蒙牛乳业(02319) - 2023 - 年度业绩

Financial Performance - The group achieved a revenue growth of 6.5% to RMB 98.624 billion in 2023[2] - Operating profit increased by 13.8% year-on-year to RMB 6.171 billion, with an operating profit margin improvement of 0.4 percentage points to 6.3%[2] - The net profit for the year was RMB 4.887 billion, a decrease from RMB 5.185 billion in the previous year[6] - Basic earnings per share decreased to RMB 1.220 from RMB 1.342 year-on-year[5] - The total comprehensive income for the year was RMB 4.755 billion, compared to RMB 4.307 billion in the previous year[6] - The adjusted profit before tax for the group was RMB 6,303,713, with a net profit of RMB 4,886,975 after tax expenses of RMB 1,425,212[17] - The pre-tax profit for the current year is RMB 6,312,187 thousand, down from RMB 6,502,353 thousand in the previous year, reflecting a decrease of 2.9%[29] - Net profit attributable to equity shareholders decreased by 9.3% to RMB 4.8092 billion, with basic earnings per share of RMB 1.220, down 9.1% year-on-year[63] Market Position and Share - The group maintained its leading market share in low-temperature yogurt for 19 consecutive years, while liquid milk market share continued to expand[2] - The liquid milk segment generated revenue of RMB 82,071,069, accounting for the largest share of total revenue[17] - The liquid milk business generated revenue of RMB 94,335,586 thousand in 2023, up from RMB 87,997,985 thousand in 2022, indicating a growth of about 7.5%[22] - The low-temperature business achieved continuous growth, maintaining the number one market share for nineteen consecutive years, with probiotic beverage market share also showing an upward trend[43] - The fresh milk business achieved significant growth, outperforming the industry with a continuous profit for three years, driven by the high-end brand "Daily Fresh" leading the premium fresh milk market share[45] - The basic fresh milk segment maintained the number one market share for three consecutive years, with the launch of the "Daily Bone Strength" high-calcium milk and "Nourishing Beauty" iron-zinc milk targeting the aging population[46] Product Development and Innovation - The company launched China's first liquid protein nutritional supplement and became the first Chinese dairy company to independently develop human milk oligosaccharides (HMO)[3] - The group established the world's first fully digitalized dairy factory and launched the global first large language model in the nutrition and health field, MENGNIU.GPT[3] - The company is focusing on innovation in product categories, with new product growth rates significantly increasing and improved profit structures[44] - The infant formula segment focused on the "Ruibuen" brand, launching the world's first infant formula with MLCT structure fat, enhancing product offerings under the new national standards[47] - Key product launches include A2β-casein milk and lactose-free milk, targeting specific consumer needs[68] - The health nutrition segment launched tailored products for the elderly, focusing on whey protein and essential minerals, addressing the growing demand for adult milk powder[48] Financial Management and Investments - The total amount of share repurchase during the year was HKD 795.6 million, with a proposed final dividend of RMB 0.489 per share, totaling RMB 1.924 billion, an increase of 21.0% year-on-year[2] - Total capital expenditure for the year was RMB 6,277,598 thousand, compared to RMB 4,855,867 thousand in the previous year, reflecting an increase of approximately 29.2%[20] - The company plans to focus on R&D innovation, brand building, and digital transformation in 2024, aiming to enhance product structure and business balance[78] - The company has established a comprehensive salary system linked to business performance, granting 6,626,176 restricted stock awards during the year[76] Sustainability and Corporate Responsibility - The company is committed to sustainable practices, launching products with reduced packaging carbon footprints and promoting a "better organic" concept[41] - The company is committed to its "GREEN" strategy and "dual carbon" goals, with initiatives to reduce carbon emissions across the supply chain[74] - Mengniu has planted 97 million trees in Ulan Buh Desert, contributing to the transformation of over 200 square kilometers of desert into green land[74] - The establishment of the world's first fully intelligent dairy factory in Ningxia is expected to achieve an annual output of 1 million tons and generate RMB 10 billion in revenue[58] - The company received ISO 37301 and GB/T35770 compliance management system certifications, marking it as the first dairy enterprise globally to achieve such certifications[75] Operational Efficiency - The company continues to monitor performance across its operating segments to inform resource allocation and performance evaluation decisions[16] - The company is actively optimizing its channel structure and enhancing operational management efficiency through integrated management and centralized factory layouts[44] - Sales and distribution expenses increased by 12.7% to RMB 25.1922 billion, accounting for 25.5% of total revenue[62] - The company has recognized a deferred tax expense of RMB 164,341 thousand for the current year, down from RMB 376,195 thousand in the previous year, indicating a significant reduction of 56.3%[29] Shareholder Returns - The proposed final dividend for the current year is RMB 0.489 per ordinary share, up from RMB 0.402 per share in the previous year, marking a 21.6% increase[31] - The total declared and paid ordinary share dividends for the current year amount to RMB 1,588,015 thousand, compared to RMB 1,506,669 thousand in the previous year, which is an increase of 5.4%[31] - The board of directors proposed a final dividend of RMB 0.489 per share for the year ending December 31, 2023, compared to RMB 0.402 per share for 2022[86]