye with net profit of 4.667 billion yuan, ranked the first; Meihua Biology ranked second with a net profit of 3.444 billion yuan. In addition, Angel yeast net profit of 897 million yuan, ranked third. Net profit scale of 100 million. There are 10 companies between 1 billion yuan, in addition to Angel yeast, Fuling Zha CAI, Su Yanjing God, Xuetian Salt net profit also broke the 500 million yuan mark. Zhu Laolu, Lianhua Health, Richen shares, Anji Food 4 companies net profit scale in 0 billion. Between 100 million yuan. In addition, Jia Jia Food, Jia Long shares two companies net profit loss.

From the growth rate of net profit, Tianwei food, Su Yanjing God, plum biology ranked in the top three.

Among the 18 companies, 11 maintained positive net profit growth. Among them, Tianwei Food, Suyanjingshen, Meihua Biological and Xuetian Salt doubled their net profit growth. Tianwei Food, Suyanjingshen and Meihua Biological respectively grew by 204.76%, 201.83% and 159.49%, ranking the top three in net profit growth. Qianhe Weiye, Fuling Zhacai, Lianhua Health and other six companies maintained double-digit net profit growth. In addition, the net profit of seven companies, including Hatian Weiye, Angel Yeast, Jiajia Food and Jialong Shares, recorded negative growth.

Overall, the industry still presents a growth trend. In the Actions of high-tech, Qianhe flavor industry, Hengshun vinegar industry, plum biology, Fuling mustard, day food, Baoli food and other 10 companies to achieve revenue, net profit growth, Haitian flavor industry, Jia Jia food, Angel yeast and other 5 companies to increase the income did not increase the profit, Lianhua health did not increase the income, the day Chen shares, Jia Long shares appeared revenue, net profit double drop.

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Hatian Weiye's soy sauce, oyster sauce, seasoning sauce, Tianwei food's hot pot base, Chinese dish seasoning, Qianhe Weiye's zero added soy sauce, zero added vinegar, Hengshun Vinegar … … The analysis shows that although 18 listed companies are actively looking for new points of performance in recent years, these businesses cannot become strong performance pillars at present, and the main performance is still the traditional large categories.

Hatian Flavor's third quarter results, In September, Haitian Weiye's operating revenue was 19.094 billion yuan, up 6.11% year on year. In terms of business, in the reporting period, the main performance of Haitian Flavor industry is still soy sauce, seasoning sauce and oyster sauce three categories. In the third quarter, the revenue of soy sauce, oyster sauce and seasoning sauce reached 2.91 billion yuan, 1.001 billion yuan and 557 million yuan, while the revenue of other categories totaled 639 million yuan. In recent years, Haitian Flavor industry continues to make efforts in product diversification, products covering soy sauce, oyster sauce, vinegar, cooking wine, seasoning, essence of chicken, chicken powder, beancurd, hot pot base and more than a dozen series of more than 100 varieties more than 500 specifications. However, from the current business performance, Haitainwei industry diversification strategy effect is not good.

heavenly food 1— Revenue and net profit climbed in September. From the perspective of income changes of main products, all categories achieved significant growth, but hot pot base and Chinese dishes seasoning still have obvious advantages, respectively contributing to the operating income of 798 million yuan and 888 million yuan, up 35.99% and 27.91% year-on-year. Day food main authentic Sichuan flavor, hot pot bottom material to spicy department. In recent years, Tianwei Food focus on brand promotion, and put forward. A good family. And; Da Hong Pao Dual-brand driven strategy. Among them, “ A good family. Positioning in the high-end market, focusing on hot pot seasoning, Sichuan seasoning, meal ready-to-eat products; “ Da Hong Pao Positioned as the hot pot seasoning mass market and catering B market, focusing on hot pot seasoning, catering products. Industry analysis pointed out that focusing on single products, deep cultivation of product matrix, so that Tianwei food has its own market share on the compound seasoning track, the late development of Tianwei food is still worth looking forward to.

Hengshun vinegar industry has advanced steadily in recent years. vinaigrette Strategy. By product, the revenue of vinegar, wine and sauce in the third quarter was 290 million yuan, 120 million yuan and 50 million yuan respectively, with year-on-year growth of 82.6%, 52.8% and 35.6%, with a total year-on-year growth of 67.8%. It is understood that under the influence of marketing investment drive and low base, vinegar series products, in addition to the traditional advantages of Zhenjiang vinegar, vinegar sauce and vinegar drink also contribute to the greater increment. At the same time, wine and sauces have also achieved balanced development. Complex seasonings and soy sauce in sauces have steadily gained strength. Braised meat and fatty beef in sour soup have a total volume of nearly 100 million yuan. Before that, Hengshun vinegar industry frequently crossover, has launched “ Sweet and sour hug. Sparkling water, Wenchuang ice cream and other products, also involved in the photoelectric, biological engineering, pharmaceutical, real estate, automobile sales, glass and finance and other industries, but the performance is poor or even loss. In 2020, Hengshun Vinegar industry refocused on the main business of vinegar, stripping off the non-main assets. The financial report shows that in 2021, the company will divest Hengda Packaging and Hengshun Rice, and acquire Shanxi Hengshun Vinegar and Hengrun Condiments. This year, Hengshun Vinegar sold a 51 per cent stake in its real estate unit, further demonstrating its determination to return to its main business.

Insiders point out that the current condiment industry is highly competitive, and it is reasonable for major companies to try to find new growth points, but blindly testing the water and crossing the boundary is not conducive to long-term development. In the future, the industry competition may be more intense and the challenges will be more. In order to maintain the leading edge, the company also needs to adhere to the core needs of the market, consumers and catering terminals as the guidance, and constantly promote product innovation and upgrading and iteration on this basis.