China Tobacco Hong Kong's 2022 Annual Report

Mar.13.2023
China Tobacco Hong Kong's 2022 Annual Report
China Tobacco Hong Kong's net profit falls 46.66% while new tobacco business sees 10% growth in 2022 fiscal year.

On March 9th, China Tobacco International HK Co. Ltd. released its annual report for the 2022 fiscal year on the Hong Kong stock exchange. According to the report, the company's net profit in 2022 decreased by 46.66% compared to the previous year. However, its new tobacco business saw a 10% increase in sales, and the company's operations in Brazil saw impressive growth.


China Tobacco Hong Kong reported a total operating income of HKD 8.324 billion (approximately RMB 7.3 billion) for the fiscal year 2022, showing a year-on-year growth of 3.23%. However, the net profit attributable to the parent company was HKD 375 million (approximately RMB 330 million), marking a significant decline of 46.66% from the previous year. The basic earnings per share were HKD 0.54.


China Tobacco Hong Kong has explained that the decline in performance is mainly due to weak sales in local cigarette markets in Southeast Asia, caused by increased tobacco taxes and the impact of the pandemic, as well as a weakened demand for tobacco leaves from customers. Additionally, there has been a reduction in suitable tobacco resources available for exportation from China.


Image source: Hong Kong Stock Exchange.


CNTC Hong Kong's new tobacco product exports increased by 47,620 thousand units YoY, accounting for a growth rate of 10%, with total export quantities being 502,390 thousand units. Revenue also increased by HKD 86 million (approximately CNY 75.3 million), resulting in a total revenue of HKD 110 million (approximately CNY 96.33 million), reflecting an 8% increase YoY. However, gross profit decreased by HKD 3.2 million (approximately CNY 2.8 million), representing an 8% decline YoY.


China Tobacco Hong Kong has attributed the growth in sales and revenue of its new tobacco products to its expansion into new markets such as the Middle East, Western Europe, and Eastern Europe. The company has also increased efforts to upgrade its products in response to changing market demands. However, the decrease in profit margin is due to increased investment in marketing resources aimed at gaining more market share.


It is worth mentioning that according to China National Tobacco Corporation Hong Kong's 2022 annual report, its business in Brazil has also grown significantly. Its non-wholly owned subsidiary, CBT, under China National Tobacco Corporation Brazil, exported 29,247 tons of tobacco products to regions outside of China, a year-on-year increase of 33%; revenue was 543 million yuan, a year-on-year increase of 73%; and gross profit was 123 million yuan, a year-on-year increase of 139%.


According to an announcement, China National Tobacco Corporation Hong Kong (CNTC Hong Kong) plans to seize the opportunity presented by the adjustment of China's domestic epidemic prevention policies to continue implementing a dual-wheel development model based on both outward and inward growth. The company will focus on promoting the development of new tobacco product export business and a recovery of cigarette export business.


Reference:


International Chinese cigarette company, limited (Hong Kong) has released their annual report as of December 31, 2022.


This document has been generated through artificial intelligence translation and is provided solely for the purposes of industry discourse and learning. Please note that the intellectual property rights of the content belong to the original media source or author. Owing to certain limitations in the translation process, there may be discrepancies between the translated text and the original content. We recommend referring to the original source for complete accuracy. In case of any inaccuracies, we invite you to reach out to us with corrections. If you believe any content has infringed upon your rights, please contact us immediately for its removal.

Russia's State Duma to Ban E-Cigarette Sales Pending Legislative Proposal
Russia's State Duma to Ban E-Cigarette Sales Pending Legislative Proposal
Russia’s State Duma is prepared to support a full ban on e-cigarettes if the proposal comes from the government. Industry and Trade Minister Anton Alikhanov has voiced support, calling for a complete ban. Lawmakers have already drafted a bill targeting the circulation and production of e-cigarettes and related equipment.
Jun.04 by 2FIRSTS.ai
Singapore May Tighten E-Cigarette Rules as Surge Detected in Products Laced with Anesthetic Etomidate
Singapore May Tighten E-Cigarette Rules as Surge Detected in Products Laced with Anesthetic Etomidate
Singapore plans to tighten vaping laws after detecting 28 etomidate-laced e-cigarette cases in H1 2025—nearly triple 2024’s total. Despite the 2018 ban, S$41 million worth of products were seized from Jan 2024 to Mar 2025, and a UN report shows rising etomidate e-cigarette use across East and Southeast Asia.
Jul.15 by 2FIRSTS.ai
BAT CEO Posts on Social Media: glo Hilo Is the Company's Most Groundbreaking Heated Tobacco Product to Date
BAT CEO Posts on Social Media: glo Hilo Is the Company's Most Groundbreaking Heated Tobacco Product to Date
BAT CEO Tadeu Marroco posted on social media, calling glo Hilo the company’s most groundbreaking heated tobacco product to date. He stated that it marks a significant step forward in BAT’s accelerated push toward achieving a smoke-free future by 2035.
Jun.26 by 2FIRSTS.ai
Swedish Study: Nicotine Pouches Help Boost Smoking Cessation Among Women by 200%, Advancing Smoke-Free Goals
Swedish Study: Nicotine Pouches Help Boost Smoking Cessation Among Women by 200%, Advancing Smoke-Free Goals
A Swedish study finds that since 2016, oral nicotine pouches have helped cut smoking rates, with women quitting nearly 200% more. Sweden’s smoking rate is now 5.3%, close to the smoke-free target of 5%. Experts say nicotine pouches are safe, easy, and effective for quitting.
Jun.19 by 2FIRSTS.ai
Product | GEEKBAR Launches Slimor E-cigarette in U.S. Featuring 32,000 Puffs and 0.89-Inch Round Display
Product | GEEKBAR Launches Slimor E-cigarette in U.S. Featuring 32,000 Puffs and 0.89-Inch Round Display
GEEKBAR has launched its latest device, the Slimor 32K, in the U.S. market. Designed for heavy use, the Slimor offers up to 32,000 puffs and features a 0.89-inch round display showing both e-liquid and battery levels. The device comes primarily in fruit flavors and is priced at $17.99.
May.26 by 2FIRSTS.ai
Photo Collection of New Products | Innokin, Aspire, ALD and Others Launch New - style Hookah Devices
Photo Collection of New Products | Innokin, Aspire, ALD and Others Launch New - style Hookah Devices
At the exhibition site, many brands showcased a variety of new-style hookah products in different forms.
Jun.23