Welcome!

News Feed Item

Huiyuan Juice Announces 2013 Annual Results

Enhanced Product Mix Drives Steady Business Growth

HONG KONG, March 18, 2014 /PRNewswire/ --

Financial Highlights:

RMB million

For the year ended
31 December

Change (%)

2013

2012

Revenue

4,503.9

3,980.8

+13.1

Gross profit

1,398.3

1,115.2

+25.4

Gross profit margin

31.0%

28.0%

+3.0% pts

Profit attributable to equity holders

228.5

16.2

+1,313.8

*Adjusted profit attributable to equity holders

330.9

101.9

+224.9

EBITDA

971.2

604.9

+60.6

Earnings per share (RMB fen)




-       Basic

13.5

1.1

+1127.3

-       Diluted

13.5

1.1

+1127.3


* Excluding interest expenses on convertible bonds, change in fair value of conversion rights of the convertible bonds, exchange gain relating to the convertible bonds and amortization of employee share option scheme.

China Huiyuan Juice Group Limited ("Huiyuan Juice" or the "Company", stock code: 1886.HK) is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively known as the "Group") for the year ended 31 December 2013 (the "Period").

During the Period, the Group achieved revenue of approximately RMB4.5 billion, up 13.1% year-on-year mainly due to higher sales volume of 100% juice and nectars, as well as an increase in average selling price of juice drinks. Gross profit increased 25.4% year-on-year to approximately RMB1.4 billion, while gross profit margin improved from 28.0% for 2012 to 31.0% for the full year of 2013. The margin improvement was attributable to greater sales contribution from 100% juices and nectars and higher margins from juice drinks resulting from the launch of new products.

Huiyuan Juice maintained a leading position in China's 100% juice and nectar markets. According to Nielsen, the Company commanded a 56.0% share in the 100% juice market and a 45.2% share in the nectar market by sales volume in 2013.

During the period, adjusted profit attributable to equity holders reached RMB331 million in the Period, up from approximately RMB102 million for the previous year. Basic earnings per share was RMB13.5 cents EBITDA for the Period climbed 60.6% year-on-year to approximately RMB971 million.

2013 was a significant year in the development of the Company. The Company announced and subsequently completed the acquisition of Huiyuan Industry, a leading producer of fruit juice concentrates and purees in China and one of our major suppliers of raw materials. The acquisition was of strategic importance for a number of reasons; 1) it transformed the group into a vertically-integrated business model and secures long term-access to key raw materials; 2) it improves quality control and food safety controls; 3) it further diversifies revenue; 4) it increases the transparency of the Group and significantly reduces connected transactions; 5) it improves the financial strength of the Group and allows it to continue to reinvest for future growth; 6) it improves the group's operational efficiency as well as generates potential synergies. As a result of this transaction, the Company is uniquely positioned in the fruit and vegetable juice industry in China with a vertically-integrated business model with operations along the value-chain from fruit-processing to sales and marketing.

In July 2013, the Company appointed Mr. Daniel Saw as CEO of the Company. He has quickly assembled a first-tier management team and has initiated changes throughout the organization in sales and marketing, and supply chain.

During the period, the Group disposed of two plants in Chengdu and Shanghai for an aggregate consideration of RMB650 million. Looking ahead, the Company will continue to identify similar opportunities to dispose of assets with low efficiency and further optimize our capital structure, in order to enhance operational efficiency, capacity utilization, and its financial structure as a whole.

Mr. Daniel Saw, Chief Executive Officer of the Group, said, "In 2013, leveraging its leading position, Huiyuan Juice transformed into a vertically-integrated business model through asset integration. The Group successfully enhanced its core competency and brand capability. In addition, the Group proactively improved its product mix and launched new products accommodating the shifting consumer trends, thereby achieving favorable sales performance and steady growth in results."

Commenting on the Group's future development, Mr. Zhu Xinli, Chairman of Huiyuan Juice, noted, "With continuing urbanization and improving living standards in China, domestic consumers have become more concerned with food safety and health and wellness. This is a very favorable trend for Huiyuan. Our reputable brand, product quality, and the healthiness of our products appeal to consumers at large. During the Period, the Group's recent efforts to improve our asset structure and achieve vertical integration began to bear fruits. Looking ahead, we are committed to the core values of "to value our customers, to embrace struggle and to reward contributors," and will continue to drive our business performance and future growth momentum to reward all of our customers, partners and shareholders."

About China Huiyuan Juice Group Limited

Huiyuan Juice, founded in 1992, is a leading modern fruit and vegetable juice producer and is the leading brand in China's juice market. According to Nielsen, Huiyuan Juice was the largest 100% juice and nectar producer in China in terms of sales volume for the year ended 31 December 2013. It commanded a 56.0% share in the 100% juice market and a 45.2% share in the nectar market. Huiyuan Juice has a nationwide distribution network and production plants in strategic locations. Its products are exported to various countries and regions, including the U.S. and Japan.

SOURCE China Huiyuan Juice Group Limited

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection.
CIOs and those charged with running IT Operations are challenged to deliver secure, audited, and reliable compute environments for the applications and data for the business. Behind the scenes these tasks are often accomplished by following onerous time-consuming processes and often the management of these environments and processes will be outsourced to multiple IT service providers. In addition, the division of work is often siloed into traditional "towers" that are not well integrated for cro...
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
In most cases, it is convenient to have some human interaction with a web (micro-)service, no matter how small it is. A traditional approach would be to create an HTTP interface, where user requests will be dispatched and HTML/CSS pages must be served. This approach is indeed very traditional for a web site, but not really convenient for a web service, which is not intended to be good looking, 24x7 up and running and UX-optimized. Instead, talking to a web service in a chat-bot mode would be muc...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...