Chongqing Brewery (600132) Q2 2026 earnings summary

Executive summary

• Maintained high-quality development strategy amid intensified competition and evolving consumer demand in China's beer industry.

• Continued to optimize brand portfolio, expand channels, and enhance supply chain and operational efficiency.

• Launched multiple new products, expanded beyond beer, and accelerated innovation to meet diverse market needs.

Financial highlights

• Total assets at period end reached RMB 11.99 billion, up 12.21% from last year-end.

• Net assets attributable to shareholders rose 15.03% year-over-year.

• Operating revenue for H1 2026 was RMB 8.58 billion, down 2.98% year-over-year.

• Net profit attributable to shareholders was RMB 795.92 million, down 7.98% year-over-year.

• Operating cash flow was RMB 2.85 billion, down 1.77% year-over-year.

Outlook and guidance

• Will continue to drive innovation, optimize product structure, and deepen channel penetration.

• Focus on sustainable growth through ESG initiatives and talent development.