One of the ways that we are improving our distribution network is by utilizing cross docks, which are facilities that allow us to transfer products from one truck to another without storing them. We have cross docks in strategic locations such as Las Vegas, Ohio, Texas, and California, which enable us to reduce transportation costs, inventory levels, and delivery times. We are adding cross docks where it makes sense, as we continue to streamline and make our operations more efficient. As a reminder, in 2023 we divested our two poultry processing businesses on the east and west coast, as part of our commitment to refocusing on our core business and exiting low-margin businesses. I am pleased with what we have accomplished so far with our transformation plan, as we now have the corporate infrastructure in place to set the stage for efficiencies and success.
In 2024, we are fully committed to executing our plan diligently in order to achieve sustainable long-term growth and deliver value to shareholders. To briefly touch on our M&A growth strategy: We believe we have established ourselves as the preferred acquirer for many Asian food distributors, and we regularly have potential targets approach us first to explore opportunities. We are exploring using M&A as an opportunity to expand into new markets and regions. We believe our M&A strategy will enable us to realize significant synergies and expand our presence geographically. To sum it up, we are a trusted partner for thousands of restaurants across the United States, offering them high-quality specialty products that deliver authentic experiences.
We provide restaurant owners with a one-stop-shop that combines a friendly cultural connection and national scale, enabling them to serve their customers with quality products at affordable prices. We are well-positioned to capitalize on the growing demand for Asian food, driven by favorable market trends and demographics. We have the infrastructure, industry knowledge, and experience to support our growth. Thanks to our deep understanding of our customers’ needs, their loyalty and satisfaction have helped us to build HF Foods into an enterprise that generates over $1.1 billion of net revenue annually. Our long-term financial profile is attractive, with a clear strategy to expand margins and grow revenue. We are laser focused on executing our transformation plan to improve operations as we continue to pursue growth.
We are proud of our progress so far and believe that our financial metrics will reflect our success in the upcoming quarters. We look forward to speaking with you again on our first quarter earnings call and updating you on the progress of our operational transformation plan. Thank you everyone and have a great day.
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