KWEICHOW MOUTAI(SH:600519) Xin Lang Cai Jing·2025-05-19 07:18Core Viewpoint - Guizhou Moutai Co., Ltd. reported strong financial performance for 2024, exceeding initial targets with significant revenue and profit growth, while also enhancing shareholder returns through dividends and share buybacks [2][3]. Financial Performance - In 2024, the company achieved total operating revenue of 174.144 billion yuan, a year-on-year increase of 15.66% [2]. - The net profit attributable to shareholders reached 86.228 billion yuan, reflecting a growth of 15.38% compared to the previous year [2]. - The net cash flow from operating activities was 92.464 billion yuan, marking a substantial increase of 38.85% [2]. Product Structure - Moutai liquor remained the company's main revenue driver, generating 145.928 billion yuan in revenue, up 15.28% year-on-year [2]. - Revenue from the Moutai sauce-flavored liquor series exceeded 24.6 billion yuan, with a growth rate of 19.65%, indicating a strong and steady growth trajectory [2]. Shareholder Returns - The company proposed a cash dividend of 276.24 yuan per 10 shares, totaling 34.67 billion yuan, alongside an interim dividend of 30 billion yuan, leading to a total cash dividend of 64.672 billion yuan for 2024 [3]. - The actual dividend payout ratio is approximately 80% [3]. - As of April 2025, Moutai had repurchased 2,017,483 shares, accounting for 0.1606% of the total share capital, with a total expenditure exceeding 3 billion yuan [3]. International Business - In 2024, overseas revenue reached 5.189 billion yuan, marking the first time it surpassed 5 billion yuan, with a shift from "product export" to "brand expansion" and "cultural dissemination" [3].