Core Viewpoint - Uni-President China reported a decline in stock price exceeding 6% following the release of its Q3 operational results, despite a year-on-year increase in net profit for the first three quarters [1] Financial Performance - For the first three quarters, the net profit reached 2.01 billion HKD, representing a year-on-year growth of 23.1% [1] - The net profit for Q3 alone was 730 million HKD, showing an 8.4% year-on-year increase [1] Revenue Analysis - According to Huatai Securities, the overall revenue for Q3 remained flat year-on-year, with the beverage segment experiencing a low single-digit decline due to price wars on delivery platforms and industry competition [1] - The food segment saw a mid-to-low single-digit year-on-year revenue growth in Q3 [1] Profitability Metrics - The gross profit margin improved year-on-year, while the expense ratio decreased, indicating a stable increase in profitability [1]

Core Viewpoint - Uni-President China (00220) experienced a decline of over 6%, with a current price of HKD 8.38 and a trading volume of HKD 34.74 million [1] Financial Performance - For the first three quarters, the net profit reached HKD 2.01 billion, representing a year-on-year increase of 23.1% [1] - The net profit for the third quarter alone was HKD 730 million, showing a year-on-year growth of 8.4% [1] Revenue Analysis - According to Huatai Securities, the overall revenue for Q3 2025 remained flat year-on-year [1] - The beverage segment saw a low single-digit decline in revenue for Q3 2025, primarily due to price wars on delivery platforms and industry competition [1] - The food segment experienced a low single-digit growth in revenue for Q3 2025 [1] Profitability Metrics - The gross profit margin improved year-on-year, while the expense ratio decreased, indicating a stable increase in profitability [1]

Core Viewpoint - Uni-President Enterprises China reported its unaudited net profit for the first three quarters of 2025, indicating strong financial performance across its subsidiaries in the region [1] Financial Performance Summary - Uni-President Enterprises China: unaudited net profit of 2.013 billion yuan for the first three quarters of 2025 [1] - Uni-President Asia Holdings: unaudited net profit of 2.031 billion yuan for the same period [1] - Uni-President Hong Kong Holdings: unaudited net profit of 2.030 billion yuan for the first three quarters of 2025 [1] - Uni-President China Investment: unaudited net profit of 2.086 billion yuan for the first three quarters of 2025 [1]

北京商报讯（记者 孔文燮）11月6日，统一企业中国控股有限公司披露的公告显示，截至2025年9月30 日止的9个月内，本公司及其某些子公司的未经审计税后利润（损失）约为20.13亿元。此外，前三季 度，统一亚洲控股的税后利润约为20.31亿元，统一香港控股有限公司税后利润约为20.30亿元，统一中 国投资税后利润约为20.86亿元。 ...

內幕消息－ 未經審核財務資料 本公告乃根據證券及期貨條例第XIVA部內幕消息條文及上市規則第13.09(2)條的規定作出。 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） 根據台灣的適用法律和法規（包括台灣證券交易所的規定），統一企業作為本公司的最終控股股 東，被要求就其通過其子公司的投資情況向台灣市場透露某些信息。本公司已由統一企業告知其 擬透露的信息（「相關資料」）包括截至2025年9月30日止9個月內本公司及其某些子公司的未經審計 稅後利潤（損失）。本公司已由統一企業進一步告知相關資料將由統一企業在2025年11月6日或前 後披露。本公司按統一企業將披露之相關資料載述如下： | | 截至 | | --- | --- | | | 2025年9月30日 | | | 止9個月內 | | | 被投資企業的 | | | 未經審計 | | 公司名稱 | 稅後利潤（損失） | | | （以千計算） | ...

