A-Share Listed Condiment Companies - Profiles and Financial Data
Condiments are food ingredients added to food to enhance the taste. In terms of sources, most condiments directly or indirectly come from plants. Only few condiments are animal extracts and chemical synthetic ingredients.
There are lots of condiments in China, the majority of which are soy sauce, vinegar, gourmet powder, paste and chicken essence.
With growing Chinese economy and improving residents' living standards, condiment products become increasingly specialized and functionalized with a constantly growing demand. CRI survey indicates that in 2016, the global market size of condiment exceeded USD 300 billion, while the difference of business revenue reached more than 10 times between China and the world. Additionally, with a per capita consumption being less than half of the global average, China still has much room to grow.
In 2016, the market size of condiment amounted to over CNY 200 billion. The largest sub-industry of condiment is the vinegar and soy sauce industry, with a market size of over CNY 100 billion in 2016. The production volume of soy sauce and vinegar exceeded 10 million tons and that of gourmet powder was over 2 million tons.
According to CRI, due to a series of food safety accidents in recent years, the Chinese government strengthened regulations of food safety and revised the policies and guideline of the condiment industry in order to promote the sustainable development of the industry. With upgrading condiment market in China, compound condiments and other new products will greatly change the current market. Meanwhile, traditional condiments such as soy sauce and vinegar will see market segmentation to meet diversified demand. For example, soy sauce can be subdivided into cold-dish, braised dish and children’s soy sauce, and vinegar has white and apple vinegar. Generally speaking, the condiment industry will continue to develop in the next few years.
In this report, CRI analyzes 11 condiment manufacturers listed in A-share market in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1)financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
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