经历了“不平凡”的一年，农夫山泉业绩挺住了

Core Viewpoint - Nongfu Spring has demonstrated resilience in a challenging year, achieving a revenue of 42.896 billion yuan and maintaining its position as the leading brand in China's packaged water market [1][2] Financial Performance - The company reported a revenue of 42.896 billion yuan, a year-on-year increase of 0.5%, and a net profit of 12.123 billion yuan, up 0.4% [1] - Basic earnings per share reached 1.078 yuan, reflecting a 0.4% increase year-on-year [1] - Gross profit remained high at 24.915 billion yuan, with a slight year-on-year decrease of 1.93%, resulting in a gross margin of 58.1% [2] Revenue Composition - Revenue from tea beverages surged to 16.745 billion yuan, marking a significant year-on-year increase of 32.3%, and became the largest revenue source for the company, surpassing packaged drinking water for the first time [1] - Packaged drinking water revenue was 15.952 billion yuan, experiencing a year-on-year decline of 21.3% due to negative impacts from brand attacks [1][4] Product Performance - The tea beverage segment, particularly products like Dongfang Shuye and Tea π, showed strong sales performance, contributing significantly to overall revenue growth [3][5] - Functional beverages generated revenue of 4.932 billion yuan, a year-on-year increase of 0.6%, while juice beverages reached 4.085 billion yuan, up 15.6% [5] Strategic Investments - The company has intensified investments in water source locations, with over 10 billion yuan allocated to projects across six key water source areas [6] - Nongfu Spring is also focusing on agricultural partnerships to enhance the quality of raw materials for its juice products [6] Future Outlook - The company anticipates stable growth in the consumer market driven by policies encouraging consumption, presenting new opportunities for development [6] - Plans to explore overseas market opportunities are also in place to expand the company's growth potential [7]