On March 14th, Taikoo Corporation Limited released its 2023 annual performance report, which showed that Taikoo Coca Cola's total revenue was HKD 51.844 billion (approximately RMB 47.165 billion), with a revenue of HKD 24.725 billion (approximately RMB 22.493 billion) in mainland China.
According to the financial report, in January 2023, Coca Cola Pacific completed the restructuring of its non carbonated beverage business as a bottling company and took over six of its subsidiaries in mainland China. In September 2023, Taikoo Coca Cola completed the sale of its equity in Taikoo Coca Cola from the United States, generating non recurring profits and further strengthening its balance sheet. Meanwhile, Coca Cola continues to expand its business in Southeast Asia by acquiring bottling businesses in Vietnam and Cambodia.
The New Beijing News reporter noticed that the distribution contracts of Coca Cola and Budweiser in Anhui and Hubei have been signed, and the partnership will start on December 1, 2023. Both parties jointly provide customers and consumers with comprehensive products covering both alcoholic and non-alcoholic beverages to better meet market demand.
In addition, on September 20, 2023, Taikoo Coca Cola (Suzhou) Beverage Co., Ltd. broke ground with a total investment of 2 billion yuan, making it Taikoo Coca Cola's largest strategic investment in China to date. Coca Cola announced that it is expected that its total investment in China will exceed 12 billion yuan in the next 10 years. The Zhengzhou new factory with an investment of 900 million yuan, the Guangdong new factory with an investment of 1.2 billion yuan, and the Shenmei Kunshan new factory with an investment of 2 billion yuan have continuously broken the record of single investment by Coca Cola in China. The new factories will all be put into operation before the end of 2025, driving a significant increase in production capacity in the Chinese market.