香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或因依賴該 等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：220） 2024年中期業績公告 統一企業中國控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然提呈本公司及其附屬公 司（合稱「本集團」或「我們」）截至2024年6月30日止6個月（「回顧期」）未經審核簡明綜合中期財務資 料。該簡明綜合中期財務資料未經審核，但已由董事會之審核委員會（「審核委員會」）及本公司獨 立核數師羅兵咸永道會計師事務所按照香港會計師公會頒布之香港審閱準則第2410號「由實體的 獨立核數師執行中期財務資料審閱」進行審閱。 1 • 收益為人民幣15,448.6百萬元，上升6.0% • 本集團毛利率為33.8%，上升2.7個百分點 • 未計利息、稅項、折舊及攤銷前盈利為人民幣1,893.5百萬元，上升5.6% • 本公司權益持有人期間應佔溢利為人民幣965.7百萬元，上升10.2% 經濟環境分析 2024年上半年中華人民共和國（「 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [3][4]. Core Views - Post-pandemic revenue has returned to a growth trajectory, with the beverage business identified as the core growth driver and profit margins showing an improving trend [3][8]. - The company has implemented a 100% dividend payout policy since 2018, currently reflecting a dividend yield of 8% based on the stock price [3][8]. - The projected EPS for 2024, 2025, and 2026 is estimated at 0.42, 0.46, and 0.49 CNY respectively, with a corresponding PE of 15X for 2024 [3][8]. Summary by Sections 1. Investment Recommendation - The company operates in a sector with rigid demand for instant noodles and beverages, showcasing strong product innovation capabilities, which suggests it can withstand economic cycles [8]. - Key growth drivers include the increase in short-distance travel boosting beverage market expansion, product innovation catering to younger consumers, and diversification of distribution channels [8]. - Revenue CAGR is expected to be around 5% from 2024 to 2026, with net profit CAGR projected at 7% during the same period [8]. 2. Company Overview - Founded in 1992, the company is a diversified multinational group primarily engaged in food and beverage, with a market capitalization of 30.8 billion HKD as of June 28, 2024 [9]. - The company has experienced a recovery in revenue growth after a stagnation period, achieving a record revenue of 28.59 billion CNY in 2023 [14]. 3. Competitive Advantages - The company emphasizes product innovation, having successfully launched several major products that have become market leaders, such as Assam milk tea and various instant noodle lines [20][22]. - Organizational efficiency has significantly improved, with revenue per employee increasing threefold since 2007, indicating enhanced productivity [24]. 4. Growth Potential - The company is well-positioned to capitalize on the growing trend of short-distance travel, which is expected to drive food and beverage sales [30]. - There is substantial room for expansion in retail outlets, with a focus on enhancing distribution networks and exploring new sales channels, including online platforms [30][31].

食品饮料 公 司 研 究 / 公 司 深 度 报告原因:首次覆盖 | 市场数据: | 年 06 月 27 日 | |--------------------------|----------------------------| | 收盘价(港币) | 7.09 | | 恒生中国企业指数 | 6324.05 | | 52 周最高 / 最低(港币) | 7.55/4.30 | | H 股市值(亿港币) | 306.24 | | 流通 H 股(百万股) | - | | 汇率(人民币/港币) | 1.0956 | 一年内股价与基准指数对比走势: 64% -36% 06/2707/2708/2709/2710/2711/2712/2701/2702/2703/2704/2705/2706/27 HSCEI 统一企业中国 资料来源:Bloomberg | 证券分析师 | |--------------------------| | 吕昌 A0230516010001 | | lvchang@swsresearch.com | | 周缘 A0230519090004 | | zhouyuan@swsresearch.co ...

