“The No. 1 Internet Casual Snacks”three squirrelsOn the evening of April 22, the 2021 annual report was disclosed. Last year, the operating income was 9.770 billion yuan, a year-on-year decrease of 0.24%; the net profit was 411 million yuan, a year-on-year increase of 36.43%.
The first quarterly report for 2022 released on the same day showed that in the first quarter of this year, the three squirrels achieved operating income of 3.089 billion yuan, a year-on-year decrease of 15.85%; net profit was 161 million yuan, a year-on-year decrease of 48.75%.
The continuous impact of traffic differentiation and repeated epidemics has led to the decline of traditional e-commerce revenue and the slowdown of store business growth. The three squirrels clearly defined the main strategy of “focusing on nuts”, continuously improved brand power and product power, and comprehensively deployed the offline distribution market. to promote new growth. The three squirrels achieved 5.058 billion yuan in nut category revenue last year, a year-on-year increase of 4.33%, and the category proportion further increased.
In terms of profit growth, in the first half of last year, the three squirrels achieved significant profit growth through omni-channel cost control and improved supply chain efficiency; however, in the second half of last year, the investment in branding costs of 100 million yuan around the main brand, Nut Mind, affected short-term profits to a certain extent. Performance.
In terms of channel sales, following years of development, the three squirrel Taobao stores now have 45.11 million fans, and JD.com stores have 66.32 million fans, ranking first in the snack category. With the help of the national brand potential, three-dimensional sales channels covering e-commerce, distribution, and stores have been formed. In 2021, the company’s omni-channel sales revenue will be 9.77 billion yuan.
Regarding the fluctuation of profits in the first quarter, the three squirrels pointed out that the main reason is that the price of some raw materials has risen, which has led to the decline in the gross profit margin of major products; and the continuous intensification of traffic differentiation and competition, the continuous investment of more than 100 million yuan in brand expenses
For future development, the three squirrels issued a strategic transformation and upgrading announcement on April 22, clarifying that in the next ten years, “focusing on the nut industry and creating a multi-brand model”, fully suspending store expansion, focusing on the development of high-quality stores, and optimizing SKU. In addition, it will increase technological research and development to lay a solid foundation for future growth.
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Responsible editor: Wang Jiarui
