---
title: "Uni-President's 2024 H1 Results: Steady Progress and Continued Breakthroughs"
description: "Uni-President China Holdings Ltd. (\"Uni-President\", 00220.HK) reported 2024 interim results with revenue of approximately RMB 15.449 billion, up 6% year-on-year, and profit attributable to equity holders of approximately RMB 966 million, up 10.2%. The beverage business exceeded RMB 10 billion, growing 8.3%, driven by product innovation and upgrades, while the food business remained stable."
author: "高兴"
publisher: "New Distribution"
email: "zhaobo258@gmail.com"
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published: "2024-08-13"
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---

# Uni-President's 2024 H1 Results: Steady Progress and Continued Breakthroughs

> Uni-President China Holdings Ltd. ("Uni-President", 00220.HK) reported 2024 interim results with revenue of approximately RMB 15.449 billion, up 6% year-on-year, and profit attributable to equity holders of approximately RMB 966 million, up 10.2%. The beverage business exceeded RMB 10 billion, growing 8.3%, driven by product innovation and upgrades, while the food business remained stable.

Recently, Uni-President China Holdings Ltd. (hereinafter referred to as "Uni-President", 00220.HK) released its 2024 interim results announcement.
During the reporting period, the company achieved revenue of approximately RMB 15.449 billion, a year-on-year increase of 6%; profit attributable to equity holders for the period was approximately RMB 966 million, a year-on-year increase of 10.2%.
Image source: Uni-President China announcement (screenshot)
Among these, the beverage business continued to maintain a relatively fast growth trend, with revenue of approximately RMB 10.024 billion during the period, accounting for 64.9% of the Group's total revenue, up 8.3% year-on-year. The food business recorded revenue of RMB 4.947 billion, and the instant noodle business recorded revenue of RMB 4.858 billion.
It is worth noting that tea drinks and "Hai Zhi Yan" achieved double-digit revenue growth year-on-year; the instant noodle business continued to refine product strength, with "Tang Daren" and "Uni-President Braised Beef Noodles" fully upgraded, bringing consumers a more ultimate product experience, while "Qie Huang" also maintained double-digit growth momentum.
NielsenIQ monitoring data shows that in 2023, the overall sales of China's FMCG retail market across all channels fell slightly by 0.04% compared with 2022.
This shows that as an industry giant spanning both beverage and food tracks, the value of Uni-President's growth is evident. This is closely related to management's keen insight into the industry, the company's first-mover advantages, and product strategies.
But for Uni-President, **how to better leverage its own advantages in the future, consolidate the industry's fundamentals, and accelerate consumers' multi-scenario enjoyment mindset is both a challenge and an opportunity.**
**Beverage Business Breaks Through the 10 Billion Mark**
**Product Innovation and Upgrades Are Key**
Beverages are Uni-President's core business and its main source of revenue. In the first half of 2024, Uni-President's beverage business broke through the 10 billion mark. **This is a historic breakthrough and also an inevitability in Uni-President's development.**
In recent years, as consumers' demand for healthy beverages has grown, Uni-President has increased its R&D investment in sugar-free tea and other healthy beverages, which have been well received by the market.
For example, **"Hai Zhi Yan"** and **"Uni-President Assam Milk Tea"** are healthy and innovative products launched by Uni-President based on insights into young consumer groups.
Image source: Weibo @Uni-President Hai Zhi Yan
**"Hai Zhi Yan"** is an electrolyte beverage featuring ocean elements. It quickly became popular in the market due to its unique taste and distinct ocean style. Subsequently launched flavors such as peach and grape cater to different consumers' taste preferences.
In the first half of 2024, "Hai Zhi Yan" continuously enriched its scientific element tradition and the brand value of **"Replenish electrolytes, drink Hai Zhi Yan"**, actively laying out the electrolyte beverage market, optimizing products for different drinking scenarios, and enhancing growth momentum.
Image source: Weibo @Uni-President Assam Milk Tea
"Uni-President Assam Milk Tea" is a classic product launched for young consumers' love of milk tea. This milk tea is made from a blend of high-quality large-leaf black tea and fresh milk selected globally, retaining the aroma of tea while incorporating the richness of milk, with a balanced and layered taste.
In the first half of this year, the brand revenue of Uni-President Assam Milk Tea achieved steady growth, with both large-pack original milk tea and small, refined products seeing rapid revenue growth year-on-year, fully demonstrating the brand's strong competitiveness in the market.
