Anhui Yingjia Distillery Co (603198) H2 2024 earnings summary

Executive summary

• Revenue reached ¥7.34 billion, up 8.46% year-over-year; net profit attributable to shareholders was ¥2.59 billion, up 13.45% year-over-year.

• Gross margin improved to 73.94%, an increase of 2.92 percentage points year-over-year.

• Proposed cash dividend of ¥1.5 per share (pre-tax), totaling ¥1.2 billion, representing 46.35% of net profit.

• Audit opinion was standard unqualified; no material legal, compliance, or governance issues reported.

Financial highlights

• Operating income: ¥7.34 billion, up 8.46% year-over-year.

• Net profit attributable to shareholders: ¥2.59 billion, up 13.45% year-over-year.

• Basic and diluted EPS: ¥3.24, up 13.68% year-over-year.

• Net assets attributable to shareholders: ¥9.84 billion, up 15.77% year-over-year.

• Operating cash flow: ¥1.91 billion, down 12.89% year-over-year, mainly due to increased tax payments.

Outlook and guidance

• Focus on strengthening the ecological baijiu brand, product upgrades, and expanding high-end product sales.

• Strategic emphasis on core markets (Anhui, Jiangsu, Shanghai) and expansion into central and northern China.

• 2025 positioned as a key year for resilience and deepening the “Cultural Yingjia” strategy.