前三季度净利646.27亿元 贵州茅台单季净利微增0.48%

Core Insights - Guizhou Moutai reported a revenue of 128.45 billion yuan for the first three quarters, marking a year-on-year growth of 6.36% [1] - The net profit attributable to shareholders reached 64.63 billion yuan, with a daily net profit of 239 million yuan, also reflecting a growth of 6.25% year-on-year [1] - The net cash flow from operating activities decreased by 14.01% to 38.20 billion yuan [1] Financial Performance - In Q3, Guizhou Moutai's revenue was 39.06 billion yuan, showing a slight increase of 0.56% year-on-year [2] - The net profit for Q3 was 19.22 billion yuan, with a year-on-year growth of 0.48% [2] - Moutai liquor remains the main revenue driver, generating 110.51 billion yuan in the first three quarters, while series liquor revenue fell to 17.88 billion yuan [2] Sales Channels - Direct sales revenue reached 55.56 billion yuan, while wholesale and agency revenue amounted to 72.84 billion yuan [2] - Revenue from the "i Moutai" digital marketing platform was 12.69 billion yuan, which represents a decline compared to the previous year [2] Shareholder Activity - As of October 20, the controlling shareholder increased its stake by acquiring 797,125 shares, representing 0.06365% of the total share capital, with a total expenditure of 1.16 billion yuan [2] - The total number of shareholders reached 238,500, an increase of 8.09% from the previous reporting period, with an average holding of 5,250 shares [2] Market Position - Guizhou Moutai has dropped out of the top five holdings in active equity funds, falling from the third largest to the tenth largest position, marking the lowest ranking in recent years [3]