The revenue of 20 liquor listed companies in the first half of the year was 185.35 billion yuan "Mao Wu" accounted for nearly 60 %

31Aug

Our reporter Wang Lixin, an apprenticeship reporter Li Jing, as of August 30, the performance of 20 liquor listed companies in A shares was released. Under the influence of repeated epidemics and rising costs, what is the performance of the liquor listed company in the first half of this year? Behind the low overall activity of liquor stocks in the first half of this year, does it reflect the true face of the liquor industry? Does the industry enter a new round of adjustment? "Securities Daily" reporters combed and found that of the above 20 companies, 17 companies achieved dual growth and net profit growth in the first half of this year, accounting for 85%; the net profit of the remaining 3 companies fell year -on -year. Cai Xuefei, an analyst at the liquor industry and the general manager of Zhixu Consulting, said in an interview with a reporter from the Securities Daily that in the first half of this year, most wine companies achieved growth in performance and profits under the trend of product structure upgrades, especially the performance of head wine companies. Essence But starting in the second quarter, most wine companies have slowed down or even stagnate, which also means that the period of high -speed growth in Chinese liquor in the last round of Chinese liquor has ended, and the industry has entered a new round of development. "Mao Wu" revenue accounts for nearly 60%of Oriental Wealth Choice data. In the first half of this year, the above 20 companies achieved a total of 185.35 billion yuan, an increase of 15.9%over the same period last year; Compared with 21.3%. Specifically, the revenue of two companies increased by more than 100%, which were rock shares and*ST Huangtai, with revenue increases of 118.84%and 179.6%; 14 companies' revenue increased in 10%to 15%, respectively. During, the revenue of the three companies increased by less than 10%, and Shunxin Agricultural revenue increased negatively in the first half of the year. From the perspective of revenue, the revenue of 5 companies including Moutai, Wuliangye, Yanghe, Shanxi Fenjiu, and Luzhou Laojiao all revenue exceeded 10 billion yuan, which were 59.44 billion yuan, 4122 billion yuan, 18.91 billion yuan, 153.3, 153.3亿元、116.6亿元；营收超过10亿元但不足百亿元的有11家，分别是古井贡酒、顺鑫农业、舍得酒业、酒鬼酒、迎驾贡酒、口子窖、水井坊、老白干酒、金徽酒、伊力特和今世缘，分别为90.02亿元、65.19亿元、30.25亿元、25.37亿元、25.30亿元、22.97亿元、20.74亿元、20.26亿元、12.26亿元、 1.133 billion yuan and 4.646 billion yuan; the other four companies revenue less than 1 billion yuan, namely Tianyou Dejiu, Rock Stock,*ST Huangtai and Golden Seed Wine. From the perspective of net profit performance, the net profit of Lao Baiqian wine and*ST Huangtai has doubled during the reporting period, with a year -on -year increase of 191.42%and 124.62%; Between%, the net profit of the two companies increased to single digits. The net profit of three companies including Yilitte, Shunxin Agriculture, and Shuijingfang fell 39.45%, 91.59%, and 2%, respectively. It is worth mentioning that among the 20 companies' total revenue of 185.35 billion yuan in the above 20 companies, Guizhou Maotai and Wuliangye's revenue accounted for 57.5%; in the net profit of 70.136 billion yuan, Guizhou Moutai net profit was 29.793 billion yuan, and Wuliangye net profit was For 15.098 billion yuan, the net profit of the two companies had a total of 44.891 billion yuan, accounting for 64%. From the perspective of making money, Guizhou Moutai ranked first with a daily profit of 165 million yuan; followed by Wuliangye, the company made 84 million yuan a day in the first half of the year. In the first half of this year, while most wine companies have achieved dual growth in revenue and net profit, the industry's head and end differentiation are further intensified, and the net cash flow performance generated by listed wine companies can be seen. According to statistics from the "Securities Daily" reporter, the total net cash flow of 20 companies in the first half of the year was 11.419 billion yuan, and the amount in the same period last year was 38.919 billion yuan, a year -on -year decrease of 70.65%. Controlled the inventory or become the first task of most wine companies. The industry's polarization intensified "From the perspective of the performance of liquor in the first half of the year, the trend of strong strong and weak people in the liquor industry is becoming more and more obvious." Xiao Zhuqing, chairman of Wuhan Jingkui Technology Co., Ltd. told the Securities Daily reporter The brand has obtained more channel resources and consumer resources through the brand effects accumulated for decades, and continuously controlling price increases and expanding marketing influence. The sauce faucet Moutai, strong aroma dragon head Wuliangye, and fragrant leader Shanxi Fenjiu have good performance during the reporting period, and regional wine companies are facing greater survival pressure. Although 80 % of the company achieved performance in the first half of this year, a positive response did not give in the capital market. From the perspective of the number of reports and reports released by securities firms, capital is still favored by the industry's head enterprises and some regional wine companies. Oriental Fortune Choice data shows that from January 1st to August 30th, 2022, 17 of the 20 companies above were released by the brokerage agency. The company received more than 100 reports; 7 companies including Shuijingfang, Yanghe, Gujing Gong, Luzhou Laojiao, Li Lijiao, and Kouzi Cellar received 50 to 99 reports; 6 companies received 1 to 50 reports, and Tianyou, Tianyou, and Tianyou The brokerage reports of the three companies of Dejiu, ST Huangtai and Rock Co., Ltd. were reported.

In Cai Xuefei's view, the strong regional wine wine is developing towards the pan -nationalized wine company, occupying the secondary and high -end consumer markets; disadvantaged companies are squeezed by first -line wine and strong wine companies in the stock competition. Implement brand innovation and channel transformation as soon as possible to achieve brand value improvement and product structure upgrade. Talking about the opportunities and challenges brought by the new round of cycle to the liquor industry, Lu Xianxun, general manager of Haina Institution, believes that differentiation and concentration are the opportunities and challenges of the new cycle of Chinese liquor, and differentiation is the main feature. "The sales, income, and profits of Chinese liquor are concentrated in superior production areas, new and old wines, and concentrating to national brands, large enterprises, and large items are long -term trends, and under the guidance of the" national unified market ", the liquor industry is concentrated. The speed of transformation will be further accelerated, and the entry threshold for the liquor industry will be further improved. "Lu Xianxun said. Cai Xuefei said that in the second half of the year, the liquor industry faced many challenges such as high channel inventory and market demand. In addition to the star products of front -line wine companies, most wine companies that implement product structure upgrades will face the problem of product sales and stable prices. Recommended reading

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Picture ｜ Bag Picture Network Station Cool Hero Production | Liu Zhizhi

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