Jiangsu King's Luck Brewery Joint-Stock Co. (603369) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 was ¥6.95 billion, down 4.84% year-over-year; net profit attributable to shareholders was ¥2.23 billion, down 9.46% year-over-year.

• The company maintained strategic focus amid intensified industry competition, optimizing management, deepening market layout, and driving innovation.

• Core brands “Guo Yuan,” “Jinshiyuan,” and “Gao Gou” continued to strengthen market presence, with high-end and regional strategies showing results.

Financial highlights

• Operating income: ¥6.95 billion, down 4.84% year-over-year.

• Net profit attributable to shareholders: ¥2.23 billion, down 9.46% year-over-year.

• Operating cash flow: ¥1.08 billion, down 13.75% year-over-year.

• Basic and diluted EPS: ¥1.7875, down 9.46% year-over-year.

• Gross margin remained robust, with cost control and efficiency initiatives ongoing.

Outlook and guidance

• The company expects continued industry consolidation and competition, focusing on brand and quality as core drivers.

• Plans to further strengthen high-end product positioning, expand digital and channel innovation, and enhance ESG performance.