NAIXUE Achieved Nearly 5.2 Billion Yuan in Revenue in 2023

Consumer Staples Author: EqualOcean News, Xiaoran Zhang Mar 28, 2024 05:14 PM (GMT+8)

NAIXUE showcases impressive performance in 2023, with plans for further expansion in store count and overseas markets.

Naixue's tea store

Recently, NAIXUE Holdings Limited announced its full-year financial results for 2023. According to the financial report, the company's revenue in 2023 reached 51.64 billion yuan, marking a year-on-year growth of approximately 20.3%. Adjusted net profit reached 20.9 million yuan in 2023. Equity shareholders' net profit amounted to 13.224 million yuan, with basic and diluted earnings per share of 0.01 yuan. During the reporting period, NAIXUE recorded non-current assets of 44.78 billion yuan, current assets of 30.62 billion yuan, and a net current asset of 17.11 billion yuan. Current liabilities stood at 13.51 billion yuan, non-current liabilities at 13.67 billion yuan, resulting in a net asset of 48.22 billion yuan. 

In terms of market performance, bottled beverages and the "NAIXUE House" business entered a rapid growth phase in 2023. Bottled beverages saw three consecutive years of growth, generating revenue of 2.67 billion yuan, while the tea retail business, including "NAIXUE House," achieved double-digit growth, surpassing 1 billion yuan in revenue. Regarding store count, as of the end of 2023, NAIXUE had 1,574 directly operated stores in 111 cities, with 506 new stores added just last year. The operating profit of stores in 2023 reached an impressive 829 million yuan, representing a year-on-year growth of approximately 76.3%, with a profit margin of 17.7%. While continuing to expand its presence in key cities such as first-tier and new first-tier cities, NAIXUE is also exploring new markets in medium and low-tier cities. In February of this year, the company announced a new franchise policy, reducing the investment cost per store to 580,000 yuan, alleviating the financial pressure on franchisees.

In addition to the domestic market, NAIXUE is also accelerating its overseas expansion. It is reported that by the end of 2023, the company opened its first store in Thailand, located in the upscale Emsphere mall in Bangkok, with monthly sales exceeding 1 million yuan. Currently, NAIXUE is also preparing to open its first stores in Southeast Asian countries such as Singapore, as well as in European and American countries including the UK and the US. Following this, the company plans to continue to ramp up its efforts in expanding its overseas business. Looking ahead, the company states its commitment to continuously providing consumers with high-quality products and services, ensuring sustainable and steady development.