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Wuliangye Yibin (000858): Both the third quarter revenue and net income have increased positively, with sufficient monetary funds on the balance sheet.
Event: The company released the third quarter report for 2024, with revenue of 67.92 billion yuan, up 8.6% year-on-year, net income attributable to the mother of 24.93 billion, up 9.2% year-on-year, net income attributable to shareholders after non-recurring items.
zheshang Securities: In Q3 24, liquor companies take the initiative to control speed, while leading liquor companies still have resilience.
In the third quarter of 2024, liquor enterprises took the initiative to control speed, striving to resolve the supply-demand contradictions and inventory pressure in their development, with revenue/profits of kweichow moutai, anhui gujing distillery, shanxi xinghuacun fen wine factory, sichuan swellfun, hebei hengshui laobaigan liquor meeting expectations.
gtja: Expectations for domestic improvement continue to heat up, highlighting the elasticity of baijiu.
In the short term, the baijiu(chinese liquor) industry is expected to lead, with the market focusing on the elasticity and space for individual stock performance recovery. The impact of performance fluctuations on stock prices is blunted, and the consumption demand for baijiu(chinese liquor) at the second-highest end price level has the most repair elasticity.
Guolian Securities: The fundamentals of the liquor sector in Q3 2024 are bottoming out, and the report is slowing down.
The overall revenue growth rate of key companies in the baijiu industry in Q3 2024 calculated by the overall method is 2.41%, with the revenue growth rates of high-end liquor / second-tier liquor / regional liquor at +9.59% / -0.38% / -15.64% respectively, with sequential decreases of 4.65 / 8.87 / 23.32 percentage points.
Founder Securities: Proactively controlling speed to release pressure, Q3 baijiu report shows intensified differentiation.
The baijiu sector reported a slowdown in Q2, with off-season liquor companies shifting their focus to maintaining the industry price system, controlling inventory to support prices and maintaining healthy circulation channels. It is expected that the Q3 and Q4 financial reports will continue the trend of risk release.
Wuliangye: Third Quarter Report 2024 (English)
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