Financial Performance - Revenue for the year 2023 reached RMB 28,591,271 thousand, a 1.2% increase from RMB 28,257,432 thousand in 2022[10] - Gross profit for 2023 was RMB 8,711,731 thousand, up 6.4% from RMB 8,187,917 thousand in 2022[10] - Profit before income tax in 2023 was RMB 2,239,924 thousand, a 29.4% increase from RMB 1,730,829 thousand in 2022[10] - Net profit attributable to equity holders of the company for 2023 was RMB 1,667,060 thousand, a 36.4% increase from RMB 1,222,157 thousand in 2022[10] - Basic earnings per share for 2023 were RMB 38.60 cents, a 36.4% increase from RMB 28.30 cents in 2022[10] - Dividends for 2023 were RMB 1,833,769 thousand, a 25% increase from RMB 1,466,588 thousand in 2022[10] - The Group's revenue in 2023 reached RMB 28,591.3 million, a 1.2% increase year-over-year, with post-tax profits of RMB 1,667.1 million, up 36.4%[12] - Revenue for 2023 increased by 1.2% to RMB28,591.3 million compared to RMB28,257.4 million in 2022[123] - Gross profit increased by 6.4% to RMB8,711.7 million, with gross profit margin rising by 1.5 percentage points to 30.5%[123] - Operating profit increased by 33.5% to RMB1,996.5 million, partly due to a one-off gain of RMB351.4 million from land disposal[123] - Profit attributable to equity holders increased by 36.4% to RMB1,667.1 million, with earnings per share at RMB38.60 cents[123] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 22,134,218 thousand, a 1.6% increase from RMB 21,784,355 thousand in 2022[11] - Total liabilities as of December 31, 2023, were RMB 8,751,841 thousand, a 1.7% increase from RMB 8,603,002 thousand in 2022[11] - Total equity as of December 31, 2023, was RMB 13,382,377 thousand, a 1.5% increase from RMB 13,181,353 thousand in 2022[11] - Cash and cash equivalents as of December 31, 2023, were RMB 931,995 thousand, a 758.7% increase from RMB 108,519 thousand in 2022[11] - Cash and bank balances increased to RMB7,565.5 million as of December 31, 2023, up from RMB6,654.2 million in 2022[125] - Total financial liabilities increased by 24.1% to RMB1,079.4 million, primarily due to short-term borrowings[125] - Cash and cash equivalents increased by RMB823.5 million year-on-year, with net cash inflow from operating activities of RMB3,053.5 million, net cash outflow from investing activities of RMB947.0 million, and net cash outflow from financing activities of RMB1,282.5 million[130][134] - Capital expenditure for 2023 was RMB1,078.8 million, a significant increase from RMB545.9 million in 2022, primarily due to investments in marketing assets and facility upgrades[130][134] - Net trade receivables decreased by RMB234.1 million to RMB585.8 million, mainly due to delayed product preparation for Chinese New Year[131][135] - Inventories decreased by RMB396.6 million to RMB2,125.9 million, with inventory turnover days reduced by 2 days to 42 days[136][137] - Trade payables decreased by RMB552.4 million to RMB2,122.6 million, also influenced by the delayed Chinese New Year preparation[136][137] - Financial assets at fair value through profit or loss increased to RMB1,618.7 million from RMB1,018.5 million in 2022[129][132] - The gearing ratio increased to -48.47% from -43.89% in 2022, calculated as net cash divided by total equity[128][132] - Cash at bank and on hand reached RMB7,565.5 million, with 99.90% denominated in Renminbi[126] Business Segments - The beverages segment achieved a compound annual growth rate (CAGR) of 12.3% since 2020, contributing significantly to the overall revenue growth[12] - "The King of Tomato" brand doubled its revenue CAGR over the past three years, showing strong market favorability[12] - "Uni Green Tea" and "Haizhiyan" brands achieved high double-digit year-on-year revenue growth, capitalizing on post-pandemic consumer trends[12] - The food business recorded revenue of RMB 9,846.8 million in 2023, focusing on product quality, flavor optimization, and diversified consumption scenarios[26][27] - The instant noodles business generated revenue of RMB 9,594.3 million in 2023, emphasizing product quality, innovation, and catering to personalized consumer needs[28][29] - Beverages business revenue in 2023 reached RMB17,775.5 million, an increase of 8.4% year-over-year[40] - Tea drinks business revenue in 2023 amounted to RMB7,579.5 million, representing a 9.0% growth compared to the previous year[41] - Revenue from the juice business in 2023 reached RMB 3,404.2 million, a 13.3% increase year-over-year, accounting for 19.2% of beverage revenue, a seven-year high[55][58] - Milk tea business revenue in 2023 reached RMB6,305.2 million, a 5.0% increase year-over-year, driven by Uni Assam Milk Tea and the launch of CITEA milk tea[71][72] - Coffee business focused on the "A-Ha" brand strategy in 2023, introducing new flavors like coconut latte to attract the new generation of consumers[76] Brand and Product Performance - "Soup Daren（湯達人）" rice noodles sales increased rapidly, gaining significant consumer recognition[31] - "Soup Daren Genki Music Festival（湯達人元氣音樂節）" achieved record-high on-site attendance and online exposure, significantly boosting brand awareness and reputation[31] - "Uni-President Lao Tan Pickled Cabbage and Beef Noodles（統一老壇酸菜牛肉麵）" revenue gradually recovered due to increased consumer trust and intimacy[32] - "The King of Tomato（茄皇）" brand visual symbol was renewed and upgraded, enhancing brand recognition and reducing cognitive costs[33] - "Kai Xiao Zao（開小灶）" frozen fried rice series won the 2022-2023 Innovative Product Award for the Instant Food Industry in China[37] - "Kai Xiao Zao（開小灶）" products ranked first in multiple categories during the 2023 Double 11 Shopping Festival[37] - "Kai Xiao Zao（開小灶）" launched the "Private Kitchen（私房菜）" gift box in mid-December 2023, targeting the high-end gift market[37] - Uni Green Tea focused on health attributes and value through sugar-free products and marketing campaigns targeting young consumers[42][43] - Uni Ice Tea upgraded its product by adding real lemon juice and targeted Z-generation consumers through Bilibili marketing, aiming to expand brand exposure and influence[46][47] - Uni Plum Green Tea emphasized its unique selling point of "Grade A plums" and sponsored Bilibili's graduation concert to enhance brand awareness in target groups[48][52] - Uni Shuangcui Lemon Tea was upgraded with an innovative concept of "Double Tea Base with 7-minute Extraction" and launched a regional Cantonese-style lemon tea campaign to attract young consumers[49][53] - Classmate Xiaoming leveraged ACG culture