Core Insights - The company, Uni-President China Holdings Ltd., has shown continuous improvement in profitability and maintains a high dividend policy, with a projected revenue of 30.33 billion yuan in 2024, a year-on-year increase of 6.1%, and a net profit of 1.849 billion yuan, up 10.9% year-on-year [1][2] Group 1: Financial Performance - The company achieved a revenue of 30.33 billion yuan in 2024, reflecting a 6.1% year-on-year growth [1] - The net profit attributable to shareholders is projected to be 1.849 billion yuan in 2024, representing a 10.9% increase year-on-year [1] - The company has a dividend yield of 5.44% as of October 20, 2025, indicating a strong shareholder return policy [1] Group 2: Market Position and Trends - The soft drink industry in China is expected to grow to 691.42 billion yuan in 2024, with a projected CAGR of 5.11% from 2024 to 2029 [1] - Uni-President maintains a leading position in segments such as sugar tea and ready-to-drink milk tea [1] - The instant noodle market is valued at over 100 billion yuan, with a clear trend towards premiumization and health upgrades [1] Group 3: Product Innovation and Channel Strategy - The company is actively promoting sugar-free tea products and has upgraded its classic product, Hai Zhi Yan, to an electrolyte drink for rapid growth [2] - The classic product, Lao Tan Sauerkraut Noodles, continues to grow steadily, while the brand Qie Huang targets the mid-range market with a focus on tomato flavor [2] - The company is enhancing its sales system efficiency and establishing deep collaborations with high-end membership stores and snack wholesale systems [2] Group 4: Future Projections - Revenue projections for 2025, 2026, and 2027 are 32.49 billion yuan, 34.41 billion yuan, and 36.26 billion yuan, respectively, with year-on-year growth rates of 7.11%, 5.92%, and 5.37% [3] - Expected net profits for 2025, 2026, and 2027 are 2.264 billion yuan, 2.521 billion yuan, and 2.749 billion yuan, with growth rates of 22.42%, 11.34%, and 9.05% [3]

Core Insights - The phenomenon where products perform better when not closely monitored by headquarters is becoming common in the food and beverage industry [1][8] - Companies that shift focus away from certain products often see unexpected sales growth, indicating a disconnect between management strategies and market realities [2][8] Group 1: Company Management and Sales Performance - Companies that intensively manage specific products often see disappointing sales despite increased investment and resources [2][4] - For instance, a company focused on ice tea and electrolyte drinks saw poor sales despite heavy investment, while reducing focus led to a double-digit growth in sales [2][8] - Another company in the instant noodle sector experienced a similar trend, where reduced investment led to a 7-8% sales increase despite overall low growth in the industry [2][8] Group 2: Impact of Headquarters Management - Increased scrutiny and management from headquarters can lead to confusion and inefficiency at the regional level, resulting in distorted execution of sales strategies [3][4] - Headquarters often imposes numerous performance metrics and expectations, which can overwhelm sales staff and detract from effective selling practices [5][7] - The pressure to meet high expectations can lead to a focus on short-term results rather than sustainable growth, causing employees to feel demotivated [5][7] Group 3: Market Dynamics and Employee Experience - Employees with extensive market experience can adapt and sell traditional products effectively when given the autonomy to do so, leading to unexpected sales growth [8][10] - The disconnect between management and frontline employees can result in ineffective strategies that do not align with market conditions [10][11] - A culture of internal competition and excessive focus on metrics can lead to inefficiencies and a lack of meaningful progress in sales [11][13] Group 4: Recommendations for Management - Companies should consider granting more autonomy to regional teams to respond to market dynamics effectively, rather than imposing rigid controls from headquarters [13] - A balance between oversight and independence is crucial for fostering an environment where sales teams can thrive and adapt to changing market conditions [13]

编辑：竺天 审核： Single 来源：新消费智库 新消费导读 "方便面鼻祖"入华40年后"水土不服"。 这是新消费智库第 2 6 2 0 期文章 作者 ： l y y 日清，号称 "泡面鼻祖"， 它曾 在中国市场把 一杯泡面 打造成了 " 精致速食 " 。 早在 1984 年便进入香港开展业务， 1994 年开始在 内地扩张，在广东顺德建厂。几十年来，日清凭借让中国消费者耳目一新的产品体验，受到消费者的青睐，营收一度超过 40 多亿港元， 却 又在短短三年间， 尽显颓势 。 被称为 "泡面鼻祖"的日清食品近期发布的 2024 财年年报 显示， 2024 年 1 月 1 日 -2024 年 12 月 31 日 ，日清食品 实现营业收入 38.12 亿港元，同比下降 0.56% 。 这是日清食品自 2022 年实现 40.25 亿港元营收之后，连续第二年收入下滑。 尽管报告期内日清食品毛利率小幅提升至 34.4% ，但净利润大幅下滑了 39.1% ，仅为 2.01 亿港元，净利润率下滑至 5.3% 。 在报告期内，日清食品报告期内，公司计提了约 1.359 亿港元的非现金减值，其中包括中国内地及香港长寿面、非油 ...