Juewei Foods: Net Profit Down 15%, Central and East China Contribute Half of Revenue

Consumer Staples Author: Yue Liu Editor: Luke Sheehan Oct 29, 2020 11:47 PM (GMT+8)

Juewei Foods is still compromised by the impact of the epidemic.

Image credit: EqualOcean

On October 29, Juewei Foods, which focuses on the development, production and sales of casual braised food, released its 2020 third-quarter report. In the first three quarters, the company achieved CNY 3.89 billion revenue, a slight decrease of 0.01% year-on-year; net profit was CNY 520 million, a year-on-year decrease of 15.33%. Among them, the main business income was CNY 3.79 billion, accounting for 97.65%.

By categories, Juewei Foods’s fresh products achieved an operating income of CNY 3.62 billion, accounting for 95.42% of overall revenue. Among them, the revenue of poultry products, livestock products, vegetable products, and other products was CNY 2.85 billion, CNY 26.72 million, CNY 393 million and CNY 350 million, respectively, accounting for 75.14%, 0.70%, 10.35% and 9.21% of total revenue. Besides, packaging products realized an operating income of CNY 6.66 million, accounting for 0.17% of the total revenue.

In terms of regions, revenue generated from Central China, East China and South China ranked the top three, with operating income of CNY 1.07 billion, CNY 871 million and CNY 691 million, respectively.