---
title: "Anjoy Issues Performance Forecast: Revenue Up Over 30% to Nearly 7 Billion Yuan, Net Profit Soars Over 60% to 600 Million Yuan."
description: "Today, Anjoy Food released its 2020 annual performance forecast: according to preliminary calculations by the company's finance department, it expects to achieve operating revenue of approximately 6.965 billion yuan in 2020, an increase of about 1.698 billion yuan from the same period last year, up approximately 32.24%. It also expects net profit attributable to shareholders of the listed company to be around 600 million yuan, an increase of about 227 million yuan from the same period last year, up approximately 60.86%. The net profit growth rate is higher than the revenue growth rate mainly due to..."
author: "New Distribution"
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published: "2021-01-25"
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# Anjoy Issues Performance Forecast: Revenue Up Over 30% to Nearly 7 Billion Yuan, Net Profit Soars Over 60% to 600 Million Yuan.

> Today, Anjoy Food released its 2020 annual performance forecast: according to preliminary calculations by the company's finance department, it expects to achieve operating revenue of approximately 6.965 billion yuan in 2020, an increase of about 1.698 billion yuan from the same period last year, up approximately 32.24%. It also expects net profit attributable to shareholders of the listed company to be around 600 million yuan, an increase of about 227 million yuan from the same period last year, up approximately 60.86%. The net profit growth rate is higher than the revenue growth rate mainly due to...

Today, Anjoy Food released its 2020 annual performance forecast: according to preliminary calculations by the company's finance department, it expects to achieve **operating revenue of approximately 6.965 billion yuan in 2020, an increase of about 1.698 billion yuan from the same period last year, up approximately 32.24%.**
According to preliminary calculations by the company's finance department, it expects **net profit attributable to shareholders of the listed company to be around 600 million yuan in 2020, an increase of about 227 million yuan from the same period last year, up approximately 60.86%.**
The net profit growth rate being higher than the revenue growth rate is mainly due to the profit side, as the year-on-year increase in gross margin of products was greater than the increase in expense ratio.
The impressive performance undoubtedly confirms that 2020 was a big year for frozen food.
The pandemic opened the door to the "stay-at-home economy," **with increased home consumption, which added the logic of increased home consumption on the C-end to the original B-end food industrialization of the frozen food industry,** thus propelling it upward.
After the pandemic, the frozen food industry should see some correction, but growth will continue. Subsequent growth will be based on two main points:
**First, the dividend of industry consolidation towards leading companies.** As the absolute leader in frozen hot pot ingredients, Anjoy Food has a market share of about 5%, while the CR5 market share is only 15%. Therefore, the current market concentration of frozen hot pot ingredients is still relatively low, and it is still in the integration stage. The rise of brands is expected to become the theme of the next stage.
**Second, the company's own dividend from continuous innovation, upgrading, and iteration.**
In terms of products, Anjoy Food's high-end single products "Fresh Lock" and "Three Big Balls" successfully seized the industry's high ground. In the first half of 2020, the large-scale volume release of the new Fresh Lock series promoted the company's surimi product revenue to increase by 30.31% compared with the same period last year, effectively driving the rise in performance.
In addition, the production capacity issue that limited Anjoy's development in previous years has been addressed with the establishment of new production bases in recent years, investing substantial resources. Currently, there is abundant production capacity under construction, with factories in 7 major production bases nationwide. This will not only solve the problem of production capacity restricting the company's development but also further reduce logistics costs for Anjoy.
In the previous third-quarter report, Anjoy's revenue growth rates in all regions except Northeast and East China were above 30% in the first three quarters; in Q3 alone, revenue growth rates in all major regions exceeded 30%. The main reason was the steady increase in production capacity after the fundraising factories were put into operation, with each sales region strengthening channel construction and further intensifying market cultivation, thereby driving continuous improvement in overall sales.
In 2020, marketing and promotion in channels such as supermarkets and e-commerce became the main driving force for Anjoy's performance growth. In addition, Anjoy provides "close support" to distributors, mainly reflected in helping distributors develop C-end terminals such as supermarkets and wet markets, and assisting distributors in opening online live-streaming rooms and other emerging marketing models, with remarkable results.
In terms of channels, Anjoy's distributor system has always been in a leading position in the industry, and it holds an absolute advantage in the catering market. These will undoubtedly continue to add points to Anjoy. With such impressive performance, its market value may continue to rise in the future.
Anjoy Food stated that in response to changes in the external consumption environment, **it will adjust its channel strategy from "mainly catering circulation channels, supplemented by supermarket and e-commerce channels" to "balancing B-end and C-end, dual-wheel drive," simultaneously developing B-end and C-end channels, enhancing the competitiveness of large single products across all channels, and increasing the market share of frozen food.**
Anjoy Food once stated in its 2019 financial report that the competitive landscape of the frozen flour and rice products industry is relatively stable, but the steamed bun and pastry segment has greater market potential and faster growth. It will aim to create super large single products in the steamed bun and pastry segment and promote flour and rice products from East China to the whole country.
The financial report shows that from 2017 to 2019, Anjoy Food's flour and rice products have become the second largest revenue item after surimi products.
Overall, in the post-pandemic era, with strong support from both the demand side and the supply side, China's frozen food industry has great potential and development space.
For frozen food companies, enriching their product lines to broaden consumption scenarios, improving R&D and innovation capabilities to meet new user needs, and integrating the industry chain to maximize benefits will become the focus of the future.
As one of the leading companies in the industry, Anjoy has fully demonstrated its management capabilities, supply chain advantages, and channel advantages, and the market share of leading companies is expected to increase significantly.
**With domestic and international economic pressures, small and medium-sized enterprises will accelerate their exit, and Anjoy has the development dividend given by the times. Whether it can lead in the future will still depend on the strategic layout of products and channels.**
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