HEBEI YANGYUAN ZHIHUI BEVERAGE (603156) Q3 2025 earnings summary

Executive summary

• Net profit attributable to shareholders for Q3 rose 88.20% year-over-year to ¥375.16 million, with total revenue up 11.88% to ¥1.44 billion for the quarter.

• For the first nine months, revenue declined 7.64% year-over-year to ¥3.91 billion, and net profit attributable to shareholders fell 8.95% to ¥1.12 billion.

• Significant improvement in Q3 profitability driven by reduced losses from associates and increased sales.

Financial highlights

• Q3 basic EPS was ¥0.2976, up 88.00% year-over-year; nine-month EPS was ¥0.8879, down 8.71%.

• Gross margin for the first nine months was 44.6%, compared to 46.5% a year earlier.

• Net cash flow from operating activities for the first nine months was negative ¥165 million, compared to negative ¥119 million last year.

• Total assets at quarter-end were ¥11.32 billion, down 18.13% from year-end 2024.

Outlook and guidance

• Management is actively addressing overdue receivables from Zhongji Investment, with ongoing negotiations and interest accrual on delayed payments.