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China Boton 2022 Annual Report: Revenue Rises to 3.8 Billion Yuan, Focus on Southeast Asia, Shift to
H cink2023-04-05Views 299Source 未知
Core tip: On March 31, China Boton Group (00336) released its 2022 annual report on the Hong Kong Stock Exchange. The report showed that its 2022 sales revenue was about 3.829 billion yuan (RMB, same below), compared with 2021
On March 31, Huabao International (00336) released its 2022 annual report on the Hong Kong Stock Exchange. The report shows that its sales revenue for 2022 was approximately 3.829 billion yuan (RMB, the same below), down from about 3.883 billion yuan in 2021, a decrease of 1.4%; the gross profit margin was 49.0%, down from 59.2% in 2021, a decrease of 10.2 percentage points.According to the introduction, Huabao International is a leading company in the tobacco flavor industry, with its main business focusing on flavor and food ingredients, tobacco raw materials, fragrance materials, and seasonings.The annual report indicates that in 2022, its flavor and food ingredient business generated sales revenue of approximately 1.877 billion yuan, a decrease of 2.6%, accounting for 49% of the group's total revenue.Huabao International stated that it focuses on the research and development of new tobacco flavor products and has developed various types of heated non-combustion tobacco flavors; it has established the "Asia-Pacific Huabao" R&D center in Singapore and believes that Asia will be the market with the greatest growth potential in the future, starting with Southeast Asia to expand into international markets. The annual report shows that in 2022, its sales revenue from tobacco raw materials was 454 million yuan, a decrease of 19.7%, accounting for 11.9% of total revenue. The decline in revenue was attributed to a decrease in market demand for traditional reconstituted tobacco leaves and a drop in the price of tobacco capsules.Huabao International stated that to reverse the performance of its reconstituted tobacco leaf business, it will focus on the specialized production of heated non-combustion reconstituted tobacco leaves and expand into overseas markets. It completed the construction of a factory in Indonesia in 2022, which mainly produces heated non-combustion reconstituted tobacco leaves and supplies them to international tobacco companies.
