HEBEI YANGYUAN ZHIHUI BEVERAGE (603156) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was RMB 1.29 billion, down 18.79% year-over-year; net profit attributable to shareholders fell 47.26% to RMB 199 million.

• For the first nine months, revenue declined 7.81% to RMB 4.23 billion, and net profit dropped 4.69% to RMB 1.23 billion year-over-year.

• Declines attributed to lower sales and reduced investment income from associates.

Financial highlights

• Q3 basic EPS was RMB 0.1583, down 47% year-over-year; nine-month EPS was RMB 0.9726, down 4.55%.

• Gross margin for the nine months was 46.5%, with operating profit at RMB 1.57 billion.

• Net cash flow from operating activities for the nine months was negative RMB 119 million.

• Total assets at quarter-end were RMB 12.12 billion, down 24.85% from year-end 2023.

• Shareholders’ equity decreased 10.68% to RMB 9.87 billion.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 2.33%, down 1.36 percentage points year-over-year.

• Net margin for the nine months was 29.1%.

• Asset-liability ratio at quarter-end was 18.5%.