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 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 衛龍美味全球控股有限公司 WEILONG Delicious Global Holdings Ltd （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：9985） 截 至2023年12月31日止年度之 全年業績公告 | --- | --- | --- | |-------|-----------------------------------------------------------------|--------------------------------------| | | | | | | 2023 年全年業績摘要 | | | • | 總收入為人民幣 4,871.7 百 萬 元，同 比 上 升 5.2% ； | | | • | 毛利為人民幣 2, ...

股 票 研 究 [ Table_Main[卫I Tnaf 龙bol]e 美_Ti味tle]（ 9985） [评Tab级le_：Inv est] 增持 当前价格（港元）： 5.11 辣味龙头，推新加速 2024.03.12 海 [ 交Ta易bl数e_M据a rket] 外 訾猛(分析师) 庞瑜泽(分析师) 陈力宇(分析师) 52周内股价区间（港元） 4.81-11.84 当前股本（百万股） 2,351 公 021-38676442 021-38031037 021-38677618 当前市值（百万港元） 12,014 司 zimeng@gtjas.com pangyuze028741@gtjas.com chenliyu@gtjas.com 证书编号 S0880513120002 S0880524010003 S0880522090005 （ [ Table_PicQuote] 中 本报告导读： 52周内股价走势图 新品推出有望带动公司收入增长和结构优化，叠加渠道拓展和供应链强化，预计公司 国 卫龙美味 恒生指数 增长潜力将进一步释放。 香 6% 摘要： 港 -7% [T abl投e_S资um建m议ar：y] ...

智通财经APP获悉，卫龙美味(09985)盘中涨超11%，截至发稿，涨8.88%，报7.11港元，成交额198.26万 港元。 消息面上，龙头企业推出多款新年礼盒备战年货节。其中，卫龙推出了三款新年礼盒，包括萌龙礼系 列、福礼礼盒系列和龙礼礼盒，分别定价56/69/82元，包含辣条、魔芋爽、风吃海带、霸道熊猫、小魔 女魔芋素毛肚和新品脆火火等产品。据了解，"小魔女"魔芋素毛肚在上线10天销售量便连翻6倍，在"双 十一"当天更是销售额破万，销售量环比日常高达400%。 国联证券指出，分品类看，年货节零食礼盒礼包表现亮眼，各品牌纷纷在全渠道推出多样化的产品礼包 组合促进动销。中金此前表示，2H23公司推新成果颇丰。该行预计2023年毛利率保持较高水平，2H23 销售费用率随着新品推广等有所提高。2024年随着新品和新渠道扩张收入增长有望提速，估值有望迎来 提振。 ...

智通财经APP获悉，卫龙美味(09985)涨超5%，截至发稿，涨4.44%，报5.88港元，成交额168.44万港 元。 消息面上，休闲食品行业处于积极备货中，龙头企业推出了多款新年礼盒备战年货节。其中，卫龙推出 了三款新年礼盒，包括萌龙礼系列、福礼礼盒系列和龙礼礼盒，分别定价56/69/82元，包含辣条、魔芋 爽、风吃海带、霸道熊猫、小魔女魔芋素毛肚和新品脆火火等产品。 据了解，"小魔女"魔芋素毛肚在上线10天销售量便连翻6倍，在"双十一"当天更是销售额破万，销售量 环比日常高达400%。中金指出，2H23公司推新成果颇丰。该行预计2023年毛利率保持较高水平，2H23 销售费用率随着新品推广等有所提高。2024年随着新品和新渠道扩张收入增长有望提速，估值有望迎来 提振。 ...

Stock code 股份代號 : 09985.HK (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） 2023 INTERIM REPORT 中期報告 Contents 目錄 2 Corporate Information 公司資料 5 Definitions 釋義 8 Management Discussion and Analysis 管理層討論與分析 36 Directors 董事 37 Corporate Governance and Other Information 企業管治及其他資料 48 Independent Review Report 獨立審閱報告 50 Interim Condensed Consolidated Statement of Profit or Loss 中期簡明合併損益表 51 Interim Condensed Consolidated Statement of Comprehensive Income 中期簡明合併綜合收益表 52 Interim Condense ...

