青岛啤酒(600600) - 2024 Q1 - 季度财报

Financial Performance - Revenue for the first quarter of 2024 was RMB 10.15 billion, a decrease of 5.19% year-over-year[4] - Net profit attributable to shareholders of the listed company was RMB 1.597 billion, an increase of 10.06% year-over-year[4] - Net profit for the first quarter of 2024 was 1.62 billion RMB, compared to 1.47 billion RMB in the same period last year[18] - Operating income for the first quarter of 2024 was 10.15 billion RMB, down from 10.71 billion RMB in the same period last year[17] - Basic earnings per share were RMB 1.175, an increase of 9.71% year-over-year[4] - Basic earnings per share (EPS) for the first quarter of 2024 was 1.175 RMB, up from 1.071 RMB in the same period last year[19] - Weighted average return on equity (ROE) was 5.65%, an increase of 0.12 percentage points[4] Cash Flow and Liquidity - Net cash flow from operating activities was RMB 2.853 billion, an increase of 57.29% year-over-year[4] - Net cash flow from operating activities increased by 57.3% to 2,853,166,067 yuan in Q1 2024 from 1,813,957,743 yuan in Q1 2023[21] - Total cash inflow from operating activities reached 10,020,892,260 yuan in Q1 2024, up 7.5% from 9,325,415,046 yuan in Q1 2023[21] - Cash outflow for purchasing goods and services decreased by 5.6% to 3,776,378,876 yuan in Q1 2024 from 4,000,150,030 yuan in Q1 2023[21] - Cash payments for investments surged to 7,200,000,000 yuan in Q1 2024, a 12.7% increase from 6,386,109,500 yuan in Q1 2023[21] - Net cash flow from investment activities was -5,925,636,971 yuan in Q1 2024, compared to -4,190,214,856 yuan in Q1 2023[21] - Cash and cash equivalents at the end of Q1 2024 stood at 6,183,503,443 yuan, a 40.8% decrease from 10,444,423,063 yuan at the end of Q1 2023[22] - Cash payments for employee compensation increased by 4.5% to 1,392,868,601 yuan in Q1 2024 from 1,333,509,933 yuan in Q1 2023[21] - Tax payments decreased by 17.2% to 1,135,815,605 yuan in Q1 2024 from 1,370,839,687 yuan in Q1 2023[21] - Cash received from disposal of fixed assets and intangible assets dropped significantly to 7,273,212 yuan in Q1 2024 from 586,174,150 yuan in Q1 2023[21] Sales and Product Performance - Total product sales volume for the first quarter was 2.184 million kiloliters, with the main brand Tsingtao Beer contributing 1.322 million kiloliters[5] - Sales volume of mid-to-high-end products reached 960,000 kiloliters[5] - Sales of goods and services received cash of 9,622,455,676 yuan in Q1 2024, a 5.2% increase from 9,149,118,050 yuan in Q1 2023[20] Assets and Liabilities - Total assets increased by 2.44% to RMB 50.459 billion compared to the end of the previous year[5] - Total assets increased to 50.46 billion RMB, up from 49.26 billion RMB in the previous period[15] - Equity attributable to shareholders of the listed company increased by 5.89% to RMB 29.068 billion[5] - Total equity increased to 29.85 billion RMB from 28.25 billion RMB[16] - Total liabilities decreased to 20.61 billion RMB from 21.00 billion RMB[16] - Contract liabilities decreased to 5.94 billion RMB from 7.69 billion RMB[15] - The company's monetary funds increased to RMB 21.60 billion as of March 31, 2024, compared to RMB 19.28 billion at the end of 2023[13] - Trading financial assets rose to RMB 3.04 billion in Q1 2024, up from RMB 1.92 billion at the end of 2023[14] - Inventory decreased to RMB 2.51 billion in Q1 2024 from RMB 3.54 billion at the end of 2023[14] - Total current assets reached RMB 30.11 billion as of March 31, 2024, compared to RMB 29.61 billion at the end of 2023[14] - Fixed assets stood at RMB 10.95 billion as of March 31, 2024, slightly down from RMB 11.15 billion at the end of 2023[14] - Construction in progress increased to RMB 603.06 million in Q1 2024 from RMB 498.57 million at the end of 2023[14] - Intangible assets grew to RMB 2.62 billion as of March 31, 2024, up from RMB 2.49 billion at the end of 2023[14] - Deferred tax assets rose to RMB 2.14 billion in Q1 2024 from RMB 2.03 billion at the end of 2023[14] - The company's total non-current assets increased to RMB 19.05 billion as of March 31, 2024, compared to RMB 18.13 billion at the end of 2023[14] Investments and Acquisitions - The company acquired a 20% stake in Qingdao Beer (Anshan) Co., Ltd. for RMB 18.065 million, increasing its ownership to 80%[12] Expenses and Costs - Research and development expenses increased to 17.83 million RMB from 10.70 million RMB[18] - Sales expenses decreased to 1.30 billion RMB from 1.48 billion RMB[18] - Financial expenses showed a net income of 141.21 million RMB, compared to 102.26 million RMB in the same period last year[18] Government Subsidies - Government subsidies received during the period amounted to RMB 94.924 million[6]