E-Malt.com News article: China: Chongqing Brewery reports a year‑on‑year decline in both revenue and net profit in first three quarters of the year

Affected by weak consumer demand and insufficient momentum for premium‑segment growth, Chongqing Brewery reported a year‑on‑year decline in both revenue and net profit for the first three quarters. In the third quarter alone, its results fell by approximately 14% compared with the same period last year, marking the third consecutive quarter of negative growth, Cailian Press reported on October 29.

This evening, Chongqing Beer released its Q3 2026 financial report. For the first three quarters, the company's total revenue reached RMB 12.39 billion, down 5.12% year over year, while net profit attributable to shareholders stood at RMB 1.119 billion, a 9.8% decline from the same period last year. On the sales front, the company's total beer volume for the quarter totaled 2.5329 million kilolitres, down roughly 5.1% year over year, marking a shift from positive to negative growth in sales.

Regarding the pressure on its financial performance, Chongqing Beer stated that it was primarily attributable to sluggish on-premise sales, a slower-than-expected recovery in dining and social consumption, and disruptions from extreme weather conditions. These factors have collectively weakened overall beer sales momentum and intensified competition for existing market share.

Looking at the results by quarter, Chongqing Beer reported operating revenue of RMB 3.814 billion in Q3 this year, down 9.61% year over year; net profit attributable to shareholders was RMB 323 million, a 13.99% decline from the same period last year and a 9% drop compared with Q2. This marks the third consecutive quarter of negative growth for Chongqing Beer, with the magnitude of the Q3 decline significantly widening.

By product category, revenue across all three price tiers weakened. In the first three quarters, Chongqing Beer's premium‑segment revenue totaled RMB 7.368 billion, down 4.5% year over year, with the absolute level of premium‑segment sales declining. Although the share of premium‑segment revenue edged up, this was not driven by stronger sales at the high end; rather, declines were more pronounced in the mainstream and economy segments. Revenue from the mainstream price tier fell 6.54% year over year to RMB 4.379 billion, while revenue from economy‑class products declined 6.42% to RMB 294 million.

By region, the Central China market, as the company's home base, emerged as the biggest drag. In the first three quarters, revenue in the Central China region totaled RMB 4.709 billion, down 10.6% year over year. Against a backdrop of competitors such as China Resources Beer, Tsingtao Brewery, and Yanjing Brewery steadily expanding their presence in the Southwest market, the company's share in its domestic stronghold came under pressure. The Northwest region posted the strongest performance, with a modest decline of just 0.37%, while the South region delivered a lackluster result, falling 2.76% year over year.

Dragged down by weak financial performance, Chongqing Beer's share price has fallen more than 27% year-to-date. As of now, the company has not undertaken any share buybacks or additional purchases by its controlling shareholder. Among the top ten shareholders, several institutions—including insurance funds, index funds, and Stock Connect investors—slightly reduced their stakes in Chongqing Beer during the third quarter, while the National Social Security Fund modestly increased its holdings.


30 October, 2026