Master Kong Holdings (00322) announced the results for the year ended December 31, 2023, and the group received revenue during the period...
According to Zhitong Finance App, Master Kong Holdings (00322) announced the results for the year ended December 31, 2023. The group achieved revenue of RMB 80.418 billion (RMB, same below), up 2.16% year on year; profit attributable to shareholders of RMB 3.117 billion, up 18.43% year on year; basic profit per share of 55.33 points; proposed final dividend of 27.66 points per share and special final dividend of 27.66 points per share.
According to the announcement, the instant noodle business revenue for the full year of 2023 was 28.793 billion yuan, a year-on-year decline of 2.84%, accounting for 35.80% of the Group's total revenue. During the period, the gross margin of instant noodles increased 3.05 percentage points to 27.00% year-on-year due to lower raw material prices and favorable sales prices. Driven by a year-on-year increase in gross margin, the profit attributable to company shareholders in the instant noodle business increased by 46.10% year-on-year to 2.08 billion yuan in 2023.
The overall revenue of the beverage business for the full year of 2023 was RMB 50.939 billion, up 5.39% year on year, accounting for 63.34% of the Group's total revenue. During the period, the gross margin of beverages increased by 0.15 percentage points to 32.10% year-on-year due to lower raw material prices and changes in composition. Due to the year-on-year increase in the distribution cost ratio, the profit attributable to the company's shareholders in the beverage business fell 8.57% year on year to 1,260 billion yuan for the full year of 2023.
The Group actively promotes the digital transformation of finance, deepens internal control systems, establishes risk prevention and control mechanisms adapted to the digital environment through the construction of financial sharing service centers, and gradually promotes financial integration to achieve business-finance integration to strongly support the strategic implementation and sustainable development of enterprises; at the same time, it pursues a steady cash strategy to control capital expenditure and effectively promote asset revitalization, which is expected to bring stable net cash inflows.
During the year, the Group's net cash inflow from operating activities was $5.495 billion, and the net cash outflow from investment activities was $3,724 million, including cash income from asset activation of $213 million. The net outflow of cash used in financing activities was $7.319 billion, and the net decrease in cash and cash equivalents (including long-term term deposits) was $5.150 billion.