and partnered with Bilibili and the Chinese comics IP "Link Click" to target younger student groups[50][51] - The Group's "Haizhiyan" electrolyte drink achieved high double-digit revenue growth in 2023, with a strong compound annual growth rate over the past three years[61][62] - "Uni Orangeate" continued to emphasize its "More Fiber" and "More Vitamin C" image, with a focus on expanding sales points in dining and gift box scenarios[63] - The Group launched a new flavor, "Uni Plum Juice," in 2023, which performed well in the market and became a new growth driver[64] - "Chai Li Won" introduced fresh leaf juice in its green tea category in 2023, enhancing product freshness and delivering a "freshly brewed" taste[56] - Uni Sweet-sour Plum Juice launched in 2023, driving incremental growth with excellent market performance[65] - Uni Crystal Sugar Pear Drink enhanced product quality and packaging in 2023, targeting young consumers with a focus on "Moist" core value[66] - Vitality Awakening 100% fruit (vegetable) juice focused on cultivating 100% juice market in key first-tier cities and expanded online platforms like O2O and groceries delivery services[67][69] - Uni Assam Milk Tea introduced new flavors and packaging formats in 2023, including cans and tetra packs, to capitalize on gift box sales opportunities[73] - CITEA milk tea launched in Q4 2023, targeting young consumers with a "sweet but not greasy, flavourful and aromatic" product using innovative slow-boiling techniques[74][75] - The new flavor of Raw Coconut Latte was well received by the new generation of consumers and has established a market base[79] - ALKAQUA launched a 5L water barrel in December 2023, focusing on e-commerce channels to target the family drinking water market[81][82] - The Group launched four types of flavoured 8-degree sparkling wine under the brand "Uni-Wonder" in 2023, targeting young consumers[84][85] - The premium coffee brand "MANYA" launched CAFÉ Au Lait, combining tea and coffee, exclusively in the Sam's system[87][88] Strategic Initiatives - The Group proposed a final cash dividend of RMB 42.45 cents per share, totaling approximately RMB 1,833.8 million for 2023[15][16] - The Group is focusing on digital transformation to empower all aspects of its business operations[13][14] - The Group plans to deepen market penetration by expanding both offline and online channels, aiming to extend consumption scenarios and get closer to consumers[13][14] - In 2024, the Group will continue to adapt to changing consumer needs by providing safe, high-quality, and innovative products to maintain competitiveness[20][21] - The Group's strategy includes maintaining healthy inventory levels and focusing on freshness control as a fundamental operational policy[13][14] - The Group aims to build long-term competitive barriers through brand power and cultivate future trendy products with a long-term perspective[13][14] - The Group adhered to a value-based marketing strategy, expanding both offline and online channels to meet consumer needs in various scenarios[23] - The Group strengthened its focus on sustainability, implementing measures in areas such as climate change, water resources management, and green production[24] - The Group actively accumulated brand assets and optimized product strengths and product mix, achieving record-high revenue while maintaining sound operation[24] - The Group emphasized the importance of omni-channel expansion in response to rapidly changing market conditions and consumer trends[23] - The Group continued to enhance its organizational coordination and risk management capabilities, maximizing resource utilization efficiency[23] - The Group plans to focus on health, safety, and unique characteristics in innovative products to meet consumer emotional value in 2024[39] - The Group aims to integrate healthy ingredients into national flavors and promote Chinese culinary culture to satisfy personalized, diversified, and healthy consumer needs[39] - The Group will establish strong emotional connections with consumers through product-driven brand concepts to gain emotional resonance[39] - The company plans to expand its young consumer base through low-sugar and sugar-free product lines for Uni Green Tea[44][45] - Uni Ice Tea aims to address product category pain points in 2024 by adding special black tea to enhance flavor and launching a sampling campaign of one million bottles[47] - Uni Plum Green Tea will continue to promote "Grade A plums" in 2024 to further capture consumer attention[52] - The Group plans to expand its presence in family, catering, and O2O channels in 2024 to capture market trends and new opportunities[57] - "Haizhiyan" will focus on the promotion of "Drink Haizhiyan after sweating" in 2024, aiming to strengthen consumer communication and expand electrolyte drink market share[62] - The Group's juice business aims to expand market share in 2024 by launching upgraded product series with better taste and health benefits[70] - The coffee business plans to expand its market presence in 2024 by focusing on ice coffee market penetration and consumer cultivation for coconut latte[78] - The Group will focus on expanding the base of the "A-Ha" brand in 2024, targeting the secondary market of iced coffee and cultivating consumers of Raw Coconut Latte[80] - ALKAQUA will continue to cultivate the Shanghai market in 2024, targeting four highly "involuting" groups and strengthening channel construction[83][85] - The Group explored O2O new e-commerce represented by Meituan Grocery and set up three themed livestreaming rooms on platforms like Douyin Shop and Pinduoduo[90][91] - The Group's business research institute developed new products to facilitate steady revenue growth, focusing on value innovation and securing supply[92][93] - The Group has accumulated 164 authorized patents and 48 pending patents as of December 2023, building competitive barriers[95] - The Group focused on empowering its featured products, particularly those with over 1 billion in sales, to maintain market competitiveness[96] - Uni Assam Milk Tea achieved all-around product quality improvement through front-end management of tea raw material quality, refined control of production process, and sound finished product monitoring standards, with new flavors White Peach Guanyin and Green Grape Jasmine launched in 2023 to meet diversified consumer tastes[97][100] - Uni Green Tea established a monitoring system from source to finished product, completed supplier assessment of over 20 tea processing