Revenue and Profit Performance - Total revenue for the first half of 2023 was RMB 2,327.3 million, a year-on-year increase of 3.0%[2] - Gross profit for the first half of 2023 was RMB 1,106.2 million, a year-on-year increase of 28.4%[2] - Gross profit margin for the first half of 2023 was 47.5%, an increase of 9.4 percentage points year-on-year[2] - Net profit for the first half of 2023 was RMB 447.1 million, a year-on-year increase of 271.4%[2] - Adjusted net profit for the first half of 2023 was RMB 497.0 million, a year-on-year increase of 17.0%[2] - Basic adjusted earnings per share for the first half of 2023 were RMB 0.22, a year-on-year increase of 3.9%[2] - Operating profit for the first half of 2023 was RMB 561.2 million, compared to an operating loss of RMB 167.0 million in the same period last year[5] - Revenue for the six months ended June 30, 2023, was RMB 2,327,279 thousand, compared to RMB 2,260,529 thousand in the same period in 2022, representing a 2.95% increase[13] - Gross profit for the six months ended June 30, 2023, was RMB 1,106,202 thousand, up 28.4% from RMB 861,548 thousand in the same period in 2022[13] - The company's basic earnings per share for the six months ended June 30, 2023, was RMB 0.19, compared to a loss of RMB 0.13 per share in the same period in 2022[21] - The company's diluted earnings per share for the six months ended June 30, 2023, was RMB 0.19, compared to a loss of RMB 0.13 per share in the same period in 2022[23] - Revenue for the reporting period was RMB 2,327.3 million, a 3.0% increase compared to RMB 2,260.5 million in the same period last year[53] - Gross profit increased by 28.4% to RMB 1,106.2 million, with gross margin rising 9.4 percentage points to 47.5%[53] - The company's profit for the period increased from a loss of RMB 260.8 million in the first half of the previous year to a profit of RMB 447.1 million, primarily due to the increase in gross profit and the elimination of share-based payments related to pre-IPO investments[60] - Adjusted net profit (non-IFRS) increased by 17.0% from RMB 424.9 million in the first half of the previous year to RMB 497.0 million, driven by higher gross profit, with the adjusted net profit margin (non-IFRS) rising from 18.8% to 21.4%[63] Dividend and Shareholder Returns - The company proposed an interim dividend of RMB 0.12 per ordinary share[2] - The company declared a final and special dividend of RMB 564,276 thousand for the six months ended June 30, 2023, compared to no dividend declared in the same period in 2022[24] - The company declared a final dividend of RMB 0.12 per share for the year ended December 31, 2022, totaling RMB 282,138,000, and a special dividend of RMB 0.12 per share, also totaling RMB 282,138,000[25] - An interim dividend of RMB 0.12 per share was declared for the six months ended June 30, 2023, amounting to approximately RMB 282,138,000, representing about 60% of the group's net profit for the period[25][29] - The company declared an interim dividend of RMB 0.12 per share (tax inclusive), totaling approximately RMB 282.1 million, representing 60% of the net profit for the six months ended June 30, 2023[64] - The company declared an interim dividend of RMB 0.12 per share, totaling approximately RMB 282.1 million, payable around October 12, 2023[88] - The company will suspend share transfer registration from September 18 to September 20, 2023, to ensure eligible shareholders receive the interim dividend[89] Financial Position and Assets - Total assets as of June 30, 2023, were RMB 7,247.5 million, an increase from RMB 6,930.3 million as of December 31, 2022[7] - Cash and cash equivalents as of June 30, 2023, were RMB 774.5 million, a decrease from RMB 1,314.5 million as of December 31, 2022[7] - Total liabilities increased to RMB 1,722,070 thousand as of June 30, 2023, up from RMB 1,405,923 thousand as of December 31, 2022[8] - Non-current liabilities rose to RMB 433,523 thousand, compared to RMB 405,677 thousand at the end of 2022[8] - Current liabilities surged to RMB 1,288,547 thousand, a significant increase from RMB 1,000,246 thousand at the end of 2022[8] - Trade and other payables under current liabilities jumped to RMB 1,086,097 thousand, up from RMB 689,732 thousand in December 2022[8] - The company's net asset value remained stable at RMB 5,525,440 thousand as of June 30, 2023, compared to RMB 5,524,412 thousand at the end of 2022[8] - Retained earnings increased to RMB 2,745,318 thousand, up from RMB 2,298,248 thousand at the end of 2022[8] - Cash and cash equivalents, including fixed deposits with initial terms of over three months, increased by 19.5% to RMB 4,706.5 