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The snack track has been hot lately. Following the strategic merger of the two major snack wholesale brands of Snack Busy and Zhao Yiming, the new Snack Busy has ushered in a huge investment from A-share listed companies.
On the evening of December 18, I miss you (002582) issued an announcement that the company and its wholly-owned subsidiaries invested a total of 700 million yuan in monetary funds to increase the capital of Hunan snack very busy commercial chain, and after the completion of the capital increase, the company and its wholly-owned subsidiaries held a total of 664% equity. Based on this calculation, the post-investment valuation of this capital increase for snacks is 105400 million yuan.
Snacks are busy, and the number of stores exceeds 6,500.
According to the announcement, in order to further optimize the omni-channel operation system, give full play to business synergy capabilities, and fully promote the development of the company's hyperbola, the company plans to increase its business layout in the snack channel. Through full market research and demonstration, the company's board of directors and management plan to use a total of 700 million yuan of capital to increase the capital of snacks with its wholly-owned subsidiary, Henan Haoqiao Kitchen Health Food, Henan Haoxiang Youran Technology, relying on the national leading channel advantages and business synergy of snacks.
Founded in 2019, Snack is a snack company focusing on offline channels, operating more than 1,600 categories of snacks, including snack foods, candy and chocolate, beverage preparation, roasted nuts, dried fruit preserves, pastries and biscuits.
Since its establishment, Snacks has been busy with the Hunan market as the center, and continues to radiate and penetrate to surrounding cities. In the first half of 2023, more than 1,000 new stores will be added, reflecting the strong development momentum of Snack Busy in the snack market and highlighting the potential of the snack track.
In November 2023, Snack is busy and signed a transaction agreement with Yichun Zhao Yiming Food Technology Co., Ltd., the head brand of snacks, and Snack is busy to become the controlling shareholder of Zhao Yiming Food through this transaction. According to the transaction agreement, the registered capital of Snack is busy increased to 2220260,000 yuan, of which 8.69 million yuan of new registered capital was subscribed by the original shareholders of Zhao Yiming Food, accounting for 39 percent of the total registered capital of snacks after the merger14%；67.The new registered capital of 720,000 yuan was subscribed by the shareholding platform of snack employees and investors, accounting for 3 of the total registered capital of snack busy after the merger05%。
After the completion of the above transaction, Zhao Yiming Food has become a holding subsidiary of Snack Busy, and the number of Snack Busy stores and the scale of operation have increased rapidly, further consolidating its leading position in the snack field. As of November 2023, the total number of stores in the country has exceeded 6,500, ranking first in the industry.
Financial data shows that in 2022, snacks are very busy to achieve an operating income of 430.2 billion yuan, achieving a net profit of 61.53 million yuan;From January to June 2023, the operating income will be 378.1 billion yuan, achieving a net profit of 1$2.1 billion. As of the end of June 2023, the net worth of Snack is Busy is 70.2 billion yuan (the above data does not include Zhao Yiming food).
As an important holding subsidiary recently acquired by Snack Bus, Zhao Yiming Food achieved an operating income of 12 in 20221.5 billion yuan, net profit of 38.44 million yuan, operating income of 27 from January to June 20238.6 billion yuan and net profit of 76.31 million yuan. As of the end of June 2023, Zhao Yiming Food's net assets were 18.6 billion yuan.
Promote comprehensive strategic cooperation.
According to the announcement of Miss You, after this capital increase, the Board of Directors, which is very busy, consists of 11 directors, of which 1 director is appointed by Miss You. The investment funds of this capital increase will be used for the main business development and operation, R&D, production, capital expenditure and general working capital related to the proposed business.
The parties to the transaction specifically agreed to take this capital increase as an opportunity to actively promote the comprehensive strategic cooperation between Snack Busy and Haoxiangyou, give full play to their respective resources and advantages, and promote mutual benefit and win-win results between the two parties in related fields. Considering that snacks are very busy and are in a rapid development stage and have great development potential, I would like to think that you can use its strong offline channels, customer base, consumer feedback, etc., to promote product innovation and performance improvement.
In the past two years, the growth of traditional domestic supermarket channels has been sluggish, and snack companies represented by Snack is very busy and Zhao Yiming Food have quickly cut traffic and become the new favorite of the channel by virtue of their rich categories and high cost performance. As an important market segment in the current snack food field, the snack industry has a high market heat and has ushered in major development opportunities. With the deepening of urbanization, the sinking market represented by the community economy has ushered in a period of rapid development, and the trend of focusing on cost performance has accelerated the rise of the snack industry.
At the same time, the instant consumption attribute of snack food is highly matched with the convenient physical store layout, and the importance of channels is highlighted in the case of limited food chain and brand resources. By shortening the value chain, the snack channel provides consumers with high-quality and low-cost snack foods and a good shopping experience. Under the above trend, the snack industry has ushered in a period of development, and many snack food companies have laid out snack channels.
