Zhi Tong Cai Jing·2025-10-28 01:43Core Viewpoint - Qingdao Beer Co., Ltd. reported a mixed performance in its Q3 2025 results, leading to a decline in stock price by over 5% following the announcement [1] Financial Performance - The company achieved a total revenue of 29.367 billion RMB, reflecting a year-on-year increase of 1.41% [1] - The net profit attributable to shareholders reached 5.274 billion RMB, marking a year-on-year growth of 5.7% [1] - In Q3 alone, revenue was 8.88 billion RMB, showing a slight decline of 0.2% year-on-year [1] - The net profit for Q3 was 1.37 billion RMB, which is a year-on-year increase of 1.6% [1] Sales and Product Structure - Sales volume remained stable, while the average selling price (ASP) was slightly pressured due to seasonal discounts [1] - In Q3 2025, sales volume and ASP changed by +0.3% and -0.5% year-on-year, respectively [1] - The main brand, Qingdao Beer, saw a sales volume increase of 4.2% year-on-year, with its market share rising by 2.2 percentage points [1] - Other brands experienced a sales volume decline of 4.8% year-on-year [1] - Sales of mid-to-high-end products increased by 6.8% year-on-year, with their market share growing by 2.6 percentage points, while sales of lower-end products decreased by 4.2% year-on-year [1]