Shanxi Xinghuacun Fen Wine Factory (600809) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 8.61 billion, up 11.35% year-over-year; YTD revenue was RMB 31.36 billion, up 17.25% year-over-year.

• Net profit attributable to shareholders in Q3 was RMB 2.94 billion, up 10.36% year-over-year; YTD net profit was RMB 11.35 billion, up 20.34% year-over-year.

• Basic and diluted EPS for the first nine months were RMB 9.30, up 20.31% year-over-year.

Financial highlights

• Operating cash flow for the first nine months was RMB 11.43 billion, up 56.56% year-over-year, mainly due to increased cash from sales and bank acceptance bill discounts.

• Total assets at Q3-end were RMB 49.74 billion, up 12.80% from year-end 2023.

• Shareholders' equity reached RMB 33.86 billion, up 21.64% from year-end 2023.

• Non-recurring profit and loss items had minimal impact, with government subsidies and other items totaling less than RMB 2.4 million YTD.

Key financial ratios and metrics

• Weighted average ROE for the first nine months was 33.87%, down 5.01 percentage points year-over-year.

• Gross margin for the first nine months was approximately 76%, calculated from revenue and cost of sales.

• Basic and diluted EPS for Q3 were RMB 2.41, up 11.06% year-over-year.