康师傅控股2023年报

Content Company ProfileFinancial SummarySales NetworkChairman’s StatementGroup StructureManagement Discussion and AnalysisProspectsEnvironmental, Social and Governance ReportCorporate Governance ReportDirectors and Senior Management ProfileDirectors’ ReportIndependent Auditor’s ReportConsolidated Income StatementConsolidated Statement of Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Consolidated Financial StatementsCorporate Information23678102122122153159177185186187189191193354 Company Profile Tingyi (Cayman Islands) Holding Corp. (the “Company”), and itssubsidiaries (the “Group”) specialise in the production and distributionof instant noodles and beverages in the People’s Republic of China (the“PRC”). The Group started its instant noodle business in 1992, andexpanded into instant food business and beverage business in 1996.In March 2012, the Group further expanded its beverage business byforming a strategic alliance with PepsiCo for the beverage business inthe PRC. The Company exclusively manufactures, bottles, packages,distributes and sells PepsiCo soft drinks in the PRC. After years of hardwork and accumulation, “Master Kong” has become one of the best-known brands among consumers in the PRC. 1992199620123PepsiCoPepsiCo Being a leading brand in the fast moving consumer goods industry,Master Kong has to hold the industry responsibility of food safetyand quality guarantee. The Group constantly builds and improvesmanagement system, establishes risk prevention management system,implements entire control over food safety and ensures product qualityand safety. We will constantly strive for product quality and food safety,as well as provide consumers with safe, tasty and healthy food products. 2023123134830376,875217,087 The Group distributed its products throughout the PRC throughits extensive sales network consisting of 348 sales offices and 303warehouses serving 76,875 wholesalers and 217,087 direct retailersas of 31 December 2023. This extensive sales network is a significantcontributor to the Group’s leading market position and it enables theGroup to introduce new products rapidly and effectively. 1996220231231536(MSCI) The Company was listed on The Stock Exchange of Hong Kong Limitedin February 1996. Market capitalisation as at 31 December 2023 wasHK$53.6 billion. The Company is a constituent stock of Morgan StanleyCapital International (MSCI) China Index and Hang Seng Index. Focused on food manufacture, sales and distribution business, theGroup will continue to strengthen its logistics and sales network in thePRC with target of becoming “The largest Group for Chinese InstantFood & Beverage in the World”. Financial Summary 綜合收益表CONSOLIDATED INCOME STATEMENT 各事業佔總收益的百分比 集團毛利率 除稅及息前溢利率EBIT MARGIN Chairman’s Statement Master Kong, as a leading national brand and company in China’s foodand beverage industry, has committed to providing consumers with “Life+ Delicacy”. The endeavors are there to bring joy to consumers in everybite they have with healthy and delicious products suitable for differentconsumer groups as well as consumption occasions. 2023 In face of market changes in 2023, the Group adhered to long-termismand pursued quality development. Gradual improvement had beenmade in gross margin structure, and active investments had been madein brand rejuvenation and food safety risk management, bolstering thestable growth of performance. Over the year, the Group had kept on with product innovation, brandingand channel development. Investment in basic research had beenintensified, talent echelon development accelerated, system platformintegration strengthened, and digital transformation expedited. Effortshad been made to continue to promote food safety and sustainabledevelopment, drive business growth, better serve customers andconsumers, create value for shareholders, and establish a comprehensivefood and beverage “National Brand” that is trustworthy for thegovernment, delightful for partners, and reassuring for consumers. 2024 The market in 2024 is still loaded with opportunities and challenges. TheBoard will continue to un-swervingly promote the Group’s high-qualitydevelopment in all aspects, upgrade products and services from withinand outside, drive the improvement of product quality for consumersand reasonable growth of total volume consumptions in the market,and prompt the management team, on an ongoing basis, to operate ina healthy manner to serve the wide population of consumers. I would like to express my heartfelt gratitude to all the shareholders,members of the Board, management team, employees, partners andconsumers for their support over all these years! 魏宏名2024326 Wei Hong-MingChairman of the Board Hong Kong, ChinaMarch 26, 2024 Group Structure Management Discussion and Analysis 宏觀及行業回顧 MACRO AND INDUSTRY REVIEW 20235.2%7.2%CPI China’s GDP grew 5.2% ye