202 1, Fuling mustard tuber company realized an operating income of 25190,000 yuan, a year-on-year increase of10.82%; The net profit attributable to shareholders of listed companies was 742 million yuan, a year-on-year decrease of 4.52%; After deducting non-recurring gains and losses, the net profit attributable to shareholders of listed companies was 694 million yuan, down 8.49% year-on-year, and the basic earnings per share was 0.87 yuan. It is planned to distribute cash bonus 3.5 yuan (including tax) for every 65,438+00 shares.
Fuling mustard tuber released the investor relations activity record on March 25th, and the company was investigated by 130 on March 24th, 2022. Fuling mustard tuber said that after the company adjusted the ex-factory price of products in mid-October last year, the terminal price began to be gradually transmitted. At the same time, in February this year, the company officially promoted the iterative upgrade of mustard tuber products, and gradually replaced the old version with new salt-reducing products, so that consumers can get a better consumption experience and help them accept the terminal price increase. At present, the terminal price has been completely transmitted. After the new version of the company's products goes on the market, the old version of mustard tuber packaging will no longer be used for production. It is expected that the digestion of the old version will be basically completed in the first half of this year, and the new products will be fully upgraded.
Fuling mustard tuber group is engaged in the research, development, production and sales of convenient foods such as mustard tuber, radish, kimchi and appetizers. The main products are mustard tuber, radish, pickles and snacks. After more than 20 years of production and operation, the company has formed its own production capacity with an annual output of 66,5438+0,000 tons of mustard tuber products, becoming the largest mustard tuber processing enterprise in China and the largest market share of mustard tuber products in China.
Mustard tuber is the main business of Fuling mustard tuber group. Last year, mustard tuber accounted for 88.37% of the total income of Fuling mustard tuber group. To increase income, we must first make a fuss about the traditional main business of mustard tuber.
Fuling mustard tuber said that the company implements a distribution system, and there is no absolute difference between supermarkets and circulating products. Statistics of various channels can only be roughly estimated: supermarkets accounted for 20%-30% last year, and e-commerce (including company-owned e-commerce and dealer e-commerce) had sales of about 200 million, and the rest were circulation channels.
In addition, according to the progress announcement of the "construction project of kimchi production base with an annual output of 50,000 tons" disclosed by the company, two production lines have been officially completed and put into operation recently, with an additional production capacity of 25,000 tons/year, meeting the company's current production demand.
The following are the main contents of investor relations activities:
Q: The impact of the epidemic on the company's product marketing.
A: The company has strengthened epidemic control. At present, the epidemic situation has not affected the company's production organization and product transportation. Consumers in some areas need to store their living materials, which has boosted the local market demand in a short time.
Q: The terminal price transmission and acceptance of the company's products after the price increase last year, and when is the company expected to complete the product upgrade after the new version of salt-reduced mustard tuber is listed?
A: After the company adjusted the ex-factory price of products in mid-June last year 165438+ 10, the terminal price began to be gradually transmitted. At the same time, in February this year, the company officially promoted the iterative upgrade of mustard tuber products, and gradually replaced the old version with new salt-reducing products, so that consumers can get a better consumption experience and help them accept the terminal price increase. At present, the terminal price has been completely transmitted. After the new version of the company's products goes on the market, the old version of mustard tuber packaging will no longer be used for production. It is expected that the digestion of the old version will be basically completed in the first half of this year, and the new products will be fully upgraded.
Q: What is the profit of distribution channel dealers after the price increase?
A: After the ex-factory price of the company is raised, the terminal guidance price is also adjusted accordingly, which ensures the profit space and enthusiasm of all levels in the channel.
Q: The company's sales expenses and brand promotion plan this year.
A: With the continuous development of the company, the absolute value of sales expenses will increase every year, which will serve the company's development strategy of that year; In brand promotion, the company continues to follow the principle of phased evaluation and phased launch, and live within our means. The overall planning this year is less than last year. Combined with the company's development plan this year, the company will continue to do a good job in the construction of household consumption channels, increase the cost of catering channels, and do a good job in multi-category matrix publicity of mustard tuber, radish, next meal, leisure snacks and sauces.
Q: The company's consideration of brand promotion channels this year.
A: Last year, the company's brand promotion positions mainly included CCTV, ladder media and Internet public relations. CCTV advertising helps to establish and strengthen brand tonality and maintain the stickiness of existing users. The target orientation was completed last year, and the launch will not continue this year. Ladder media is suitable for accurate regional coverage, which has a more intuitive promotion effect on covering local brand impressions and improving mustard tuber sales. The company will continue to invest this year; Network public relations spread rapidly and widely, and can be aimed at different audiences and channels. This year, the company will continue to do a good job in public relations on platforms such as Tik Tok, Weibo and WeChat.
