統一超商 (2912 TT)

Company Overview

統一超商 (President Chain Store Corporation) is a leading retail company.

Mid-to-Long Term Goals:

• Continuously Evolving President Chain Store: Consolidate leadership, the most complete retail ecosystem.
• Four Pillars:
  • Store Quality and Quantity Advancement: Actively expand stores, enhance store quality; multiple store operations, stable franchising.
  • Quality Lifestyle Platform: Differentiated structure, continuous innovation; grasp trends, diversified services.
  • Strengthen Digital Layout: OMO integration, deep member engagement; digital media, create new revenue streams.
  • Regional Economic Development: Adapt to trends, continuous growth; focus on core, seize opportunities.
• Foundational Support: Supply chain integration, future activation; AI application, system enhancement; talent system, keep pace with the times.

Financial Highlights

Recent Revenue & Profit Performance (Unit: NT$ Billion)

Recent Operating Results (Consolidated) (Unit: NT$ Billion)

• 2025 Consolidated Revenue Growth: 3.8%, mainly contributed by Taiwan 7-ELEVEN, Cosmed, Starbucks, and other businesses.
• Gross Profit and Gross Margin: Both grew due to optimized product structure and economies of scale.
• Consolidated Operating Profit: Slightly declined due to increased long-term investments in store expansion, logistics, and digital transformation.
• Net Income: Declined by 3.0%; if one-time impacts from the disposal gain of Shandong Ginza and reversal of income tax expenses were excluded, it would have grown by approximately 1% year-over-year.

Recent Operating Results (Standalone) (Unit: NT$ Billion)

• Taiwan 7-ELEVEN: Continued to expand stores and drove PSD-Sales growth through fresh food, coffee, and beverages, leading to a 4.4% revenue growth.
• Gross Profit: Revenue growth led to an increase in gross profit, and operating profit and pre-tax net profit continued to grow.
• Net Income: Declined by 2.8% due to the recognition of disposal gains from Shandong Ginza and reversal of income tax expenses in the prior period; if one-time impacts were excluded, it would have grown by approximately 1% year-over-year.

Return on Investment

• Note: ROE and ROA are affected by continuous store expansion, digital layout investments, and long-term investments in recent years. The company's undistributed earnings have increased to support development, while total asset size has also increased.

Cash Dividends (Unit: NT$)

• Note: The cash dividend amount for 2025 has been approved by the Board of Directors but is yet to be approved by the shareholders' meeting.

Business Segments

2025 Segment Information (Consolidated)

Revenue Contribution:

• 7-ELEVEN Taiwan: 62%
• Retail: 30%
• Logistics: 7%
• Others, Adjustment and elimination: 1%

Pre-tax Net Income Contribution:

• 7-ELEVEN Taiwan: 49%
• Retail: 32%
• Logistics: 7%
• Others, Adjustment and elimination: 12%

Segment Definitions:

• Retail: 菲律賓7-11 (7-ELEVEN Philippines), 康是美(統一生活) (Cosmed (President Drugstore)), 宅急便(統一速達) (TA-Q-BIN (President Transnet)), 博客來 (Books.com.tw), 統一精工 (President Energy), etc.
• Logistics: 捷盟行銷 (President Transnet), 統昶行銷 (President Cold Chain), 大智通文化行銷 (President Smart Logistics), etc.
• Others: 中國事業群 (China Business Group), 餐飲事業群(如星巴克) (Food & Beverage Business Group (e.g., Starbucks)), and 支援事業群 (Support Business Group).

