HEBEI YANGYUAN ZHIHUI BEVERAGE (603156) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was ¥6.06 billion, down 1.69% year-over-year due to lower walnut milk sales volume.

• Net profit attributable to shareholders rose 17.35% year-over-year to ¥1.72 billion, with EPS at ¥1.36, up 17.59%.

• Gross margin improved to 46.52%, up 0.84 percentage points from last year.

• The company maintained its leadership in walnut protein beverages, expanded functional drink sales, and enhanced product innovation and marketing channels.

Financial highlights

• Operating income: ¥6.06 billion, down 1.69% year-over-year.

• Net profit attributable to shareholders: ¥1.72 billion, up 17.35% year-over-year.

• Operating cash flow: ¥1.43 billion, down 40.23% year-over-year.

• Gross margin: 46.52%, up 0.84 percentage points.

• Functional drink revenue grew 45.02% year-over-year.

Outlook and guidance

• The company plans to deepen R&D, optimize product structure, and expand digital and channel innovation.

• Focus remains on high-quality growth, product innovation, and digital transformation.

• The market is expected to remain competitive, with continued emphasis on health, quality, and multi-channel expansion.