Shanxi Xinghuacun Fen Wine Factory (600809) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB 7.34bn, down 18.11% YoY; attributable net income was RMB 1.90bn, down 34.52% YoY, as revenue fell while costs and expenses declined more slowly.

• 9M revenue reached RMB 28.38bn, down 13.80% YoY; attributable net income was RMB 8.34bn, down 26.89% YoY.

Financial highlights

• 9M operating profit was RMB 11.52bn versus RMB 15.42bn a year earlier; total profit was RMB 11.52bn, down 25.24% YoY.

• 9M operating costs were RMB 16.96bn versus RMB 17.63bn YoY; operating revenue declined by a greater amount, while management cited limited cost and expense reductions as a factor in lower profit.

• 9M adjusted net income was RMB 8.337bn, down 26.94% YoY; reported attributable net income was RMB 8.338bn, down 26.89%.

Key financial ratios and metrics

• 9M basic and diluted EPS were RMB 6.83, down 26.95% YoY; Q3 basic and diluted EPS were RMB 1.55, down 34.87%.

• Weighted average ROE was 20.26% for 9M, down 11.56 percentage points YoY; Q3 ROE was 5.24%, down 2.81 percentage points.

• At Sep. 30, total assets were RMB 58.72bn and parent-attributable equity was RMB 39.99bn; cash was RMB 6.87bn.