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Kweichow Moutai: In the first quarter, revenue surpassed 50 billion, Net income increased by 11.56%, and the decline in operating Cash flow has drawn attention.
In the first quarter, Kweichow Moutai's revenue exceeded 50 billion, with net income growing by 11.56% year-on-year, but the decline in operating cash flow has raised concerns. Key points summary of financial performance:...
Kweichow Moutai's Q1 Net income increased by 11.56% year-on-year, with revenue growth of 10.54%, steady demand for high-end Baijiu(Chinese Liquor) | Earnings Reports Summary.
In the first quarter, Kweichow Moutai achieved a revenue of 50.6 billion yuan, a year-on-year increase of 10.54%, and a Net income of 26.847 billion yuan, a year-on-year increase of 11.56%. The demand for high-end Baijiu remains strong, and the series of liquor Global Strategy has shown significant results.
Anhui Yingjia Distillery's revenue and net income fell short of targets last year, with a decline in sales growth in the core Anhui market.| Interpretations
①Last year, Anhui Yingjia Distillery achieved growth in revenue and net income but failed to meet the previously set revenue and net income growth targets. ②Last year, Anhui Yingjia Distillery's growth rate in its core market of Anhui Province was about 13%, significantly lower than the growth rates of previous years. ③As of the end of March this year, Anhui Yingjia Distillery's contract liabilities amounted to 0.457 billion yuan, a year-on-year decline of approximately 11%.
Anhui Kouzi Distillery's performance declined last year with revenue not meeting targets, reducing the dividend rate to less than 50%. | Interpretations
① Anhui Kouzi Distillery failed to meet its previously set revenue growth targets; as Net income declined, the company reduced its dividend payout ratio to below 50%; ② Amid the performance downturn, Anhui Kouzi Distillery still lavishly spent over 30 million yuan on Consulting Services. Over the past three years, Anhui Kouzi Distillery has spent more than 81 million yuan on consulting services such as McKinsey; ③ Anhui Kouzi Distillery did not clarify its operating targets for this year in the annual report, only stating that the industry situation remains severe in 2025.
Anhui Gujing Distillery: Last year's revenue and total profit did not meet the targets; this year plans for "steady growth" in operations | Interpretations
① Anhui Gujing Distillery was unable to meet its operational targets set last year. Amid weak consumer demand, the company unusually did not propose specific revenue targets for this year, only stating intentions for "steady growth"; ② Last year, the company's core product, the vintage raw liquor, continued to show an increase in both volume and price, but the growth rate of sales and ton price slowed down; ③ The dividend payout ratio for Anhui Gujing Distillery in 2024 has increased by 6 percentage points to 57.49%.
Brokerage morning meeting highlights: Listed companies significantly Increase Stake & Buy Back, demonstrating determination and strength.
In today's brokerage morning meeting, Founder Securities believes that listed companies are significantly increasing their Increase Stake & Buy Back measures to demonstrate resolve and strength; China International Capital Corporation suggested that the Federal Reserve is not expected to cut interest rates in the short term, with a potential restart of rate cuts possibly in the third quarter; HTSC believes that the Real Estate property management Sector has both improvement potential and dividend value.
