Wuliangye (000858) Q3 2024 earnings summary

Executive summary

• Operating revenue for Q3 2024 reached RMB 17.27 billion, up 1.39% year-over-year; Q1–Q3 revenue totaled RMB 67.92 billion, up 8.60% year-over-year.

• Net profit attributable to shareholders for Q3 2024 was RMB 5.87 billion, up 1.34% year-over-year; Q1–Q3 net profit was RMB 24.93 billion, up 9.19% year-over-year.

• Basic and diluted EPS for Q1–Q3 2024 were RMB 6.423, up 9.20% year-over-year.

Financial highlights

• Net cash generated from operating activities for Q1–Q3 2024 was RMB 29.79 billion, up 33.08% year-over-year, mainly due to increased revenue and collection of bank acceptance bills.

• Total assets as of September 30, 2024, were RMB 171.70 billion, up 3.79% from year-end 2023.

• Equity attributable to shareholders was RMB 136.36 billion, up 5.25% from year-end 2023.

• Gross profit for Q1–Q3 2024 was RMB 34.48 billion, up from RMB 31.63 billion in the prior year period.

Key financial ratios and metrics

• Weighted average return on equity as of September 30, 2024, was 18.33%, down 0.87 percentage points from year-end 2023.

• Gross margin for Q1–Q3 2024 was approximately 50.8%.