Group 1: Core Insights - The report emphasizes a turning point in supply and demand equilibrium, particularly in the liquor industry, with a focus on the accelerated clearance of inventory in the baijiu sector [3][15][21] - The report suggests that the liquor industry is transitioning from a "U-shaped adjustment" to a "V-shaped adjustment," indicating a potential for recovery as market pessimism is already reflected in stock prices [15][25] - The report highlights the resilience of consumer staples, particularly in the beverage and snack sectors, which are expected to show strong growth despite the challenges faced by the liquor industry [3][12] Group 2: Baijiu Industry Analysis - The baijiu sector is experiencing a significant adjustment, with sales and inventory levels rapidly clearing, particularly in the high-end and mid-range segments [3][15][21] - The report notes that the current adjustment cycle has a longer duration compared to previous cycles, with a single-quarter decline exceeding previous lows, indicating a deeper market correction [15][25] - Key companies to watch in the baijiu sector include Shanxi Fenjiu, Gujing Gongjiu, and Moutai, with a focus on both growth and stable performers [3][21][28] Group 3: Beer and Beverage Sector Insights - The beer industry is characterized by stable pricing and sales, with a recommendation to focus on regional leaders that have competitive advantages [3][41] - The beverage sector is noted for its structural growth, with leading companies like Dongpeng Beverage and Nongfu Spring expected to perform well [3][41] - The report indicates that the beer industry's profitability is improving due to cost advantages and a stable competitive landscape, despite facing demand pressures [41][42] Group 4: Consumer Goods and Snacks - The consumer goods sector is showing signs of recovery, with food raw materials and health products still in a growth phase, indicating high elasticity in certain categories [3][12] - The snack industry is highlighted for its innovation and growth potential, with companies like Three Squirrels and Wei Long expected to drive future growth [3][12] - The report suggests that the overall consumer goods market is stabilizing, with a focus on companies that demonstrate strong innovation and channel expansion capabilities [3][12]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 統一企業中國控股有限公司 呈交日期: 2025年11月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00220 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | 本月 ...

Group 1 - Southbound funds increased their holdings in Uni-President China (00220.HK) by 1.102 million shares on October 27, 2025, marking a 0.31% change [1][2] - Over the past five trading days, southbound funds have cumulatively increased their holdings by 11.059 million shares [1] - In the last twenty trading days, the total net increase in holdings by southbound funds reached 47.7338 million shares [1] Group 2 - As of now, southbound funds hold a total of 352 million shares of Uni-President China, accounting for 8.14% of the company's issued ordinary shares [1] - The company operates primarily in the domestic market and is engaged in the production and sale of beverages and food products [2] - Uni-President China has four main business segments: food, beverages, other products, and an undistributed segment [2]

Core Viewpoint - *ST Jiaotou (002200.SZ) reported a significant decline in revenue and net profit for the first three quarters of 2025, indicating financial challenges ahead [1] Financial Performance - The company achieved an operating revenue of 218 million yuan, representing a year-on-year decrease of 29.18% [1] - The net profit attributable to shareholders was -69.036 million yuan, indicating a loss [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -42.4137 million yuan [1] - The basic earnings per share were -0.3749 yuan [1]

Core Insights - The company, Uni-President China Holdings Ltd., has shown continuous improvement in profitability and maintains a high dividend policy, with a projected revenue of 30.33 billion yuan in 2024, a year-on-year increase of 6.1%, and a net profit of 1.849 billion yuan, up 10.9% year-on-year [1][2] Group 1: Financial Performance - The company achieved a revenue of 30.33 billion yuan in 2024, reflecting a 6.1% year-on-year growth [1] - The net profit attributable to shareholders is projected to be 1.849 billion yuan in 2024, representing a 10.9% increase year-on-year [1] - The company has a dividend yield of 5.44% as of October 20, 2025, indicating a strong shareholder return policy [1] Group 2: Market Position and Trends - The soft drink industry in China is expected to grow to 691.42 billion yuan in 2024, with a projected CAGR of 5.11% from 2024 to 2029 [1] - Uni-President maintains a leading position in segments such as sugar tea and ready-to-drink milk tea [1] - The instant noodle market is valued at over 100 billion yuan, with a clear trend towards premiumization and health upgrades [1] Group 3: Product Innovation and Channel Strategy - The company is actively promoting sugar-free tea products and has upgraded its classic product, Hai Zhi Yan, to an electrolyte drink for rapid growth [2] - The classic product, Lao Tan Sauerkraut Noodles, continues to grow steadily, while the brand Qie Huang targets the mid-range market with a focus on tomato flavor [2] - The company is enhancing its sales system efficiency and establishing deep collaborations with high-end membership stores and snack wholesale systems [2] Group 4: Future Projections - Revenue projections for 2025, 2026, and 2027 are 32.49 billion yuan, 34.41 billion yuan, and 36.26 billion yuan, respectively, with year-on-year growth rates of 7.11%, 5.92%, and 5.37% [3] - Expected net profits for 2025, 2026, and 2027 are 2.264 billion yuan, 2.521 billion yuan, and 2.749 billion yuan, with growth rates of 22.42%, 11.34%, and 9.05% [3]