贵州茅台(600519) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 reached CNY 50.60 billion, an increase of 10.54% compared to CNY 45.78 billion in the same period last year[3] - Net profit attributable to shareholders was CNY 26.85 billion, reflecting an 11.56% increase from CNY 24.07 billion year-on-year[3] - The basic earnings per share rose to CNY 21.38, up 11.59% from CNY 19.16 in the previous year[3] - The company reported a total of 4.36 billion yuan in revenue from Moutai liquor, with 2.32 billion yuan from direct sales and 2.74 billion yuan from wholesale[6] - The company reported total operating revenue of RMB 51.44 billion for Q1 2025, an increase of 10.6% compared to RMB 46.48 billion in Q1 2024[19] - Operating income for Q1 2025 was RMB 50.60 billion, up from RMB 45.78 billion in Q1 2024, reflecting a growth of 10.0%[19] - The company’s net profit for Q1 2025 was RMB 37.04 billion, compared to RMB 33.16 billion in Q1 2024, indicating a growth of 11.5%[19] - The company’s total comprehensive income for the first quarter of 2025 was ¥27.78 billion, compared to ¥24.88 billion in the same period last year, indicating a growth of 11.6%[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 312.37 billion, a 4.49% increase from CNY 298.94 billion at the end of the previous year[4] - As of March 31, 2025, total assets amounted to RMB 312.37 billion, an increase from RMB 298.94 billion as of December 31, 2024[16] - The company’s total liabilities decreased to RMB 44.18 billion as of March 31, 2025, from RMB 56.93 billion at the end of 2024[16] Cash Flow - The net cash flow from operating activities decreased by 4.12% to CNY 8.81 billion, down from CNY 9.19 billion year-on-year[3] - The net cash flow from operating activities for the first quarter of 2025 was ¥8.81 billion, a decrease of 4.1% from ¥9.19 billion in the first quarter of 2024[22] - The cash inflow from operating activities totaled ¥50.58 billion in the first quarter of 2025, compared to ¥44.55 billion in the first quarter of 2024, marking an increase of 13.5%[22] - The company’s total operating cash outflow was ¥41.78 billion in the first quarter of 2025, up from ¥35.36 billion in the same period last year, representing a rise of 18.1%[22] - The company reported a net cash outflow from investing activities of ¥624.22 million in the first quarter of 2025, an improvement from a net outflow of ¥766.51 million in the same period last year[23] - The company reported a net cash outflow from financing activities of ¥1.61 billion in the first quarter of 2025, compared to a much smaller outflow of ¥11.76 million in the first quarter of 2024[23] Shareholder Equity - The total equity attributable to shareholders increased by 10.83% to CNY 258.36 billion from CNY 233.11 billion at the end of the previous year[4] - The company has repurchased a total of 1,082,700 shares, accounting for 0.086% of the total share capital, with a total expenditure of approximately RMB 1.60 billion[12] - The company plans to repurchase shares with a total amount not less than RMB 30 billion and not exceeding RMB 60 billion within 12 months from the approval date[11] Distributor Growth - The number of domestic distributors increased by 50 to a total of 2,174, while international distributors rose by 5 to 109[8] Inventory and Cash Management - Cash and cash equivalents decreased to RMB 52.20 billion as of March 31, 2025, down from RMB 59.30 billion at the end of 2024[14] - The company’s inventory as of March 31, 2025, was RMB 54.80 billion, slightly up from RMB 54.34 billion at the end of 2024[14]