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
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).