The revenue of Shuijingfang in the first half of the year increased by 12.89%year -on -year, and investors were worried that the stock price increased by more than 4%

On July 26, Sichuan Shuijingfang Co., Ltd. (600779.SH, referred to as "Shuijingfang") released the 2022 semi -annual report. The financial report shows that in the first half of the year, operating income achieved 2.074 billion yuan, an increase of 12.89%year -on -year; net profit was 370 million yuan, a year -on -year decrease of 2%. From the perspective of expenses, the sales expenses of Shuijingfang increased by 19.27%year -on -year in the first half of this year to approximately 696 million yuan, of which advertising and promotional costs increased by about 13%year -on -year to 527 million yuan.

According to the financial report, Shuijingfang's revenue mainly comes from high -end products, and sales also depend on traditional channels.

Specifically, in the first half of the year, Shuijingfang wine products achieved sales revenue of 1.926 billion yuan in the wholesale agency channels, and sales revenue was 120 million yuan in new channels. According to the grade, Shuijingfang's high -end products achieved operating income of 1.984 billion yuan, an increase of 11.41%year -on -year; the operating income of mid -range products was 61.17 million yuan, an increase of 13.94%year -on -year.

Shuijingfang said in the financial report that the epidemic situation after the Spring Festival has a greater impact on liquor consumption scenarios. The growth momentum of the company's product sales has slowed down in the first half of the year. The overall social inventory is also higher than the same period of the previous year, but it is still at a healthy level. In the second half of the year, the liquor industry is expected to continue to face the challenges caused by the epidemic and economic slowdown. It is difficult to sell channels, increase social inventory, and tight cash flow, but the company is still cautious and optimistic about the long -term development of the industry.

On July 27, the stock price of Shuijingfang fell after the opening. As of press time, the company's stock price fell more than 4%, showing that investors were worried about the rise in the inventory of liquor companies in the second half of the year. (Company research room wine industry group)

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