统一企业中国 二零一三年中期报告(6)

统一企业中国 二零一三年中期报告

Management Discussion & Analysis

2013 12,203.9 10,648.1 14.6% 12.6% 4,144.7 34.6% 0.6 34.0% 2013 6 620.0 213.3 3,498.2 2012 2,882.5 390.3 2012 353.0 48.4 2012 63.6 13.9% 574.9 2012 504.9

FINANCIAL RESULTS

Due to the significant downswing in the PRC economic growth in the first half of 2013 and the intensifying competition within the industry, revenue, gross profit and operating profit of the Group showed a slower growth during the Period under Review. Nevertheless, the Group outperformed the market in terms of revenue growth as a result of the effective implementation of its focused operating strategies and increased brand value. During the Period under Review, the Group recorded a revenue of RMB12,203.9 million, representing an increase of 14.6% from RMB10,648.1 million for the corresponding period last year. Our gross profit increased by 12.6% to RMB4,144.7 million, while the gross profit margin dropped by 0.6 percentage points to 34.0% from 34.6% compared to the corresponding period last year. The slight decrease in gross profit margin was mainly attributable to the sluggish instant noodles and beverage markets and intensifying industry competition, and the relatively lower prices of major raw materials during the Period under Review were not able to set off the effect. Also, the Group devoted more resources in improving our products in order to enhance our market share. The operating profit included a net gain of RMB213.3 million from the sale and transfer of machineries and equipment of (Beijing President Enterprises Drinks Co., Ltd.*) and (Kunshan President Enterprises Food Co., Ltd.*), wholly-owned subsidiaries of the Company, from the Group to Cayman Ton Yi (China) Holdings Limited, a connected person of the Group, at a consideration of RMB620.0 million in June 2013. Due to the proactive efforts of the Group in brand building of its instant noodles and beverage business and sales channel development to expand its customer base during the Period under Review, selling and marketing expenses increased to RMB3,498.2 million (first half of 2012: RMB2,882.5 million). Administrative expenses for the Period under Review amounted to RMB390.3 million (first half of 2012: RMB353.0 million), which was mainly attributable to the increase in operating expenses in relation to the Group’s expansion. During the Period under Review, share of net profit of jointly controlled entities and associates reduced to RMB48.4 million (first half of 2012: RMB63.6 million) as a result of the sluggish economic growth. Profit attributable to equity holders of the Company for the Period under Review increased by 13.9% to RMB574.9 million (first half of 2012: RMB504.9 million).

5 Uni-President China Holdings Ltd. Interim Report 2013