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haitong sec: baijiu companies jointly cope with slowing down, beer volume and price are under pressure, waiting quietly for a recovery.
baijiu actively slows down to relieve pressure due to weak demand, exacerbating differentiation and highlighting the Matthew effect; beer Q3 demand is weak, leading to pressure on volume and price in the peak season, with cost benefits continuing to support profitability.
Anhui Gujing Distillery (000596): The momentum of annual raw juice continues, Q3 expense ratio continues to decrease.
Event: In Q1-3 2024, the company's revenue/ net income attributable to the parent company/ non-recurring net profit attributable to the parent company were 19.069/4.746/4.7 billion yuan (+19.53% / +24.49% / +2
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.
Anhui Gujing Distillery (000596): The growth rates of revenue and net income in the third quarter are still in double digits or above.
Event: The company released the third quarter report for 2024, with a revenue of 19.07 billion yuan in the first three quarters of 2024, up 19.5% year-on-year, and a net income attributable to the mother of 4.75 billion yuan, up 24.5% year-on-year, after deducting non-recurring items for the net income attributable to the company's shareholder.
Express News | Zheshang Securities: Liquor companies actively control speed and focus on leading symbols.
Anhui Gujing Distillery (000596): The basic market in the province is stable, operating steadily with a slowing downturn.
Event: The company released the third quarter report of 2024, with a 19.5% year-on-year increase in revenue for the first three quarters of 2024, and a 24.5% year-on-year increase in net income attributable to the parent; 3Q2024 revenue and net income attributable to the parent increased by 13.4% and 13% respectively.
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