Anhui Yingjia Distillery Co (603198) investor relations material

Executive summary

• Q3 revenue was RMB 1.413bn, up 4.25% YoY; net income attributable to shareholders was RMB 413.7m, up 8.58%.

• 9M revenue reached RMB 4.829bn, up 6.93%; net income attributable to shareholders was RMB 1.575bn, up 4.25%.

• 9M operating cash flow increased 101.76% YoY to RMB 1.591bn, reflecting higher cash receipts from sales and lower cash paid for purchases.

Financial highlights

• 9M total profit was RMB 2.085bn, up 4.48% YoY; net profit was RMB 1.578bn versus RMB 1.515bn a year earlier.

• Adjusted for non-recurring items, 9M net income attributable to shareholders was RMB 1.532bn, up 3.94% YoY; reported net income was RMB 1.575bn.

• 9M operating profit was RMB 2.104bn versus RMB 2.002bn; total operating costs were RMB 2.818bn versus RMB 2.594bn.

Capital allocation and financing

• 9M investing cash flow was a net outflow of RMB 452.0m; purchases of investments were RMB 11.252bn and cash received from investment disposals was RMB 11.155bn.

• Capital expenditure on fixed assets, intangible assets and other long-term assets was RMB 427.8m, down from RMB 607.2m a year earlier.

• 9M cash dividends and interest paid totaled RMB 1.212bn; financing cash flow was a net outflow of RMB 1.145bn.