Recently, China Tobacco Hong Kong (06055.HK) announced its financial results for the year ending in 2023. The company reported a revenue of 11.836 billion Hong Kong dollars, representing a 42% year-on-year increase. The gross profit was 1.088 billion Hong Kong dollars, up 35% from the previous year. The net profit attributable to shareholders reached 599 million Hong Kong dollars, showing a 60% year-on-year increase.
China Tobacco Hong Kong announced that the overall financial performance of the group has experienced growth, mainly driven by the increase in import and export businesses of tobacco products, as well as growth in operations in Brazil.
In this period, the export quantity of cigarettes was 2,803,867 thousand units, an increase of 2,420,560 thousand units year-on-year, with a growth rate of 631%. Operating income was 1,208.7 million Hong Kong dollars, an increase of 1,084.9 million Hong Kong dollars year-on-year, with a growth rate of 876%. Gross profit was 164.0 million Hong Kong dollars, an increase of 151.1 million Hong Kong dollars year-on-year, with a growth rate of 1,167%.
The export quantity of new tobacco products reached 677,310 thousand units, an increase of 174,920 thousand units compared to the previous year, marking a growth of 35%. The operating revenue was 130.0 million Hong Kong dollars, an increase of 19.8 million Hong Kong dollars compared to the previous year, showing a growth of 18%. The gross profit was 5.7 million Hong Kong dollars, an increase of 2.5 million Hong Kong dollars compared to the previous year, representing a growth of 80%.
China Tobacco Brazil's partially owned subsidiary, CBT, exported a total of 32,396 tons of tobacco products to regions outside of China, representing a year-on-year increase of 3,149 tons or 11%. The company's revenue reached 766.3 million Hong Kong dollars, with a year-on-year increase of 223.1 million Hong Kong dollars or 41%. The gross profit was 141.0 million Hong Kong dollars, up by 27.5 million Hong Kong dollars or 24% compared to the previous year.
China Tobacco Hong Kong stated that in 2024, it will continue to promote product research and development upgrades, enhance brand cultivation, expand into emerging markets, and increase the sales volume of new tobacco products.
We welcome news tips, article submissions, interview requests, or comments on this piece.
Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn
Notice
1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.
2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.
3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.
4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.
Copyright
This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.
For copyright-related inquiries, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.
We welcome any corrections or feedback. Please contact us at: info@2firsts.com