million as of June 30, 2023, compared to RMB 3,939.3 million at the end of the previous year, mainly due to cash inflows from operating activities[65] - Inventory decreased by 27.7% from RMB 599.3 million at the end of the previous year to RMB 433.5 million as of June 30, 2023, with inventory turnover days decreasing from 82 days to 77 days[66] - Trade receivables decreased by 48.0% from RMB 66.4 million at the end of the previous year to RMB 34.5 million as of June 30, 2023, with trade receivables turnover days decreasing from 4.9 days to 3.9 days[67] - Other receivables decreased by 34.2% from RMB 62.4 million at the end of the previous year to RMB 41.0 million as of June 30, 2023, mainly due to a reduction in receivables from local governments[67] - Prepayments decreased by 18.2% from RMB 111.2 million at the end of the previous year to RMB 90.9 million as of June 30, 2023, primarily due to a decrease in deductible VAT input tax[67] - Financial assets measured at fair value through profit or loss decreased by 46.2% from RMB 382.4 million at the end of the previous year to RMB 205.8 million as of June 30, 2023, as the company strategically reduced investments in structured deposit and fund management products due to expected lower returns[68] - Trade payables decreased by 45.8% from RMB 187.3 million at the end of the previous year to RMB 101.4 million as of June 30, 2023, due to reduced payments for raw materials and packaging materials, and decreased purchases from OEM suppliers[69] - Other payables increased by 96.0% from RMB 502.5 million at the end of the previous year to RMB 984.7 million as of June 30, 2023, primarily due to the declaration of dividends totaling RMB 564.3 million at the annual general meeting on June 28, 2023, which were not paid by June 30, 2023[69] - Contract liabilities decreased by 32.6% from RMB 225.3 million at the end of the previous year to RMB 151.7 million as of June 30, 2023, mainly due to increased orders from distributors before the Chinese New Year in mid-January 2023[70] - The capital gearing ratio increased to 3.2% as of June 30, 2023, compared to 2.9% at the end of the previous year[71] - Capital commitments decreased to RMB 40.9 million as of June 30, 2023, from RMB 79.5 million as of December 31, 2022, primarily for the construction of properties, plants, and equipment[75] Segment Performance - The company operates in three reportable segments: seasoned flour products, vegetable products, and bean products & other products[12] - Revenue from seasoning noodle products decreased by 3.9% to RMB 1,288.9 million, accounting for 55.4% of total revenue[35] - Revenue from vegetable products increased by 14.1% to RMB 933.2 million, accounting for 40.1% of total revenue[36] - Revenue from bean products and other products increased by 3.7% to RMB 105.2 million, maintaining a 4.5% share of total revenue[36] - Sales volume of seasoning noodle products decreased by 24.0%, while vegetable products saw a slight decrease of 1.8%[37] - Average selling price per kilogram for seasoning noodle products increased to RMB 20.8 from RMB 16.4[37] - Average selling price per kilogram for vegetable products increased to RMB 34.1 from RMB 29.3[37] Distribution and Sales Channels - The company has a nationwide distribution network in China, collaborating with 1,838 offline distributors as of June 30, 2023[38] - The company's products are sold through distributors to 143 shopping malls, supermarkets, and chain convenience store operators in different countries or regions as of June 30, 2023[38] - Online channel revenue increased by 9.5% to RMB 262.1 million in the first half of 2023, with online direct sales growing by 36.1% to RMB 165.4 million[41] - Offline channel revenue slightly increased by 2.2% to RMB 2,065.2 million in the first half of 2023, despite a decline in foot traffic in traditional and supermarket channels[41] - Revenue from overseas markets grew significantly, contributing RMB 45.0 million (2.2% of total offline revenue) in the first half of 2023, up from RMB 25.1 million (1.2%) in the same period last year[42] Production and R&D - The company has 110 patents related to production processes, such as material supply, puffing, and cutting, as of June 30, 2023[43] - The company has a 17-member team dedicated to the development of automated production equipment and systems, with most automation equipment developed internally[43] - The company collaborates with OEM suppliers to produce lower-volume products, aiming to maximize production efficiency and expand its product portfolio[43] - The company has five factories in Henan Province, with the Linying Xinglin