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
统一企业中国(00220) - 2022 - 年度财报