On December 16, China Tobacco Hong Kong (06055) issued a positive profit forecast. Due to deepening its existing businesses, efforts to explore new businesses, and continuously improving comprehensive profit capabilities, the group expects that compared to 2023, the company's equity holders will see a profit increase of no less than 30% for the year ending December 31, 2024 (current year).
The announcement stated that the main reasons for the increase in the company's shareholders' profit share this year compared to the expected profit share in 2023 are as follows:
In terms of the import business of tobacco products, this year's gross profit margin of high-quality Brazilian tobacco products imported into port has increased compared to the same period last year. In addition, the overall sales unit price has also increased, leading to growth in the gross profit amount of this business.
In terms of cigarette exports, the group continues to optimize the cigarette business structure, increase the proportion of self-operated business, effectively increase the gross profit margin, and achieve a significant increase in the gross profit amount of this business.
In terms of operations in Brazil, the sales volume of premium cigarette products with higher selling prices has shown a significant increase this fiscal year. Additionally, the upward trend in sales prices of tobacco products in Brazil has led to a substantial growth in the gross profit amount of this business.
In terms of the export business of tobacco products, the group actively organizes appropriate sources of supply, optimizes pricing strategies, effectively increases gross profit margins, and achieves a significant increase in gross profit amount in this business.
In terms of the export business of new tobacco products, the group continues to optimize its operating model and constantly improve its gross profit margin, resulting in an increase in the gross profit amount of this business.
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