Yanjing Brewery(SZ:000729)2025-04-21 12:20Financial Performance - In 2024, Beijing Yanjing Beer achieved beer sales of 4.0044 million kiloliters, a year-on-year increase of 1.57%, with Yanjing U8 sales reaching 696,000 kiloliters, up 31.40%[3]. - The company reported operating revenue of 14.667 billion yuan, a year-on-year growth of 3.20%, and operating profit of 1.609 billion yuan, an increase of 56.96%[3]. - The net profit attributable to shareholders reached 1.056 billion yuan, marking a year-on-year increase of 63.74%, with major economic indicators hitting historical highs[3]. - The company's operating revenue for 2024 reached ¥14,667,016,921.50, representing a 3.20% increase from ¥14,212,857,297.00 in 2023[32]. - Net profit attributable to shareholders for 2024 was ¥1,055,678,539.28, a significant increase of 63.74% compared to ¥644,714,424.03 in 2023[32]. - The net profit after deducting non-recurring gains and losses for 2024 was ¥1,040,637,380.31, up 108.03% from ¥500,225,523.73 in 2023[32]. - The net cash flow from operating activities for 2024 was ¥2,548,966,185.50, an increase of 81.05% from ¥1,407,868,568.33 in 2023[32]. - Basic earnings per share for 2024 were ¥0.375, a 63.76% increase from ¥0.229 in 2023[32]. - The company reported a quarterly revenue of ¥4,800,336,798.81 in Q3 2024, with a net profit of ¥529,871,750.36 for the same quarter[36]. Product Development and Innovation - The company launched new products including Lion King Craft Beer and Yanjing No. 9, while enhancing the product structure to increase the proportion of mid-to-high-end products[8]. - A total of 16 new invention patents and 53 utility model patents were granted during the year, with one research achievement recognized as reaching international leading standards[8]. - The company launched several new products, including the upgraded Yanjing Fresh Beer and Yanjing U8, which targets younger consumers with innovative brewing techniques[46][47]. - The company’s premium craft beer series, including Lion King Craft Beer, caters to high-quality and specialty market demands[47]. - The company is focusing on developing differentiated products to meet diverse consumer demands, with ongoing R&D efforts[89]. Market Presence and Strategy - The company operates 60 subsidiaries across 18 provinces, enhancing its market presence nationwide[43]. - The company has maintained its main business of manufacturing and selling beer since its listing, with no changes reported[30]. - The company’s main business, beer production and sales, accounts for over 90% of its total operations, with a focus on optimizing product structure and expanding new channels[43]. - The company is actively pursuing a national product matrix to expand its market presence[119]. - Future plans include expanding market presence in the East China region, addressing competitive challenges and enhancing brand visibility[125]. Sustainability and ESG Initiatives - The company is committed to green development, with 17 "green factories" and 6 "green supply chain enterprises" established, alongside ongoing carbon management initiatives[9]. - The ESG management system certification was achieved, reflecting an upgrade in governance capabilities and contributing to sustainable high-quality development[13]. - The company is committed to sustainable development and has integrated ESG principles into its core strategy[55]. - The company has implemented a five-year ESG strategic plan to integrate ESG principles into its business operations, enhancing environmental, social, and economic benefits[170]. - The company has 13 factories recognized as "national green factories" and 4 as "provincial green factories," highlighting its commitment to environmental protection[115]. Corporate Governance and Management - The company has established a comprehensive compliance system integrating risk, legal, internal control, compliance, and audit to ensure stable operation and safety[170]. - The company has a well-defined corporate governance structure, including a shareholders' meeting, board of directors, and supervisory board, operating independently from the controlling shareholder[144]. - The management team has a strong focus on quality and safety, with several members holding advanced certifications in quality management and engineering[154][157]. - The company has established independent personnel and compensation management systems, ensuring separation from the controlling shareholder's influence[143]. - The company has confirmed that no current directors, supervisors, or senior management members are receiving remuneration from related parties[164]. Environmental Compliance - The company strictly adheres to national and local environmental protection laws and industry standards, including the Environmental Protection Law and various pollution discharge standards[193]. - All pollutant discharge permits for the company and its subsidiaries are valid and operational, with the latest permits issued until 2029[194][195]. - The total COD emissions for Beijing Yanjing Brewery Co., Ltd. are 124.42 tons, with a maximum allowable discharge of 1143.764 tons per year, indicating no exceedance of standards[197]. - The company has implemented environmental assessments and received approvals for all its operations, ensuring compliance with local regulations[194]. - Overall, all reported facilities maintained their discharge levels within regulatory limits, indicating compliance with environmental standards[199].