After the adjustment in 2021, beinmei is expected to hand over a bright report card.
Recently, bainmei announced that it is expected that the annual net profit in 2021 will increase by 118.5% to 127.75% year-on-year, and achieve a profit of 60 million yuan to 90 million yuan; Net profit after deduction of non profits increased by 101.25% – 101.87% year-on-year. This is also the first annual report card that beinmei will hand over after Xie Hong, chairman of beinmei, returns to the position of general manager.
In the announcement, the company attributed the sharp rise in performance to “continuously promote the online and digital intelligence of the company’s overall business, consolidate the stock and expand the increment”.
In the face of the double challenges of the continuous and repeated epidemic last year, the impact on the offline sales channels of the real economy and the further contraction of the demographic dividend, how did beinmei break through the performance?
Strengthen multi-channel construction
It is understood that under the background of the impact of the epidemic on offline channels last year, beinmei not only combed and adjusted the traditional offline channels, but also deepened the promotion of the new retail strategy by building an innovative model of new retail in the maternal and infant industrial community.
In response to investors’ questions, the Board Secretary of bainmei previously disclosed that in 2021, bainmei continued to dynamically sort out and optimize channels, actively withdrew or adjusted some channels with poor dynamic sales and poor input-output, and actively explored and deepened emerging channels.
In November 2021, beinmei announced to jointly establish and operate beinmei investor club and consumer community with Aladdin holdings. Xie Hong said that the “bainmei mother’s home” community can connect and interact with a large number of consumers of maternal and infant products, complete the high-quality delivery of goods, content and services, provide consumers with personalized consumption experience, and create a new retail model of maternal and infant industrial community.
Beinmei’s efforts in channel construction have also paid off. At the end of 2021, the company disclosed to investment institutions that in the fourth quarter, its e-commerce and new retail channels accounted for more than 55% during the anniversary and double 11, completing the transformation of sales channels.
Cinda Securities pointed out in a previous research report that “with the internal management and organizational reform of bainmei, it is expected to straighten out channels again under the new retail strategy, boost revenue, reduce fees and increase efficiency, and the profit side is also expected to recover gradually”.
Diversification of business structure
In addition, although the infant milk powder industry is facing a slowdown in market growth, beinmei continues to focus on infant food and has a solid business base.
According to the data, beinmei won not only the special prize for scientific and technological progress of China’s dairy industry issued by the China National Committee of the International Dairy Federation of China Dairy Industry Association, but also the “golden brand award of the year” and other awards of the seventh Golden Tree award in 2021. Behind this is beinmei’s adherence to the baby food industry.
In recent years, bainmei has also undertaken a number of national key R & D projects, applied for more than 40 patents and published more than 30 professional papers. At present, beinmei has the most complete maternal and infant product system in China, with 20 series, 60 infant formula and 4 special medical formula.
In the investor relations activity information disclosed in July last year, beinmei also mentioned when talking about the product layout strategy that it hopes to fill the gap in sheep milk powder and organic milk powder categories through fixed growth projects, optimize the company’s layout in the field of ultra-high-end products and realize the optimization and upgrading of the company’s product structure.
At the same time, bainmei also hopes to promote a more diversified business structure and further carry out ODM (design and production), OEM (OEM production) and licensing business on the basis of consolidating the original business.
It is worth noting that bainmei’s OEM business is expected to become a new growth point.
At the end of 2021, bainmei disclosed in the investigation of investment institutions that the incremental business orders of OEM and ODM have increased rapidly since the fourth quarter of 2021.
Some analysts believe that beinmei complies with the development trend of the sales market, upgrades the new retail platform of digital intelligence, reconstructs the channel and system, and promotes the laying of global marketing scenarios by relying on the modes of online Red economy and digital economy, which is an important reason for its performance growth.
Bainmei also looks forward to the future “with the support of the company’s deep brand heritage, high-quality products and the new retail business model of online and offline integration, the overall business is expected to achieve incremental expansion and continuous improvement of business efficiency”.
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