Uni-President China (220) H2 2025 earnings summary

Executive summary

• Revenue grew 4.6% year-over-year to RMB 31,714 million, with net profit up 10.9% to RMB 2,050 million.

• Gross margin improved by 0.7ppt to 33.2%, and operating margin rose to 8.1% from 7.4% year-over-year.

• EBITDA increased 6.6% to RMB 3,860.6 million, and earnings per share rose to RMB 47.47 cents.

• Final dividend proposed at RMB 47.47 cents per share, totaling RMB 2,050.2 million, subject to shareholder approval.

• Achieved record-breaking results amid challenging market conditions and structural transformation in China's consumer market.

Financial highlights

• Operating profit rose 14.3% year-over-year to RMB 2,565 million.

• Gross profit increased 6.7% to RMB 10,529.2 million, with gross margin at 33.2%.

• Profit before income tax increased 10.7% to RMB 2,751 million.

• Cash and cash equivalents at year-end were RMB 11,483 million, up from RMB 10,254 million.

• Capital expenditure for the year was RMB 1,186.0 million, focused on marketing assets and production equipment.

Outlook and guidance

• Emphasis on focused operation, health trends, and emotional value for 2026.

• Plans to drive product strength through R&D innovation and expand into new consumption scenarios.

• Juice and milk tea businesses to focus on low-sugar, healthy products and multi-scenario channel expansion.

• Final cash dividend for the year is subject to shareholder approval at the upcoming AGM.