---
title: "Uni-President China Holdings Announces 2023 Interim Results: Revenue of RMB 14.6 Billion, Revitalizes Sea-Yan, and Enters Pre-made Dishes Market"
description: "On August 9, Uni-President China Holdings (hereinafter referred to as Uni-President China) announced its 2023 interim results, with revenue of RMB 14.572 billion in the first half of 2023, up 4.5% year-on-year; net profit was RMB 877 million, up 42.7% year-on-year. In the first half of 2023, as the impact of the pandemic subsided and the market gradually returned to order, Uni-President China's performance was also very intuitive. In terms of beverages, as people went out more and expanded their activity range, consumption scenarios such as dining out recovered..."
author: "冯瑶"
publisher: "New Distribution"
email: "zhaobo258@gmail.com"
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published: "2023-08-11"
language: "en"
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# Uni-President China Holdings Announces 2023 Interim Results: Revenue of RMB 14.6 Billion, Revitalizes Sea-Yan, and Enters Pre-made Dishes Market

> On August 9, Uni-President China Holdings (hereinafter referred to as Uni-President China) announced its 2023 interim results, with revenue of RMB 14.572 billion in the first half of 2023, up 4.5% year-on-year; net profit was RMB 877 million, up 42.7% year-on-year. In the first half of 2023, as the impact of the pandemic subsided and the market gradually returned to order, Uni-President China's performance was also very intuitive. In terms of beverages, as people went out more and expanded their activity range, consumption scenarios such as dining out recovered...

