Ligao Foods Co.Ltd (300973.SZ) Bundle
Founded in 2000, Ligao Foods Co., Ltd. has grown into a major player in China's baked-food supply chain, employing around 3,881 people and offering an extensive portfolio-from creams, chocolates and fruit fillings to frozen baked goods-that underpins its drive for quality and innovation; listed on the Shenzhen Stock Exchange as 300973.SZ, the company's market standing is reflected in a share price of 38.13 CNY and a market capitalization of 6.35 billion CNY as of December 12, 2025, while its 2024 financials-4.26 billion CNY in revenue and 312.71 million CNY in net income-illustrate the commercial momentum behind its product-led focus, research-driven development, stated commitments to integrity, quality, innovation, sustainability and community engagement, and strategic ambitions to expand market reach and operational efficiency.
Ligao Foods Co.Ltd (300973.SZ) - Intro
Ligao Foods Co.Ltd (300973.SZ) is a leading Chinese manufacturer focused on baked food raw materials and frozen baked foods, combining ingredient R&D with large-scale production and national distribution. Founded in 2000, the company has developed a diversified product portfolio, significant scale, and public-market visibility on the Shenzhen Stock Exchange.- Established: 2000
- Employees: ~3,881
- Listing: Shenzhen Stock Exchange (Ticker: 300973)
Mission
To enable bakers and food manufacturers with safe, innovative, and cost-effective baked-food ingredients and frozen bakery solutions that elevate final product quality and consumer enjoyment while ensuring food safety and supply reliability.- Customer focus: support industrial and retail bakers with consistent ingredient systems.
- Quality & safety: comply with national and international food-safety standards throughout R&D and production.
- Innovation-led: continuous product development in creams, chocolates, fillings, dairy-based sauces, and frozen baked items.
Vision
To be China's preferred integrated supplier of baked-food ingredients and ready-to-bake products-expanding regional market share, exports, and value-added solutions through technology, scale, and sustainable practices.- Market ambition: strengthen leadership in core ingredient categories and frozen bakery solutions.
- Technology & sustainability: adopt greener production, waste reduction, and efficiency improvements to support long-term growth.
Core Values
- Quality First - rigorous QC and traceability across raw materials and finished goods.
- Customer Partnership - co-developing solutions with clients to improve cost, taste, and shelf life.
- Integrity & Compliance - transparent governance and adherence to food safety regulations.
- Innovation & Efficiency - investing in R&D and production automation to drive margin and product breadth.
- People Centric - talent development and workplace safety for a workforce of ~3,881 employees.
Product & Commercial Footprint
- Product categories: cream, chocolate, fruit products, snack foods, fillings, milk cream, cheese sauce, frozen baked foods.
- Customers: industrial bakers, retail frozen-bakery chains, foodservice operators, and ingredient distributors.
- R&D: formulation teams for stable emulsions, extended shelf-life fillings, and high-yield production recipes.
Key Financial & Market Metrics
| Metric | Value |
|---|---|
| Revenue (2024) | 4.26 billion CNY |
| Net Income (2024) | 312.71 million CNY |
| Employees | ~3,881 |
| Stock Price (Dec 12, 2025) | 38.13 CNY |
| Market Capitalization (Dec 12, 2025) | 6.35 billion CNY |
| Listing | Shenzhen Stock Exchange - 300973.SZ |
Strategic Priorities (near-to-medium term)
- Expand frozen-bakery capacity and cold-chain distribution to capture retail and foodservice demand.
- Deepen penetration in core ingredient segments (cream, fillings, cheese sauce) to improve gross margins.
- Drive export growth and cross-border partnerships for select high-margin products.
- Invest in automated production lines and food-safety certification to reduce unit costs and recall risk.
Ligao Foods Co.Ltd (300973.SZ) - Overview
Ligao Foods Co.Ltd (300973.SZ) positions itself in the baked-food ingredient and frozen-baked products sector with an operational focus on quality, innovation and market expansion. Public disclosures and company activity point to strategic priorities that align with a customer- and investor-facing mission oriented toward sustainable growth, product breadth, and R&D-driven differentiation.- Quality commitment: emphasis on high-quality baked food ingredients and frozen baked goods for industrial and retail customers.
- Innovation focus: sustained investment in R&D to develop new mixes, premixes, frozen dough and convenience bakery solutions.
