Changes in Hong Kong stocks | Haitian Flavour (03288) is now down more than 7%, nearly 12% lower than the offering price. The company is the leading condiment industry in China

The Zhitong Finance App learned that Haitian Flavors (03288) is now down more than 7%, with an intraday low of HK$32.05, down nearly 12% from the offering price of HK$36.3. As of press release, it decreased by 6.85% to HK$33.3, with a turnover of HK$163 million.

According to public information, Haitian Flavors is committed to providing high-quality products to serve the flavoring needs of home-cooked cooking and dining experiences. The company's main categories include soy sauce, oyster sauce, sauce, specialty condiments and others. Among the main products, soy sauce products contribute the most to the company's revenue. In 2024, the company's soy sauce revenue ranked first in the global and Chinese markets. The Chinese market share was 13.2%, and the global market share was 6.2%. During the reporting period, soy sauce products accounted for 54.1%, 51.5%, and 51.1% of the company's annual revenue, respectively.

According to Frost & Sullivan's report, the company ranked first in the Chinese condiment market in terms of revenue in 2024. In 2024, China's condiment market reached RMB 498.1 billion, and the company's market share was 4.8%. The company ranked fifth in the world in terms of revenue in 2024. In 2024, the global condiment market reached RMB 2143.8 billion, and the company's market share was 1.1%. In terms of sales, the company has been the largest condiment company in China for 28 consecutive years. The company's soy sauce and oyster sauce products have ranked first in the Chinese condiment market for many years. Seasoning sauce, vinegar and cooking wine also rank among the top in the Chinese market.