Summary by Futu AI
PUER LANCAANG ANCIENT TEA CO., LTD. (“LANCAANG ANCIENT TEA”) ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023, ACHIEVING REVENUES OF APPROXIMATELY RMB527.3 MILLION, AN INCREASE OF 13.9% YEAR-ON-YEAR; GROSS PROFIT OF RMB353.1 MILLION, A YEAR-ON-YEAR INCREASE OF 15.8%; PROFIT BEFORE INCOME TAX OF APPROXIMATELY RMB92.3 MILLION, a year-on-year increase of 8.1%; the Company's owners accounted for a profit of approximately RMB80.1 million, a year-on-year increase of 10.9%. Basic and diluted earnings per share were RMB1.26. The Board of Directors proposes to distribute a final dividend of RMB0.37 per share and proposes to add 5 new shares per 10 shares of the Company's existing shares to the shareholders in the Self-Reserve. LANCAG OLD TEA WAS LISTED ON THE MAIN BOARD OF THE HONG KONG STOCK EXCHANGE LIMITED ON 22 DECEMBER 2023, MARKING AN IMPORTANT STEP FORWARD FOR THE COMPANY IN THE INTERNATIONAL CAPITAL MARKETS. The company will leverage the proceeds from the listing to enhance its brand strength, optimize its marketing network, and continuously launch products that meet consumer needs.