Jiangsu Yanghe Distillery ( 002304) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 11.07 billion, down 31.92% year-over-year due to weaker baijiu market demand and lower sales volume.

• Net profit attributable to shareholders fell 39.93% year-over-year to RMB 3.64 billion.

• Operating cash flow decreased 47.72% year-over-year to RMB 2.54 billion.

Financial highlights

• Revenue: RMB 11.07 billion (down 31.92% YoY); Net profit: RMB 3.64 billion (down 39.93% YoY).

• Basic and diluted EPS: RMB 2.4144 (down 39.93% YoY).

• Gross margin and operating margin not explicitly disclosed.

• Total assets at quarter-end: RMB 64.13 billion (down 4.77% from year-end 2024).

• Shareholders’ equity: RMB 51.72 billion (up 0.25% from year-end 2024).

Key financial ratios and metrics

• Weighted average ROE: 6.81% (down 4.21 percentage points YoY).

• Operating cash flow margin declined sharply due to lower sales.