2023-03-24 04:04Financial Performance - The group's consolidated revenue for the year ended December 31, 2022, was RMB 35,263 million, an increase of 5.6% compared to 2021[2] - Excluding a one-time initial compensation income of approximately RMB 1,755 million from land disposal in the previous year, the group's EBITDA and profit attributable to shareholders increased by approximately 23.4% and 32.8%, respectively[2] - The net profit attributable to shareholders for 2022 was RMB 4,344 million, compared to RMB 4,587 million in 2021[3] - Basic earnings per share for 2022 were RMB 1.34, down from RMB 1.41 in 2021[3] - The company reported a profit before tax of RMB 5,528 million, compared to RMB 5,000 million in the previous year, reflecting a growth of approximately 10.56%[14] - Net profit for the year was RMB 4,350 million, up from RMB 3,800 million in 2021, representing a year-on-year increase of about 14.47%[14] - The consolidated revenue for the year 2022 was RMB 35,263 million, representing a growth of 5.6% compared to 2021[38] - The net profit attributable to shareholders decreased by 5.3% to RMB 4,344 million, while EBITDA fell by 12.8% to RMB 5,227 million[38] Sales and Market Performance - Overall beer sales volume for 2022 rose by 0.4% to approximately 11,096,000 kiloliters[2] - Premium and above beer sales volume increased by approximately 12.6% to about 2,102,000 kiloliters, with the "Heineken®" brand continuing to show strong double-digit growth[2] - The average selling price increased by 5.2% in 2022 due to moderate price adjustments on certain products[2] - The overall gross profit margin decreased by 0.7 percentage points, while the total gross profit rose by 3.7% to RMB 13,561 million[38] - The sales and distribution expenses remained roughly the same as in 2021, with the sales expense ratio decreasing by 1.1 percentage points to 19.1%[39] Dividends and Shareholder Returns - The board proposed a final dividend of RMB 0.302 per share, totaling RMB 0.536 per share for the year, including an interim dividend of RMB 0.234[2] - The company declared a proposed final dividend of RMB 0.302 per share for 2022, consistent with the previous year's dividend[20] - The proposed final dividend will be distributed to shareholders listed on the company's register as of May 25, 2023, subject to approval at the annual general meeting[49] Assets and Liabilities - The total equity attributable to shareholders as of December 31, 2022, was RMB 27,039 million, up from RMB 24,432 million in 2021[3] - The total liabilities of the company were RMB 30,236 million, compared to RMB 28,000 million in 2021, showing an increase of approximately 7.99%[14] - The total assets of the company as of December 31, 2022, amounted to RMB 51,053 million, while total liabilities were RMB 26,564 million[15] - Current assets increased to RMB 20,878 million from RMB 15,897 million, marking a significant rise of about 31.16%[8] - The company reported a significant increase in cash and cash equivalents, which rose to RMB 10,208 million from RMB 5,376 million, a growth of about 89.93%[8] Product Development and Marketing - The company launched several new products in 2022, including a high-end beer "Chao Li" and new flavors of carbonated drinks, enhancing its product portfolio[2] - The company continued to promote its key brands through various marketing activities, including sponsorship of popular shows and events[39] - The company launched its first virtual brand ambassador "LimX" to enhance brand influence in the metaverse[39] - The company plans to launch its first Joy Brew tavern in the first half of 2023, aiming to explore new marketing channels for beer products[40] - The company aims to leverage market recovery opportunities in 2023 by increasing product coverage and brand investment[40] Corporate Governance - The company has adopted a corporate governance manual to ensure high standards of corporate governance, with revisions made on multiple dates since its adoption in April 2005[50] - As of December 31, 2022, the company has complied with the corporate governance code, except for the vacancy of the chairman position since July 2019[51] - The company will suspend share transfer registration from May 15, 2023, to May 19, 2023, to determine the identity of shareholders eligible to attend the annual general meeting[49] Employee Costs and Operations - The total employee costs, including directors' remuneration, were RMB 5,729 million in 2022, slightly up from RMB 5,692 million in 2021[19] - The total employee cost for the year ended December 31, 2022, was approximately RMB 5,729,000,000, with around 24,000 employees[47] - The company implemented cost control measures, resulting in a 39.3% decrease in one-time employee compensation and related costs[39] Investments and Joint Ventures - The investment in joint ventures remained stable at RMB 500 million as of December 31, 2022[22] - The company has committed to invest a total of RMB 1,026.7 million to acquire a 4.610% stake in Guizhou Jinsha, with an additional agreement to purchase 50.58% of the company for RMB 11,273.3 million[28] - The company completed the acquisition of a 55.19% stake in Guizhou Jinsha Liquor Industry Co., Ltd. on January 10, 2023, enhancing its presence in the liquor business[46]