Factory partially operational[44] - Total design capacity for 2023 is 168,302.9 tons, with an actual production of 83,919.8 tons and a capacity utilization rate of 49.9%[45] - The Linying Xinglin Factory has the highest capacity utilization rate at 73.9% among all factories[46] - Capacity utilization rates decreased compared to the previous year due to reduced foot traffic in traditional offline and supermarket channels[47] - The company has established a Quality Management Center to oversee food safety and quality control across the entire production chain[48] - The company employs a modular R&D model, focusing on food technology, industrial production processes, and packaging freshness preservation[49] - The company has two applied R&D centers in Henan and Shanghai, with a 61-member professional research team, 63.9% of whom hold master's degrees[50] Expenses and Costs - Employee benefits expenses increased to RMB 476,513 thousand in 2023, up 20.1% from RMB 396,798 thousand in 2022[19] - Promotion and advertising expenses more than doubled to RMB 89,884 thousand in 2023, compared to RMB 36,929 thousand in 2022[19] - The company's income tax expense increased to RMB 200,499 thousand in 2023, up 70.6% from RMB 117,517 thousand in 2022[19] - Raw material consumption decreased to RMB 897,508 thousand in 2023, down 19.6% from RMB 1,116,852 thousand in 2022[19] - Distribution and sales expenses increased by 36.3% to RMB 367.2 million, accounting for 15.8% of total revenue, up 3.9 percentage points[54] - Advertising and promotion expenses surged by 145.7% to RMB 89.8 million due to increased online advertising and influencer marketing activities[54] - Employee benefits expenses rose to RMB 165.1 million, driven by the expansion of the sales team[54] - Management expenses remained stable at RMB 219.2 million, with a slight decrease in the expense ratio to 9.4% of total revenue[55] - Other income net decreased by 57.5% to RMB 25.5 million, primarily due to reduced government subsidies[56] - Net financing income increased by 263.9% to RMB 86.4 million, mainly due to higher bank interest income[58] - Income tax expenses rose by 70.6% to RMB 200.5 million, reflecting higher taxable income[59] Corporate Governance and Compliance - The company's financial statements are prepared in accordance with International Accounting Standard 34 (Interim Financial Reporting)[10] - The company adopted new and revised International Financial Reporting Standards (IFRS) effective January 1, 2023, with no material impact on financial performance[11] - The company has no significant contingent liabilities as of June 30, 2023[74] - The company has adopted and complied with the Corporate Governance Code as set out in Appendix 14 of the Listing Rules since January 1, 2023[94] - The company's interim report for the six months ended June 30, 2023, will be published on the Hong Kong Stock Exchange and the company's website[96] - The company's audit committee reviewed the unaudited condensed consolidated interim results for the six months ended June 30, 2023, confirming compliance with applicable accounting principles[93] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the reporting period[92] ESG and Sustainability - The company emphasizes sustainable development and corporate social responsibility, integrating ESG principles into daily operations and strategic planning[90] - The company has established a three-level food safety management process and implemented a traceability system to ensure product safety and quality[91] - The company collaborates with academic institutions to innovate production processes, improve food ingredient utilization, and reduce waste emissions[91] - The company has set long-term environmental management goals, including carbon reduction, waste reduction, and energy efficiency improvement[91] - The company's 2022 ESG report was published on April 27, 2023, following the guidelines of Appendix 27 of the Listing Rules[90] - The company has strengthened its governance structure and risk control measures to enhance corporate governance standards[91] Human Resources and Talent Development - The company has 5,712 employees as of June 30, 2023, with total employee benefits (including director remuneration) amounting to RMB 476.5 million[85] - The company has introduced a human resource management system to enhance organizational efficiency and business synergy[86] - The company has established a comprehensive talent development system, focusing on basic, professional, and advanced training to improve employee capabilities[87] - The company has approved a restricted share unit plan effective from January 