Gelonghui, March 21, 丨 Wei Long Mei (09985.HK) announced that for the year ended December 31, 2023, the company's total revenue was RMB 4,871.7 million, up 5.2% year on year; gross profit was RMB 2,322.7 million, up 18.5% year on year; gross margin was 47.7%, up 5.4 percentage points year on year; profit for the year was RMB 880.4 million, up 481.9% year on year.
A final dividend of RMB 0.10 per common share and a special dividend of RMB 0.11 per common share is recommended; an interim dividend of RMB 0.12 per common share was already paid in October 2023.
This year, the Group actively gained insight into consumer needs, continued to broaden its product line in line with consumer preferences, and continued to innovate and launch new products. Following the launch of the new spicy spicy strip “Overbearing Panda” in September of this year, the group also launched a new konjac product, “Little Witch”, in October, and the new spicy crisps “Crispy Fire” in December, further enriching the Group's product matrix.
This year, the Group continued to strengthen online and offline omnichannel construction, comprehensively develop and serve all channels, and actively embrace the new opportunities brought by emerging offline snack sales channels and online content e-commerce channels. At the same time, the company is also actively expanding overseas markets.
The Group has also established long-term cooperative relationships with leading institutions in the domestic food science industry to jointly build an industrialization demonstration base for the Food Engineering Technology Research Center, committed to cultivating reserve talents, and continuously strengthening product and technology research and development advantages. As of December 31, 2023, the Group has established two applied R&D centers in Henan and Shanghai, and has a professional research team, specializing in food engineering, food safety and nutrition, polymer chemistry, biology, laboratory testing, etc. With diverse R&D activities, we continuously upgrade, innovate, and develop emerging technologies to meet changing consumer preferences and drive sustainable sales growth.
Looking ahead to the new year, the Group will continue to strengthen product innovation, enhance the core competitiveness of products, strengthen brand building, and continue to build a brand image loved by young consumers. At the same time, continuous changes in consumer demand are reshaping the channel pattern. The Group will continue to strengthen omnichannel construction, actively embrace the development dividends brought by emerging traffic channels, strengthen supply chain, digital capabilities and organizational team building, and continuously improve the company's operating efficiency, thus striving to create value for shareholders and customers.