Products & Technologies

Aggressive Store Expansion | Lifestyle, Infinite Possibilities

• Focus: Both quality and quantity, optimize single-store investment & stable profitability.
• Store Concepts:
  • IP Flagship Store: 7-Eleven X 三麗鷗 (Sanrio) (Liyan Store)
  • Brand Collaboration: 7-Eleven X LOFT (Dream Mall 2nd Store)
  • Entertainment Experience: 歡樂挖寶店 (Happy Treasure Hunt Store) (Tsing Hua Store)
  • Fresh Produce: 7-Fresh (Qiaogang Store)

Lifestyle Food Platform | Grasp Trends, Taste Upgrade

• Fresh Food Sales:
  • 2003: NT$10 billion
  • 2012: NT$20 billion
  • 2020: NT$30 billion
  • 2023: NT$40 billion
  • 2025: NT$50 billion
• Fresh Food Sales Proportion:
  • 2003: 14-17%
  • 2020: 20-24%
  • 2025: >25%
• Consumption Trends:
  • Premium (高價值): Ingredient upgrade, create high-end deliciousness.
    • Example: 星級饗宴 (STAR RATED CUISINE) (e.g., 加賀屋 (Kagaya) collaboration), 御料小館 (Royal Kitchen).
  • Good Value (高CP值): Portion upgrade, satisfy consumption needs.
    • Example: 3XL重量級饗宴 (3XL Heavyweight Feast).
  • Trending (消費趨勢): Health upgrade, provide reassuring choices.
    • Example: Simple-Fit (生活Simple Fit你我 (Simple Fit for You and Me)).

Lifestyle Taste Platform | Diverse Choices, Shared Taste

• CITY Series Evolution:
  • 2004: Introduced CITY CAFE.
    • 2015: Revenue reached NT$10 billion.
    • 2025: Revenue nearly NT$20 billion.
  • CITY CAFE®: Diverse pricing (specialty beans), enhance value; innovative flavors, attract young customers.
  • CITY PRIMA®: Brand collaborations, increase traffic; upgrade gift strategies, optimize structure.
  • CITY TEA®: Tea beverages: second growth curve; freshly brewed cups, distinctive teas; innovative Tea Bar, customized services (bubble tea shop-in-shop).

Lifestyle Service Platform | Quality Services, Seize Business Opportunities

• Proprietary Platforms:
  • 賣貨便 (MyStore): Ranked No.1 in parcel pickup/delivery volume, double-digit growth rate.
  • iOPEN MALL (iOPEN Mall): Interface optimization & service extension.
• E-commerce Partnerships:
  • Expand cross-border e-commerce services to US/Japan/Korea/China and other regions.
  • Deepening group alliance cooperation with Yahoo/Ruten, etc.
• Market Opportunities:
  • New services and structure: Migrant worker remittances, new vendor collection services.
  • Expand ticketing market.
  • Subscription-based member exclusive.
• Key Data Points:
  • Proportion of parcels on proprietary platforms: 9% (2019) to >40% (2025).
  • E-Service commission revenue: 1.3X growth (2025 vs 2019).

Digital Platform | Member Upgrade, Points Cross-border

• Overall Goal: Grasp consumption trends, enhance customer loyalty, build a complete retail ecosystem.
• OPENPOINT:
  • Internal and external partners continuously joining.
  • 2025 points issued + redeemed ≈ NT$4 billion.
  • OPENPOINT points scale (accumulated + redeemed): +10% growth to ≈NT$4 billion in 2025.
• Member Management:
  • Member count exceeded 19 million.
  • Revenue contribution 55%.
  • OP Member Contribution: +5% growth to >55% in 2025.
• uniopen Co-branded Credit Card:
  • Cumulative card issuance exceeded target.
  • Complete data asset platform.
  • Accelerate expansion into external domains to form a virtuous cycle.
  • 11% high cashback, effectively expanding the points economy.

AI Application | Digital Transformation, Optimize Operations

• Customers:
  • X-9 The 9th Unmanned Store: Automated pickup micro-warehouse, time-saving and labor-saving.
  • Digital Marketing: Pickup vouchers, redemption vouchers, pre-order vouchers, other vouchers; consumer data analysis, automated marketing, etc.
• Stores:
  • Management Digitalization (implemented in all stores): Labor-saving operations, improve accuracy.
  • AI Energy-Saving Monitoring System (implementing): Real-time energy consumption tracking, automatic adjustment of energy-saving settings.
• Employees:
  • Hybrid POS Checkout (implemented in all stores): Switch to self-service mode, alleviate queue congestion.
  • AI Chatbot (implementing): Database integration, improve operational efficiency.