1, 2021, with a 10-year validity period to incentivize key employees[87] Market and Industry Outlook - China's GDP grew by 5.5% year-on-year in the first half of 2023, with the leisure food market expected to reach RMB 12,378 billion by 2027[30] - The company is exploring a business model suitable for snack retail stores to strengthen its national sales and distribution network[31] IPO Proceeds Utilization - As of June 30, 2023, the company has utilized approximately HKD 191.4 million (21.2%) of the net proceeds from the IPO, with the remaining unused proceeds amounting to HKD 711.9 million[81] - The company has utilized HKD 191.4 million out of the total HKD 903.3 million raised from the IPO, with HKD 711.9 million remaining unused[82] - The company plans to fully utilize the IPO proceeds ahead of the originally disclosed schedule due to a reassessment of business execution plans[83] Future Plans and Strategies - The company plans to strengthen brand building, focus on young consumers, and enhance product quality and competitiveness[79] - The company will continue to expand its distribution network, improve terminal store coverage, and strengthen channel management capabilities[80] - The company will enhance production and R&D capabilities, improve organizational efficiency, and strengthen digitalization to improve overall operational efficiency and consumer experience[80]

Consumer and Market Positioning - The company's main consumer group is young people aged 35 and below, and it has been awarded the 2022 GEN-Z's Favorite Brands "Inspiration and Vitality Brand" and the 2022 Global Innovativeness Review "Annual Consumer Brand" by TMT Post[4] - The company has an omni-channel sales and distribution network that includes supermarkets, chained convenience stores, and e-commerce channels, effectively reaching young consumers[4] - The company's product portfolio includes traditional Latiao (辣條) snacks, Konjac Shuang (魔芋爽), Fengchi Kelp (風吃海帶), and 78° Braised Egg (78°滷蛋), among others[3] - The company adheres to a product development philosophy of "maximizing the intrinsic value of nature with an industrialized approach," continuously upgrading existing products and launching new ones[4] - The company launched new nitrogen preservation technology and introduced sharing packs suitable for family and party scenarios in 2022[38] - Two product categories each generated over RMB1 billion in annual retail sales value in 2022, with four products each exceeding RMB0.5 billion[52] - China's snack food market size was RMB825.1 billion in 2021, with a CAGR of 6.1% from 2016 to 2021, projected to grow at 6.8% CAGR to RMB1,147.2 billion by 2026[47] - China's spicy snack food market is expected to grow at a CAGR of 9.6% from 2021 to 2026, reaching RMB273.7 billion by 2026[48] - The Group aims to enhance product core competency by expanding product categories and improving quality, and to increase user engagement through entertaining brand marketing and online content marketing[126][129] Financial Performance - Revenue for 2022 was RMB 4,632.2 million, showing a slight decrease from RMB 4,800.2 million in 2021[26] - Gross profit for 2022 increased to RMB 1,959.6 million, up from RMB 1,793.0 million in 2021[26] - Profit for the year in 2022 was RMB 151.3 million, a significant drop from RMB 826.7 million in 2021[26] - Adjusted net profit for 2022 was RMB 913.1 million, slightly higher than RMB 907.8 million in 2021[26] - Total assets as of December 31, 2022, were RMB 6,930.3 million, up from RMB 5,190.6 million in 2021[27] - Net assets increased to RMB 5,524.4 million in 2022, compared to RMB 3,669.9 million in 2021[27] - Working capital rose to RMB 2,557.0 million in 2022, up from RMB 1,730.8 million in 2021[27] - Current assets grew to RMB 3,557.2 million in 2022, compared to RMB 2,986.3 million in 2021[27] - Non-current assets increased to RMB 3,373.1 million in 2022, up from RMB 2,204.3 million in 2021[27] - Total liabilities decreased to RMB 1,405.9 million in 2022, down from RMB 1,520.7 million in 2021[27] - The company's gross margin increased to 42.3% in 2022, up by 4.9 percentage points from 37.4% in 2021[34] - Adjusted net profit for 2022 was RMB 913.1 million, a slight increase of 0.6% compared to the previous year[34] - Inventory turnover days increased to 82 days in 2022, up by 12 days from 70 days in 2021[29] - Trade receivables turnover days rose to 4.9 days in 2022, an increase of 1.2 days from 3.7 days in 2021[29] - The company's current ratio improved to 3.56 in 2022, up from 2.38 in 2021[29] - Gearing ratio decreased significantly to 2.9% in 2022, down by 9.6 percentage points from 