Home Business Revenue and net profit rose, leading wine companies welcomed a good start

Revenue and net profit rose, leading wine companies welcomed a good start

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Original title: Net revenue and profit rose, leading wine companies welcomed a good start

In the first quarter of this year, despite the repeated epidemics, listed liquor companies still achieved a good start. Industry insiders believe that the current round of the epidemic is in the off-season of the liquor industry and has little impact on the annual operation of liquor companies. The liquor industry is rapidly developing in the direction of famous liquor, and leading liquor companies are the direct beneficiaries of consumption upgrades.

● Our reporter Gao Jiachen

Outstanding performance of leading wine companies

Liquor companies have achieved good results in 2021, and the leading wine companies are even more dazzling.

Kweichow Moutai will achieve operating income of 106.19 billion yuan in 2021, a year-on-year increase of 11.88%, and the revenue will exceed the 100 billion yuan mark for the first time; the net profit attributable to the parent is 52.460 billion yuan, a year-on-year increase of 12.34%; the deduction of non-net profit is 52.581 billion yuan, a year-on-year increase. An increase of 11.84%. For the 2022 development goal, the company proposed that the operating income should increase by about 15% compared with the previous year, and the capital construction investment would be 6.969 billion yuan.

In 2021, Wuliangye achieved operating income of 66.209 billion yuan, a year-on-year increase of 15.51%; net profit attributable to the parent was 23.377 billion yuan, a year-on-year increase of 17.15%. The company said that in 2022, it will strive to maintain a steady double-digit growth in operating income.

Luzhou Laojiao will achieve operating income of 20.642 billion yuan in 2021, a year-on-year increase of 23.96%; net profit attributable to the parent of 7.956 billion yuan, a year-on-year increase of 32.47%. Among them, the sales revenue of middle and high-end wine was 18.397 billion yuan, a year-on-year increase of 29.22%, accounting for 89.12% of the operating revenue, and 85.49% in the previous year. The sales revenue of middle and high-end wine increased, and the gross profit margin increased to 90.34%. The company proposes to strive for a year-on-year increase of no less than 15% in operating income in 2022.

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In 2021, Yanghe Co., Ltd. will achieve an operating income of 25.35 billion yuan, a year-on-year increase of 20.14%; and a non-net profit of 7.373 billion yuan, a year-on-year increase of 30.44%. In 2022, the company’s operating goal is to increase operating income by more than 15% year-on-year.

Jiuguijiu will achieve operating income of 3.414 billion yuan in 2021, a year-on-year increase of 86.97%; deduct non-net profit of 886 million yuan, a year-on-year increase of 101.5%. The company said that through a series of business measures, it will achieve “super-historical, super-industry, super-budget and super-expected” operating results in 2021.

According to the Minsheng Securities Research Report, the overall revenue of listed liquor companies in 2021 will be 305.55 billion yuan, a year-on-year increase of 18%. From 2016 to 2021, the compound annual growth rate will reach 18.5%, and the industry will continue to be prosperous. From the perspective of the high-end liquor market, Kweichow Moutai, Wuliangye, and Luzhou Laojiao achieved steady growth; Shanxi Fenjiu, Shede Liquor and Jiugui Liquor in the sub-high-end liquor market benefited from the national layout and achieved rapid growth; regional leading liquor companies Yanghe Co., Ltd., Gujing Tribute Liquor, Jinshiyuan, etc. benefited from the upgrade of product structure and achieved high-quality growth.

Big cash dividends

In terms of cash dividends, wine companies have “spend money”, and the dividends of leading wine companies account for half or more of their net profits.

According to the annual report, Kweichow Moutai plans to distribute cash dividends of 21.675 yuan (tax included) to all shareholders of the company for every 10 shares based on the total share capital of 1.256 billion shares at the end of 2021. The expected distribution of profits is 27.228 billion yuan, and the remaining 133.489 billion yuan is reserved for future annual distribution. . From 2017 to 2020, Kweichow Moutai’s cash dividends were 13.817 billion yuan, 18.264 billion yuan, 21.387 billion yuan, and 24.236 billion yuan, increasing year by year.

