UNI-PRESIDENT CHINA HOLDINGS LTD Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(a company incorporated in the Cayman Islands with limited liability)
(Stock Code: 220)
PRESENTATION ON ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020
A presentation in relation to the results of Uni-President China Holdings Ltd. and its subsidiaries for the year ended 31 December 2020 is appended to this announcement.
On behalf of the Board Uni-President China Holdings Ltd.
Lo Chih-Hsien
Chairman
Hong Kong, 19 March 2021
As at the date of this announcement, the Board comprised Mr. Lo Chih-Hsien and Mr. Liu Xinhua as executive directors; Mr. Chen Kuo-Hui and Mr. Su Tsung-Ming as non-executive directors; and Mr. Chen Sun-Te, Mr. Chen Johnny, Mr. Fan Ren-Da, Anthony and Mr. Lo Peter as independent non-executive directors.
2020 Annual Results
19 March, 2021
Disclaimers
The information contained in this presentation is intended solely for your personal reference. Such information is subject to change without notice and no representation or warranty express or implied is made as to, and no reliance, should be placed on, the fairness, accuracy, completeness or correctness of the information contained in this presentation. This presentation does not intend to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects. None of the Company nor any of its respective affiliates, advisors or representatives shall have any liability (in negligence or otherwise) whatsoever for any loss or damage howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.
This presentation contains projections and forward-looking statements that may reflect the Company's current views with respect to future events and financial performance. Readers are cautioned not to place undue reliance on these forward-looking statements which are subject to various risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This presentation does not constitute an offer or invitation to purchase or subscribe for any securities or financial instruments or the provision of any investment advice, and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto, nor does this presentation constitute a recommendation regarding the securities or financial instruments of the Company.
2
Results Highlight
*ROE figures are based on average equity attributable to shareholders of the company the board of directors of the Company will propose to declare a final cash dividend for the year at the forthcoming annual general meeting of the Company. Subject to the approval of Shareholders at the forthcoming annual general meeting of the Company.
(In RMB mn unless otherwise noted) Revenue Gross profit 2020 22,762 8,066 2019 YoY
| ||
Gross margin | 35.4% | 36.0% -0.6 ppts |
Operating profit | 2,108 | 1,806 16.7% |
Operating margin | 9.3% | 8.2% 1.1 ppts |
Pretax profit | 2,326 | 1,971 18.0% |
Pretax margin | 10.2% | 9.0% 1.2 ppts |
Net profit | 1,626 | 1,366 19.0% |
Net margin | 7.1% | 6.2% 0.9 ppts |
EPS (RMB cents) DPS (RMB cents)** | 37.64 37.64 |
|
ROE * | 11.8% | 10.2% 1.6 ppts |
s are based on average equity attributable to shareholders of the company **the board of dire |
Earnings drivers (2020)
(RMB mn) +3.4% YoY | 2020 vs. 2019 +16.7% YoY +18.0% YoY +19.0% YoY |
Positive Negative Gross Margin** 35.4% -0.6 pptsOP Margin 9.3% +1.1 pptsPretax Margin 10.2% +1.2 pptsNet Margin 7.1% +0.9 ppts |
* Including selling and marketing, administrative, other income/expenses and other gains - net; **Gross margin declined mainly due to product mix change owing to the pandemic, food segment contribution to total revenue increase 2.8 ppts to 41.4% of total revenue.
Financial Highlights
(RMB mn) 2020 Amount % 2019 Amount % Cash* Borrowings** Total Assets Total Equity
| ||
(Borrowings** - Cash*)/ Equity | -51.9% | -39.0% |
Current Ratio | 80.4% | 91.8% |
Trade Receivable Turnover Days | 9 | 9 |
Inventories Turnover Days*** | 45 | 41 |
Trade Payable Turnover Days*** | 44 | 42 |
* Including cash and bank balances, long-term time deposits, and term bank products (principal protected)
** excluding lease liabilities *** Longer inventory turnover days and trade payable turnover days versus last year are mainly due to preparation for high-demand products during the pandemic and for Chinese New Year.
Revenue breakdown by product
Total Revenue (RMB mn)
2019 Revenue mix
2020 Revenue mix
Food revenue growth of 10.9% YoY in 2020. "Soup Daren",
which has registered a double-digit in revenue for 12 consecutive years. Hotpot series products and a series of limited co-branded products were launched under "Kai Xiao Zao " to meet the needs of different consumers and extend the consumption scenarios.
* Food segment include self-heating rice meals "Kai Xiao Zao（開小灶）"
Beverage rev* breakdown by type
Total Revenue (RMB mn)
2019 Revenue mix
2020 Revenue mix
• Beverage revenue decline 1.3% YoY in 2020, mainly influenced by the epidemic in the first quarter and steadily picked up after the second quarter. Classic brands of "Uni Assam Milk Tea (統一阿薩姆奶茶)"
business marked a 7.3% YoY growth in 2020 while Sugar- free tea "Chai Li Won(茶裏王)" grow multiple times.
* Denotes revenue
Segment Performance
(RMB mn) | Food* | Beverages |
Revenue | ||
Gross margin | ||
Operating margin** * Food segment i | nclude self-heating rice meals "Kai Xiao Zao（開 | 小灶）" |
**Segment profit does not include unallocated profit/ (loss)
Expenses breakdown
(RMB mn) | 2020 vs. 2019 |
Selling and market expense ratio** to 23.5% (-0.9 ppt Yo | ing Administrative expense ratio** to 4.2% Y) (-0.4 ppts YoY)Company expense* ratio to 27.7% (-1.3 ppts YoY) |
* Selling and marketing plus administrative expense ** As % of revenue
Q & A Session
ir@pec.com.cn
Appendix 1: New Product StrategyAppendix 2: New Product Strategy
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Uni-President China Holdings Ltd. published this content on 19 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2021 08:45:02 UTC.
