Recently, compound condiment leader Tianwei Food (603317. SH) announced its financial report, and Tianwei Food achieved steady performance growth in 2023. The company's annual revenue was 3.149 billion yuan, a year-on-year increase of 17.02%, and its net profit reached 457 million yuan, a year-on-year increase of 33.65%, and the performance scale hit a record high.
Tianwei Food(603317. SH) As a leading enterprise in the compound condiment industry, Tianwei Food's product line covers many categories such as hot pot seasoning, Chinese dish seasoning, sausage and bacon seasoning, and the brand matrix includes many well-known brands such as "Good Family" and "Da Hong Pao". According to "FMCG", the controlling shareholder of Tianwei Food is Deng Wen, and the actual controllers are Deng Wen and Tang Lu.
Last year, Tianwei Food made remarkable progress in the precise development of new products. The company has launched new products such as the third generation of thick hot pot and spicy grilled fish, which not only enhance the company's market competitiveness, but also further consolidate the company's leading position in the compound condiment market. The annual product monitoring results show that the company's product flavor advantage rate has reached a new high in the past five years, which fully demonstrates the company's strength in product research and development.
In addition to product innovation, Tianwei Food has also achieved remarkable results in channel construction. The company insists on deepening the construction of the C-end online and offline channel system, strengthening the further excavation of B-end channels, and at the same time achieving multi-directional, omni-channel and multi-scenario reach through the existing advantageous distribution system. Last year, the dealer channel was still the main force of the company's revenue, while the customized meal blending and e-commerce channels also showed a strong growth momentum, with year-on-year revenue growth of 32.24% and 92.99% respectively.
It is worth mentioning that last year, through the merger and acquisition of Shicui Food, Tianwei Food further supplemented the online channels, customers and products of small and medium-sized B, so that the company could more comprehensively serve all B-end customers from single stores to large chain restaurants, providing strong support for the company's sustainable development.
In terms of intelligent manufacturing, Tianwei Food is also at the forefront of the industry. The manufacturing technology of the new workshop of the smart factory put into use by the company has been further upgraded, and a series of advanced technologies and equipment have been adopted, representing the high level of automation, informatization and intelligence in the current compound condiment industry.
Looking forward to the future, Tianwei Food will continue to adhere to the innovation-driven development strategy, continuously launch new products that meet the needs of consumers, and strengthen channel construction to enhance brand influence and market competitiveness. With the continuous development of the condiment market and the continuous upgrading of consumer demand, Tianwei Food is expected to continue to maintain a steady growth trend in the future.