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
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...