Summary by Futu AI
QINGDAO BEER CO., LTD. ISSUED ITS FIRST QUARTER REPORT FOR 2024 ON APRIL 29, 2024. UNAUDITED FINANCIAL DATA SHOWED THAT THE COMPANY'S OPERATING INCOME WAS 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, up 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 Company's basic earnings per share were $1.175 and diluted earnings per share were $1.172, weighted average net asset yield of 5.65%, an increase of 0.12 percentage points over the same period last year. During the reporting period, Qingdao Beer continued to promote brand optimization and product structure upgrade, improve product quality, actively expand the market, and achieve continuous high quality development. In addition, in March 2024, the company completed the acquisition of a 20% stake in Qingdao Beer (Anshan) Co., Ltd., increasing it to 80%.