Liquor stocks have always been regarded as a model of value investment, Guizhou Moutai and Wuliangye are good examples, it should be said that the liquor stocks in the superior students, but there are also some liquor stocks that are poor students at first, and later after asking tutors to make up for the performance of the class, there are also, drunkard liquor is one of them, before COFCO Group took over, it is an obscure little white, perennial losses, reputation is not guaranteed. But after a period of capital operation, we ushered in a long-lost spring, not only the performance statement, the stock price is also cloudy, what inspiration does the capital operation of the drunkard give us?
01. The performance of the drunkard liquor before being taken over by COFCO Group was a mess.
Before the liquor was taken over by COFCO in 2015, the performance can be said to be almost stagnant, with operating income of 148 million yuan in 1994, 388 million yuan in 2014, an increase of 1.6 times in 20 years, a net profit of 0.3 billion yuan in 1994, a loss of 0.97 billion yuan in 2014, and a total profit of only 893 million yuan for six years.
02, in 2012, the plasticizer storm caused the drunkard to fall into the bottom for two consecutive years of losses.
Liquor in 2007 sugar group into the ownership, of course, also brought a certain improvement in operating performance, from the debt gradually improved, to 2012 has achieved sales revenue of 1.652 billion yuan net profit of 495 million yuan, but in 2012 due to the plasticizer storm, liquor once again fell into the bottom, 2013, 2014 two consecutive years of net losses, was put on the ST hat.
03. The OEM model of liquor in the Hao Gang era is doomed to be outdated.
The meaning of OEM is OEM production, which is simply that the drunkard does not produce itself, so that other brands are produced, but the trademark of the alcoholic liquor is used. This approach is conducive to increasing brand value, but it is not conducive to establishing its own integrated marketing channels. There are many OEM manufacturers, low thresholds, and complex products, which is not conducive to building core brands. At present, liquor companies pay more attention to in-depth distribution and flat management. Since COFCO took over, Hao Gang left the drunkard liquor, and an era is over, but can the drunkard liquor turn over?
04. After COFCO took over, it deepened reform and focused on leading products.
COFCO has been carrying out drastic reforms since it took over the drunkenness of alcoholics. Raise the OEM threshold, compress the number of products, strictly control the development of leading brands of internal ginseng liquor and liquor, and firmly terminate products that damage the leading brands. In addition, it also comprehensively sorts out the products, clarifies the structure, and accurately promotes them, and strives to beat out the brand of alcoholic liquor. Not only in the local market intensive cultivation, but also vigorously promote the marketing promotion of other provinces and cities. Refine your marketing channels with network sinking channel segmentation.
05. The first two months of 2022 will be a good start.
In the first two months of 2022, the liquor achieved a total operating income of 1.4 billion yuan, a sharp increase of 120% year-on-year. Achieved a net profit of 465 million yuan, a sharp increase of 130% year-on-year. All exceeded expectations. The internal ginseng wine series, the alcoholic wine series, and the Xiangquan series are in full bloom. COFCO has made "Drunkard Liquor" one of its five key development brands. Strive to break through the grand goal of 3 billion, leapfrog 5 billion, and move towards 10 billion. ”
Since COFCO took over, Liquor has achieved six consecutive years of double-digit high growth, with operating income increasing from 388 million yuan in 2014 to 1.826 billion yuan in 2020, and net profit increasing from a loss of 97 million yuan in 2014 to a profit of 915 million yuan in 2021. It is expected that the alcoholic wine can continue to be brilliant.