12.5% in 2021[29] - The company's overall revenue for 2022 was RMB 4,632.2 million, a slight decrease of 3.5% compared to the previous year[34] - Total revenue for 2022 reached RMB4,632.2 million, a slight decrease of 3.5% compared to RMB4,800.2 million in 2021[51] - Gross profit increased by 9.3% from RMB1,793.0 million in 2021 to RMB1,959.6 million in 2022, with gross profit margin rising from 37.4% to 42.3%[51] - Net profit decreased by 81.7% from RMB826.7 million in 2021 to RMB151.3 million in 2022, while adjusted net profit increased by 0.6% to RMB913.1 million[51] - Adjusted net profit margin improved from 18.9% in 2021 to 19.7% in 2022[51] - Revenue from seasoned flour products decreased by 6.8% from RMB2,918.0 million in 2021 to RMB2,718.6 million in 2022, primarily due to COVID-19 impacts and product upgrades[56][57] - Revenue from vegetable products increased by 1.8% from RMB1,664.1 million in 2021 to RMB1,693.3 million in 2022, driven by increased market demand and expanded production capacity[56][57] - Sales volume of seasoned flour products decreased from 193,598.6 tons in 2021 to 150,557.5 tons in 2022, while the average selling price increased from RMB15.1/kg to RMB18.1/kg[59][60] - Sales volume of vegetable products decreased from 60,699.3 tons in 2021 to 54,523.5 tons in 2022, with the average selling price rising from RMB27.4/kg to RMB31.1/kg[59][60] - Revenue from offline channels decreased by 2.4% from RMB4,246.4 million in 2021 to RMB4,145.9 million in 2022, contributing 89.5% of total revenue[64][65] - Revenue from online channels decreased by 12.2% from RMB553.8 million in 2021 to RMB486.3 million in 2022, with online direct sales slightly decreasing by 0.8% and online distribution decreasing by 21.7%[64][65] - Overseas revenue increased significantly from RMB19.8 million in 2021 to RMB65.5 million in 2022, reflecting initial penetration into overseas markets[67][68] - The company's revenue decreased by 3.5% from RMB 4,800.2 million in 2021 to RMB 4,632.2 million in 2022, mainly due to COVID-19 impacts and temporary sales volume effects from product upgrades[86] - Gross profit increased by RMB 166.6 million to RMB 1,959.6 million, with gross profit margin rising from 37.4% to 42.3% due to higher average selling prices[87] - Distribution and selling expenses increased by 21.6% to RMB 633.3 million, driven by higher promotion and advertising expenses (up to RMB 139.3 million) and employee benefit expenses (up to RMB 248.7 million)[88][89] - Administrative expenses increased by 34.1% to RMB 481.7 million, mainly due to higher employee benefit expenses and depreciation and amortization[90] - Other net income decreased to RMB 107.6 million from RMB 152.7 million, primarily due to a reduction in government subsidies[90] - The Group recorded other losses of RMB 597.7 million, compared to other gains of RMB 11.7 million in the previous year, mainly due to share-based payments related to Pre-IPO investments[90] - Net finance income increased significantly to RMB 57.7 million from RMB 19.2 million, driven by higher bank interest income[90] - Profit for the year decreased to RMB 151.3 million from RMB 826.7 million, primarily due to share-based payments related to Pre-IPO investments, partially offset by higher gross profit[92][94] - Adjusted net profit (Non-IFRS measure) for the year was RMB 913.1 million, adjusted for share-based payments and listing expenses[96][98] - Adjusted net profit (Non-IFRS measure) increased by 0.6% from RMB907.8 million to RMB913.1 million, with adjusted net profit margin rising from 18.9% to 19.7% due to higher average selling prices[100] - The company proposed a final dividend of RMB0.12 per share and a special dividend of RMB0.12 per share, each totaling approximately RMB273.9 million, representing 30% of the adjusted net profit for 2022[101][105] - Cash and cash equivalents, including term deposits and restricted cash, increased by 77.8% to RMB3,939.3 million, driven by IPO proceeds and operating cash flow[103][105] - Borrowings decreased from RMB460.1 million to RMB161.3 million, primarily secured bank loans for plant construction and operational needs[103][105] - Inventories decreased by 0.8% to RMB599.3 million, while inventory turnover days increased from 70 to 82 days due to higher finished goods reserves before Chinese New Year[104][106] - Trade receivables increased from RMB56.1 million to RMB66.4 million, with turnover days rising from 3.7 days to 4.9 days[107] - Other receivables increased from RMB13.8 million to RMB62.4 million, primarily due to higher receivables from local government[107] - Prepayments decreased from RMB249.1 million to