Uni-President China (220) H1 2025 earnings summary

Executive summary

• Revenue for the first half of 2025 grew 10.6% year-over-year to RMB17,087 million, with net profit up 33.2% to RMB1,287 million, driven by strong food and beverage segment growth.

• Gross margin improved to 34.3%, up 0.5 percentage points, and operating profit rose 33.7% to RMB1,648.7 million.

• EPS increased 33.2% to RMB0.2979 per share.

• The Group maintained a consumer-centric approach, focusing on product innovation, omni-channel integration, and emotional marketing.

Financial highlights

• Gross profit reached RMB5,864.8 million (+12.2% YoY); gross margin was 34.3% (+0.5 ppt YoY).

• Food segment revenue: RMB5,382.2 million (+8.8% YoY); Beverages: RMB10,788.1 million (+7.6% YoY).

• Cash and cash equivalents were RMB10,673 million as of June 30, 2025; net cash position reflected by a gearing ratio of -55.35%.

• Capital expenditure increased to RMB641.8 million from RMB395.8 million year-over-year.

• No interim dividend declared for the period.

Outlook and guidance

• The Group expects continued economic resilience in China and further transformation in the FMCG sector, focusing on high value-for-money, health-oriented, and innovative products.

• Plans to deepen market penetration, enhance product quality, and strengthen emotional connections with consumers.

• Forward-looking statements caution about risks and uncertainties affecting future performance.