Luzhou Laojiao's half -year revenue broke the first of 10 billion yuan before the ambush, and there were chase troops

21st Century Business Herald reporter Wen Jing Chongqing report

In the liquor listed company, in addition to the "one brother" Moutai (600519.SH) and the liquor king Wuliangye (000858.SZ), the second and second stable for many years, the "third old" seats are jealous and are not stable.

On August 28, with the semi -annual report of Luzhou Laojiao (000568.SZ), the strong contender of the "Third", Yanghe Stock (002304.SZ), Luzhou Laojiao and Shanxi Fenjiu (600809.SH) half a year Both transcripts are exposed. In the first half of the year, the net profit of the operating income and belonging to the listed company's shareholders was 11.67 billion yuan and 5.5 billion yuan. In 2021, Luzhou Laojiao ranked third in the profitability of the listed company's shareholders for nearly 8 billion yuan in net profit of listed companies. Now, this chair has also given Yanghe shares.

According to the semi -annual report, in the first half of the year, Yanghe shares revenue was 18.9 billion yuan, and the net profit attributable to shareholders of listed companies was 6.89 billion yuan, which was increased by more than 20%year -on -year.

In addition to "ambush", there are also chasing troops.

In the first half of the year, Shanxi Fenjiu surpassed Luzhou Laojiao with a revenue of 15.3 billion yuan, ranking fifth in the net profit of the shareholders of listed companies for 5 billion yuan. Compared with the first half of last year, the difference between the net profit of Shanxi Fenjiu and Luzhou Laojiao in the first half of this year was further reduced from 700 million yuan to 500 million yuan.

Today, after half a year of battle, Luzhou Laojiao's ranking does not rise and fall, but it is chasing at a faster speed than the third child. Compared with the enemy Shanxi Fenjiu, the year -on -year growth rate in the second quarter is also faster.

Luzhou Laojiao entered the Ten billion club in the first half of the year

In the first half of the year, Luzhou Laojiao achieved a historic breakthrough in performance, breaking through the 10 billion yuan revenue mark and a net profit mark of 5 billion yuan.

This is mainly due to the growth of the sales of mid -to -high -end products mainly based on Luzhou Laojiao series and Guojiao 1573. According to the financial report, from January to June, the sales volume of high-end wine production in Luzhou Laojiao increased, of which 17,000 tons were sold, a year-on-year increase of 22%. However, due to the greater than sales, the inventory in the first half of this year also increased to 43,000 tons, an increase of 56%year -on -year. In this regard, Luzhou Laojiao said that the inventory was increased and the production plan was adjusted.

The year -on -year double -digit growth of mid -to -high -end wines directly drove sales revenue growth and became the main support for the first half of the year of Luzhou Laojiao. In the first half of the year, the company's mid -to -high -end wine achieved revenue of 10.3 billion yuan, an increase of 26%year -on -year, and the gross profit margin was as high as 90.37%. The semi -annual report shows that, in addition to the national high -end liquor camp of 1573 in China, Luzhou Laojiao 1952 led the Luzhou Laojiao series brand rejuvenation at a high price and image.

Among the liquor listed companies, there are not many products with gross profit margins, which are Guizhou Maotai wine, Luzhou Laojiao's mid -to -high -end wine and wine ghost wine series wine.

In addition to the growth of mid -to -high -end wine, other wines in Luzhou Laojiao achieved revenue of 1.17 billion yuan in the first half of the year, an increase of 10%year -on -year, and the gross profit margin increased by 1.9 percentage points to 49%year -on -year. The Luzhou Laojiao Tau song realizes the operation and upgrading of prices, quotas, and brands. Black -lid products start the core city layout and tasting promotion, and consolidate Luzhou Laojiao Development Tower. In response, Debon Securities released a research report on August 31 that the volume and price of the mid -to -high -end wine of Luzhou Laojiao increased, and the ton price of low -end wine increased significantly, and the gross profit margin increased steadily.

At the same time as the gross profit margin increased, the sales cost of Luzhou Laojiao increased significantly in the first half of the year. It was 1.2 billion yuan, a year -on -year increase of less than 3%, thereby thickening net profit.

In the second quarter, the seats changed

After the ambush, there were chase soldiers, and the epidemic was also troubled by the epidemic.

It can be concluded that in the second quarter, the revenue and net profit of Luzhou Laojiao increased by 24%and 30%year -on -year, respectively, and the growth rate of net profit was faster than the growth rate of revenue. During the same period, the revenue and net profit of Shanxi Fenjiu increased by 0.6%year -on -year and a year -on -year decrease of 5%. The revenue and net profit of Yanghe increased by 18%and 6%year -on -year, and the growth rate of net profit was slower than the growth rate of revenue.

From the perspective of revenue, in the second quarter, Luzhou Laojiao realized revenue of 5.37 billion yuan, higher than the 4.8 billion yuan in Shanxi Fenjiu. It can be seen that in the first half of the year, Shanxi Fenjiu seized the fourth challenge of revenue, mainly due to the first quarter of the first quarter, and realized revenue increased by 44%year -on -year. In the second quarter, it stagnated on the basis of the same period last year.

From the perspective of profit scale, in the second quarter, the net profit of Luzhou Laojiao was 2.65 billion yuan, which was more than twice the net profit of Fenjiu in Shanxi, which was 700 million yuan more than Yanghe.

Therefore, the liquor market is fiercely competitive, which can be seen from the "third child" dispute.

Just as last year, Shanxi Fenjiu was led first in the first half of the year, but it was surpassed by the revenue of Luzhou Laojiao throughout the year. In the first half of the year, Yanghe's net profit was led, and finally gave it to Luzhou Laojiao. As a result, Luzhou Laojiao's revenue and net profit rankings were promoted from fifth and fourth in the first half of the year to fourth and third in the year.

In addition to your own efforts, the ranking is also related to the status of competitors. In the second half of the year, the peak season for sales is the main battlefield of liquor competing.

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