The rumor smashed the golden pit, and was willing to get a number of securities firms in the wine industry, and the stock price was red

In the evening after closing the market on August 17, the wine industry disclosed the semi -annual report of 2022. It shows that under the conditions of the new crown epidemic in the second quarter, the wine industry continued to maintain its revenue and net profit steadily. In the first half of 2022, the company realized revenue of 3.025 billion yuan, an increase of 26.51%year -on -year; net profit was 836 million yuan, a year -on -year increase of 13.6%.

The liquor industry has traveled through the economic fluctuation cycle with a steady performance, highlighting the toughness and strong strength of business. Many securities firms have expressed their recognition of the steady development of the liquor industry. Analysis of the research report of Xingye Securities pointed out that the epidemic disturbances, the wine industry adheres to the healthy development of the channel, does not overdraw the future, benign development, and endless. Give the wine industry to buy rating.

Under the influence of the epidemic prevention and control, the market has obvious negative emotions, and recently the liquor index has continued to fluctuate downward. However, based on the ranking of the liquor industry in the secondary high -end camp, the growth of the wine industry has continued to improve, and the growth performance has performed well, including Tianfeng, Xingye, Anxin, Soochow and other securities firms to give the wine industry "buy" and "increase holdings" rating to boost investors investors confidence. On the 19th, when the Shanghai Stock Exchange Index fell 0.59%, the stock price of the wine industry closed the market to stabilize the red, and the market once rose to 1.75%.

In order to determine the impact of the pressure of the anti -epidemic situation, the high -quality development of the wine industry is willing to develop against the trend

The semi-annual report of the wine industry showed that from January to June 2022, the company achieved 3.025 billion yuan, an increase of 26.51%year-on-year; net profit was 836 million yuan, an increase of 13.6%year-on-year. In the second quarter, revenue was 1.141 billion yuan and net profit was 305 million yuan. In the second quarter of 2021 and the first quarter of 2022, the performance of the company's history was second and first. In the case of large -scale control bases, the net profit in the second quarter was year -on -year. The month -on -month growth rate has slowed down, but performance data is at a high level, of which net profit is the third highest in history.

Analysis of investors who have been paying attention to the wine industry for a long time pointed out that the simple comparison of operating data in the second quarter of 2021 and 2022 is unreasonable. In the opinion of investors, in the second quarter of 2021, he was willing to achieve a special case of a new high in the wine industry. It is due to the end of the funds occupation of funds in 2020, and after Fosun entered the master, it boosted market channel confidence, which led to the first half of 2021, especially the second quarter performance compensation.

Not only that, the macroeconomic overall pressure in the first half of 2022, in the second quarter, the liquor industry has successively encountered epidemic conditions in the core markets of Sichuan, East China, Northeast China and other places. Some investors said that in the most stringent quarter of the epidemic prevention and control, about 300 million net profit was achieved, and the second quarter of 2020 was also affected by the epidemic. It can be seen that the management of the wine industry has achieved qualitative transitions in the past two years, showing a high -quality development trend.

The market recovered rapidly from June to July, and the dealers are confident in all the city

In fact, the impact of uncertain factors is gradually fading. According to the feedback from Sichuan, Henan, and Shandong dealers, during the prevention and control of the epidemic in the second quarter, the liquor industry did not adopt channel pressing and other methods to force performance. After normal operations in June and July, the market has recovered rapidly, and channels and terminal inventory are at a historical low, and it shows a benign trend of rising volume and prices at the market.

An interview with a reluctant dealer in Henan said that in the past year, the actual transaction price of the end of the wine industry and the taste of the taste of the wine industry has risen by nearly 100 yuan. Rapid growth. Near the Mid -Autumn Festival, with the support of the wine market team, he has done a good job of related market marketing activities and promoted in an orderly manner. From the recent sales situation, the dealer believes that the second half of the year is the peak season of liquor in liquor. Under the influence of proper price control, careful deployment of marketing activities, and coordinated empowerment of manufacturers, they have full confidence in market expansion in the second half of the year.

The liquor industry adheres to the "altruistic customer thinking" as its business philosophy, and achieves a win -win situation for manufacturers to build a win -win situation. According to data from the semi -annual report, in the first half of 2022, there were a total of 2,456 dealers, of which 333 were exited and 537 were added. It is a steady increase from the end of 2021. Some industry analysts pointed out that the new and old dealers' replacement is extremely normal, and willing to actively carry out market tackling, to ensure that the price disk is stable and accelerate the weak market, and promote the brand's nationalization layout. In this case, dealers The rising number of quantities represents the increase of the brand influence of the wine industry in the first half of the year, and the stickiness of the relationship between manufacturers.

In this regard, Ping An Securities believes that the liquor industry has accelerated investment in the blank area and launched the growth of the Tuzai series in the Sichuan -Chongqing Council. In the context of low inventory+benign price+investment promotion, the company has gone into battle in the second half of the year. It is still expected to achieve.

Increase strategic investment against the trend, and see "future growth" in growth

The semi -annual report shows that in the first half of 2022, the sales cost of the wine industry reached 526 million yuan, an increase of 51.30%year -on -year; R & D expenses were 24 million yuan, a year -on -year increase of 21.13%. Management costs were 3011 million yuan, an increase of 33.54% year -on -year. The wine industry said in the announcement that the increase in sales expenses was mainly due to the increase in the salary and marketing promotion activities of the current issue, and the R & D expenses were due to the increase in the investment in new product project research and development in this issue.

In addition, the number of days in inventory continued to decline, from 931.2 days in the first half of 2021, the number of days of relief the inventory week in the first half of 2022 was 808.3 days, a year -on -year decrease of 13.2%. Data show that the company's market sales have been steadily improved, the product exits, and the operating capacity has continued to optimize. In order to enhance the production and storage capacity of the original wine, to ensure the deposit of high -quality old wine, and to ensure the high -quality and sustainable development of enterprises, in the first quarter of this year, the wine industry announced that it would be expected to invest 7.054 billion yuan in production and expansion. After the project is completed, the wine industry will be among the top -scale enterprises in China's liquor. In the case of macroeconomic pressure, the strategic investment in the liquor industry has increased the trend of production, manpower, market, brand, etc., which shows that it is determined and confident in the bigger and stronger brand. Base.

The strategy of old wine has steadily advanced to improve the quality of the growth rate

In the first half of the year, a series of marketing activities were willing to perform a series of marketing activities around the strategy of old wine and willingness to perform a series of marketing activities. The brand that lasted for five years has its own IP "Let's Wisdom" successfully ended, interpreting the brand value connotation with "willingness", with a total exposure of 6 billion; "Strategy, another IP" Wisdom Reluctant · Old Wine Feast ", which has been willing to implement wisdom to offline, has begun to success. He has gone through many cities such as Jinan, Mianyang, Xi'an, Changsha, Huzhou and other cities, and has been well received by markets and consumers in various places. Two large -scale activities, while consolidating the influence of the wine industry brand and product, also accelerated the process of promoting the national layout process.

Industry people pointed out that in the first half of the year, the action of the wine industry was frequent and dense. It is expected that the wine industry will continue to release the strategic bonus of the old wine and fully build the industry's first -class competitiveness. It is worth looking forward to.

- END -