贵州茅台去年净利润超862亿元 经营性现金流同比增近四成

Core Viewpoint - Guizhou Moutai Co., Ltd. reported strong financial performance for 2024, with significant growth in revenue and profit, while also planning for continued growth in 2025 through strategic initiatives [1][2] Financial Performance - The company achieved total revenue of 174.144 billion yuan, a year-on-year increase of 15.66% [1] - Net profit attributable to shareholders was 86.228 billion yuan, up 15.38% year-on-year [1] - Operating cash flow reached 92.464 billion yuan, reflecting a 38.85% increase [1] - A cash dividend of 27.624 yuan per 10 shares is proposed, totaling 34.671 billion yuan [1] Product Performance - Revenue from the flagship Moutai liquor reached 145.928 billion yuan, growing 15.28% with a gross margin of 94.06% [1] - Other series of liquor generated 24.684 billion yuan in revenue, up 19.65% with a gross margin of 79.87% [1] - Domestic revenue was 165.423 billion yuan, a 15.79% increase, while international revenue was 5.189 billion yuan, growing 19.27% [1] Sales Channels - Wholesale agency sales generated 95.769 billion yuan, a 19.73% increase [1] - Direct sales achieved 74.843 billion yuan, up 11.32% [1] - Total liquor production was 104,400 tons, increasing by 4.24%, while sales volume reached 83,300 tons, a 13.73% increase [1] Future Outlook - For 2025, the company aims for a revenue growth of approximately 9% and plans to invest 4.711 billion yuan in fixed assets [2] - The company will focus on enhancing strategic determination, brand strength, and market vitality while addressing supply-demand matching issues [2] - Guizhou Moutai has a history of stable dividends, with cumulative cash dividends reaching 301.441 billion yuan since its listing, and a dividend payout ratio of 59.52% [2]