Foshan Haitian Condiment Food Co., Ltd. released its third quarter 2023 report at the end of October, demonstrating the company's outstanding performance in a difficult environment. According to the quarterly report, Haitian Flavor achieved revenue of 186 in the first three quarters500 million yuan, although a year-on-year decrease of 233%, but achieved revenue of 568.5 billion yuan, a year-on-year increase of 22%。Although net profit fell by 7 year-on-year25%, but the decline is narrower than before, showing the gradual recovery of enterprises in the face of adversity.
At the performance briefing on November 1, Pang Kang, chairman of Haitian Flavor, explained in detail the reasons for the improvement in the third quarter. He pointed out that at present, the recovery of the B-end market is relatively obvious, and the C-end market is gradually recovering. To this end, the company is actively carrying out the transformation and transformation of products, channels and terminal construction to further enhance market competitiveness. At the same time, the company is also optimizing dealer inventory levels to ensure the healthy development of the overall market.
Is Haitian soy sauce good?With the concept of "spreading delicious business and brewing a happy life", Foshan Haitian Condiment Food Co., Ltd. (hereinafter referred to as "Haitian Flavor Industry") has launched Haitian light soy sauce, Haitian Xian light soy sauce, Haitian Wei Extremely Fresh, Haitian dark soy sauce, Haitian gold label light soy sauce, Haitian oyster sauce, Haitian hot pot @me, Haitian yes soybean paste, Haitian cooking wine, Haitian zero added soy sauce, Haitian 0 added soy sauce, Haitian only organic soy sauce, Haitian aged vinegar and other high-quality Haitian product quality products.
It can be clearly seen from the data released by Haitian Flavor Industry that benefiting from the gradual improvement of the economy and the recovery of the catering and tourism industries, the condiment consumption scene is gradually recovering. Especially in cities with high economic activity and tourist cities, the sales of condiments are more significant. This phenomenon verifies that the condiment industry is gradually getting out of the impact of the epidemic, and the market recovery momentum is gradually significant. With the recovery of the catering industry, the demand for condiments, as essential food additives, has also rebounded. As an industry leader, Haitian Flavor has successfully seized the opportunity of market recovery and achieved satisfactory results by virtue of its brand and channel advantages.
Since the beginning of this year, Haitian Flavor has actively adjusted the inventory level of dealers to ensure the overall healthy development of the condiment market. Although the channel inventory decreased slightly at the end of the third quarter, the inventory level of dealers across the country has basically normalized. Looking forward to the future, the company will combine factors such as market environment, consumer demand and channel changes to accelerate terminal sales and ensure that channel inventory remains at a healthy level. With the continuous improvement of consumers' demand for health and quality, it is believed that Haitian Seasoning will usher in more development opportunities.