Jiangsu King's Luck Brewery Joint-Stock Co. (603369) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 2.64 billion, up 10.12% year-over-year; nine-month revenue was RMB 9.94 billion, up 18.86% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 624 million, up 6.61% year-over-year; nine-month net profit was RMB 3.09 billion, up 17.08% year-over-year.

• Basic and diluted EPS for the first nine months was RMB 2.4750, up 17.08% year-over-year.

Financial highlights

• Gross margin for the first nine months improved, with operating profit reaching RMB 4.12 billion, up from RMB 3.52 billion year-over-year.

• Net cash flow from operating activities for the nine months was RMB 2.23 billion, up 12.55% year-over-year.

• Total assets at quarter-end were RMB 22.39 billion, up 3.5% from year-end 2023.

• Shareholders’ equity increased 13.88% to RMB 15.13 billion compared to year-end 2023.

Key financial ratios and metrics

• Weighted average ROE for the nine months was 21.40%, down 0.41 percentage points year-over-year.

• Gross margin and net margin remained robust, with basic EPS at RMB 2.4750 for the nine months.