Pea protein continued to increase its net profit in the first half of the year, Shuangta Foods increased by 30%

　　On August 26, Shuangta Foods announced the 2021 semi-annual report.
In the first half of the year, it achieved operating income of 1.
012 billion yuan, a year-on-year increase of 4.
11%, and net profit of 220 million yuan, a year-on-year increase of 30.
49%
.

 

　　In the first half of the year, the company continued to improve the entire industrial chain of pea.
After overcoming the impact of many unfavorable factors such as rising raw material prices and high ocean freight, the company achieved continuous improvement in its revenue structure through "one rise and one fall"; "one rise" means continuous improvement of pea Protein, vermicelli, dietary fiber, pea starch and other high-margin main business products accounted for the proportion of revenue.
"One drop" is to continue to reduce the sales of materials and other low-margin non-main business products
.

 

　　The main business continues to rise, and the profit structure trend is improving
.
The small increase in the company's operating income is due to the company's significant reduction in the volume of other non-main business such as pea trading.
The main business products, pea protein, vermicelli, dietary fiber, and pea starch, contributed a total of 899 million yuan in operating income, a year-on-year increase of 7.
54 %; accounting for 88.
83% of operating income, an increase of 2.
85% over the same period last year
.
Pea protein achieved sales revenue of 411 million yuan, an increase of 11.
68% year-on-year, accounting for 40.
64% of operating income, and gross profit contribution accounting for 74.
64%.
It has surpassed the traditional fan business and has become the company's largest main business and main profit contribution point
.

 

　　At present, the company has reached in-depth cooperation in the field of pea protein with Beyond Meat, Unilever, Cargill, DuPont, Mars, Nestle, Sojitz, and Nippon Shokken
.
Compared with the same period last year, the company has increased its supply to major pea protein customers such as Beyond Meat
.

 

　　R&D investment continues to be stable, and technology drives to consolidate the stamina for development
.
In the first half of 2021, the company's research and development expenses reached 36,804,800 yuan, accounting for 3.
64% of operating income
.
The company's pea protein extraction technology has always been at the leading level in the industry, and it has mastered three pea protein extraction technologies: biological fermentation process, dry process, and new dry process.
It has participated in "GB20371-2016-National Food Safety Standard Plant Protein for Food Processing".
"National Food Safety Standard Plant Protein Peptides", "Plant-based Meat Products" group standards and other standards are formulated.
New products, plant protein meat, plant protein milk and other new products have been launched, and products such as oligosaccharides and high fiber have been included in the reserve development.
Echelon
.

 

　　Yang Junmin, chairman of Shuangta Foods, said that the company will continue to leverage its leading advantages in the entire pea industry chain, focus on the development of its main business, accelerate the expansion of pea protein production capacity, continue to increase R&D investment, continue to increase the reserve of key products, and consolidate the stamina of the company
.
In the future, the company will focus on the development of allergen-free, non-genetically modified plant proteins, and continue to enrich plant-based protein categories
.