On October 29, Haitian Flavor Industry issued an announcement that the operating income in the first three quarters was 17.994 billion yuan, an increase of 5.32% year-on-year; the net profit was 4.708 billion yuan, an increase of 2.98% year-on-year. Net profit in the third quarter was 1.355 billion yuan, an increase of 2.75% year-on-year.
In terms of various categories, the data shows that the soy sauce revenue of Haitian Flavor Industry reached 10.183 billion yuan, an increase of 4.69% year-on-year; the revenue of sauce was 2.008 billion yuan, an increase of 3.24% year-on-year; and the revenue of oyster sauce reached 3.192 billion yuan, an increase of 6.09% year-on-year. As far as channels are concerned, offline channel revenue was 16.649 billion yuan, an increase of 4.59% year-on-year, and online channels grew rapidly, with revenue reaching 4.094 billion yuan, an increase of 47.68% year-on-year.
However, looking at the performance of the past 5 years, this is the first time that the growth rate of Haitian Flavor Industry in the third quarter has fallen back to single digits. From 2016 to 2020, the growth rate of Haitian Flavor's revenue was 10.32%, 21.04%, 17.2%, 16.62% and 15.26%, respectively. The net profit increase was 10.77%, 24.49%, 23.33%, 22.48% and 19.2% respectively.
This may be the main reason why Haitian Flavor Industry has raised the ex-factory price of its products again. On the evening of October 12, Haitian Flavor Industry issued an announcement that the price of some products was raised. In view of the continuous rise in the cost of raw materials, transportation, energy and other major raw materials, after research, it was decided that the ex-factory price of some products such as soy sauce, oyster sauce and sauce would be adjusted, and the adjustment range of the main products would be 3%-7%, and the new price implementation would be implemented on October 25.
Haitian flavor industry can achieve growth has been valuable, the first three quarters, the performance of the seasoning industry declined significantly. Qianhe Flavor Industry announced on October 27 that the company's revenue in the first three quarters was 1.356 billion yuan, an increase of 10.91% year-on-year; but the net profit attributable to the mother was 132 million yuan, down 41.09% year-on-year. In the announcement, Hewei Industry said that it was mainly due to the increase in advertising and promotion fees. According to the data, in the first three quarters, the sales expenses of Qianhe Flavor Industry reached 315 million yuan, an increase of more than 20% over the same period of 2020 of 262 million yuan.
Zhongju Gaoxin, which owns the kitchen brand, had an operating income of 3.412 billion yuan in the first three quarters of 2021, a decrease of 10.45% year-on-year; a net profit of 367 million yuan, a decrease of 45.09% year-on-year. Hengshun Vinegar Industry's revenue in the first three quarters was 1.359 billion yuan, down 6.37% year-on-year; net profit attributable to the mother was 135 million yuan, down 41.73% year-on-year. In the first three quarters, Tianwei Food achieved a total revenue of 1.397 billion yuan, down 8.35% year-on-year; achieved a net profit of 80.1585 million yuan, down 74.96% year-on-year.
This article originated from Blue Whale Finance