[Opportunity mining]Foshan introduced the “Thirteen Articles” of pre-made dishes, and the agency said that the industry has a lot of room for follow-up improvement_ Securities Times Network

According to reports, on August 22, it was learned from the Foshan Municipal Bureau of Agriculture that the “Foshan City’s Implementation Plan for Accelerating the High-Quality Development of the Prefabricated Vegetable Industry” has been officially released, focusing on building industrial parks with cluster development, striving for quality and safety management systems, and improving quality and safety management systems. The warehousing and cold chain logistics network has deployed 13 key tasks, and proposed to strive to build more than 3 provincial-level prefabricated vegetable industrial parks in 3 years (2022-2024), and cultivate more than 5 leading agricultural enterprises of prefabricated vegetables with an annual output value exceeding 100 million yuan, so that Foshan’s prefabricated vegetable industry is basically complete, and the level of standardization has been significantly improved.

Industrial Securities pointed out that the definition of pre-made vegetables is wide, involving players running through the upper, middle and lower reaches. Before the epidemic, the pre-made vegetables industry has shown a high degree of industry prosperity. In 2019, the industry growth rate exceeded 40%, and the CAGR in the past three years was 33.2%. It is developing rapidly. The development history of pre-made dishes can be seen in the review. With the entry of international fast food giants into China, the standardization of the B-end has created demand, and the C-end has accelerated the cultivation of demand due to the penetration of the catering end and the catalysis of the epidemic. We calculate from the two dimensions of the proportion of catering raw materials and the penetration rate. It is estimated that the scale of pre-made dishes in 2021 will be about 300 billion, of which the B-end will account for 80%. 24%, of which the B side accounts for 70%.

The agency believes that pre-made dishes are an emerging long-term track in quick-frozen food, with a low current penetration rate and large room for subsequent improvement. Referring to the development logic of the industry and the development history of daily cooling, the entry into the pain points of product demand and the layout management of channels are the core elements of development. Therefore, it is judged that the quick-freezing-related enterprises have a high probability of making a scale in the field of prepared dishes, that is, the increase in the penetration rate of new products. It will become another catalyst for the stock price. Among them, we recommend Anjing Foods, which has a strong scale effect on the production side, and Qianwei Yangchu, which has a solid foundation for big B and accelerated development of small and medium Bs. The “product logic” has begun to be realized, and the potential new products are waiting to be released. Whole Foods.