Beijing Yanjing Brewery Co. (000729) Q4 2024 earnings summary

Executive summary

• Achieved record-breaking financial results in 2024 despite industry headwinds, with major economic indicators reaching historical highs.

• Beer sales volume reached 4.0044 million kiloliters, up 1.57% year-over-year; flagship product U8 sales surged 31.40%.

• Strategic focus on operational efficiency, cost reduction, and channel upgrades drove profitability.

Financial highlights

• Operating revenue was RMB 14.67 billion, up 3.20% year-over-year.

• Operating profit rose 56.96% to RMB 1.61 billion year-over-year.

• Net profit attributable to shareholders increased 63.74% to RMB 1.06 billion year-over-year.

• Net profit after non-recurring items grew 108.03% year-over-year.

• Basic EPS was RMB 0.375, up from RMB 0.229 year-over-year.

Outlook and guidance

• Continued focus on sustainable development and strategic transformation to build long-term competitive advantages.