At the same time, at a time when consumers are paying more attention to value for money, Uni-President continues to consolidate its fundamentals by providing competitive value and high-quality products. For example, Uni-President Green Tea continues to deepen its brand positioning as a value-for-money national tea.
Image source: Weibo @Uni-President Green Tea_Close to Nature
With the awakening of health awareness, the sugar-free tea market has been activated.
**Uni-President Green Tea** has laid out dual product lines of low-sugar and sugar-free, strengthening the recognition of **"Choose Uni-President for green tea"**;
Another example is **Xiao Ming Tong Xue**, whose brand concept was fully upgraded in the first half of 2024, aiming to create a **colorful fruit tea exclusively for classmates**;
At the same time, **Cha Guo Wang** applied fresh leaves to the green tea category for the first time, enhancing the freshness of the product, and strengthened the varietal flavor characteristics of Dongding Oolong through polyphenol concentration, striving to present consumers with a quality and experience of **"a sweet aftertaste like freshly brewed"**.
As a result, during the reporting period, Uni-President's beverage business recorded revenue of RMB 10.02 billion, an increase of 8.3% compared with the same period last year.
**Instant Noodle Business Continues to Refine Product Strength**
**Personalization and Diversification Achieve Breakthroughs**
In recent years, with the improvement of consumers' health awareness, there has been increasing attention to the nutritional value and ingredients of instant noodles. Some manufacturers have begun to launch healthier instant noodle products such as low-salt, low-fat, and high-fiber options to meet consumers' health needs.
**The instant noodle market is highly competitive. How to stand out in the red ocean is a common challenge for all instant noodle manufacturers, including Uni-President.**
Li Quncai, Deputy Director of NielsenIQ China Retail Industry Analysis and Insights, pointed out that under rational consumption concepts, the growth rate of the all-channel FMCG market has slowed, and sales scale has remained basically flat due to a lack of significant new increments, presenting a stock market competition pattern. Price-for-value demands have led consumers to shift to more price-competitive channels and homogeneous products.
In response, Uni-President believes that **in the first half of 2024, the economic trend was steady with progress, and residents' willingness to consume recovered and improved.** Consumers' consumption behavior showed trends of diversification, rationalization, and optimism, while placing greater emphasis on health, safety, and value for money.
Based on this, Uni-President's strategy in the instant noodle business is to take meeting consumer demands as its responsibility, adhere to product quality, continuously empower product strength, significantly enhance product power, and continuously innovate and iterate to adapt to consumers' personalized and diversified needs, **creating unique value for consumers while delivering a perfect consumption experience.**
Tang Daren, Qie Huang, and Uni-President Braised Beef Noodles have made significant contributions to the company.
**"Tang Daren"**, as the pioneer and leader of soup noodles, has continued to meticulously craft its products. For the first time in 16 years, it has undergone a comprehensive upgrade and relaunch, bringing consumers a more ultimate product experience.
Image source: Weibo @Tang Daren Club
**"Tang Daren" Limited Edition Seasonal Cherry Blossom Cup** pioneered temperature-changing packaging technology this year, successfully igniting the market; **"Qie Huang"** adheres to the brand positioning of "pioneer of tomato delicacy", continuously exploring the deliciousness of tomatoes, deeply embedding the brand positioning in consumers' minds, and steadily improving brand revenue.
As Uni-President's most classic product, **"Uni-President Braised Beef Noodles"** continued to focus on product strength in the first half of this year, achieving breakthrough innovation and completing a comprehensive upgrade. With the slogan "This braised flavor, Uni-President is awesome", it conveys the brand attitude of "Uni-President Braised Beef Noodles", enhances brand recognition, and gains consumer preference.
After a series of strategies, in the first half of 2024, Uni-President's food business recorded revenue of RMB 4.858 billion, an increase of 1.9% compared with the same period last year.
**Final Thoughts**
In the fiercely competitive beverage and food markets, Uni-President's ability to maintain its leading market position is inseparable from its strategic guidance: accurately positioning consumer groups, deeply cultivating the market, covering multiple consumption scenarios, and meeting consumers' increasingly diversified needs through product innovation and optimization.
These strategies also guide Uni-President toward more ambitious goals.


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