RMB111.2 million, mainly due to a reduction in input VAT recoverable[107] - Financial assets at fair value through profit or loss decreased by 52.3% from RMB802.1 million to RMB382.4 million, reflecting reduced investment in wealth management products[107] - Trade payables decreased by 5.4% from RMB197.9 million to RMB187.3 million, with turnover days increasing from 21 days to 26 days[107] - Other payables increased by 26.9% from RMB396.0 million to RMB502.5 million, driven by higher salary and welfare payables and deposits from distributors[107] - Contract liabilities increased by 24.7% from RMB180.6 million to RMB225.3 million, attributed to higher distributor orders ahead of the Chinese New Year[107] - Gearing ratio decreased from 12.5% to 2.9%, reflecting lower interest-bearing borrowings relative to equity[107] - Capital commitments for property, plant, and equipment decreased from RMB141.7 million to RMB79.5 million[111] - Pledged land use rights increased from RMB68.7 million to RMB93.8 million[112] - Total number of employees at the end of 2022 was 6,307, with total employee benefits (including director remuneration) amounting to RMB 853.0 million[123] - The Group proposed a Final Dividend of RMB 0.12 per share and a Special Dividend of RMB 0.12 per share for the year ended December 31, 2022, totaling approximately RMB 273.9 million each[130] Production and Operations - The company has established an industry-leading production system and a strict quality assurance system to ensure product quality[4] - The company's ERP system helps manage business operations and automates back-office functions related to technology, service, and human resources[7] - The company's FSSC 22000 certification ensures food safety management through ISO 22000, sector-specific Pre-Requisite Programs, and additional requirements[8] - The company's HACCP system identifies and evaluates production points to set up measures and control hazards, ensuring product safety[8] - The company expanded its overseas distribution network and strengthened its sales team in 2022[39] - The company actively promoted supply chain upgrading, capacity expansion, and digital upgrading in 2022[39] - The company collaborated with 1,847 offline distributors and 143 national/regional operators for hypermarkets, supermarkets, and convenience stores as of December 31, 2022[61][62] - The company established a presence on major e-commerce platforms and expanded its online business, supported by a dedicated e-commerce team analyzing user and sales data[63] - The company has 127 patents related to production processes such as material supply, puffing, and cutting as of December 31, 2022[69][70] - The company operates five plants in Henan, with one under construction (Luohe Xinglin Plant) and part of its production lines already operational[71][72] - Designed production capacity for seasoned flour products decreased from 261,308.3 tons in 2021 to 242,422.3 tons in 2022, with utilization rates dropping from 68.8% to 57.1%[73] - Vegetable products' designed production capacity increased from 79,992.0 tons in 2021 to 84,392.0 tons in 2022, but utilization rates decreased from 75.8% to 64.4%[73] - Total designed production capacity decreased from 346,610.3 tons in 2021 to 330,071.3 tons in 2022, with utilization rates dropping from 70.7% to 59.2%[73] - The company's designed production capacity for seasoned flour products decreased in 2022, primarily due to equipment upgrades and production line adjustments, while vegetable products capacity increased due to new production lines at Xinglin Plant[74] - The total designed production capacity across all plants decreased from 346,610.3 tons in 2021 to 330,071.3 tons in 2022, with a utilization rate drop from 70.7% to 59.2%[75] - The company's Luohe Xinglin Plant achieved a high utilization rate of 90.1% in 2022, while other plants experienced decreased utilization rates due to production line shifts and product adjustments[75] - The company's capacity adjustments in 2022 were influenced by shifting production lines to the more efficient Xinglin Plant, product specification changes, and structural product adjustments[76] - The company's digital transformation strategy includes implementing various IT systems such as ERP, sales management, and Industrial Internet of Things to optimize operations[83] - The company's food safety and quality control system covers the entire production process, with a dedicated quality management center overseeing all aspects of production[77] - The company's R&D model integrates different teams across food technology, production techniques, and packaging technology