Beijing Yanjing Brewery Co. (000729) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥8.05 billion, up 5.52% year-over-year; net profit attributable to shareholders rose 47.54% to ¥758 million, with adjusted net profit up 69.12%.

• Beer sales volume (including managed operations) was 2.3049 million kiloliters, with continued growth in flagship products and expansion in high-end segments.

• The company deepened reforms in production, market, and supply chain, driving operational efficiency and high-quality growth.

Financial highlights

• Operating income: ¥8.05 billion, up 5.52% year-over-year.

• Net profit attributable to shareholders: ¥758 million, up 47.54% year-over-year.

• Adjusted net profit (excluding non-recurring items): ¥740.8 million, up 69.12% year-over-year.

• Operating cash flow: ¥2.57 billion, up 40.32% year-over-year.

• Basic and diluted EPS: ¥0.2690, up 47.56% year-over-year.

• Total assets at period end: ¥25.08 billion, up 18.12% from year-end 2023.

• Net assets attributable to shareholders: ¥14.60 billion, up 5.48% from year-end 2023.

Outlook and guidance

• The company will focus on sustainable, high-quality growth, furthering digital transformation, product innovation, and high-end market expansion in H2 2024.