Jiangsu Yanghe Distillery (002304) Q3 2026 earnings summary

Executive summary

• Q3 revenue was ¥1.28bn, down 61.10% YoY, and attributable net income was a ¥770.9m loss; 9M revenue fell 34.65% and net income fell 53.94% YoY.

• 9M operating cash flow declined 88.04% YoY to ¥115.6m, mainly as cash collected from baijiu sales fell with market conditions.

Financial highlights

• 9M revenue totaled ¥11.82bn and attributable net income was ¥1.83bn; adjusted net income was ¥1.80bn, down 52.15% YoY.

• 9M operating costs fell 35.36% YoY, in line with lower product sales volume and revenue.

• Q3 non-recurring items were a net loss of ¥119.5m; 9M non-recurring items were a net gain of ¥33.2m.

Key financial ratios and metrics

• Q3 basic and diluted EPS were both -¥0.5117; 9M EPS was ¥1.2153, down 53.94% YoY.

• Weighted average return on equity was -1.51% for Q3 and 3.90% for 9M.

• Period-end total assets were ¥55.58bn, down 5.14% from year-end; parent-attributable equity was ¥46.41bn, down 0.83%.