to improve product development success rates[79] - The company has a professional R&D team of 75 employees, with approximately 62.7% holding postgraduate degrees, and operates two application R&D centers in Henan and Shanghai[81] - The company established a long-term cooperation with Jiangnan University, jointly establishing a food science and technology laboratory to strengthen R&D capabilities[81] Corporate Governance and Board Structure - The company was listed on the Main Board of the Hong Kong Stock Exchange (stock code: 9985.HK) on December 15, 2022, and was selected as a constituent stock of the Hang Seng Composite Index, the Hang Seng Composite Mid-Cap Index, and the Hang Seng Consumer Price Index by Hang Seng Indexes Company Limited on February 24, 2023, effective from March 13, 2023[5] - The company's latest practicable date for the annual report is April 20, 2023[9] - The company was listed on the Hong Kong Stock Exchange Main Board on December 15, 2022, marking a major milestone[41] - The Board of the Company comprises nine Directors, including six executive Directors and three independent non-executive Directors, ensuring a balance of skills and experience for effective leadership[143] - The Company has complied with the requirement that at least one-third of the Board members must be independent non-executive directors, with each confirming their independence[144] - The Board diversity policy includes selecting candidates based on gender, age, cultural and educational background, industry experience, and professional qualifications, with two female members accounting for 22.22% of the total Directors[149] - The roles of Chairman and Chief Executive Officer are separated and held by different individuals to ensure a balance of power and authority[148] - The Company has adopted the Model Code as the code of conduct for Directors to buy and sell the Company's securities, with all Directors confirming compliance from the Listing Date to December 31, 2022[142] - The Board is responsible for formulating the Company's long-term and short-term strategic direction, including development strategy, major investment, acquisition, and disposal of significant assets[138] - Management provides monthly management accounts and updates to the Board, including detailed data on the Company's performance, financial position, and prospects[138] - The Company has made appropriate insurance arrangements for any legal proceedings against its Directors[147] - The Board is required to review periodically the contribution of the Directors in discharging their responsibilities to the Company and whether they have devoted sufficient time to their duties[143] - The Company has adopted good governance and disclosure practices, continuously optimizing and improving these practices to establish a corporate culture with high integrity[137] - The proportion of male and female employees (including executive Directors and senior management) as of December 31, 2022, was 42.02% and 57.98%, respectively, achieving gender diversity[151][154] - The Board includes two female members, accounting for 22.22% of the total Board members, meeting the gender diversity requirements of the Listing Rules[153] - The Board has three committees: Audit Committee, Nomination Committee, and Remuneration Committee, each with its own terms of reference and reporting regularly to the Board[162] - The Company held one Board meeting and one general meeting for the year ended December 31, 2022, and will comply with holding at least four Board meetings annually starting from January 1, 2023[163] - The Board reviewed and monitored the Company's compliance with legal and regulatory requirements, as well as the Corporate Governance Code, during the year[155][157] - The Company arranged training for all Directors, including updates on the latest developments in the Listing Rules and other regulatory requirements, to enhance corporate governance awareness[158][159] - The Board adopted a policy on seeking independent professional advice by Directors on March 23, 2023, and will review its implementation annually[158] - The Board is responsible for overseeing the Company's business

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 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 衛龍美味全球控股有限公司 WEILONG Delicious Global Holdings Ltd （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：9985） 截 至2022年12月31日止年度之 全年業績公告 | --- | --- | --- | |-------|-----------------------------------------------------------------|-------------------------------------------| | | | | | | 2022 年全年業績摘要 | | | • | 總收入為人民幣 4,632.2 百 萬 元，同 比 下 降 3.5% ； | | | • | 毛利為人 ...