Home » The performance of the first three quarters exceeded that of the whole year of Jiuguijiu last year: expanding production capacity to speed up the national distribution provider Cailian News Agency

The performance of the first three quarters exceeded that of the whole year of Jiuguijiu last year: expanding production capacity to speed up the national distribution provider Cailian News Agency

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The performance of the first three quarters exceeded that of the whole year of Jiuguijiu last year: expanding production capacity to speed up the national distribution provider Cailian News Agency
© Reuters. The performance of the first three quarters exceeded that of the whole year of Jiuguijiu: expanding production capacity to speed up the national layout

Financial Associated Press, October 30 (Reporter Huang Lu)Jiuguijiu (000799.SZ) maintained double-digit growth in revenue and net profit in the first three quarters, and the Q3 growth rate picked up. An insider of the company told a reporter from the Financial Associated Press that since the beginning of the year, due to the impact of the epidemic, the main consumption scenarios of liquor in some first- and second-tier cities have been missing. Jiuguijiu has taken a series of measures on the brand side, product side, price side and channel side to reduce the impact of the epidemic. Through strengthening price and market management, the company has carried out a number of product control and discontinuation, and the major series of internal reference and drunkard have maintained positive growth.

On October 30, Jiuguijiu disclosed its financial report. From January to September this year, the company achieved revenue of 3.486 billion yuan, a year-on-year increase of 32.05%, and achieved a net profit of 972 million yuan, a year-on-year increase of 34.98%. The performance has exceeded that of last year. . In the single quarter of Q3, the revenue and net profit were 949 million yuan and 254 million yuan respectively, an increase of 11.83% and 28.97% from the previous month. The cash flow balance at the end of the third quarter was 3.310 billion yuan, an increase of 27.16% over the same period last year.

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The epidemic from March to May this year has repeatedly affected the confidence and consumption atmosphere of consumers, so wine companies are facing greater pressure in the second quarter. In the second quarter, Jiuguijiu carried out appropriate control of goods, and reformed the investment of sales expenses, and turned to terminal investment to promote dynamic sales. According to company insiders, under the policy of strengthening the waist, the company established the Hongtan Business Development Department and the 54-degree Jiugui Business Development Department this year to promote the deep nationalization of Hongtan, accelerate the layout of 54-degree Jiugui, and establish a more detailed price echelon. Strive to further push up the core price band of the alcoholic series.

The data shows that in the banquet market, the number of alcoholic liquors nationwide has more than doubled, and the overall customer inventory has dropped by more than 15%. According to the above-mentioned insiders, the company adopts a flat strategy of “one district, one business, one product and one business” in the province. In the market outside the province, Jiuguijiu mainly conducts a national layout through the excellent business strategy, and uses the Jiugui series to drive the fragrant market. The atmosphere is cultivated, and the internal reference series takes the opportunity to gradually expand the high-end market. In terms of specific results, the number of dealers in Central China and North China has grown rapidly. In areas with strong consumption such as East China and South China, there will be more room for growth in the future. Achieve breakthroughs in key markets through the excellent business plan.

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He also said that the second phase of the company’s reconstruction and expansion project will be completed this year, and the first phase of the three districts will be completed in 2023. The company’s current production capacity is about 10,000 tons, and after the completion of the above projects, it will add 12,800 tons of production capacity.

The reporter noticed that during the “November” period, the sales of liquor slowed down, and the channel inventory increased. In addition, the rumors of the liquor restriction policy disturbed, and the Q4 liquor sector experienced emotional and panic-style irrational adjustments. On October 29, the China Alcoholic Drinks Association made a rare statement. It believed that in the third quarter of the recent intensive release of liquor listed companies, almost all of them achieved double-digit growth. At present, the consumption structure of liquor is stable. Gradually shifting from social scenes to household and personal consumption, the entire industry has not entered a downward channel.

According to industry analysts, as the Spring Festival is approaching, business banquets and year-end dinners and other scenarios increase, the liquor terminal market will be released to a large extent, and the liquor market will continue to grow in Q4.

(Editor Liu Yan)

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