According to Zhitong Finance App, Lancang Ancient Tea (06911) announced annual results for the year ended December 31, 2023, with revenue of about 527 million yuan (RMB, same below), up 13.9% year on year; profit attributable to company owners of 8.08 million yuan, up 10.9% year on year; earnings per share 1.26 yuan; proposed to distribute a year-end dividend of 0.37 yuan per share (tax included) to shareholders for every 10 shares of the company's existing shares.

With strict quality requirements throughout the entire industry chain, the company is one of the few tea companies in China with experience in raw material management, product development, production, end customer access, and member service. The company believes that this is the reason why the company can stand out from the competition. After 20 years of operation, the company has become one of the most famous tea brands in China. The company is a national key leading enterprise in agricultural industrialization recognized by the Ministry of Agriculture and Rural Affairs of China, selected by several provincial government departments including the Yunnan Provincial Department of Agriculture and Rural Affairs as one of the top ten green food enterprises in Yunnan Province, and has received awards such as the “2023 Key Tea Enterprise” from the China Tea Distribution Association.

In fiscal year 2023, the Group achieved double-digit growth in both revenue and profit, thanks to the continuous development of the tea industry and rising consumer demand, as well as the company's steady but innovative product capabilities and timely response channel strategy. In the 2023 fiscal year, the company achieved operating income of 527 million yuan and net profit of 78.5 million yuan, an increase of 13.9% and 11.4%, respectively, compared with the 2022 fiscal year. The main reason for the increase in revenue was the increase in sales of the brand's 1966 series products by 62.1 million yuan.