Chongqing Brewery (600132) Q3 2025 earnings summary

Executive summary

• Achieved beer sales of 2.6681 million kiloliters in the first nine months, up 0.42% year-over-year.

• Revenue for the first three quarters reached RMB 13.06 billion, nearly flat year-over-year.

• Net profit attributable to shareholders for the first three quarters was RMB 1.24 billion, down 6.83% year-over-year.

Financial highlights

• Q3 revenue: RMB 4.22 billion, up 0.41% compared to the same quarter last year.

• Q3 net profit attributable to shareholders: RMB 375.95 million, down 12.71% year-over-year.

• First three quarters' operating cash flow: RMB 3.93 billion, up 13.49% year-over-year.

• Basic and diluted EPS for Q3: RMB 0.78, down 12.71% year-over-year.

• Basic and diluted EPS for first three quarters: RMB 2.56, down 6.83% year-over-year.

Outlook and guidance

• Consumer market remains in recovery with ongoing uncertainties.

• Intensified competition from national and niche beer brands expected to increase market pressure.