---
title: "Guizhou Maotai's net profit in the first quarter was 24.065 billion, a year-on-year increase of 15.73% | Financial Report Insights"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/202924243.md"
description: "In the first quarter, Moutai's direct sales channel revenue reached 19.319 billion yuan, while the \"i Moutai\" digital marketing platform generated 5.343 billion yuan in tax-free revenue for alcoholic beverages"
datetime: "2024-04-26T13:04:11.000Z"
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  - [en](https://longbridge.com/en/news/202924243.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/202924243.md)
---

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# Guizhou Maotai's net profit in the first quarter was 24.065 billion, a year-on-year increase of 15.73% | Financial Report Insights

In the first quarter, "liquor leader" Guizhou Maotai handed in an impressive report card, with both revenue and net profit maintaining double-digit growth.

On April 26, Guizhou Maotai released its first quarter report. In the first quarter, Guizhou Maotai achieved operating income of 45.775 billion yuan, an 18.11% year-on-year increase. Net profit attributable to shareholders of the listed company was 24.065 billion yuan, a 15.73% year-on-year increase.

In the first quarter, diluted EPS of Guizhou Maotai was 19.16 yuan, a 15.73% year-on-year increase; Maotai's first quarter gross profit margin was 92.59%, up 0.36 percentage points from the same period last year, maintaining a high level of operation; net profit margin was 52.57%, down 1.11 percentage points from the same period last year.

It is worth mentioning that the net cash flow generated from operating activities of Maotai in the first quarter reached 9.187 billion yuan, a significant increase of 75.17% year-on-year. On the one hand, this is due to the increase in Maotai liquor sales receipts, and on the other hand, it is also related to the increase in the net increase in deposits with the central bank and interbank items.

In the first quarter, Guizhou Maotai generated revenue of 39.707 billion yuan from Maotai liquor sales and 5.936 billion yuan from series liquor.

By sales channel, revenue from direct sales channels was 19.319 billion yuan, while revenue from wholesale channels was 26.324 billion yuan.

In addition, from the beginning of the year to the end of the reporting period, the company achieved tax-free revenue of 5.343 billion yuan through the "i Maotai" digital marketing platform.

In terms of the market, domestic revenue reached 44.83 billion yuan, while overseas revenue reached 0.813 billion yuan.

As of the end of March, Maotai's total assets were 285.525 billion yuan, a 4.70% increase from the beginning of the year; the owner's equity attributable to shareholders of the listed company was 239.732 billion yuan, an 11.16% increase from the beginning of the year. The company's asset-liability ratio was 12.95%, indicating a sound financial condition.

Previously, there were reports that the price reduction of Feitian Maotai had increased, with the wholesale reference price falling to 2,510 yuan per bottle. Maotai responded that Xunfeng wine accounts for a small proportion of Maotai's annual output, which will not affect the price system of Maotai liquor. Currently, Maotai liquor is selling well, and in terms of its impact on performance, Maotai's performance remains strong amid price reductions

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