Today's revenue in the first half of the year was nearly 6 billion yuan.
Text | Selling Wine Wolf Team
ed. | southerly
On August 28, Jinshi Yuan released its 2023 half-year report, and the company achieved operating income of 5.969 billion yuan in the first half of the year, a year-on-year increase of 28.47%; The net profit was 2.05 billion yuan, a year-on-year increase of 26.70%.
According to the plan previously announced by this world, the total operating income will be about 10 billion yuan in 2023, and with the announcement of double-digit growth in revenue and net profit in the first half of the year, the annual target of 10 billion yuan is highly certain. But this does not mean smooth sailing.
A
Headwinds "remain"
First of all, the macroeconomic environment directly affects the consumption capacity of residents and indirectly affects the consumption demand of liquor, and the macroeconomic trend is uncertain.
Although there are many reports in the market that are favorable to economic development, such as "consumption continues to recover", "China's economic resilience is still sufficient, the core contradictions are expected to be alleviated before the end of the year", "six aspects, look at the overall improvement of China's economic macro indicators", etc., but a closer look will find that such reports often focus on "long-term and future", which roughly means that it will definitely "get better" in the future.
However, everything from the successive defeats in real estate to the decline in the scale of market investment seems to make it difficult to sell alcohol. Up to now, the feedback from the market is still "money is hard to earn", and the sales volume of various famous wines has not increased significantly.
Secondly, the liquor consumption environment faces the challenge of alternatives such as beer, wine, health wine and fruit wine. According to the current world, the consumption of liquor is likely to decline, which may make it more difficult for the company to further expand the market.
As we all know, since the outbreak of the pandemic, "How to be healthier? It has become a national topic, and the products closely related to the people, wine is naturally given the expectation of "drinking healthier". From the perspective of the characteristics of the product itself, compared with wine and rice wine, it is obviously difficult for liquor to have more room to play.
Of course, there are challenges and opportunities, and the performance of this world in the first half of 2023 is enough to prove that high-quality mid-to-high-end liquor is still the "favorite" of many consumers, and the trend of consumption upgrading still exists.
In terms of products, the revenue of special A+, special A and A products in the first half of 2023 was 3.818 billion yuan, 1.758 billion yuan and 226 million yuan, respectively, a year-on-year increase of 25.56%, 36.86% and 28.34%. Class B products achieved revenue of 83.9452 million yuan, a year-on-year increase of 9.55%; Class C and Class D achieved revenue of 47.617 million yuan, a year-on-year increase of 1.87%; Other products achieved revenue of 4.3349 million yuan, down 20.21% year-on-year.
B
"Going out" is the goal!
It is also worth mentioning that from the regional division of the main business, Jiangsu Province is still the main force of revenue, with revenue of 5.498 billion yuan in the first half of this year, an increase of 27.36% year-on-year; Revenue outside the province was nearly 439 million yuan, a year-on-year increase of 40.44%.
In the semi-annual report, Jinshi Yuan said that Jiangsu is still the most important market for the company, if the competition in the Jiangsu market intensifies or the consumer demand for liquor declines, and the company fails to expand other markets in a timely and effective manner, it will have an adverse impact on the company's production and operation activities, thereby affecting the realization of strategic goals.
That is to say, although this world has delivered an excellent "report card" in the first half of 2023, if it is affected by the poor macro environment, intensified industry competition, and hindered expansion outside the province, it is difficult to successfully achieve the revenue target of 10 billion yuan in 2023, but this possibility is not high.
A number of interviewed industry insiders unanimously believe that there is no big problem in achieving the goal of 10 billion yuan, and 2023 is bound to become a year of a new starting point for Shiyuan.
On the one hand, in the second half of the year, with the arrival of consumption seasons such as Mid-Autumn Festival and National Day, the consumption heat of liquor will continue to increase; On the other hand, from the current development trend, whether in Jiangsu Province or its long-reformed outside the province, Shiyuan is achieving a new breakthrough in brand power. In the past, there was a peak season market to escort sales, and then there was brand power to endorse quality, and the tens of billions in this world are relatively stable.