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Public company info - Natural Food International Holding Limited , 01837.HK
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Natural Food International Holding Limited, 01837.HK - Company Profile
Chairman GUI Changqing
Share Issued (share) 2,189,000,000
Par Currency U.S. Dollar
Par Value 1.0E-5
Industry Packaged Foods
Corporate Profile Business Summary: The Group is principally engaged in processing and selling natural health food in the People’s Republic of China (the “PRC”). Performance for the year: As at 31 December 2019, the Group recorded a revenue of RMB1,784.1 million, representing a year-onyear decrease of 1.9%. The Group recorded a net profit of RMB126.3 million, representing a year-on-year increase of 20%. Business Review PRODUCTS In 2019, the Group continued to develop the natural mixed grain powder products as its key category and consistently improved the formula and upgraded the packaging of existing key products, with a view to consolidating the market leading position of its key products. At the same time, in order to meet consumers’ demand for healthy food under different consumption scenarios, the Group took the lead to introduce and develop new product categories, aiming to provide consumers with natural, healthy, additive-free, delicious and convenient products. In 2019, “Eight Treasure” probiotics & grains powder（益生元八珍粉）, one of the Company’s key products, collaborated with Beijing Meiweifengyun Culture Development Co., Ltd.（北京美味風雲文化發展有限公司）to launch the forbidden city co-branded product featuring “palace healthcare”. In addition, after extensive market research, the Group has developed a variety of convenient healthy food products for easy carrying and consumption, and launched different types of high-end fruit oatmeal and snacks, including rainbow crisp, black sesame pellets, red bean and pearl barley pellets, which were well received by consumers. OFFLINE CHANNELS The Group has focused its business development in China for more than a decade and has established a nationwide sales network. As at 31 December 2019, the Group operated 3,399 concessionary counters in 289 cities across 30 provinces and municipalities in China. During the reporting period, the Group newly opened 462 concessionary counters with growth potential. Meanwhile, in order to enhance the sales efficiency of offline sales channels and stimulate the sales momentum of individual concessionary counters, the Group proactively closed a total of 958 concessionary counters which did not meet the Company’s expectation during the reporting period, of which 650 were closed in the first half of 2019 and 308 were closed in the second half of 2019. Although the closure of concessionary counters reduced the Group’s offline sales revenue, the Group is of the view that the closure of these concessionary counters will benefit the long-term and efficient development of offline sales channels. As at 31 December 2019, sales from offline concessionary counters amounted to RMB1,362.5 million, representing a decrease of 7.9% as compared to that in the same period in 2018. In addition, offline sales channels, as an important brand promotion window of the Company, continued to attract registered members to the Group. As at 31 December 2019, the Group has attracted approximately 25 million registered members. ONLINE CHANNELS In 2019, the Group continued to expand the share of sales through online channels, including the e-commerce platform and the self-operated WeChat member store. As at 31 December 2019, the sales of online channels amounted to RMB421.6 million, representing an increase of 24.2% as compared with that in the same period of 2018. The proportion of online channel sales to total revenue increased to approximately 23.6% (2018: 18.7%). In respect of the e-commerce platform, the Group continued to provide consumers with an enriched portfolio of health food on Tmall, JD.com, VIP.com and other platforms on the one hand, and enhance consumer experience with excellent services on the other hand. The Group formulated specific marketing plans according to different festivals and promotional events. During key promotion periods, such as “618” and “Singles’ Day”, the Group has achieved satisfactory performance, and has achieved the largest GMV for Alibaba’s Singles’ Day promotion among instant mixture products for three consecutive years. As at 31 December 2019, sales on e-commerce platforms amounted to RMB322 million, representing an increase of 34.6% as compared to that in the same period of 2018. In respect of the self-operated WeChat member store, the Group has been striving to develop it into a “healthy lifestyle platform” to continuously provide consumers with useful health consultation and products. As a result, the Group has accumulated a large number of WeChat followers who are active in WeChat member store and WeChat official accounts. As at 31 December 2019, the Group has attracted approximately 7.8 million followers (2018: 6.9 million). However, WeChat has adjusted the platform policy since the beginning of 2019, which limited the tools for the Group to access consumers. As a result, sales of The group’s self-operated WeChat member store amounted to RMB99.6 million as at 31 December 2019, representing a decrease of 0.6% as compared to the same period in 2018. PRODUCTION CAPACITY In view of the increasing demand for natural health food in China, the Group commenced the construction of a new manufacturing base in Nansha District, Guangzhou, China in March 2018. The new production base has a gross floor area of 60,000 sq.m.. The acceptance of main and ancillary works is expected to be completed by the end of 2020. Upon completion and full operation of the new manufacturing base, it is expected that the maximum production capacity of the Group will be increased to 40,000 tonnes per annum. OPTIMIZATION OF SHAREHOLDING STRUCTURE On 26 July 2019, PepsiCo, Inc., a renowned international food and beverage giant, purchased a total of 566,506,000 ordinary shares in the Company at HK$1.80 per share, representing approximately 25.84% of the total issued shares of the Company as at 25 July 2019, and became the second largest shareholder of the Company. The transaction is the first strategic investment made by PepsiCo, Inc. in China. Prospects: Benefiting from the increasing purchasing power and health awareness of consumers in China, the Group is confident in the future. The Group will maintain and strengthen its leading market position as a well-known natural health food company in China, and therefore implement the following strategies: • Continue to optimize the product mix, develop new core powder products and make every endeavour to develop new product categories with promising potential; • Continue to strengthen existing sales channels and take the lead to explore new channels; • Continue to strengthen the management of followers; and • Focus on marketing and promotional activities to enhance brand competitiveness.

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