Summary by Moomoo AI
Qingdao Beer Co., Ltd. (the “Company”) has published its first quarter report for 2024, which is unaudited. The report showed that the company's operating income reached RMB 101.5 billion, down 5.19% from the same period last year. However, net profit attributable to shareholders of listed companies reached RMB15.97 billion, an increase of 10.06% year-on-year, net profit after non-recurring losses amounted to RMB15.13 billion, an increase of 12.11% year-on-year. Net cash flow generated by operating activities was RMB28.53 billion, a significant year-on-year increase of 57.29%. The total assets of the company were RMB 504.59 billion, an increase of 2.44% year-on-year, and the shareholders' equity of the listed company was RMB290.68 billion, an increase of 5.89%. The company continued to promote brand optimization and product structure upgrades during the reporting period and actively explored the market. In addition, on March 4, 2024, the company acquired a 20% stake in Qingdao Beer (Anshan) Co., Ltd., increasing the company's shareholding to 80%. The equity transaction was completed on March 15.