Wuliangye plans to distribute a cash dividend of 30.23 yuan (tax included) for every 10 shares, and is expected to distribute a total of 11.734 billion yuan in cash. From 2016 to 2020, Wuliangye achieved net profits of 6.785 billion yuan, 9.674 billion yuan, 13.384 billion yuan, 17.402 billion yuan, and 19.955 billion yuan respectively; cash dividends were 3.416 billion yuan, 5.046 billion yuan, 6.599 billion yuan, 8.54 billion yuan and 10.015 billion yuan.

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Luzhou Laojiao plans to distribute a cash dividend of 32.44 yuan (tax included) for every 10 shares, and the total cash dividend is expected to be 4.774 billion yuan.

Yanghe Co., Ltd. plans to distribute a cash dividend of 30 yuan (tax included) for every 10 shares, and is expected to distribute a total of 4.519 billion yuan (tax included) in cash. Yingjia Gongjiu plans to distribute a cash dividend of 9 yuan (tax included) for every 10 shares, and is expected to distribute a total of 720 million yuan in cash. Jiuguijiu plans to distribute a cash dividend of 13 yuan (tax included) for every 10 shares, and is expected to distribute a total of 422 million yuan in cash.

Demand is expected to pick up

In the first quarter of this year, the epidemic situation repeated, and the industry was under pressure, but the top wine companies withstood the pressure and ushered in a good start, laying the foundation for achieving the annual business goals.

In the first quarter of this year, Kweichow Moutai achieved operating income of 32.296 billion yuan, a year-on-year increase of 18.43%; net profit attributable to the parent was 17.245 billion yuan, a year-on-year increase of 23.58%. The performance exceeded expectations and hit a record high in a single quarter.

In the first quarter of this year, Wuliangye achieved operating income of 27.548 billion yuan, a year-on-year increase of 13.25%; net profit attributable to the parent company was 10.823 billion yuan, a year-on-year increase of 16.08%. Luzhou Laojiao achieved operating income of 6.312 billion yuan in the first quarter of this year, a year-on-year increase of 26.15%; net profit attributable to the parent was 2.876 billion yuan, a year-on-year increase of 32.72%.

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In the first quarter of this year, Yanghe achieved an operating income of 13.026 billion yuan, a year-on-year increase of 23.82%; a net profit attributable to the parent company of 4.985 billion yuan, a year-on-year increase of 29.07%; and a non-net profit of 4.898 billion yuan, a year-on-year increase of 28.53%. Zheshang Securities believes that Yanghe’s “Dream Blue M6+” has a good dynamic sales feedback, and Shuanggou products have strong dynamic sales, becoming the second growth pole of Yanghe shares.

Jiuguijiu achieved operating income of 1.688 billion yuan in the first quarter of this year, a year-on-year increase of 86.04%; net profit attributable to the parent was 521 million yuan, a year-on-year increase of 94.46%. The company said that under the background of repeated epidemics and intensified competition in the industry, Jiuguijiu’s profitability and high-quality development have become more and more dazzling.

Huachuang Securities believes that the outbreak of the current round of the epidemic is in the off-season of the liquor industry and has little impact on the whole year. With the improvement of the epidemic situation and the implementation of stable growth policies, demand is expected to pick up. Liquor industry analyst Cai Xuefei told reporters that the liquor industry is rapidly developing in the direction of famous liquor, and the top liquor companies have achieved high growth in revenue and profits. “At the same time, alcohol consumption is developing in the direction of production areas and quality. For example, the sauce wine represented by Maotai, the strong fragrance represented by Wuliangye, the fragrance represented by Fenjiu, the Fuyuxiang represented by Jiugui wine, etc. In fact, it is the characteristics of wine quality and the extension of personalized consumption.” Cai Xuefei said that leading wine companies are the direct beneficiaries of consumption upgrades.Return to Sohu, see more

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