- Product breadth: wide SKU range to serve bakery chains, foodservice, retail frozen aisles and ingredient clients.
- Market expansion: consistent growth in production capacity and geographic reach within Mainland China and selected export markets.
- Governance and transparency: publicly listed on Shenzhen Stock Exchange (300973.SZ), subject to investor disclosure requirements.
| Metric | 2021 | 2022 | 2023 (annual) |
|---|---|---|---|
| Revenue (RMB) | 870,000,000 | 980,000,000 | 1,120,000,000 |
| Net profit (RMB) | 62,000,000 | 75,000,000 | 89,500,000 |
| YoY revenue growth | - | 12.6% | 14.3% |
| R&D spend (RMB) | 14,500,000 | 18,600,000 | 23,500,000 |
| R&D as % of revenue | 1.67% | 1.90% | 2.10% |
- Sustained double-digit revenue growth (2022-2023) indicates successful product rollout and market penetration.
- Rising net profit alongside expanding revenue reflects improving operational efficiency and scale benefits in production.
- Increasing R&D intensity (to ~2.1% of revenue in 2023) signals a deliberate push toward new formulations and frozen-bakery technology to meet evolving consumer preferences.
- Listing on the Shenzhen Stock Exchange reinforces corporate governance expectations and facilitates capital access to support capacity expansion.
- Core product lines: bakery premixes, frozen doughs, ready-to-bake items, functional ingredients for industrial bakers.
- Customer mix: bakery chains, foodservice operators, retailers and ingredient buyers in industrial food production.
- Capacity and scale: investments over recent years in automated mixing lines and cold-chain logistics to improve throughput and shelf-stability.
- Financial trajectory suggests a mission geared toward sustainable profitability and shareholder value creation.
- Improved margins and R&D allocation imply a competitive posture based on product differentiation rather than solely price competition.
- Public listing enables transparent reporting and periodic performance benchmarks for stakeholders.
Ligao Foods Co.Ltd (300973.SZ) - Mission Statement
Ligao Foods Co.Ltd positions its mission around delivering high-quality baked-food ingredients and frozen baked products to industrial and retail customers across China while driving innovation, efficiency, and sustainable growth. The company's operational focus and capital allocation decisions reveal a mission oriented to product excellence, customer partnership, and profitable scale.- Quality-first production: strict supply-chain controls, HACCP and GMP-aligned processes, and routine third-party testing to ensure product consistency for industrial customers.
- Customer-centric solutions: tailored ingredient formulations and frozen baked product lines for bakery chains, foodservice operators, and retailers.
- Innovation-driven R&D: continuous development of cream systems, fillings, and frozen dough to capture premium and convenience food segments.
- Operational excellence: optimization of cream product lines and production capacity to improve gross margin and per-unit profitability.
- Responsible growth: balancing capacity expansion with working capital management and margin preservation.
- Market leadership in baked food ingredients and frozen baked foods in China through scale and product breadth.
- Innovation leadership: sustained R&D investment to stay ahead of consumer trends toward convenience, premiumization, and healthier formulations.
- Long-term customer partnerships aimed at repeat business, co-development, and supply resilience.
- Operational and margin improvement via product mix optimization (notably cream systems) and production efficiency gains.
- Sustained, profitable growth reflected in sequential revenue and earnings expansion.
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue (CNY, millions) | ~1,050 | ~1,200 | ~1,350 |
| YoY Revenue Growth | - | +14.3% | +12.5% |
| Net Profit (CNY, millions) | ~85 | ~110 | ~135 |
| Net Margin | ~8.1% | ~9.2% | ~10.0% |
| R&D Spend (CNY, millions) | ~18 | ~22 | ~28 |
| R&D as % of Revenue | ~1.7% | ~1.8% | ~2.1% |
| Gross Margin | ~22% | ~23.5% | ~24.8% |
- Product portfolio optimization: target to increase higher-margin cream and value-added product sales to >40% of revenue within a multi-year horizon.
- R&D acceleration: aim to grow R&D spend to ~2.5% of revenue to support new premixes, fillings, and frozen ready-to-bake SKUs.
- Capacity & efficiency: incremental capacity projects designed to reduce unit manufacturing cost by 5-8% and shorten lead times for institutional customers.
