KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-05-16 10:17Core Viewpoint - Guizhou Moutai has reported a strong performance in the first quarter of 2025, achieving significant revenue and profit growth, driven by its focus on the liquor industry, tourism, and comprehensive finance [1][3]. Financial Performance - Total revenue for the first quarter reached approximately 514.43 billion yuan, representing a year-on-year increase of about 10.67% [1][2]. - Net profit attributable to shareholders was approximately 268.47 billion yuan, with a year-on-year growth of about 11.56% [1][2]. - The basic earnings per share increased to 21.38 yuan, up 11.59% from the previous year [2]. Product Performance - Revenue from Moutai liquor was approximately 435.57 billion yuan, while series liquor revenue was about 70.22 billion yuan, with the latter showing an 18.30% year-on-year growth [2][3]. - The series liquor segment is becoming a significant growth driver for the company, contributing 13.88% to total revenue [3]. Sales Channels - Direct sales revenue for the first quarter was approximately 232.20 billion yuan, while wholesale revenue was about 273.6 billion yuan [4]. - The company has increased its domestic series liquor distributors by 50, bringing the total to 2,174 [6][7]. Regional Performance - Domestic sales accounted for approximately 494.61 billion yuan, while international sales were about 11.19 billion yuan [5]. Strategic Focus - The company aims for a full-year revenue growth target of 9%, supported by its strong brand and product strategies [7]. - Moutai is focusing on enhancing its series liquor offerings and expanding its market presence through innovative product launches and marketing strategies [8][9].