Say goodbye to the old and welcome the new, and announce the good news at the end of the year. On the evening of December 31, Guizhou Moutai (600519) issued an announcement on the production and operation of 2021, and after preliminary accounting, it is expected to achieve a total operating income of about 109 billion yuan and a net profit of 52 billion yuan.
The above performance expectations will mean that the total revenue of Moutai in Guizhou will exceed the mark of 100 billion yuan for the first time, and the operating income and net profit will achieve a year-on-year increase of more than 11%, which will exceed the business target of 10.5% year-on-year growth in total operating income in 2021.
It should be pointed out that in 2021, the output of Moutai in Guizhou has increased significantly. Among them, the production of Moutai liquor base wine is about 56,500 tons, an increase of more than 12% year-on-year. From the perspective of the capital market, throughout the whole year of 2021, the stock price of Guizhou Moutai began from 1980.69 yuan to 2050 yuan, and the range stock price rose by 3.5%, remaining stable.
Moutai liquor production increased year-on-year
In recent years, the operating performance of Guizhou Moutai has continued to grow steadily, and the total operating income of listed companies in 2020 was 97.993 billion yuan, an increase of 10.29% year-on-year; the net profit attributable to the mother was 46.697 billion yuan, an increase of 13.33% year-on-year.
During the period from 2017 to 2019, the performance of Guizhou Moutai grew rapidly, achieving operating income of 61.06 billion yuan, 77.2 billion yuan and 88.85 billion yuan respectively, an increase of 52.07%, 26.43% and 15.1% year-on-year; and net profit of 27.22 billion yuan, 35.2 billion yuan and 41.21 billion yuan, respectively, with a year-on-year increase of 61.97%, 30% and 17.05%.
According to the latest announcement, in 2021, Guizhou Moutai produced about 56,500 tons of Moutai liquor and about 28,200 tons of series liquor; it is expected to achieve a total operating income of about 109 billion yuan (of which the operating income of Moutai liquor is about 93.2 billion yuan and the operating income of series liquor is about 12.6 billion yuan), an increase of about 11.2% year-on-year; it is expected to achieve a net profit of about 52 billion yuan, an increase of about 11.3% year-on-year.
Securities Times e company reporter noted that from the product point of view, the annual output of Guizhou Moutai wine in 2020 was 50,200 tons, which was only 0.63% year-on-year at that time; compared with the latest disclosed 56,500 tons, the output of Moutai liquor in 2021 increased by 12.55% year-on-year, which was mainly used for brewing Feitian Moutai products. In terms of Moutai series of wines, the output in 2020 was 24,900 tons, down 0.78% year-on-year; compared with the 2021 series of wine-based wines of 28,200 tons, the category of products increased by 13.25% year-on-year, mainly representing the brands Oftai Prince Wine, Han Sauce Wine, and Laimao Wine.
It should be pointed out that Guizhou Moutai needs to retain a certain amount of base wine every year, according to the Moutai wine process, the Moutai wine produced in that year can be sold for at least five years. In fact, Moutai wine is made of different vintages, different rounds, and different concentrations of base wines mixed with each other, so the base wine of a certain year may appear as a product in the next few years.
The increase in the production of Moutai liquor is mainly due to the completion of technical transformation projects. The "13th Five-Year Plan" Moutai wine technical transformation project was fully put into operation, with a new design capacity of 4,032 tons of Moutai wine-based wine; a 30,000-ton sauce-flavored series of wine technical transformation projects was promoted in an orderly manner, with a new series of wine-based wine design capacity of 4,015 tons; and a fixed asset investment of 2.172 billion yuan was completed.
Due to the production process characteristics of Moutai wine, the design capacity of 4032 tons of Moutai wine base wine was put into operation in October 2020, and the actual production capacity was released in 2021. In addition, the design capacity of the series wine workshop is 25260 tons, due to the production process characteristics of the series wine, the design capacity of the 4015 tons series wine base wine will be put into operation in November 2020, and the actual production capacity will also be released in 2021.
The stock price stood firm at the 2,000 yuan mark
After the end of the last trading day in 2021, the total market value of Guizhou Moutai reached 2.58 trillion yuan, continuing to sit firmly in the "top spot" of the A-share market.
A year ago (December 31, 2020), Guizhou Moutai stock price hit a record high of 1979.69 yuan / share at that time; after entering 2021, Guizhou Moutai upward impact was not reduced, on January 5, it broke through the 2000 yuan / share mark, and on February 18, the stock price soared to 2608.59 yuan / share, once again refreshing the record.
Then, Guizhou Moutai fell back to the shock, during July, August, September, the stock price once fell to 1600 yuan / share hovering, the maximum drawdown per share of 1083 yuan, the range fell by more than 42%, the market value evaporated 1.36 trillion yuan. After mid-November, Guizhou Moutai equity bottomed out in stages, and by the close of trading on December 31, the stock price returned to 2,000 yuan and closed at 2,050 yuan per share, with a total market value of 2.58 trillion yuan.
In the third quarter of 2021, Guizhou Moutai also ushered in a major moment of coaching, according to the relevant documents of the Guizhou Provincial People's Government, Ding Xiongjun succeeded Gao Weidong as the new "leader" of Guizhou Moutai, while Gao Weidong only steered Guizhou Moutai for less than a year and a half.
As the new helmsman of Guizhou Moutai, Ding Xiongjun, a post-70s university, continued to study for a master's and doctoral degree after graduating from Wuhan University, and has since worked in Guizhou, where he previously served as the party secretary and director of the Guizhou Provincial Energy Bureau.
On September 24 this year, Guizhou Moutai held the first extraordinary shareholders' meeting of 2021, and Ding Xiongjun, who appeared for the first time in his new identity, gave a speech with the theme of "Let quality become faith, let history verify the future", sending a signal to shareholders and shareholder representatives about the direction of the future development of the enterprise. Guizhou Moutai will actively promote the reform of the marketing system and price system, focus on standardizing the original channels, explore the development of new retail channels, optimize the brand price system; strive to return Moutai wine to commodity attributes, maintain a tight balance between supply and demand of Moutai wine; and promote digital empowerment, establish a CRM system, and provide consumers with equal opportunities.
According to the research report released by Huaxin Securities on December 25, the current batch price of Moutai scattered grass in Guizhou is maintained at more than 2500 yuan, and the batch price of whole mao is maintained at more than 3000 yuan, compared with the highest price of 3800 yuan, which has dropped significantly. With the inauguration of the new marshal Ding Xiongjun, Moutai has taken the initiative to sort out the market and channels, and recently proposed not to forcibly unpack 6 bottles of Moutai and launch 12 bottles of Moutai for unboxing.
The price of whole mao has dropped significantly, and the price difference with loose grass has narrowed significantly, and the whole mao 6 bottles are not in the compulsory unpacking will better meet the consumption group's collection and drinking needs. Huaxin Securities believes that with the advent of the Spring Festival in 2022, considering the superposition of Moutai financial attributes and the storage of new and old factors, the batch price of Moutai in Guizhou will fluctuate above 2500 yuan, and the price difference between whole Mao and Loose Mao will be further narrowed. According to the 14th Five-Year Plan, Moutai Company will form a production capacity of 56,000 tons of Moutai wine and 56,000 tons of series wine. This means that the future sales volume of Guizhou Moutai will not exceed 60,000 tons, and its scarcity attribute will still exist for a long time.