CBC(SH:600132)2023-04-27 16:00Financial Performance - The company's operating revenue for 2022 was RMB 14,039,040,539.45, representing a 7.01% increase from RMB 13,119,310,688.30 in 2021[21]. - The net profit attributable to shareholders for 2022 was RMB 1,263,604,930.09, an increase of 8.35% compared to RMB 1,166,243,415.91 in 2021[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,234,338,183.95, up 8.00% from RMB 1,142,853,438.97 in 2021[21]. - The net cash flow from operating activities for 2022 was RMB 3,752,648,258.54, a 5.27% increase from RMB 3,564,787,113.40 in 2021[21]. - The total assets at the end of 2022 were RMB 12,497,542,168.83, an increase of 8.37% from RMB 11,532,809,144.20 at the end of 2021[21]. - The net assets attributable to shareholders at the end of 2022 were RMB 2,056,155,782.63, reflecting a 17.19% increase from RMB 1,754,545,104.23 at the end of 2021[21]. - Basic earnings per share for 2022 was CNY 2.61, an increase of 8.35% compared to CNY 2.41 in 2021[22]. - The weighted average return on equity decreased to 69.25% in 2022, down 30.44 percentage points from 99.69% in 2021[22]. Dividend Distribution - The company plans to distribute a total cash dividend of RMB 1,258,325,114.80, which amounts to RMB 2.60 per share[4]. - The remaining undistributed profits after the dividend distribution will be RMB 77,688,691.36 for the consolidated statements and RMB 302,834,012.05 for the parent company[4]. - The cash dividend distribution represents 99.58% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is RMB 1,263,604,930.09[123]. Operational Highlights - The company operates 26 breweries, enabling efficient operations through coordinated procurement, production, and logistics across a wide area[32]. - The company achieved a sales growth of 2.4%, outperforming the industry average, with a total beer production of 3,568.7 million liters[28]. - The company expanded its presence in major cities, adding 15 new cities, with a focus on high-end product offerings, achieving double-digit growth in key regions[28]. - The company’s e-commerce sales grew rapidly, leveraging platforms like Douyin and community group buying to enhance brand recognition and user conversion[28]. - The company launched new products, including a limited edition beer for its 175th anniversary, which sold out quickly, reflecting strong consumer interest[28]. Sustainability Initiatives - The company reduced CO2 emissions per 100 liters of beer by 75% since 2015, achieving a target of a 50% reduction by 2022[29]. - The company recycled approximately 190,000 tons of spent grain and 1.66 million tons of spent yeast in 2022, promoting sustainable practices[29]. - The company reduced water consumption from 3.87 HL/HL in 2015 to 2.24 HL/HL in 2022, exceeding its target of a 25% reduction[29]. - The company is committed to sustainability goals, including achieving "zero carbon footprint" and "zero water waste" as part of its "Together Towards Zero" initiative[76]. - The company achieved a 42% reduction in water consumption per hectoliter from 2015 to 2022, with total water savings exceeding 2.07 million cubic meters, equivalent to 8 million Olympic-sized swimming pools[142]. Market Strategy - The company plans to continue focusing on success in the Chinese market as part of Carlsberg Group's strategic priorities for 2027[31]. - The company is focusing on developing high-profit base markets and accelerating growth in high-potential markets[75]. - The company plans to enhance its brand portfolio, focusing on local connections and high-end product offerings, with specific strategies for brands like Dali and Tianmu Lake to increase market share[77]. - The company aims to expand its sales channels, particularly in the on-premise market, while optimizing product combinations in key markets and advancing digital sales channels[78]. Governance and Compliance - The company held 11 board meetings, 8 audit committee meetings, and 4 nomination committee meetings during the reporting period[81]. - The board completed its re-election process, with members possessing extensive experience in the beer industry and knowledge in accounting, finance, and law[81]. - The company strictly adhered to legal regulations regarding related party transactions, ensuring fairness and protecting the interests of investors[81]. - The company enhanced its information disclosure practices, ensuring timely and accurate reporting to all shareholders[81]. Future Outlook - The company maintains a cautiously optimistic outlook for the 2023 macroeconomic environment and the beer industry, expecting a mid-single-digit revenue growth[77]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[93]. - The company is planning to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2025[100]. Legal Matters - The company is involved in a significant lawsuit with its associate company, Chongqing Jiawei Beer Co., with a claim amounting to RMB 822 million related to contract disputes[167]. - The company has a pending lawsuit against Chongqing Jiawei's major shareholder, Yuxin Group, seeking the return of approximately RMB 700 million in illegally occupied funds[168]. - The company has faced a total of 1.17 billion RMB in litigation related to profit distribution disputes with its subsidiary, Chongqing Jiawei[168]. Financial Management - The company has engaged in various financial management activities, including a total of CNY 1.5 billion in bank wealth management products with a fixed annual yield of 2.45%[173]. - The company has successfully recovered all principal and interest from its wealth management investments, totaling CNY 3.1 million in expected returns from multiple investments[174]. - The company appointed Tianjian Accounting Firm as the financial audit and internal control audit institution for the 2022 fiscal year, with total remuneration of RMB 3 million, including RMB 1.8 million for financial statement audit and RMB 1.2 million for internal control audit[164].