① In the first quarter of this year, the Yanjin store achieved operating revenue of 1,223 billion yuan, an increase of 37%; net profit to the mother was 160 million yuan, an increase of 43.10%; ② The financial report also mentioned that some quail brooding stages in the brooding workshop of Jiangxi Egg Huangji Green Food Co., Ltd., a wholly-owned subsidiary, have completed and entered the egg production stage.
Financial Services Association, April 23 (Reporter Wu Weiling) The core categories continued to gain strength. Yanjin Shop (002847.SZ) continued its performance growth trend in the first quarter. The Egg King Quail Base, which extended to the raw material side, also made new progress, and some quails entered the egg-laying stage.
Tonight, Yanjin Shop released its 2024 quarterly report. During the reporting period, it achieved operating income of 1,223 billion yuan, an increase of 37% over the previous year; net profit to mother of 160 million yuan, an increase of 43.10% over the previous year; net profit after deduction of 138 million yuan, an increase of 40.08% over the previous year.
As for revenue growth, the Yanjin store attributed the company's focus on seven core categories (spicy and braised snacks, deep-sea snacks, casual baking, potato snacks, konjac jelly pudding, egg snacks, dried fruit and nuts), and achieved rapid development in multiple channels and categories.
According to the company's latest equity incentive performance target, the plan is 2024. Compared with 2022, the operating income and net profit growth rates will not be less than 56% and 95%, respectively. Of these, 2022 revenue was 2,894 billion yuan, and net profit (the value of deducting the impact of share payments under the incentive plan) was 320 million yuan. According to this estimate, revenue and net profit targets for 2024 are approximately RMB 4.515 billion and RMB 624 million, respectively.
Based on financial reports, by the end of the first quarter, the company's performance had exceeded one-quarter of that target.
During the reporting period, the operating costs of the Yanjin store increased by 42.18% year-on-year, and the growth rate exceeded revenue. The company explained that the first is that the increase in revenue has led to the same increase in costs, and the second is that the proportion of the company's channel structure and product category structure has changed.
Under the “ultimate cost performance” strategy, the company's revenue scale expanded, and gross margin was hampered at the same time. At the company's performance briefing held recently, Zhang Yang, secretary of the board of directors, said that the company has adopted a “one step more upstream” strategy for some raw materials to obtain cost optimization and advantages; some raw materials are grasped according to market trends and implemented measures such as early price locking.
This year, the company plans to build a 10,000 ton potato (snowflake) powder production and processing base, as well as a breeding base for 3 million hens in the second phase of Egg King Ji.
At the same time, it was mentioned in the financial report that part of the quail brooding stage in the brooding workshop of Jiangxi Egg Huangji Green Food Co., Ltd., a wholly-owned subsidiary, has completed and entered the egg laying stage.