Beijing Yanjing Brewery Co. (000729) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue rose 4.34% YoY to ¥14.016B, while net profit attributable to shareholders increased 20.56% to ¥2.134B; profit growth outpaced revenue growth.

• Q3 U8 momentum accelerated, with quarterly sales growth of 38%; 9M volume rose 30% YoY and exceeded the prior full-year level.

Financial highlights

• Q3 revenue was ¥4.984B, up 2.25% YoY; net profit attributable to shareholders was ¥735.4M, up 10.15%.

• Q3 adjusted net profit, excluding non-recurring items, was ¥727.7M, up 12.21% YoY; 9M adjusted net profit was ¥2.108B, up 25.10%.

• 9M operating profit was ¥2.973B, up 23.70% YoY; total net profit was ¥2.515B versus ¥2.057B.

• 9M cost of revenue declined to ¥6.949B from ¥7.094B YoY; income tax expense rose to ¥457.7M from ¥346.2M as earnings increased.

Outlook and guidance

• Strategy centers on beer as the core business, with beverages and health foods as complementary businesses; priorities include management systems, channel development, supply-chain upgrades and digital transformation.

• U8 growth, stronger terminal coverage and market penetration support continued product-mix upgrading and profit growth.