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According to the Red Star Capital Bureau on August 18, the 2024 interim performance report released by Weilong Delicious (09985.HK) recently showed that in the first half of this year, Weilong’s total revenue was 2.939 billion yuan, a year-on-year increase of 26.3%; net profit was 621 million yuan, a year-on-year increase of 38.9%.

Among them, the revenue of vegetable noodle products reached 1.461 billion yuan, surpassing the revenue of seasoned noodle products for the first time, with the latter's revenue of 1.354 billion yuan. Is there a trend of "de-spicy noodles" in Weilong? The relevant person in charge of Weilong told the Red Star Capital Bureau that spicy noodles are still one of Weilong's core businesses and there is still room for growth; the proportion of vegetable products is gradually increasing because the company attaches great importance to long-term development and hopes to enhance its risk resistance through a balanced operating structure.

Data and pictures from Visual China

Vegetable product revenue surpasses spicy strips for the first time

Is Weilong going to “de-spicy”?

Weilong's semi-annual report shows that during the reporting period, the revenue of seasoned noodle products was 1.354 billion yuan, accounting for 46.1% of the total revenue; in the same period last year, the company's revenue of seasoned noodle products was 1.289 billion yuan, accounting for 55.4%. Weilong said that the growth in revenue from seasoned noodle products was mainly due to the advancement of omni-channel construction, and the decline in the proportion of seasoned noodle products reflected the company's more balanced development of product categories. The announcement shows that Weilong's seasoned noodle products mainly include large gluten, small gluten, spicy sticks, small spicy sticks, kiss burn, spicy spicy and crispy fire, etc.