factories, and launched sugar-free green tea in response to consumer health demands[101] - The Group accumulated 164 licensed patents and 48 patents under applications as of December 2023, continuously building competitive technological barriers[98] - Haizhiyan grasped the electrolyte drink trend, developed a new "isotonic" version, and contributed to national electrolyte drink standards formulation[102][103] - Uni-President Lao Tan Pickled Cabbage and Beef Noodles strengthened source monitoring and fermentation craftsmanship to enhance sour characteristics and meet consumer preferences[104] - The King of Tomato optimized production craftsmanship, launched Tomato Bolognese Instant Pasta, and leveraged Xinjiang factory advantages to ensure stable tomato supply and quality[105][106] - CITEA milk tea was launched in 2023 with Da Hong Pao and Rose flavors, using real milk and original tea leaves for a rich, non-greasy texture[107][108] - Uni Shuangcui Lemon Tea features double extraction of black tea and oolong tea, with Ya Shi Xiang flavor positioning as authentic Cantonese lemon tea[109] - In Love With Tomato 100% NFC tomato juice was launched in January 2024, using juice from about 24 cherry tomatoes per bottle for optimal taste[110][111] - Little Raccoon High Fiber Konjac entered the casual snacks market with a chewy texture, spicy taste, and high dietary fiber content for health benefits[112][113] - The Group launched the "Kai Xiao Zao Private Kitchen" series, targeting the home consumption trend with pre-cooked cuisine frozen at -30°C to maintain quality[116] - In 2023, the Group successfully applied tea roasting and aroma-keeping techniques to sugar-free beverages like "Chai Li Won Raw Green Tea" and "Uni Sugar-Free Green Tea"[117][118] - The Group developed and launched new products such as the "CITEA milk tea" series through collaborative innovation with domestic and overseas R&D centers[117][118] - A full-process digital management system for R&D projects was implemented in 2023, improving efficiency and facilitating knowledge inheritance[115][119] - The Group utilized Alibaba's big data model for consumer research, combining "big data + small samples" to empower product innovation and engage consumers in the R&D process[120] - The Food Safety and Quality Committee, led by the General Manager, oversees the design and optimization of the food safety and quality assurance system[120] - Three lines of defense for food safety were established: qualification review, field assessment, and food safety testing to manage supplier risks[120] Corporate Governance and Shareholding - The Group has 26 subsidiaries accredited with ISO 22000 certification, 1 with FSSC 22000, and 6 with HACCP certification[122] - The Food Safety Testing Centre has passed 173 projects under CNAS accreditation as of 2023[122] - The Group's total number of employees as of 31 December 2023 was 33,539[145] - Total staff costs (including directors' remuneration) for the year were RMB4,474.7 million, compared to RMB4,324.3 million in 2022[149] - The Group did not hold any significant investments with a value of 5% or more of its total assets as of 31 December 2023[144] - The Group had no material contingent liabilities or charges on group assets as of 31 December 2023[144] - The Group did not engage in any material acquisition or disposal of subsidiaries, associates, or joint ventures during the year[144] - The Group has no plans for any material investment or acquisition of capital assets beyond its ordinary business of manufacturing and selling beverages and instant noodles[144] - The Group's financial policy aims to reduce the impact of interest rate and exchange rate fluctuations on its overall financial position[143] - The Group maintained an automated reconciliation system, which significantly improved capital efficiency and accounting treatment effectiveness during the year[143] - The Group's treasury policy avoids high-risk investments, speculative derivatives, and financial products with significant leverage or risks[144] - The Group's remuneration policy rewards employees and directors based on performance, qualifications, demonstrated capabilities, and market comparable information[148] - The Board recommends a final dividend of RMB42.45 cents per share, totaling approximately RMB1,833.8 million[160][161] - The proposed final dividend is subject to shareholder approval at the Annual General Meeting

Investment Rating - The report assigns an "OUTPERFORM" rating to the company with a target price of HK$8.22 [1][4]. Core Insights - The company reported total revenue of RMB 29.23 billion for 2023, a year-on-year increase of 2.54%, with a net profit attributable to shareholders of RMB 1.67 billion, reflecting a significant growth of 36.4% year-on-year [1][8]. - Despite a slight decline in revenue, the company's gross profit margin improved to 30.47%, up by 1.49 percentage points, leading to a gross profit increase of 6.40% [1][8]. - The beverage segment has shown robust growth, achieving revenue of RMB 17.78 billion in 2023, a year-on-year increase of 8.4%, with a compound annual growth rate of 12.3% since 2020 [1][8]. - The food business, however, faced challenges with a revenue decline of 10.56% in 2023, but there are expectations for recovery in 2024 as market conditions improve [4][8]. Summary by Sections Financial Performance - Total revenue for 2023 was RMB 29.23 billion, with main revenue at RMB 28.59 billion and net profit at RMB 1.67 billion [1][8]. - The gross profit margin increased to 30.47%, while the net profit margin rose by 5.83 percentage points [1][8]. - The company declared a dividend of approximately RMB 1.83 billion, resulting in a payout ratio of 109.99% [1][8]. Beverage Business - The beverage segment generated revenue of RMB 17.78 billion in 2023, with a net profit margin of 10.9% [1][2]. - Key products like "Unified Green Tea" and "Tea King" are expected to drive future growth through product line expansion targeting younger consumers [2][4]. Food Business - The food segment reported revenue of RMB 9.85 billion, down 10.56% year-on-year, but with a slight increase in net profit margin to 0.8% [4][8]. - The company is focusing on product innovation and quality to meet changing consumer preferences in the instant noodle market [4][8]. Earnings Forecast - Projected revenues for 2024-2026 are RMB 31.53 billion, RMB 33.97 billion, and RMB 36.28 billion, respectively, with net profits expected to be RMB 1.58 billion, RMB 1.81 billion, and RMB 2.01 billion [4][8].

