Jiangsu King's Luck Brewery Joint-Stock Co. (603369) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥7.30 billion, up 22.36% year-over-year; net profit attributable to shareholders was ¥2.46 billion, up 20.08% year-over-year.

• Gross margin remained robust, and cash flow from operations increased 56.09% year-over-year to ¥1.25 billion.

• The company maintained its leading position in the domestic liquor industry, ranking seventh in both revenue and net profit among 20 listed peers in Q1 2024.

• No interim dividend or capital increase from reserves was proposed for the half-year period.

Financial highlights

• Operating income: ¥7.30 billion, up 22.36% year-over-year; operating cost: ¥1.91 billion, up 25.63%.

• Net profit attributable to shareholders: ¥2.46 billion, up 20.08% year-over-year.

• Basic and diluted EPS: ¥1.9742, up 20.08% year-over-year.

• Cash flow from operating activities: ¥1.25 billion, up 56.09% year-over-year.

• Total assets at period end: ¥20.94 billion; shareholders’ equity: ¥14.50 billion.

Outlook and guidance

• The company is focused on high-quality growth, with continued emphasis on brand building, product innovation, and digital transformation.

• Strategic initiatives include deepening market penetration in Jiangsu and expanding presence in surrounding provinces.

• Talent development and performance management reforms are being advanced to support long-term competitiveness.