Q: Will ground promotion increase this year?
A: Compared with last year, it will increase. In order to undertake online communication traffic and convert it into sales volume, its investment includes stacking, display, first-line dealers and personnel expenses.
Q: What is the price of raw materials this year and when is it expected to be used?
A: The price of green vegetable head is relatively stable this year, and the overall control is around 800 yuan/ton, and the cost is lower than last year; The price of semi-finished products is determined by the price of cabbage head and the supply and demand relationship in the follow-up market. The newly acquired raw materials of green vegetable heads are generally used one after another in May of that year, depending on the actual marketing, production and consumption of that year.
Q: How to predict the cost side this year?
A: In terms of raw materials, combined with the trend of price correction at the beginning of the year, it is expected that the overall situation of the cost side will decline in the second half of the year. As for packaging materials, there is great uncertainty, because the prices of bulk raw materials may fluctuate.
Q: Planning and progress of fundraising projects.
A: The company's fundraising project is planned to be completed in three years and reach production in three years. The actual production schedule is determined by the construction schedule and the market environment. At present, part of the equipment bidding has been completed, and the civil engineering bidding is in progress. Due to the huge scale of the project, the preparation work takes a lot of time. After the tender is completed, construction is expected to start in the first half of this year.
Q: Based on the existing production capacity, the company plans the production capacity of fundraising projects.
A: On the one hand, the capacity planning and design of the company's fundraising projects is to comprehensively consider the needs of the future market, the company's development and the elimination of old production capacity; On the other hand, it is also to improve the company's flexible production capacity, promote the company to realize the leap from automation to intelligence, make the company have the production capacity to respond quickly and meet the future market demand, and realize scientific and technological empowerment.
Q: After 3 15, food safety has aroused widespread concern. What does the company think about this?
A: The growing demand of the market and consumers for food quality and safety can speed up low-end manufacturing, which is conducive to the benign development of the industry and make room for the development of leading enterprises and standardized enterprises. In addition, rational consumer groups are expanding, and the interaction between enterprises and consumers on key issues such as food safety, hygiene and health will continue to strengthen in the future.
Q: There are more cash assets in the company's account. What is the company's consideration?
A: On the one hand, the company's project investment must be carefully demonstrated, and the project investment construction must be promoted in an orderly manner to adapt to the pace of market and company development and realize the transformation from capital to assets to profits; On the other hand, the company will maximize the cash management income as much as possible under the premise of ensuring the safety of funds. The company will also carefully evaluate the subsequent improvement and upgrade of production equipment and pits to ensure production quality and safety.
Q: The sales ratio of each channel.
A: The company implements the distribution system, and there is no absolute distinction between supermarkets and circulating products. All channel statistics can only be roughly estimated: supermarkets accounted for 20%-30% last year, e-commerce (including company-owned e-commerce and dealer e-commerce) accounted for about 200 million sales, and the rest were circulation channels.
Q: Progress in the construction of the second sales department of the company's docking catering channel.
A: All the offices have been set up, and the relevant professionals have been recruited and started to carry out related work.
Q: Catering channels are more sensitive to cost. How does the company consider this, and will the development of catering channels lead to a decline in gross profit margin?
A: The company adheres to the boutique strategy, positioning the mid-to-high-end market, and the catering channels focus on docking star-rated hotels and large chain restaurants. On the premise of ensuring the quality of products, the company will also carry out differentiated price design according to the characteristics of catering channels. Developing catering channels is a part of the company's overall development. The catering channel is an important growth point for the company to achieve thorough mustard tuber, big radish and expanded sauce. With the gross profit of catering channels getting bigger and more mature, scale effect and cost control will naturally promote gross profit and promote the company's performance growth at the overall development level.
Q: Will the development of catering channels replace the existing consumption scenes?
A: The company develops catering channels. On the one hand, it is planned to develop small packages suitable for chain restaurants and in-store food distribution, and on the other hand, it is planned to develop large packages suitable for hotel buffets and food collocation, which does not constitute a substitute for the existing family consumption scene and belongs to new development.
Q: Channel sinking and its influence.
A: The county-level market coverage has been completed as planned. Last year, the county-level market grew by 20%-30%. The next step is to gradually form a strong brand power in various markets through continuous development, have stable dealers, and increase sales in county-level markets.
Q: Last year, the sales volume of pickled mustard tuber decreased slightly year-on-year. What is the reason?
A: On the one hand, it is necessary to digest some stocks stored in the context of the epidemic; On the other hand, the downward pressure on the economy has led to a weak consumer market, which has also had a certain impact on the company's product sales.
Q: New products of sauces, radishes and snacks are all planned.
A: Radish and rice are expected to be launched in April and May, and the sauce is a little later. It is planned to launch this year.
Comments: Sun