[Table_MainInfo] 公司研究/食品 证券研究报告 统一企业中国(0220.HK)公司研究报告 2024年03月 08日 [Table_InvestInfo] 盈利能力&分红提升，期待 24 年收入增 投资评级 优于大市 维持 速复苏 股票数据 0[3T月ab0l8e日_收St盘o价ck（InHfKoD]） 5.52 [Table_Summary] 52周股价波动（HKD） 4.30-5.64 投资要点： 总股本（百万股） 4319.33 总市值/流通市值（百万 21207.93 /21207.93 HKD）  事件：2024年3月6日公司披露2023年末期业绩公告，其中实现总营业收 相关研究 入292.25亿元（YOY2.54%），实现主营收入285.91亿元（YOY1.2%）， [《T下a半bl年e_营R收e加p速o，rt盈In利fo能] 力改善，继续看好 实现归母净利润 16.67 亿元（YOY36.4%）。此外公司公告分红约 18.34 亿 未来增长中枢提升》2023.03.13 元（对应股利支付率109.99%）。 《单三季度利润降幅明显收窄，期待后续利润 水平进一步改善回升》2022 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因依賴該 等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：220） 2023年末期業績公告 財務摘要 末期股息 • 建議2023年末期股息每股人民幣42.45分。 統一企業中國控股有限公司（「本公司」）及其附屬公司（統稱「本集團」或「我們」）秉持「誠實勤道、創 新求進」的經營理念，堅持「價值營銷」，聚焦經營，積極構建品牌價值，走穩健經營之道，以「健康 操作」為指導原則，致力於成為一個具備「品格」、「品牌」與「品味」的三品企業。 2023年為疫情後經濟復甦的第一年，民眾的消費習慣與觀念發生轉變，這既是對企業經營的挑 戰，也包含著新的增長機會。本集團在疫情期間展出無比韌性，靠著經驗豐富的經營團隊、穩健 的獲利模式與風險控管機制，不斷優化組織營運結構，妥善因應市場變動所帶來的系統性風險； 自2020年疫情爆發以來，本集團收益年複合增長率達7.9%，其中飲品年收益複合增長率更是達 12.3%。 1 • 收益為人民幣28,5 ...

Interim Report 中期報告 2023 目錄 CONTENTS | | 頁次 | | --- | --- | | | Pages | | 公司資料 | 2 | | Corporate Information | | | 管理層討論及分析 | 4 | | Management Discussion and Analysis | | | 其他資料 | 24 | | Other Information | | | 中期財務資料審閱報告 | 27 | | Report on Review of Interim Financial Information | | | 簡明綜合中期損益表 | 29 | | Condensed Consolidated Interim Income Statement | | | 簡明綜合中期全面收益表 | 30 | | Condensed Consolidated Interim Statement of Comprehensive Income | | | 簡明綜合中期資產負債表 | 31 | | Condensed Consolidated Interim Balance ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該 等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） 220 （股份代號： ） 2023 年中期業績公告 • 14,571.9 4.5% 收益為人民幣 百萬元，上升 • 31.1% 1.0 集團毛利率為 ，上升 個百分點 • 1,793.7 22.9% 未計利息、稅項、折舊及攤銷前盈利為人民幣 百萬元，上升 • 876.6 42.7% 本公司權益持有人期間應佔溢利為人民幣 百萬元，上升 統一企業中國控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然提呈本公司及其附屬公 2023 6 30 6 司（合稱「本集團」或「我們」）截至 年 月 日止 個月（「回顧期」）未經審核簡明綜合中期財務資 料。該簡明綜合中期財務資料未經審核，但已由董事會之審核委員會（「審核委員會」）及本公司獨 2410 立核數師羅兵咸永道會計師事務所按照香港會計師公會頒布之香港審閱準則第 號「由實體的 ...

