On March 25, Uni-President China Holdings Co., Ltd. released its 2019 performance announcement, reporting full-year revenue of RMB 22.0197 billion, up 1.1% from the previous year; net profit for 2019 was RMB 1.366 billion, a year-on-year increase of 32.7%. Gross profit increased by 8.6% from RMB 7.288 billion in the same period last year to RMB 7.918 billion, with gross margin rising 2.5 percentage points from 33.5% to 36.0%. According to the financial report, this was mainly due to Uni-President's continuous optimization of product structure, lower raw material prices, and a series of tax and fee reduction policies implemented by the Chinese government. It is particularly noted that Uni-President China's two major business segments—instant noodles and beverages—saw revenue increases of 0.9% and 0.9%, respectively, reaching RMB 8.5 billion and RMB 12.73 billion, accounting for 38.6% and 57.8% of the group's total revenue, respectively. -01- Instant Noodle Business In 2019, the instant noodle market was highly competitive, but Uni-President China managed to achieve nearly one percentage point revenue growth, which the company attributes mainly to the continued market recognition of the mid-to-high-priced brand "Tang Daren," whose sales in 2019 achieved double-digit growth compared to 2018. In the second half of 2019, the upgraded Tang Daren series, Jiwei Guan, was launched at a price of RMB 10, aiming to meet the high-end needs of target consumers. In 2019, Uni-President's Laotan Sauerkraut Beef Noodles collaborated with well-known domestic anime IPs such as Tencent Animation's "Mo Dao Zu Shi" to rejuvenate the brand and continuously strengthen its category leadership. Duhui Xiaoguan and Suanla Feichang Noodles, with their authentic street food flavors, achieved good sales results in e-commerce. -02- Beverage Business Uni-President China's beverage business continued to focus on product freshness management. Despite market price disruptions in 2019, it maintained stable channel prices and adhered to value-based marketing. Tea beverages achieved revenue of RMB 5.6163 billion. Among them, classic brands Uni-President Ice Black Tea and Uni-President Green Tea performed steadily, while Xiaoming Tongxue sales were weak, and its brand positioning is being readjusted. In response to health awareness and consumption upgrades, the company launched Chaliwang sugar-free tea, along with Tea·Shunxian refrigerated tea, to meet high-end market demand. Juice achieved revenue of RMB 1.7466 billion, up 1.3% from the same period last year. Uni-President Fresh Orange attracted young consumers by inviting a new-generation spokesperson, expanding its sales reach. Products such as Hai Zhi Yan, Uni-President Crystal Pear, Uni-President Tomato Juice, Guo Zhongzou, and Yuanqi Juexing also actively carried out marketing activities to maintain high-frequency interaction with consumers. Milk tea business revenue increased by 13.1% year-on-year, achieving double-digit growth for three consecutive years. Among them, Uni-President Assam Milk Tea continuously improved freshness management. In 2020, in response to changes in consumer shopping habits, it will collaborate with e-commerce platforms to plan online sales promotion activities; and in line with the consumption characteristics of online shopping platforms, it will develop new products such as 3-pack or 4-pack combinations of different flavors of Uni-President Assam. In addition, according to the financial report, Uni-President has laid out new products in coffee, packaged water, aluminum can beverages, and sweet sake, further expanding its beverage territory. -03- Summary According to Uni-President China's financial report, at the beginning of 2020, as the novel coronavirus raged, Uni-President fully cooperated with government epidemic prevention measures, coordinated inventory and logistics across regions, and provided free instant noodles, self-heating rice, beverages, and other supplies to medical staff in key areas. In addition, the group actively communicated with local governments to resume work and production, formulated internal epidemic prevention standard procedures, and actively invested in epidemic prevention and market livelihood needs during the全员防疫 process. Under the impact of the epidemic, the home economy lifestyle has influenced changes in consumption patterns such as e-commerce and the home economy, but it must also be pointed out that the times create opportunities, such as the surge in instant noodle sales during the epidemic. Uni-President stated that it will formulate corresponding countermeasures in response to this opportunity, continuing to provide consumers with convenient and satisfying products. Tips will be paid 400-2000 yuan once adopted.