Anhui Gujing Distillery (000596) Q3 2024 earnings summary

Executive summary

• Operating revenue for Q3 2024 reached RMB 5.26 billion, up 13.36% year-over-year; Q1–Q3 revenue totaled RMB 19.07 billion, up 19.53% year-over-year.

• Net profit attributable to shareholders for Q3 2024 was RMB 1.17 billion, up 13.60% year-over-year; Q1–Q3 net profit was RMB 4.75 billion, up 24.49% year-over-year.

• Basic and diluted EPS for Q1–Q3 2024 were RMB 8.98, up 24.55% year-over-year.

Financial highlights

• Gross margin improved as net profit growth outpaced revenue growth for both Q3 and the nine-month period.

• Net cash generated from operating activities for Q1–Q3 2024 was RMB 5.34 billion, down 6.56% year-over-year.

• Total assets as of 30 September 2024 were RMB 37.85 billion, up from RMB 35.42 billion at year-end 2023.

• Equity attributable to shareholders increased to RMB 23.89 billion from RMB 21.53 billion at year-end 2023.

Outlook and guidance

• Increased contract liabilities by 38.14% indicate strong sales orders and positive demand outlook.