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Yanjin Food plans to invest 220 million yuan to build an overseas production base. Its revenue may exceed 5 billion yuan for the first time in 2024.

Pubtime：2025-03-05Author：Source： Hits：

"Intensifying efforts in the Southeast Asian market and expanding into the Japanese, South Korean, European and American markets." This is the New Year's goal of Zhang Xuewu, the chairman of Yanjinpuzi.
On the evening of February 24th, Yanjinpuzi announced that to meet the needs of the company's overseas business strategic development, it plans to set up a wholly-owned subsidiary in Thailand and invest in building a production base there. The investment amount for this project is approximately 220 million yuan.
Yanjinpuzi stated that by deepening global industrial chain collaborative innovation and resource integration, the company will fully activate the growth momentum of its overseas business, thereby enhancing the company's market competitiveness and brand awareness, creating a new growth curve, and further consolidating and improving its industry position, which is in line with the company's long-term development strategy and investment direction.
In terms of performance, in the first three quarters of 2024, Yanjinpuzi achieved a revenue of 3.861 billion yuan, an increase of 28.49% year-on-year; a net profit of 493 million yuan, an increase of 24.55% year-on-year.
The reporter from Changjiang Business Daily found that if the company continues its previous growth trend in the fourth quarter, Yanjinpuzi's full-year performance in 2024 will reach a new high, and its revenue is expected to exceed 5 billion yuan for the first time.
Continuously focusing on seven core categories
Yanjinpuzi has always focused on its main business, concentrating on the snack food industry, and has long adhered to independent manufacturing.
Since its establishment in August 2005, Yanjinpuzi started with local specialty preserved fruits and has grown into a well-known enterprise in China's snack food industry and agricultural product deep processing industry, integrating R&D, production, and sales.
Since 2018, Yanjinpuzi has successfully created a second growth curve in the category of Chinese and Western-style baked snacks, adding new products such as bread, cakes, potato chips, sesame seed cakes, jelly puddings, egg snacks, and dried fruits and nuts.
In 2023, Yanjinpuzi achieved a revenue of 4.115 billion yuan, an increase of 42.22% year-on-year; a net profit of 506 million yuan, an increase of 67.76% year-on-year; and a non-GAAP net profit of 476 million yuan, an increase of 72.83% year-on-year.
The reporter found that compared with the revenue of 2.894 billion yuan in 2022, Yanjinpuzi's revenue in 2023 directly crossed the 3 billion yuan mark and entered the 4 billion yuan range, setting a new high. At the same time, the company's net profit and non-GAAP net profit also reached their best levels in history.
In the first three quarters of 2024, Yanjinpuzi achieved a revenue of 3.861 billion yuan, an increase of 28.49% year-on-year; a net profit of 493 million yuan, an increase of 24.55% year-on-year; and a non-GAAP net profit of 424 million yuan, an increase of 12.90% year-on-year.
Yanjinpuzi stated that from January to September 2024, the company's multiple channels and multiple categories achieved rapid development, continuously focusing on seven core categories: spicy and pickled snacks, deep-sea snacks, baked snacks, potato snacks, konjac jelly puddings, egg snacks, and dried fruits and nuts, fully polishing the supply chain and upgrading product quality.
The reporter found that if the company continues its previous growth trend in the fourth quarter, Yanjinpuzi's full-year performance in 2024 will reach a new high, and its revenue is expected to exceed 5 billion yuan for the first time.

Continuously Strengthen Channel Penetration
It is worth noting that after undergoing transformation and upgrading in 2021, Yanjinpuzi has gradually seen the effects of scale since 2022. The company's products have evolved from "high quality at high cost + high cost-effectiveness" to "high quality at low cost + high cost-effectiveness".
In 2023, Yanjinpuzi's strategic focus shifted from "product + channel" dual-wheel growth to "channel supremacy, product leadership, and system support", continuously strengthening channel penetration, further enhancing product quality, adhering to consumer demand orientation, focusing on brand building, and constructing systematic upgrades and innovations in business structure and organizational framework.
However, under these strategies, Yanjinpuzi's gross profit margin has gradually declined. From 2020 to 2023, the company's gross profit margins were 43.83%, 35.71%, 34.72%, and 33.54% respectively. In the first three quarters of 2024, the company's gross profit margin was 31.84%.
An industry insider told reporters that Yanzhijuzi's transformation and upgrading can be simply described as improving product cost-effectiveness. It accurately predicted the development trend and met the current demands of the domestic consumer market, providing impetus for the company's stable development.
Yanjinpuzi stated that its main brand "Yanjinpuzi" always strives to offer consumers safe, delicious, and healthy brand snacks at the lowest possible price.
At the same time, Yanjinpuzi introduced that in the future, the company will take new quality productivity as the driving force, focus on the research and development, production, and sales of snack foods, strengthen core competitiveness, and promote high-quality development to a new level. It will adhere to the principle of putting investors first, continuously improve the quality of information disclosure, enhance investors' sense of gain, and implement the "quality and return dual improvement" action plan effectively.

Saltwin plans to build a production base in Thailand
How can the company maintain its growth? Saltwin has set its sights on overseas markets.
On the evening of February 24th, Saltwin announced that to meet the needs of its overseas business strategic development, it plans to establish a wholly-owned subsidiary in Thailand and invest in building a production base there. The total investment for this project is approximately 220 million yuan (or 30 million US dollars, with the final investment amount subject to actual investment), covering but not limited to land purchase, construction of new factories and supporting facilities, and acquisition of fixed assets.
The announcement stated that to ensure the implementation of this project, Saltwin plans to invest approximately 1.0638 million yuan (or 5 million Thai baht) of its own funds to establish a wholly-owned subsidiary, Saltwin Food (Thailand) Co., Ltd. (tentative name, subject to final registration), as the project's implementation entity. The company aims to build an intelligent production base focusing on core products such as konjac and potato chips, and further promote overseas business expansion through supply chain layout.
Saltwin stated that by deepening global industrial chain collaborative innovation and resource integration, the company will fully activate the growth momentum of its overseas business, thereby enhancing its market competitiveness and brand awareness, creating a new growth curve, and further consolidating and improving its industry position, which is in line with the company's long-term development strategy and investment direction.
Previously, on January 8th, Saltwin announced that it had invested in setting up a wholly-owned overseas subsidiary, Saltwin Food Vietnam Co., Ltd. (tentative name) in Vietnam with its own funds. The registered capital of Saltwin Vietnam is 30.56 billion Vietnamese dong (approximately 882,300 yuan). After this investment, Saltwin Vietnam has become the company's wholly-owned overseas subsidiary.
Previously, Saltwin's chairman, Zhang Xuewu, introduced that in 2024, the company's overseas sales strategy has shown results, with the Southeast Asian market becoming a new growth market. Zhang Xuewu also clearly stated that in 2025, the company will focus on the Southeast Asian market with konjac and quail egg products as core categories, and expand into the Japanese, Korean, and European and American markets, promoting the Mowon brand of Chinese spicy snacks globally.