The staking of new tea drinks is obvious, but the suppliers behind them are also making money silently.

　　In less than a year, some of the various suppliers and companies behind Nai Xue's brands such as Tea, Tea Baidao, and Luckin Coffee have been successfully listed, and some are gearing up.

The main businesses of these suppliers range from sweeteners to raw juices to tableware.

　　However, although these suppliers emerging due to new consumer brands can meet the periodic expectations of capital, in order to achieve sustainable development in the future, they also need to solve the high risk of customer concentration.

Listed successively, with considerable net profit growth

　　According to the "White Paper on New-Style Tea Brand Management", based on the strong consumption power, it is expected that the scale of new-style tea beverages will exceed the 140 billion yuan mark in 2023.

With the characteristics of high appearance, diverse taste, freshness and “emotional value”, the new-style tea has become the most popular with young consumers in recent years, with the fastest growth rate and the greatest potential.

　　At present, although the competition pattern of new tea brands has gradually stabilized, each tea brand mainly relies on innovation in the middle and late stages of competition to maintain stability or expand new consumer groups.

However, the overall growth rate of the industry is still considerable, and the suppliers behind it also continue to profit from customers.

　　The net profit attributable to the parent company of Sanyuan Bio (301206.SZ) has been significantly improved in recent years.

The net profit attributable to the parent from 2018 to 2021 was 68.09 million yuan, 136 million yuan, 236 million yuan and 535 million yuan respectively.

The company was founded in 2007.

The company is a biological high-tech enterprise established on the basis of the "fermentation production erythritol project", dedicated to the production of erythritol and the research and development of new multifunctional sugars.

The sweetener "erythritol" is the main sugar substitute of Yuanqi Forest.

　　At the beginning of this year, Sanyuan Bio was listed on the Shenzhen Stock Exchange, but the stock price after the listing has fallen sharply, and it has fallen by 60% so far.

　　In June this year, Tianye shares (A22158.BJ) submitted a listing application to the Beijing Stock Exchange.

The prospectus shows that Tianye Shares is a supplier of tea chain brands such as Nongfu Spring, Naixue’s Tea, Tea Baidao, and Yidian. The company’s net profit from 2019 to 2021 is 24.3209 million yuan, 21.0017 million yuan, and 65.1716 million yuan respectively. Yuan.

The company's net profit will increase significantly in 2021.

　　In May of this year, Hengxin Life (A22099.SZ) also applied for listing on the Growth Enterprise Market. The company's main products are tableware and cups made of degradable plastics such as PLA (new biodegradable materials). The main customers are Luckin and Starbucks. , HEYTEA, Michelle Bingcheng, etc.

From 2019 to 2021, the net profit fluctuated to a certain extent, which were 70.2528 million yuan, 26.0865 million yuan and 80.2673 million yuan respectively.

　　On July 5, the China Securities Regulatory Commission disclosed the prospectus of Dexin Foods (A22525.SZ), and Dexin Foods plans to be listed on the Shenzhen Main Board.

The company focuses on the research and development, production and sales of ready-made beverage ingredients. Customers provide a series of beverage concentrates including fruit and vegetable juice beverage concentrates, vegetable protein beverage concentrates, and NFC tea soup.

Customers include Starbucks, Luckin Coffee, 7FenTian, ​​Michelle Bingcheng, etc.

From 2019 to 2021, the company's net profit was 80.1227 million yuan, 68.7191 million yuan and 95.4726 million yuan respectively.

　　On July 15, Baoli Foods (603170.SH) landed on the Shanghai Stock Exchange.

The company's main business is the research and development, production and technical services of food seasonings. The products include compound seasonings, light cooking solutions and beverage and dessert ingredients.

Customers include HEYTEA, KFC, Pizza Hut, etc.

The company's net profit attributable to the parent from 2019 to 2021 was RMB 81 million, RMB 134 million, RMB 96 million and RMB 185 million, respectively.

Deep reliance on large customers

　　In 2021, Sanyuan Bio's top five customers will account for 40.42% of the company's sales.

In the three years from 2019 to 2021, Tianye shares, the role of the largest customer is constantly changing, but what remains the same is that the revenue contributed by the largest customer has been changing between 13% and 23%.

The total revenue of the top five customers has increased from 49.68% in 2019 to 68.17% in 2021. Among them, the revenue of tea from Nai Xue reaches 20.04% of the company's total revenue.

　　Similar to Tianye Shares is Dexin Foods.

From 2019 to 2021, the sales amount of Dexin Food's top five customers accounted for 55.16%, 50.91%, and 54.17% of the revenue in the same period, respectively.

In 2019 and 2020, Dexin Food's largest customer is Starbucks, of which Starbucks contributed 32.6% of its sales in 2019 and 22.25% in 2020.

However, in 2021, Luckin Coffee will replace Starbucks as the largest customer.

　　The proportion of revenue contributed by the top five customers of Baoli Foods is declining year by year, but until 2021, the revenue contributed by the top five customers is still as high as 36.71%.

　　Bai Wenxi, chief economist of IPG China, believes that the risk of excessive customer concentration and excessive dependence on a single customer is not conducive to the stable development and sustainable operation of the company. Lines, customers, and market diversification to solve problems.

　　However, he believes that these suppliers emerging due to new consumer brands can meet the staged expectations of capital because of their high growth potential and market space imagination, and support their successful listing.

However, in order to achieve sustainable development in the future, it is also necessary to solve the risk problems of too single product line and too high customer concentration.