Panorama of the catering industry chain: midstream service types are diverse

The upstream of my country’s catering industry is mainly suppliers, including the supply of ingredients, packaging, tableware and other products; the midstream includes a variety of types, including Dinner, casual dining, fast food, specialty catering, retail snacks, etc.; the downstream is mainly oriented to the consumer market.

From the perspective of the industrial chain ecological map, relevant companies in the upstream link include Jinxiang Garlic, Guoca Hongye, etc., and the midstream includes Tongqinglou (605108.SH), Zhou Heiya (01458.HK), Wufangzhai (603237.SH), Ajisen (China) (00538.HK), Xiabuxiabu (00520.HK), etc.

Regional heat map of catering industry chain: Guangdong and Beijing are advantageous areas

According to Qichamao query data, currently China’s registered catering companies are mainly distributed in Guangdong Province. Followed by cities such as Zhejiang, Shandong, and Henan; Jiangsu and Sichuan also have a larger number of catering companies.

Note: Data is as of April 10, 2023.

Judging from the regional distribution of listed companies in the catering industry, Beijing has the largest number of listed companies in the catering industry, including Xiabuxiabu (00520.HK), Haidilao (06862.HK), and Quanjude (002186) .SZ) and other midstream advantageous enterprises; Guangdong Province also has a large number of listed companies, including Naixue’s Tea (02150.HK), Guangzhou Restaurant (603043.SH) and other midstream high-quality enterprises.

The operating situation of representative catering companies: the overall gross profit margin level of the industry is relatively high

Regarding the performance of the catering business, in the first half of 2022, the core business of Haidilao (06862.HK) Revenue is the highest; Ajisen (China) (00538.HK) has a higher gross profit level. In 2021, Juewei Food (603517.SH) has the largest number of stores.

Future planning of representative catering companies: Focus on stabilizing the supply chain

In recent years, although the catering industry has been greatly affected by the epidemic, with the liberalization of domestic policies, the industry as a whole has gradually The future plans of listed companies will focus on stabilizing supply chains, ensuring food safety, and digital transformation.

For more detailed research and analysis on this industry, please see the "China Catering Industry Development Prospects and Investment Forecast Analysis Report" by the Qianzhan Industry Research Institute