The three -year report of the three giants of the fulcus is a collective diving for profit, the smoke of the rivers and lakes is filled with

Cover reporter Ma Mengfei

On the evening of August 29, Huang Shanghuang issued an announcement that the operating income in the first half of 2022 was 1.182 billion yuan, a year -on -year decrease of 15.98%; net profit of home mother was 80 million yuan, a year -on -year decrease of 46.7%.

Huang Shanghuang Semi -annual report

In fact, not only the Huangshanghuang, the other two black ducks and unique foods of the three giants of the Journey also began to "sell". Some time ago, the topic of "why young people like to eat duck necks" still rushed on the hot search and caused heated discussions. Among them, "young people have no money anymore" and "fader is getting more and more expensive" is a high praise.

In terms of performance, Zhou Heiya's net profit attributable to his mother in the first half of this year fell 92%year -on -year, and the highest net profit of the mother -in -law in the first half of the year decreased by more than 82%.

Behind the losses of the three giants, is it not fragrant, or has the industry pattern changed?

Tale three giants collective diving

The main business of Huang Shanghuang is the development, production and sales of sauce braised pork products, Saiton Cool dishes fast consumer food and rice products. The products cover fast consumer sauce braised pork products such as duck, chicken, goose, pig, beef, and sheep.

Regarding the reasons for the decline in performance, Huang Shanghuang said that during the reporting period, the decline in people's flow and the control measures for the flow of people in various places, and the single -store revenue of the sauce meat product industry terminal stores has not been recovered; It is expected that the losses of some stores have increased the number of stores in some stores. At the end of June 2022, the industry stores increased negatively compared with the same period last year. In the end, the operating income of sauce braised pork products in the first half of 2022 decreased by 16.28%year -on -year.

As of the end of June 2022, Huang Shanghuang meat products have 4024 specialty stores, and the sales network covers 28 provinces or municipalities and 235 prefecture -level cities across the country. Compared with the same period last year, the number of stores plummeted 816.

On the other hand, the prices of Huangshanghuang's main purchases of raw materials changed by more than 30%year -on -year, of which the prices of duck head increased by 165.88%year -on -year. The prices of raw materials such as beef, beef, phoenix claws, ear slices, and peaked tongue have also increased significantly. This is also one of the main reasons for the sharp decline in net profit.

At the same time, according to the recent financial report released by Zhou Heiya, the total revenue of 1.88 billion yuan in the first half of this year was 1.1.7%year -on -year, and gross profit was about 672 million yuan, a decrease of 21.7%year -on -year, and a net profit plummeted by 92%. Regarding the significant decrease in net profit, Zhou Heiya said that the main reason for the decrease in people's decrease, which led to a significant decrease in store passenger flow, and rising raw material prices.

As of June 30, 2022, Zhou Hei Ya store has covered 297 cities across the country, with a total of 3,160 offline stores, and the number of franchise stores has increased to 1818.

Coincidentally, Juewei Food has recently released a semi-annual performance preview. It is expected that the net profit attributable to shareholders of listed companies in the first half of 2022 is 90 million yuan to 110 million yuan, a year-on-year decrease of 78.08%-82.07%. This is also the "worst" profit list handed over since its listing in 2017.

The patterns of Lvwei Jianghu change

Although the performance of the three giants in the first half of the year has fallen collectively, it is a fact that it is a situation of operating difficulties. However, the huge market is still unquestionable. Various new forces are endless, and there are countless new products and new marketing. Obviously, Lvwei rivers and lakes are changing.

According to the "2021 Research Report of the Chinese Houmoel Products Industry", the size of my country's halogen products in 2021 is about 329.5 billion yuan, an increase of 15.0%year -on -year. Larger development space. Faced with such a huge market, the forces of all parties are constantly pouring in, and the smoke of the rivers and lakes is filled.

On July 7, Ziyan Food was successful and planned to be listed on the A -share main board. The current number of stores of Ziyan Baiwei Chicken, a subsidiary of the company, has more than 5,000 stores (including suspension of business). On July 5th, Texas Chicken Chicken disclosed the prospectus plan to be listed on the main board of the Shanghai Stock Exchange. In addition, Shengxiang Pavilion, hot braised food, and hemp claws have been favored by capital.

The Guotai Junan Research News said that the variety of four food products and various consumption scenes. In recent years, the new hot halogen track has shown a rapid growth trend. According to the segmented industry, halogen can be divided into salad foods, casual halogen foods and new hot halogen.

At present, the market size of the halogen products is slightly greater than that of casual halogen products, but the leisure halide products industry is growing faster. In recent years, the per capita disposable income of residents has increased, the cold chain transportation system is mature, the packaging upgrade and freshness of the packaging and the promotion of fresh lock technology have promoted the sustainable and rapid development of the halide product industry. It is expected that the market size of the Chinese halogen industry in the future is expected to maintain a rapid growth of about 10%.

In addition, Guotai Junan believes that the market concentration of Chinese halogen products is low, and the new brand still has more room for development in the future. From the perspective of the market segment, the products of casual halogen foods are rich in taste, the process is standardized, and the entry threshold is relatively high. The rapid expansion of brand chain companies will further enhance the market concentration; There are many companies, and the market concentration is relatively low.

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