智通财经网·2026-03-23 04:15Group 1: Overall Performance - The company reported a revenue of RMB 37.985 billion for the year ending December 31, 2025, a decrease of 1.68% year-on-year [1] - The profit attributable to shareholders was RMB 3.371 billion, down 28.87% year-on-year [1] - Basic earnings per share were RMB 1.04, with a proposed final dividend of RMB 0.557 per share [1] Group 2: Beer Business - The company achieved beer sales of approximately 11.03 billion liters in 2025, representing a year-on-year growth of 1.4% [1] - High-end beer products continued to perform well, with sales of premium and above beers growing in the mid to high single digits year-on-year, accounting for nearly 25% of total sales [1] - The beer business maintained stable revenue of approximately RMB 36.489 billion, with a gross margin increase of 1.4 percentage points to 42.5% due to ongoing premiumization and cost savings in raw material procurement [1] - Excluding special items, the EBITDA for the beer business was RMB 9.611 billion, reflecting a year-on-year increase of 17.4% [1] Group 3: Baijiu Business - The baijiu business generated revenue of RMB 1.496 billion in 2025, impacted by structural adjustments and declining consumer demand in the industry [2] - The company recognized an impairment of goodwill amounting to RMB 2.877 billion for the baijiu business due to the current market environment [2] - Without accounting for the goodwill impairment, the EBITDA for the baijiu business was RMB 264 million [2]