Luzhou Laojiao (000568) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was ¥8.03 billion, down 14.19% year-over-year; net profit attributable to shareholders was ¥3.71 billion, down 19.25% year-over-year.

• Cash flow from operating activities increased 37.35% year-over-year to ¥4.54 billion.

• Total assets at quarter-end reached ¥66.17 billion, up 2.12% from year-end 2025.

Financial highlights

• Basic and diluted EPS were ¥2.52, down 19.49% year-over-year.

• Net profit excluding non-recurring items was ¥3.68 billion, down 19.84% year-over-year.

• Weighted average ROE was 7.32%, down 2.16 percentage points year-over-year.

• Non-recurring profit and loss items totaled ¥24.88 million.

Outlook and guidance

• Increase in accounts receivable due to overseas liquor sales contracts.

• Short-term borrowing increased by ¥3 billion to support production and operations.