In your opinion, grasping this development opportunity will help the company increase its sales scale with the help of snack channels, so as to occupy a favorable position in the fierce market competition. Through this investment, the company can obtain scarce high-quality resources in the snack track, and achieve resource sharing and win-win benefits with the help of the competitive advantage of Snack is busy in the snack channel.
I want you to say that in order to respond to market changes, seize the opportunity of consumption recovery and consumers' pursuit of healthy food, the company has formulated and implemented a hyperbolic development strategy this year, the first curve is based on gift business, through monopoly, e-commerce to improve the scale of business, and continue to promote high-quality, high-value productsThe second curve focuses on the large-scale single product business, focusing on creating a strategic large-scale single product red and small pie, conforming to consumer needs, creating new categories, and boosting the company's performance through channels such as interest e-commerce, supermarkets, and snacks.
As the leading brand of the domestic snack channel, Snack is busy and the company's main business has obvious synergies in expanding brand potential, enhancing product innovation, accelerating channel layout, improving chain efficiency, and improving business performance. The purpose of the company's investment is to be optimistic about the future development prospects of snacks, which will help provide new profit growth points for the company's improvement, and form synergistic support with the existing main business. While stabilizing the original gift business, it actively builds the company's second growth curve. "I miss you so much.
The snack track is constantly moving.
*The reporter of Times E Company noticed that on December 18, Snacks was very busy and held a signing ceremony for a strategic cooperation investment agreement in Changsha, Hunan. At the signing ceremony, Snacks was very busy and not only accepted the investment of 700 million yuan from Miss You, but also accepted 3500 million yuan investment, a total of 10500 million yuan. Among them, Yanjin Shop Holdings is the controlling shareholder of the listed company Yanjin Shop (002847).
At the signing ceremony, Shi Jubin, chairman of the board of directors, said: "The snack track is a good track, the snack is very busy and Zhao Yiming snacks are the head enterprises, I really want you and Yanjin Shop Holdings to be optimistic about the snack track together, and work together to invest in the snack group." Previously, I think you and snacks are very busy, Zhao Yiming snacks have business cooperation, this strategic cooperation will further deepen the scope of cooperation, is conducive to expanding the brand influence of all parties, enhance product innovation, and improve the efficiency of the first chain. Through the in-depth cooperation of mutual empowerment of all parties, it will have a positive impact on the short, medium and long-term development of the snack industry. ”
Yan Zhou, chairman of the Snack Busy Group, also said: "I really want you and Yanjin Shop Holdings to be the leading enterprises in the snack industry, and the financing of the two leading companies in the industry is not only a recognition of the merged Snack Busy Group, but also will help the group enter a new stage of development and will support us to enter a wider region." This round of financing will be mainly used for the construction of first-chain warehousing, commodity upgrading, digital development, market development and brand building of the Snack Busy Group. ”
It is worth mentioning that since the beginning of this year, the snack track has been in constant action.
In February this year, BESTORE (603719), a listed company, announced that it would jointly invest in Zhao Yiming snacks with the well-known investment institution Black Ant Capital, of which BESTORE invested 45 million yuan, accounting for 3% of the shares. But in October this year, BESTORE announced that it would take 3% of Zhao Yiming's snacks to 10.5 billion yuan to two institutions. **The reason is based on the company's own business development needs, after friendly negotiation between all parties, this transaction is conducive to the company's asset operation efficiency.
As soon as BESTORE quit less than a month, Zhao Yiming quickly "married". On November 10, Zhao Yiming and Snacks were very busy and officially announced their merger.
The latest news is that Guangyuan Juyi, a subsidiary of BESTORE, took Zhao Yiming to court. "The company and its subsidiaries learned about (the matter) through news reports on November 10. BESTORE told the reporter of **Times E Company that Guangyuan Juyi's lawsuit aims to restore the truth and safeguard the legitimate rights and interests of minority shareholders. BESTORE believes that the legal rights and interests of Guangyuan Juyi, as a minority shareholder, have not been duly respected.
The A-share "roast duck brother" Quanjude (002186) also announced its entry into the snack track in November this year, and the company launched a snack food project and entered the snack food track with a new sub-brand "Zero Research Institute". It is reported that Quanjude will launch roast duck potato chips, roast duck floss, roast duck biscuits and other products.
According to the "2023-2024 Research Report on the Status and Consumer Behavior Data of China's Snack Food Industry" released by iiMedia Consulting, from 2010 to 2022, the market size of China's snack food industry continued to grow, from 410 billion yuan to 1,165.4 billion yuan. It is estimated that the market size of China's snack food industry will reach 1,237.8 billion yuan in 2027. iiMedia Consulting analysts believe that the leisure snack market will be more competitive in the future, and innovative products will replace conservative products.
Judging from the performance of several listed companies in the snack industry in A-shares, the performance is clearly differentiated. In the first three quarters of this year, the net profit of Yanjin Shop increased by 81% year-on-year07%, leading the performance in the industry;The net profit of BESTORE and Laiyifen appeared 33 respectively43% and 9357% decrease. I really think you have 4083 in the first three quarters of this yearA loss of 620,000.