China Food

The company announced the “three-year doubling” plan!

On the evening of April 14, new dairy (002946. SZ) released its 2020 results. According to the report, last year, the new dairy industry recorded a revenue of 6.749 billion yuan, an increase of 18.92% over the same period of last year; the net profit attributable to the parent company was 271 million yuan, an increase of 11.18% over 2019, realizing a double increase in revenue and net profit.

According to the performance forecast released by the company, the revenue of new dairy industry increased by more than 90% in the first quarter of this year, and the net profit increased significantly compared with the same period of 2019. After excluding the impact of equity incentive amortization, it is expected to increase by more than 60 million compared with the first quarter of 2020.

At the same time, the new dairy also announced the development goal of “three-year doubling”, and proposed that “by 2023, the growth rate of combined operating revenue and net profit will be no less than 95% compared with 2020, and nearly double at the same time”. Since its listing in 2019, the new dairy industry has achieved double growth for two consecutive fiscal years. How the company will realize the “three-year doubling” plan in the future has attracted much attention from the outside world.


Continue to build “fresh” barriers


With the upgrading of consumption and industry in recent years, the value of fresh milk has been recognized by more and more consumers, which has attracted many dairy enterprises to lay out and make efforts one after another. The new dairy industry, which started with fresh milk, began its layout more than ten years ago, and established competitive barriers by focusing on “fresh strategy” for a long time.

In 2011, the new dairy industry took the lead in launching the first low-temperature liquid milk product “24-hour fresh milk” in China, which was only sold on the same day, and it was not more than 24 hours from the shelf to the shelf; at the end of 2018, the new dairy industry broke through the technical barriers, reducing the low-temperature sterilization temperature from 80 ℃ / 15s to 75 ℃ / 15s, and the immunoglobulin content was 10 times of 85 ℃ / 15s low-temperature sterilization fresh milk.

Last year, the new dairy industry once again upgraded the nutrition of “golden 24 hours”. By using 72 ℃ / 15s golden sterilization process and Swedish membrane RO reverse osmosis filtration process, it reached a new nutritional level of 15 times immunoglobulin and 3.6g/100ml high-quality milk protein.

Behind the new fresh standard is the long-term cultivation and precipitation of the new dairy industry in the milk source, cold chain, market and other fresh milk industry chain.

Xiaoshidai noted that in recent years, the new dairy industry continued to strengthen the control of high-quality milk sources, carried out merger and integration around the “fresh strategy”, and established its own self-control and nationwide fresh milk source circle. Last year, new dairy completed the acquisition of Huanmei dairy, a leading dairy enterprise in Northwest China, and reached strategic cooperation with modern animal husbandry to further ensure the stability of raw milk supply. According to the annual report, by the end of 2020, there are nearly 40000 cows in the new dairy industry, firmly occupying the resource layout of the most core high-quality milk source for fresh milk.

At the same time, the company actively promotes the “fresh strategy”, opens up every link chain from ranch to dining table, strengthens the construction of smart ranch and factory, and establishes competitive barriers by improving ranch breeding, breeding technology and information technology.

According to new dairy, the company’s two new ranches in Haiyuan and Yongchang have been completed, and Qingdao qinpai phase II intelligent workshop project is expected to be completed and put into operation in July this year. “According to the business development plan, the company also carried out the preparatory work of Kunming Xuelan production capacity improvement and new ranches in the same period, so as to coordinate the milk supply and processing capacity with the business development plan 。” New dairy said in a circular.

At present, new dairy has 46 holding subsidiaries, 15 major dairy brands, 16 dairy processing plants and 13 self owned farms, and continues to improve the “ranch factory market” integration layout. At the beginning of this year, new dairy announced that it would purchase 60% equity of “a sour cow”, the pioneer of domestic sour milk tea drink, with 231 million yuan, to speed up the layout of downstream emerging channels.

The analysis points out that, compared with the retail end, the ready to drink mode combined with tea is a very good channel for dairy value-added. The new dairy industry’s entry into the tea drinking circuit not only widens the sales channel, but also provides a new dimension for it to further enhance the value experience of low-temperature fresh milk and yogurt.


“Fast half step” to seize the “fresh advantage”


In the first quarter of last year, the new dairy industry was affected by the epidemic situation. After a short setback in its performance, it quickly entered the recovery and growth channel. In the second quarter, its revenue and profit achieved a positive growth year-on-year, with a net profit growth of 26.75%. In the third quarter and the fourth quarter, its business achieved a high growth year-on-year.

According to the annual report, the new dairy IPO project “enterprise information construction” has been basically completed. Taking the ranch end as an example, the new dairy’s smart ranch has been successfully pilot run in West China ranch, and has been promoted to all ranches. It has achieved the comprehensive upgrading of ranch information construction from four areas: data sharing, multi system integration, data management app, and Internet of things application. During the reporting period, the yield of adult cows increased by about 2%, and the quality of raw milk improved significantly.

On the factory side, new dairy launched the first phase of digital factory project in July 2020, and made pilot projects in three factories with high degree of automation, namely Huaxi dairy, Hebei Tianxiang and Anhui Baidi. Through the use of industrial Internet of things and other technologies to connect production equipment and people, the goal of efficient supply chain collaboration, lean management and digital operation can be achieved. After the operation of the project, the work efficiency of equipment and personnel is expected to increase by 8% and 5% respectively.

Corresponding to “flexible production” is “hard core technology”. At present, new dairy has built a global scientific research think tank covering “four continents and four countries” on the basis of its own science and Technology Research Institute, and has conducted in-depth research in the fields of strain research and development, product research and development and process of subdivided nutrition demand, covering the fields of early life nutrition, elderly nutrition, disease and public nutrition, so as to ensure that it can provide its own biotechnology IP output for product innovation.

On the consumer side, the new dairy industry also accelerates the digital transformation and upgrading. Last year, the company developed its own member platform “fresh GO” to develop more customized services suitable for platform users, to achieve new breakthroughs in the integration of zero purchase and cycle purchase. At the same time, it reached a deep cooperation with hungry, Alipay, US group and other electronic business platforms, and extended the “last mile” service circle on Alipay’s online company’s exclusive procedures, and was active in young consumers. To expand the fresh milk business. According to the data, during the reporting period, the new dairy industry realized the e-commerce sales channel revenue of 372 million yuan, a year-on-year increase of 54.49%, becoming the new growth point of the company.

Under the impact of the epidemic and industry transformation, the new dairy industry has handed over a brilliant report card. In the annual report, the company put forward seven key tasks, including “new strategy”, “new layout” and “new digital intelligence”. It upgraded the original “fresh strategy” to “fresh cube strategy”, explored and promoted the development of new racetracks and new categories, and made a good start to achieve the goal of three-year doubling.

Pay attention to “xiaoshidai” (wechat: foodinc) “and reply to” new hope “to see the wonderful news.

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