CBC(SH:600132)2024-10-30 09:35Financial Performance - The company's revenue for Q3 2024 was CNY 4,202,308,225, a decrease of 7.11% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was CNY 430,678,422, down 10.10% year-on-year[2] - The basic earnings per share for Q3 2024 was CNY 0.89, reflecting a decrease of 10.10% compared to the previous year[3] - Total operating revenue for the first three quarters of 2024 reached CNY 13,062,996,755.34, a slight increase from CNY 13,028,681,199.38 in the same period of 2023[18] - Net profit attributable to shareholders decreased to CNY 1,391,156,098.66 from CNY 1,414,306,729.77 year-over-year[16] - The net profit for the third quarter of 2024 was CNY 2,666,605,303.42, a decrease of 1.57% compared to CNY 2,708,970,499.30 in the same period of 2023[19] - The total profit for the third quarter was CNY 3,314,393,154.03, down from CNY 3,368,707,128.47 in the previous year, reflecting a decline of 1.61%[19] - The operating profit for the third quarter was CNY 3,303,912,607.41, slightly lower than CNY 3,366,900,914.81 in the same quarter of 2023, indicating a decrease of 1.87%[19] Sales and Market Performance - For the first nine months of 2024, beer sales reached 2.657 million kiloliters, a slight increase of 0.20% from 2.6517 million kiloliters in the same period last year[5] - The revenue from high-end products for the first nine months of 2024 was CNY 7,625,256,387.01, a decrease of 1.24% year-on-year[5] - The revenue from the southern region for the first nine months of 2024 was CNY 3,685,453,865.85, an increase of 1.13% compared to the previous year[7] Assets and Liabilities - The total assets as of the end of Q3 2024 were CNY 13,150,720,231.50, an increase of 6.17% from the end of the previous year[3] - Total assets increased to CNY 13,150,720,231.50 from CNY 12,386,911,593.95[16] - Total liabilities rose to CNY 8,789,741,504.37, compared to CNY 8,734,763,046.02 in the previous year[16] - Non-current assets totaled CNY 7,396,294,665.09, up from CNY 6,922,305,358.95[16] - Current liabilities increased to CNY 8,277,793,367.79 from CNY 8,181,739,328.17[16] Cash Flow and Financial Position - The net cash flow from operating activities for the first nine months of 2024 was CNY 3,461,797,517.06, down 6.90% year-on-year[2] - The cash flow from operating activities for the first nine months of 2024 was CNY 14,077,092,808.32, a decrease from CNY 14,185,593,285.74 in the same period of 2023[22] - The company reported a cash and cash equivalents balance of CNY 3,227,496,333.84 at the end of the third quarter, compared to CNY 4,877,754,300.00 at the end of the same period in 2023[23] - Cash and cash equivalents reached CNY 3.24 billion, up from CNY 2.71 billion, indicating a significant increase of approximately 19.4%[14] Shareholder Information - The top shareholder, Carlsberg Brewery Hong Kong Limited, holds 42.54% of the shares, while Carlsberg Chongqing Limited holds 17.46%[10] - The company has not reported any significant changes in the top ten shareholders or their shareholding status during the reporting period[12] Operational Changes - The company added 176 new distributors and reduced 164, resulting in a total of 3,000 distributors by the end of the reporting period[7] - The company reported a significant increase in accounts receivable, which rose to CNY 156.02 million from CNY 64.63 million, marking an increase of approximately 141.5%[14] Research and Development - Research and development expenses rose to CNY 16,013,138.98, compared to CNY 13,349,414.97 in the previous year[18] Strategic Outlook - The report indicates no significant new strategies or product developments mentioned for the upcoming quarters[13] - The company has not disclosed any plans for market expansion or mergers and acquisitions in the near future[13]