Recently, Juewei Food (603517. SH) was listed on the list of "Top 10 Brands in China's Food and Beverage Category in 2024".
With excellent supply chain management capabilities, continuous innovation capabilities and the pursuit of quality, Juewei Food has gradually won the trust of consumers in the increasingly fierce market competition. In the selection of the "Top Ten Brands in China's Catering Category in 2024", Juewei Duck Neck topped the list of "Top Ten Lo-mei Brands in 2024", which shows that its outstanding performance in the industry has been highly recognized.
The brand influence continues to increase
It is understood that the "Top Ten Brands of China's Catering Category" aims to select the top brands in the catering industry in various categories in the past year, affirm the contributions made by these head brands to the development of subdivided fields, and provide role models for other catering industry professionals.
After multi-dimensional professional selection, among the more than 60,000 brands in the country, 220 brands in 22 key catering categories were honorably listed.
In the list of "Top 10 Brands in China's Catering Category in 2024", each list selects leading brands in different market segments, and Juewei Duck Neck and Wangju Ecological Partner Brands are honored on the list.
Food, as an important part of culture, carries the history and memory of a nation. Juewei duck neck has been accompanying the Chinese people for 19 years, and it is a well-deserved "national lo-mei" brand. With its secret spices and unique cooking techniques, Juewei duck neck has won the favor of consumers.
Through the improvement of taste and quality control, as well as continuous innovation and expansion, Juewei duck neck has gained the trust and affirmation of more and more consumers, and it can be said that it deserves to be awarded the "Top Ten Brands of Lo Mei in 2024".
Not long ago, Juewei Food just held a brand strategy upgrade conference, announcing the brand renewal and upgrading, at which it was officially announced that Fan Chengcheng will serve as the first global brand spokesperson of Juewei brand in the 19 years since its establishment, marking the company's brand marketing into a new era.
Huajin Securities pointed out in the latest research report that the double blessing of "spokesperson + Olympic Games" is expected to drive product sales growth. Consumers have always had the habit of "drinking beer, eating duck necks and watching events", and the company also has the practice of "marketing in a big year and a small year" in its operation. On the eve of the Olympic Games this year, Juewei Food's official spokesperson and a series of marketing activities are expected to boost short-term company sales in the context of weak consumption.
The supply chain management capability is excellent, and the performance is expected to be good
The success of Juewei duck neck is mainly due to excellent supply chain management capabilities. According to the 2023 annual report, Juewei Food has established 22 production bases (including 3 under construction) across the country, with the production base as the center, and the optimal cold chain distribution distance of 300-500 kilometers as the radius to radiate the market, building a comprehensive supply chain system of "close to sales outlets, fast production and supply, and maximum preservation", realizing "same-day orders, same-day production, same-day distribution, and 24-hour sales".
It can be said that an efficient and agile supply chain system has become a strong support for the company to improve efficiency, reduce costs and ensure food safety.
In addition, through the application of SAP-ERP system and RMS (retail terminal management) system, Juewei Food opens up the whole chain of information and data of procurement, production, distribution and store sales, improves the overall transparency of the supply chain, improves the response speed of the supply chain, and helps it control the inventory turnover rate at a better level.
In addition, Juewei Food continues to optimize and upgrade its products, add special and regional flavor products, continuously improve its brand potential, and carry out marketing innovation in combination with the trend, which has been recognized by the market while the company's performance has also maintained a steady recovery. In the first quarter of 2024, Juewei Food achieved revenue of 1.695 billion yuan and net profit attributable to the parent company of 165 million yuan, a year-on-year increase of 20.02%.
According to data from Frost & Sullivan and the Red Meal Industry Research Institute, the halogen products industry is still growing. In 2023, the market size of halogen products will reach 318 billion yuan, with a CAGR of 6.42% from 2018 to 2023.
In recent years, the state has further revised and improved the relevant laws and regulations on food safety, improved the safety production standards of food production enterprises, and introduced a series of policies to encourage innovation and upgrading of the food industry to support enterprises to enhance the added value of products through technological innovation. These policies reflect the state's support for outstanding enterprises to become bigger and stronger, providing unprecedented opportunities for industry participants.
As a leading enterprise in China's leisure marinated products industry, Juewei Food, which continues to improve its product sales and brand influence, is expected to continue to benefit, and its operating performance is expected to improve.