Logistics Park | Prudent Investment, Future Activation

• Logistics Partners: 捷盟 (President Transnet), 統昶 (President Cold Chain), 大智通 (President Smart Logistics), 速達 (TA-Q-BIN).
• Internal and External Capacity Expansion: Support group's online and offline development; expand external logistics and warehousing demand.
• Automated Equipment: Reduce industrial injuries, improve work efficiency; decrease proportion of labor costs.
• Operational Efficiency Improvement: Integrate supply chain warehouse management; storage area usable space +300%.
• Green Logistics Construction: Solar PV, transportation integration; solar investment reduces electricity cost per kWh.
• Logistics Park Locations & Status:
  • Northern: Aerotropolis: Expected to be operational in 2029.
  • Central: Taichung Port: Phase I expected to be operational in 2026, Phase II expected to be operational in 2029.
  • Southern: Xinshi: Operational in 2025.
    • Internal capacity expanded by 1.5-2 times.
    • Already undertaking 3PL business externally.
    • Effectively reduces labor cost proportion.

Clients & Markets

7-ELEVEN Philippines | Growth Engine, Exciting Future

• Aggressive Store Expansion:
  • 2025: 4,491 stores.
  • Mid-term target: 7,000 stores.
  • Firmly hold the No.1 market share, continuously expand leading advantage.
  • Accelerate entry into VisMin region, coupled with diversified commercial district expansion strategies.
• Deepen Differentiated Products:
  • Diversify product structure, expand number of stores operated.
  • Including fresh food (Crunch Time/21TO GO), coffee (CITY CAFE/PRIMA), and daily necessities.
• Expand Service Scope:
  • CLiQQ member tiered management.
  • Extend E-Service parcel pickup/delivery (B2C/C2C).
  • Non-cash payment introduced to all stores by 2026.

ESG / Sustainability

Sustainable Operating Results | Integrate Concepts, Continuous Evolution

• ESG Framework:
  • ESG linked to senior executive KPIs.
  • Functional committee organizational adjustment, all members are independent directors.
  • 2025 DJBICI Dow Jones Sustainability Indices TOP4.
• ESG Information:
  • ESG information collection system launched, scope expanded to subsidiaries.
  • Strengthen issues such as healthy nutritional products, biodiversity.
  • 2025 MSCI ESG Rating A.
• IFRS S1 S2:
  • Identify group's significant sustainability topics.
  • Analyze potential qualitative and financial impacts.
  • 2025 CDP Carbon Disclosure Project B.
• Focus Areas:
  • Gradually expand renewable energy use.
  • Deepen sustainable supply chain management.
  • 2025 Corporate Governance Evaluation 6-20%.

Outlook & Strategy

2026 Growth Targets

• Taiwan 7-ELEVEN Store Count: +150~200 as of Dec. 31, 2026.
• Revenue & PSD-sales: Maintain growth momentum YoY.
• Core Business Profit: Steady growth YoY.

Stable Franchising | Multiple Store Operations, Enhance Efficiency

• Maturity of Franchising System: Proportion of franchisees operating multiple stores: 50% (Target).
• Scale of Multiple Store Operations: Average 2-3 stores/person; Proportion of multiple stores: >70% (Target).
• Advantages of Multiple Store Operations:
  • Higher efficiency and flexibility.
  • Drive overall profitability improvement.
• Indicators (Single Store Franchise vs. Multiple Store Franchise):
  • Manpower allocation/store: Higher for single, Lower↓ for multiple.
  • S&M expenses %: Higher for single, Lower↓ for multiple.
  • Operational flexibility: General for single, Higher↑ for multiple.
  • Cumulative profit: 1X for single, 1.5X~2X (total for two stores) for multiple.