Anhui Kouzi Distillery (603589) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 1.38 billion, down 24.02% year-over-year from Q1 2025.

• Net profit attributable to shareholders was RMB 328.71 million, a 46.16% decrease year-over-year.

• The decline in profit was mainly due to a sharper drop in revenue than in operating expenses.

Financial highlights

• Operating income: RMB 1.38 billion, down 24.02% year-over-year.

• Net profit: RMB 328.71 million, down 46.16% year-over-year.

• Basic EPS: RMB 0.55, down from RMB 1.02 in Q1 2025.

• Operating cash flow: -RMB 135.17 million, improved from -RMB 245.74 million in Q1 2025.

• Total assets at quarter-end: RMB 12.96 billion, up 1.92% from year-end 2025.

Outlook and guidance

• Management maintained investment in operations and market despite revenue decline, impacting profitability.