Anhui Kouzi Distillery (603589) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 3.09% YoY to RMB 662.6m, while net income attributable to shareholders fell 28.41% to RMB 19.3m.

• 9M revenue declined 17.62% YoY to RMB 2.614bn and attributable net income fell 48.23% to RMB 384.2m.

Financial highlights

• 9M total costs and expenses were RMB 2.109bn, versus RMB 2.226bn a year earlier; total profit was RMB 511.0m, down 47.26% YoY.

• Adjusted 9M net income, excluding nonrecurring items, was RMB 379.0m, down 47.71% YoY; reported net income was RMB 384.2m.

• Q3 total profit increased 58.58% YoY to RMB 35.4m, while Q3 adjusted net income was RMB 19.0m, down 28.39%.

Key financial ratios and metrics

• 9M basic EPS was RMB 0.64, down 48.39% YoY; Q3 basic EPS was RMB 0.03, down 25.00%.

• 9M weighted average ROE was 3.67%, down 3.39 percentage points YoY; Q3 ROE was 0.21%, down 0.19 percentage points.

• Total assets were RMB 12.421bn at Sep. 30, 2026, down 2.30% from year-end 2025; shareholder equity was RMB 10.488bn, up 0.82%.