Financial Performance - Revenue for 2022 reached RMB 28,257.43 million, a 12% increase from RMB 25,230.61 million in 2021[10] - Gross profit for 2022 was RMB 8,187.92 million, slightly down from RMB 8,218.91 million in 2021[10] - Profit before income tax for 2022 was RMB 1,730.83 million, a 19.2% decrease from RMB 2,141.84 million in 2021[10] - Net profit attributable to equity holders for 2022 was RMB 1,222.16 million, down 18.6% from RMB 1,500.72 million in 2021[10] - Total assets as of December 31, 2022, were RMB 21,784.36 million, a slight decrease from RMB 22,065.35 million in 2021[10] - Total liabilities as of December 31, 2022, were RMB 8,603.00 million, up from RMB 8,300.05 million in 2021[10] - Cash and cash equivalents as of December 31, 2022, were RMB 108.52 million, a significant drop from RMB 285.57 million in 2021[10] - Basic earnings per share for 2022 were RMB 28.30 cents, down from RMB 34.74 cents in 2021[10] - Dividends declared for 2022 were RMB 1,466.59 million, down from RMB 1,800.86 million in 2021[10] - Revenue reached a new record of RMB28,257.4 million in 2022, representing a 12.0% increase over the previous year[16] - Revenue for 2022 increased by 12.0% to RMB28,257.4 million compared to RMB25,230.6 million in 2021[139][140] - Food business revenue grew by 15.6% to RMB11,009.4 million, accounting for 39.0% of total revenue[139][140] - Beverage business revenue increased by 11.3% to RMB16,405.4 million, representing 58.1% of total revenue[139][140] - Gross profit decreased by 0.4% to RMB8,187.9 million, with gross profit margin dropping 3.6 percentage points to 29.0% due to rising raw material costs[139][140] - Operating profit declined by 21.5% to RMB1,495.8 million, impacted by higher raw material and transportation costs[142][145] - Profit attributable to equity holders decreased by 18.6% to RMB1,222.2 million[142][145] - Cash at bank and on hand increased to RMB6,654.2 million as of December 31, 2022, up from RMB6,078.3 million in 2021[143][146] - Total financial liabilities surged by 480.8% to RMB869.5 million, primarily due to increased short-term borrowings and lease liabilities[143][146] - Selling and marketing expenses rose by RMB343.8 million to RMB5,886.6 million, driven by higher sales personnel and transportation costs[142][144] - The Group's gearing ratio stood at -43.89% as of December 31, 2022, compared to -43.07% in 2021[147] - Net cash and cash equivalents decreased by RMB177.1 million year-on-year as of December 31, 2022, with net cash inflow from operating activities of RMB1,430.3 million, net cash outflow from investing activities of RMB416.8 million, and net cash outflow from financing activities of RMB1,190.7 million[149][152] - Capital expenditure for the year was RMB545.9 million, up from RMB437.3 million in 2021[149][152] - Financial assets at fair value through profit or loss stood at RMB1,018.5 million as of December 31, 2022, down from RMB1,715.4 million in 2021[150] - Net trade receivables increased by RMB171.4 million to RMB819.9 million due to early preparation for Chinese New Year and increased e-commerce and modern channel sales[155][157] - Inventories balance increased by RMB130.0 million to RMB2,522.5 million, driven by higher bulk raw material costs and early preparation for Chinese New Year sales[156][158] - Trade payables increased by RMB557.0 million to RMB2,675.0 million, reflecting higher purchases of raw materials and finished goods for Chinese New Year production and sales[156][158] - Inventory turnover days decreased by 2 days compared to 2021, indicating improved inventory management efficiency[156][158] Business Growth and Strategy - The Group's revenue has grown at a compound annual growth rate (CAGR) of 8.7% since 2019, with beverages and food segments growing at 8.8% and 9.0% CAGR respectively[15] - The Group focuses on building a flexible supply chain, expanding online and offline channels, and enhancing consumer penetration[17] - The Group emphasizes innovation as a key driver of continuous growth, particularly in new markets[16] - The Group adheres to a "Value Marketing" strategy, aiming to meet diverse consumer needs across different scenarios[27] - The Group plans to deepen its understanding of commodity volatility and risk to improve supply chain agility[25] - The Group aims to build a long-term competitive barrier through brand power and consumer-driven product innovation[17] - The Group is committed to sustainable development, focusing on health, nutrition, and high-quality products to align with changing consumer values[27] - The Group recorded revenue of RMB28,257.4 million for the year ended 31 December 2022, representing a 12.0% increase compared to the previous year[34] - The food business revenue reached RMB11,009.4 million in 2022, a 15.6% increase year-over-year[34] - Instant noodles business revenue grew by 17.9% to RMB10,619.6 million in 2022[34] - "Soup Daren" achieved nearly double-digit revenue growth in 2022, maintaining its position as the No.1 brand in the nourishing soup noodles market[38] - The Group's investment in energy conservation and carbon reduction increased significantly in 2022 compared to 2021[31] - The Group has clear medium and long-term emission reduction goals for wastewater, energy, water, greenhouse gases, and waste[31] - "Soup Daren" launched a new mixian product in Q4 2022 to expand its target consumer base[38] - The Group's operating direction focuses on being "quick, stable, and fresh" to achieve business objectives[29] - New consumption channels such as O2O, community e-commerce, and group purchases have created new marketing opportunities[28] - Consumer demand for healthy, nutritious, and quality products has increased due to lifestyle changes[28] - The revenue of "The King of Tomato (茄皇)" has