Text | HuaShang Tao Strategy Zhou Rong
Moutai Town is well-deserved "China's first wine town", the former "stock king" Guizhou Moutai existed here, Moutai belt flew the entire Moutai town production area, and together with Langjiu, Xijiu to expand China's Chishuihe sauce wine production area, the achievement of trillion-level sauce xiang valley.
However, Moutai Town, which plays an important role in the sauce wine industry chain, is facing a major reshuffle.
In addition to the well-known Moutai, there are more than 400 registered enterprises producing wine in Moutai Town, and the number of other small workshops can reach 3,000.
Once upon a time, whether it was a large factory or a small workshop, it became a fragrant feast in the eyes of capital, and there were many enterprises that had nothing to do with liquor in their own industry, trying to make a lot of money by taking advantage of the east wind of sauce and wine.
In June this year, two listed companies, Zhongxing Mushroom Industry and Jihong Shares, successively announced that the company would cross-border "buy drunk".
Zhongxing Mushroom Industry has taken a fancy to the Holy Cellar Wine Industry, and Jihong Shares has set its sights on Diaoyutai Tribute Wine. Both companies' shares rose consecutively to a new high due to a notice.
At that time, the heat of liquor was evident.
This should have been a good deal with a good return, but both companies announced the termination of the acquisition on this year's Chongyang Festival, explaining the macro environment problems.
There are not only these two companies that want to rub the light of sauce and wine, but also the correction pharmaceutical industry that sells medicine, the giant of Shi Yuzhu, the Hainan Coconut Island that makes medicinal wine, and the Shuijingfang that makes strong fragrance...
But the threshold for rubbing is getting higher and higher.
"Dragon Boat Festival, Chongyang under the sand", according to the tradition, this year's Chongyang was an important day to open the production cycle in 2022, but some wineries did not have the opportunity to enter a new round of production cycle.
On August 20 this year, the Price Supervision and Competition Bureau of the State Administration for Market Regulation held a symposium on how to control the high prices of capital hunting sauce wine and Moutai wine.
On August 26, the relevant leaders of Renhuai, where Moutai Town is located, proposed to carry out a "slimming revolution" for the liquor industry on the comprehensive management of the liquor industry. The relevant documents also pointed out that the total number of liquor companies in the city (Renhuai) should be significantly reduced, and the target is directed at more than 600 small and weak liquor companies.
In this governance action, the entire town of Moutai ushered in a major reshuffle, many wineries in Moutai Town were shut down, and small workshops were demolished. Some rubbing Moutai IP to do inferior "broken sand" (compared to the "Kunsha" of Moutai and Langjiu, inferior raw materials) have not been spared.
Many enterprises have changed from "hunting" sauce wine to dismal departures. Compared with the high point in June, the stock price of Zhongxing Mushroom Industry has fallen by more than 50%, and Jihong shares have also fallen by nearly 50%, and the light of "dipping wine will rise" has not been stained for long.
The great reshuffle in Moutai Town is of far-reaching significance to the development of the liquor industry, which is a challenge but also an opportunity.
The quality of sauce wine depends on the accumulation of time. Moutai needs to be put out of the factory for 5 years to be qualified, and the high-end qinghualang of Langjiu has been raised to 7 years for the threshold of time.
Therefore, such a "time" business as sauce wine, the moat can not be broken by capital investment, and the long cycle of more than 5 years means that good sauce wine is not a good business to make quick money. In recent decades, you have come and gone by the Chishui River, and those liquor companies that smell the wind have rarely had a good death, and those who stay and do well are long-termists who can withstand loneliness.
Taking Langjiu as an example, this liquor company has also had ups and downs in the past twenty years, experienced a golden decade of liquor, and also experienced a depression in the industry, only to wait for the strength of the sauce wine boom in recent years.
However, regardless of whether the market is booming or not, Langjiu is adhering to long-term investment, and has continued to invest tens of billions of yuan to build Langjiu Estate for thirteen years, consolidating its unique positioning of "Manor Sauce Aroma", and making a difference with the big brother Moutai; eight years in the Wujiagou Ecological WineMaking Zone, in the Chishui River Wine Valley, which is about to reach the "production capacity ceiling", let its base wine production capacity go one step further. At the same time, in recent years, Langjiu has been storing new liquor to control sales, using the "slow sales" method to accumulate the advantages of old wine time, and only then has the courage to store for 7 years to be a blue and white lang.
From this point of view, the industry boom retreats to the washing is necessary, I hope that in the future can appear more high-quality liquor companies similar to Maotai and Langjiu, relying on the different characteristics of their own enterprises to jointly expand the liquor industry.
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