Financial Performance - Revenue for the year ended December 31, 2022, was RMB 20,968 million, representing a 6.0% increase from RMB 19,784 million in 2021[4] - Adjusted EBIT for the year was RMB 1,588 million, up 13.6% from RMB 1,398 million in the previous year[4] - Adjusted EBITDA increased by 15.2% to RMB 2,302 million from RMB 1,998 million in 2021[4] - Net profit for the year was RMB 1,210 million, an increase from RMB 1,075 million in 2021, reflecting a growth of 12.5%[8] - Basic and diluted earnings per share for the year were RMB 23.59, up from RMB 20.46 in 2021[7] - The company's net profit attributable to shareholders increased to RMB 659,836,000 in 2022, up from RMB 572,415,000 in 2021, reflecting a growth of approximately 15.3%[29] - Basic earnings per share rose to RMB 23.59 in 2022 from RMB 20.46 in 2021, an increase of about 10.4%[29] Revenue Breakdown - Total revenue for the year 2022 reached RMB 20,967,837,000, an increase from RMB 19,784,422,000 in 2021, representing a growth of approximately 6.0%[18] - Revenue from carbonated beverages was RMB 15,875,110,000, up from RMB 15,052,041,000 in the previous year, indicating a growth of about 5.5%[19] - Juice product revenue increased to RMB 3,001,855,000 from RMB 2,531,038,000, reflecting a growth of approximately 18.5%[19] Expenses and Costs - The cost of sales for the year was RMB 13,469,507,000, compared to RMB 12,723,534,000 in 2021, resulting in an increase of about 5.8%[23] - Employee benefits expenses totaled RMB 2,425,933,000, slightly down from RMB 2,456,554,000 in the previous year, a decrease of around 1.2%[23] - Advertising and promotional expenses rose to RMB 1,539,658,000, compared to RMB 1,490,574,000 in 2021, marking an increase of approximately 3.3%[23] Assets and Liabilities - Total assets as of December 31, 2022, were RMB 15,063 million, a slight decrease from RMB 15,168 million in 2021[9] - Total liabilities decreased to RMB 6,201 million from RMB 6,779 million in the previous year[10] - The company's net assets increased to RMB 8,862 million from RMB 8,389 million in 2021[10] Dividends - The company proposed a final dividend of RMB 0.117 per share, compared to RMB 0.102 per share in 2021[4] - The proposed final dividend for the year ended December 31, 2022, is HKD 0.133 per share, totaling approximately HKD 372,031,000 (about RMB 327,275,000), an increase from HKD 0.125 per share in 2021[34] Market and Operations - The group operates primarily in the mainland China market, with all revenue generated from customers in this region[21] - The company maintained a market share of over 50% in the soft drink category within its operating region, significantly outpacing major competitors[41] - The juice category achieved a double-digit revenue growth year-on-year, driven by the strong performance of "Fruit Pulp Orange" and new product sales[42] - The ready-to-drink coffee category saw double-digit growth, with the "Coffee House" oat coffee targeting high-income young professionals in first- and second-tier cities[44] Strategic Initiatives - The company aims to become China's largest all-category beverage supplier and a digital platform for smart retail, focusing on health, channel penetration, and digital transformation[37] - The company is implementing a series of optimization measures, including a central planning center and supply chain integration, to enhance efficiency and reduce selling and administrative expense ratios[40] - The company is focusing on digital marketing, supply chain, and governance capabilities as part of its digital transformation strategy[38] Financial Management - The company has established financial risk management processes, regularly reviewed by senior management[50] - The company has no interest-bearing bank borrowings as of December 31, 2022, maintaining a debt-free status[51] - There are no significant contingent liabilities or asset pledges as of December 31, 2022[52] Governance and Compliance - The company has adopted the Corporate Governance Code as per the Hong Kong Stock Exchange rules, with a deviation regarding the separation of roles between the Chairman and the CEO[59] - The company confirmed that all directors have complied with the standards set out in the Model Code for Securities Transactions by Directors of Listed Issuers throughout the year[60] - The audit committee reviewed the consolidated financial statements for the year ended December 31, 2022, and discussed matters related to the audit, internal controls, and financial reporting[61] - The auditor, PwC, confirmed that the financial statements align with the audited figures for the year[62] Future Outlook - The company anticipates that raw material prices will remain high in 2023, impacting profit margins, and plans to optimize product structure and supply chain integration to mitigate cost pressures[47] - The company remains confident in achieving revenue and profit growth in 2023, with expectations for stable performance throughout the year[47]
中国食品(00506) - 2022 - 年度业绩