increased manyfold for two consecutive years[41][42] - "The King of Tomato (茄皇)" launched a new product "Tomato Bolognese Instant Pasta (茄皇意式番茄肉醬風味拌麵)" in 2022, expanding its product line[39] - "Uni-President Lao Tan Pickled Cabbage and Beef Noodles (統一老壇酸菜牛肉麵)" invited 1,000 consumers to visit the factory to witness the fermentation process[44][45] - "Kai Xiao Zao (開小灶)" ranked first in sales volume of instant wonton in 2022[51][52] - "Kai Xiao Zao — Small Wonton in Chicken Soup (開小灶雞湯小餛飩)" won a two-star award from the International Taste Institute in Brussels, Belgium[51][52] - "Imperial Big Meal (滿漢大餐)" utilized an omnimedia matrix including Weibo, Douyin, and Bilibili for brand asset accumulation[49][50] - The Group participated in drafting the group standard for "Technical Specifications for Production Quality Safety Control and Management of Lao Tan Pickled Cabbage"[44][45] - "Teng Jiao (藤嬌)" focused on enhancing the fresh and spicy flavor characteristics, targeting the brand's core appeal of "the feeling of electric shock (觸電的感覺)"[45][46] - The Group emphasized the integration of healthy ingredients and new food technologies into production for 2023[52] - "The King of Tomato (茄皇)" enhanced its brand building through cooperation with talk shows in the second half of 2022[39] - The Group's beverages business achieved annual revenue of RMB16,405.4 million in 2022, representing a year-on-year increase of 11.3%[57] - Revenue from tea drinks amounted to RMB6,956.8 million in 2022, representing a year-on-year increase of 10.9%[58] - "Uni Green Tea" revenue has been growing at a compound rate of high single-digit over the past three years[62] - "Uni Plum Green Tea" recorded a high double-digit growth in revenue in 2022 compared to the previous year, driven by brand repositioning and unique selling points[65] - "Uni Plum Green Tea" revenue has been growing at an exponential compounded annual rate over the past three years[69] - "Uni Ice Tea" achieved a double-digit revenue growth in 2022 compared to the previous year[64] - The Group plans to continue fostering "Uni Green Tea" into a major national brand in 2023[62] - The Group will upgrade "Uni Ice Tea" products in 2023, focusing on real lemons and refreshing aroma to increase consumer purchase frequency[64] - The Group aims to enhance "Uni Plum Green Tea" brand penetration in 2023 by highlighting "Grade A plums" in promotions[69] - The Group actively expanded e-commerce channels such as social e-commerce, community group purchases, B2C, and O2O to meet consumer needs in different scenarios[58] - The juice business revenue in 2022 reached RMB 3,004.5 million, a 35.4% increase year-over-year, contributing 18.3% to the beverage revenue, marking a 6-year high[77] - "Uni Orangeate" achieved a double-digit compound annual growth rate in revenue over the past three years[80] - "Uni Guo Yang Kumquat Lemon Beverage" experienced exponential compounded annual revenue growth over the past three years[81] - "Chai Li Won" collaborated with Wuyishan Dahongpao's intangible cultural heritage heir and Impression Dahongpao to launch the seasonal limited product "Qinggan Dahongpao" in 2022[72] - The company launched the "Cloud Tea Program" DTC platform and live-streaming source tracking in tea plantations to enhance consumer engagement and brand authority[72] - "Haizhiyan" continued to penetrate the sweating scenario by expanding its point-of-sale and reinforcing its core message of rehydration and electrolyte replenishment[83] - The company focused on diversifying consumer scenarios in 2022, achieving rapid growth in household and dining scenarios[76] - In 2023, the company plans to iteratively upgrade products to strengthen health benefits and tap into the sugar-free market to meet diverse consumer needs[76] - "Uni Orangeate" reinforced its dietary fiber benefits through product packaging and diversified media promotion, targeting family consumption with the concept of "Vitamin C-rich household products"[82] - "Uni Guo Yang Kumquat Lemon Beverage" leveraged a popular comic IP for bottle design and immersive scenario marketing to appeal to young consumers[81] - The Group's milk tea business generated revenue of RMB6,005.4 million in 2022, representing a 4.6% increase over the previous year[87][88] - Uni Assam Milk Tea maintained a double-digit compound annual growth rate in revenue over the past five years[89] - The Group focused on cultivating the 100% juice market in key first-tier cities, expanding family scenarios and online platforms such as O2O and groceries delivery services[84] - Uni Tomato Juice leveraged lycopene as a product benefit to create high-quality life scenarios and attract purchases through e-commerce and TV shopping platforms[84] - The A-Ha brand focused on the food and beverage channel to cultivate consumers and expand brand awareness, using its core value of "Carbonated drink with Vitamin C" as the key promotion theme[84] - In 2023, the Group's juice business will continue to invest in restaurant, family, and gift set scenarios, aiming to capitalize on changes in consumption demand and market trends[84] - The coffee business repositioned A-Ha as a "National Coffee Flavored Beverage" and adopted a new brand message, "A-Ha! Getting Started with Vitality!" to target young urbanites[92][93] - The coffee business plans to deepen its focus on the "coffee-flavored beverage" segment in 2023, offering more diverse flavor choices and enhancing brand penetration in key cities[92] - The company's coffee business will focus on the "Coffee Flavored Beverage" sub-segment, expanding product mix to cater to new consumer trends and increasing customer base through interactive marketing campaigns[94] - The "ALKAQUA" brand of mineral water saw increased sales from online and family-size