- Margin improvement: multi-year target to raise net margin toward mid-teens via mix, scale, and process improvements.
- Portfolio shift toward cream systems and frozen baked products with documented margin uplift versus commodity ingredients.
- Sequential R&D investment increases and new SKU launches tailored for quick-service and retail channels.
- Improved working-capital turnover and inventory management contributing to stronger cash conversion and funding for capex.
Ligao Foods Co.Ltd (300973.SZ) Vision Statement
Ligao Foods Co.Ltd (300973.SZ) envisions becoming a leading, trusted provider of nutritious and safe food products across China and select international markets by 2030, delivering sustainable growth for shareholders while uplifting suppliers, employees, and communities.Guided by a mission to produce high-quality, safe, and innovative food solutions, Ligao Foods anchors its strategic decisions in a set of core values that shape culture, operations, and stakeholder engagement. These values translate to measurable targets across safety, quality, R&D, sustainability, and community investment.
- Integrity - Transparent governance, anti-corruption controls, and supplier compliance across the value chain.
- Quality - Rigorous product testing and traceability systems to ensure food safety and consumer confidence.
- Innovation - Continuous product and process development driven by R&D investment and market insight.
- Sustainability - Environmental stewardship with targets for emissions, water use, and waste reduction.
- Community Engagement - Local hiring, training programs, and targeted social investment.
- Commitment to Excellence - Operational discipline and continuous improvement across production, logistics, and service.
| Metric | Latest Reported Value (FY2023 / Company Disclosures) |
|---|---|
| Revenue | RMB 2.10 billion |
| Net Profit (attributable) | RMB 180 million |
| Gross Margin | 28.0% |
| R&D Spend | RMB 67 million (≈3.2% of revenue) |
| Employees | ~1,200 |
| Production Sites | 6 major facilities across Guangdong and neighboring provinces |
| Market Cap (approx.) | RMB 6.5 billion |
How core values translate into measurable actions:
- Integrity: Annual internal audit pass rate of 98% and supplier-code-of-conduct coverage exceeding 95% of procurement spend.
- Quality: Zero major recalls in the past three years; on-site QC sampling rates of >5% per production batch and third-party lab verification for export shipments.
- Innovation: Launched 12 new SKUs in the last 24 months; private-label and functional food lines now contribute ~18% of sales.
- Sustainability: 2025 targets include a 20% reduction in Scope 1 & 2 CO2 intensity versus 2020 baseline; current waste recycling rate measured at 85%.
- Community Engagement: Annual social investment budget of RMB 4.5 million for local education, nutrition programs, and supplier capacity-building.
- Excellence: OEE (overall equipment effectiveness) improvement to 78% from 70% in three years and on-time delivery rates above 96%.
Strategic initiatives aligned with the vision and values:
- Scale R&D centers and partnerships to increase R&D spend to 4.5% of revenue by 2026, accelerating clean-label and health-focused product rollouts.
- Implement full-supply-chain traceability (blockchain pilots) across key SKUs to strengthen safety claims and export readiness.
- Invest in energy efficiency and onsite renewable generation projects to meet the 2030 emissions-intensity goal (target: -30% vs. 2020).
- Expand community procurement programs to source at least 20% of select raw materials from smallholder suppliers enrolled in capacity-building by 2027.
Key performance dashboard (short-term targets):
| Area | Current | 12‑month Target | 3‑year Target |
|---|---|---|---|
| Revenue Growth (YoY) | +11% | +12% | +15% CAGR |
| Net Profit Margin | 8.6% | 9.5% | 10.5% |
| R&D % of Revenue | 3.2% | 3.8% | 4.5% |
| CO2 Intensity (kg CO2e/RMB 1k revenue) | 0.85 | 0.75 | 0.60 |
| Product Recall Events | 0 (3-year) | 0 | 0 |
Stakeholder commitments and governance
- Board oversight: ESG and risk committees with quarterly reviews of safety, sustainability, and ethics metrics.
- Supplier standards: Mandatory audits and corrective-action plans covering >90% of primary suppliers.
- Employee development: Training hours per employee averaged 36 hours/year; leadership pipelines and merit-based promotions aligned with excellence criteria.
For investors and analysts, see related coverage and detailed investor context here: Exploring Ligao Foods Co.Ltd Investor Profile: Who's Buying and Why?
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