On August 9, Uni-President China Holdings (hereinafter referred to as Uni-President China) announced its 2023 interim results. In the first half of 2023, revenue was RMB 14.572 billion, up 4.5% year-on-year; net profit was RMB 877 million, up 42.7% year-on-year.
In the first half of 2023, as the impact of the pandemic subsided and the market gradually returned to order, Uni-President China's performance was also very intuitive.
**In terms of beverages,** as people went out more, expanded their activity range, and consumption scenarios such as dining out recovered, the beverage segment performed strongly with double-digit growth, and this performance growth was mainly driven by beverages.
**In terms of food,** due to the phased decline in home scenarios and stockpiling demand after the pandemic subsided, the food segment saw a single-digit decline compared to the same period last year, with some pressure on performance.
However, achieving both revenue and net profit growth, Uni-President China's performance in the first half of the year was commendable, and it had some new moves in both the beverage and food segments worth noting. Next, New Distribution will take you through them.
**Strong Beverage Growth**
**Sea-Yan Relaunched**
According to the financial report, Uni-President China's beverage segment revenue in the first half of the year was RMB 9.258 billion, up 12.3%, with tea drinks and juices continuing their growth momentum, both achieving double-digit year-on-year revenue growth.
In tea drinks, first-half revenue was RMB 4.157 billion, up 13.9% year-on-year. Both "Uni-President Green Tea" and "Uni-President Iced Black Tea" underwent brand and product upgrades in the first half, and both performed over 50% better in the second quarter compared to the first quarter.
Driven by the health trend, the new "Unsweetened Jasmine Green Tea" was launched under the "Uni-President Green Tea" series, and "Uni-President Iced Black Tea" was also upgraded with the addition of "real lemon juice," locking in the brand proposition of "Real Lemon, Real Youth," with a youthful upgrade to the brand's visual identity to attract the new generation of consumers.
"Tea Cha Wang" is further expanding into second-tier cities, and has made new breakthroughs in product technology, applying the pioneering "fresh leaf juicing" process to the green tea category, further enhancing the product characteristics of Tea Cha Wang to meet consumers' pursuit of additive-free, sweet aftertaste tea.
The financial report mentioned that **the overall tea drink brand is diversifying its layout and actively communicating and interacting with consumers in marketing.**
Targeting the younger generation, focusing on student groups, Gen Z, and anime culture, it precisely operates on Bilibili, strengthening content creation and audience penetration; for the general public, it continues to strengthen product power and increase investment in channels such as home, dining, and O2O.
In juices, first-half revenue was RMB 1.655 billion, up 18.1% year-on-year, continuing the growth momentum of 2022.
Among them, "Sea-Yan" seized the opportunity of the post-pandemic electrolyte beverage trend, with revenue in the first half of this year nearly doubling compared to last year.
It is understood that "Sea-Yan" has partnered with the well-known consulting firm "Hua & Hua" for a comprehensive upgrade and relaunch. Riding the wave of electrolyte beverages, from its former "peak popularity" to today's "high expectations," "Sea-Yan" is expected to become a new growth breakthrough.
In milk tea, first-half revenue was RMB 3.18 billion, up 7.1% year-on-year. With the leading advantage of the major product "Assam Milk Tea" maintaining the top position in the milk tea category, over the past three years, "Assam Milk Tea" has continued to maintain double-digit compound annual growth rate in revenue.
Overall, **the beverage segment's product performance has been steady with progress, and the increased innovation and marketing in tea drinks align with current beverage development trends.**
According to Nielsen's May 2023 FMCG Market Monthly Insight Report, ready-to-drink tea ranks first in overall channel growth and convenience store channel growth, trending to become the largest beverage subcategory, with year-to-date (YTD) market value nearly on par with carbonated drinks, which rank first, and becoming the subcategory with the highest market value in convenience store channels.
In addition, electrolyte beverages have attracted consumer attention due to the pandemic, further stimulating and expanding market demand for this category. "Sea-Yan" positioning itself in the electrolyte beverage track not only aligns with the original brand tone of "Sea-Yan" but also reinforces consumers' mental positioning of "Sea-Yan," and during the dividend period of electrolyte beverages, it is expected to further expand its consumer base and increase market share.
**Continuous Innovation in Food**
**"Kaixiaozao" Enters Pre-made Dishes**
In the first half of 2023, Uni-President China's food segment revenue was RMB 4.902 billion, down 8.7%, but the net profit margin recovered by 1.7 percentage points compared to the same period last year.
Compared to last year's situation of increased revenue but not profit, this year has somewhat eased. After the pandemic dividend faded, convenience food returned to market averages, and the phased revenue correction is in line with market expectations. With continued operation and maintenance, it is expected to recover later.
In the first half of the year, the entire food segment of Uni-President China continuously optimized product flavors and product power. "Tang Daren" launched a new rice noodle product, with online sales feedback showing a 99% positive rating; "Laotan Sauerkraut" created the brand IP "Laotan Grandpa" and used one-item-one-code tracking technology to connect to production line live streaming, enhancing consumer trust in quality with a continuous open and transparent attitude; "Qie Huang" upgraded its visual symbols to highlight its positioning as the pioneer of tomato delicacies, with revenue growth exceeding 50% in the first half of the year.
**In recent years, Uni-President's innovation and leadership in the food segment have been evident to the industry.** We have seen the rapid progress and continuous iteration of "Tang Daren," as well as the emergence of Chinese delicacies like "Qie Huang," "Kaixiaozao," and "Na Jie Na Xiang," which behind it all reflects the values of the Uni-President Group.
Uni-President Group Chairman Lo Chih-hsien once announced the "exit" from the instant noodle market, while also mentioning the concept of "value marketing," showing that his positioning for Uni-President food is by no means just "instant noodles." The value behind it is to break through in more food directions that can create good-quality delicacies and promote Chinese food culture.
Today's product innovation in instant noodles and the launch of diversified convenient foods like "Kaixiaozao" all demonstrate that the value of **committing to integrating healthy ingredients into national flavors and providing consumers with good-quality delicious food** has been consistently practiced.
In the second half of this year, Uni-President mentioned in its financial report that "Kaixiaozao" will enter the pre-made dishes frozen food sector, which will also be an important step in Uni-President's pursuit of convenient food.
China's pre-made dishes market has promising development prospects.
After being written into the 2023 Central Document No. 1 for the first time, the National Development and Reform Commission required accelerating the construction of pre-made dishes bases, and multiple departments including the Ministry of Industry and Information Technology included it in the new economic growth points to be cultivated and expanded. Relevant data shows that in 2023, China's pre-made dishes market size will reach RMB 510 billion, and by 2026, it will reach RMB 1.072 trillion.
**As a deep cultivator and pioneer in the food industry, Uni-President's entry into pre-made dishes will bring a new round of industrial opportunities, which is very exciting.** At present, the pre-made dishes industry is still in a chaotic period with multiple forces eyeing it. We will wait and see who can successfully break through in this trillion-yuan market.
**Final Words**
After the pandemic, the overall market is recovering, but according to New Distribution's market research and visits, the industry recovery speed is still relatively moderate, and consumer confidence has not yet returned to pre-pandemic levels. Currently, consumption is severely polarized. On the one hand, consumers pursue healthier and higher-quality products; on the other hand, they tighten their wallets, which still poses huge challenges to the entire FMCG industry.
We see that companies like Uni-President, after the impact of the pandemic, have also refined strong internal skills in difficulties and challenges, becoming more adaptable to the environment and gaining deeper insights into their own operations.
From the second-half plans disclosed by Uni-President China, **under the value of pursuing delicious food, the business philosophy of deep channel cultivation, and the guidance of the "fast, stable, fresh" operating policy, its innovative products and exploration directions are very commendable and have a certain leading and promoting effect on the development of the food and beverage industry.**
In the first half of 2023, Uni-President China's performance showed a clear recovery trend with double growth, boosting industry confidence. We look forward to its subsequent business operations and its full-year 2023 performance, and New Distribution will continue to track it.


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