packages, with a focus on large and multi-packaged products on e-commerce platforms, contributing to new growth[98][99] - The "Keep Sweet" bottle can drink series, featuring flavors like "Mango & Pomelo Sweet Soup," enhanced brand scale and regional market visibility through online short videos and other communication methods[100] - The "Red Bean Coconut Milk" winter-exclusive product received positive consumer feedback, targeting the popular cereal drink trend and combining traditional red bean paste with Hainan coconut milk[100] - China's online retail sales reached approximately RMB12 trillion in 2022, representing 27% of the total retail sales of consumer goods, driven by improved consumer satisfaction and demand for convenience[103] - The company explored three new online business models in 2022, including leveraging social traffic, opening flagship stores and live-streaming rooms, and developing the "Uni Happy Planet" shopping application[103] - The "That Street That Lane" brand achieved stable growth with its "Lanzhou Beef Noodles" product and launched "Leshan Spicy Bobo Chicken," which ranked first in Tmall's cold hot pot category and won an innovation award[105] - The company's R&D efforts in 2022 focused on optimizing core products and developing new products aligned with emerging consumer trends, contributing to record-high revenue[107] - Revenue for 2022 reached a new record high, driven by the optimization of featured products and the development of new products aligned with consumer trends[108] - The company was granted 28 patents in 2022, with a cumulative total of 148 patents by December 2022[109][110] - The company launched innovative plant-based beverages, such as "Coconut and Oat Milk Tea" and "Fruit Trio Calamansi Juice," targeting health-conscious consumers[111][112] - "Uni Assam Milk Tea" reduced sugar content while maintaining sweetness, responding to the growing demand for sugar-free beverages[114][115] - The company introduced convenient food products like "That Street That Lane Leshan Spicy Bobo Chicken" and "Kai Xiao Zao" series, leveraging natural ingredients and advanced preservation technologies[114][116] - "Uni Stewed Beef Flavoured Noodles" and "Vine Pepper Beef Noodles" were optimized to enhance freshness and flavor, targeting younger consumers[118][120] - "Uni Ice Tea" and "Uni Green Tea" improved flavor stability and product quality through process optimization and ingredient enhancements[120] - The "Uni More Juice Series" introduced a 1-liter package for the secondary market and a canned series for the catering channel, emphasizing taste stability and affordability[120] - The company focused on differentiating and personalizing tastes through advanced flavouring technology to build competitive barriers[119] - The pandemic accelerated the popularity of instant and prepared foods, with the company leveraging Chinese culinary traditions to meet consumer demand for convenience and authenticity[114][116] - The Group launched the "A-Ha raw coconut flavoured latte" targeting plant-based food demand, using coconut milk and water instead of milk, catering to lactose-intolerant consumers[123] - The "Tomato Bolognese Instant Pasta" was developed to target the fast-growing instant pasta market, featuring sauce made from Xinjiang tomatoes and beef essence[123] - The Group's business research institute worked on over 10 core technology projects in 2022, including the lemon project applied to "Fruit Trio Calamansi Juice" and the beef project applied to "Stewed Beef Flavoured noodles" and "Spicy Beef Flavoured noodles"[124] - The Group promoted domestic production of core ingredients and developed secondary suppliers, ensuring supply safety and establishing technical barriers in tea blending for "Uni Assam Milk Tea"[124] - The Group focused on expanding consumption scenarios, such as developing canned flavours for post-pandemic dining and 300ml or 1.5L+ beverage products for household use[127] - New product development includes affordable sugar-free tea, cereal tea, healthy prepared dishes, and sugar-free versions of classic soft drinks[128] - In 2023, the Group will focus on core technologies like non-fried, sugar-free, and "Three Reduction and Three Kind of Health" (Sugar Reduction, Salt Reduction, Oil Reduction) projects[129] - The Group established a Food Safety and Quality Committee to oversee food safety and quality system design, with members covering key departments like the business research institute and production management[133] - Three lines of defense for food safety include qualification review, field assessment, and food safety testing to manage supplier risks[134] - The Group adheres to three quality controls: raw material acceptance, production process control, and finished product quality control[135] Corporate Governance and Financial Policy - The Group's financial policy aims to minimize impacts of interest rate and exchange rate fluctuations and reduce financial risk exposure[164][166] - The finance department advanced financial intellectualization and implemented daily settlement at key nodes to enhance corporate governance efficiency and reduce costs[165][167] - The Group's total number of employees as of 31 December 2022 was 33,555[171] - Total staff costs (including directors' remuneration) for the year were RMB4,324.3 million (2021: RMB4,030.6 million)[172][174] - The Group recommended a final dividend of RMB33.95 cents per share, totaling approximately RMB1,466.6 million[179][181] - The Group did not hold any significant investments valued at 5% or more of its total assets as of 31 December 2022[168] - The Group had no material contingent liabilities or charges on group assets as of 31 December 2022[168] - The Group did not engage in any material acquisition or disposal