Wuliangye (000858) Q1 2025 earnings summary

Executive summary

• Operating revenue for Q1 2025 reached RMB 36.94 billion, up 6.05% year-over-year.

• Net profit attributable to shareholders was RMB 14.86 billion, a 5.80% increase year-over-year.

• Basic and diluted EPS both rose to RMB 3.828 from RMB 3.618 in Q1 2024.

• Net cash from operating activities surged to RMB 15.85 billion, up 2,970.31% year-over-year.

Financial highlights

• Gross profit for Q1 2025 was RMB 19.45 billion, up from RMB 18.81 billion in Q1 2024.

• Total assets increased to RMB 197.98 billion as of March 31, 2025, up 5.17% from December 31, 2024.

• Equity attributable to shareholders rose 11.15% to RMB 148.15 billion.

• Operating costs increased to RMB 16.52 billion, up from RMB 15.43 billion year-over-year.

Outlook and guidance

• Management highlighted a higher proportion of cash in customer payments and a lower base in the prior year, supporting strong cash flow.