Yanjing Beer's 2023 revenue hit a record high.
Text | Selling Wine Wolf Team
Ed southerly
A few days ago, Yanjing Beer released its 2023 annual report, achieving revenue of 14.213 billion yuan, a year-on-year increase of 7.66%, and a net profit of 645 million yuan, a year-on-year increase of 83.02%, the highest net profit growth rate since 1995. It should be noted that the net profit in 2023 will reach 645 million yuan, exceeding the total net profit of the past two years.
A
Yanjing Beer handed over a "V" shaped reversal report card
Yanjing Beer used to be one of the largest beer conglomerates in China, ranking first in the beer industry. However, in recent years, the performance growth has been sluggish, and its revenue, net profit, and growth rate have lagged far behind Tsingtao Beer and China Resources Beer, and it has actually fallen out of the first echelon.
Since 2013, Yanjing has achieved revenue of 13.748 billion yuan, hitting a historical high in the stage, and then it has been declining. In recent years, Yanjing Beer has been hovering around 11 billion yuan, and in 2021, it will grow to 11.961 billion yuan.
▲ Yanjing Beer Chairman Geng Chao
In May 2022, Geng Chao, the new chairman of Yanjing Beer, took office and adjusted the top management, putting forward the slogan of "Second Entrepreneurship and Revival of Yanjing", saying that the transformation will be completed by 2025. In the context of "rejuvenation", the "14th Five-Year Plan" (2021~2025) is defined as a period of strategic restructuring by Yanjing Beer, and the core direction is to achieve rapid growth every year.
According to Geng Chao's statement, Yanjing's goal in the 14th Five-Year Plan is "five battles and five victories", and it will grow rapidly every year, one step a year, and achieve five years of continuous fast running. This anchoring is obviously above the average for the beer industry, but it really delivers a "V" shaped reversal.
"Speak with achievements and achieve four consecutive years of growth!" Yanjing's performance successfully achieved a "V" reversal. According to statistics, Yanjing's total revenue in 2020 was 10.928 billion yuan, 11.961 billion yuan in 2021, 13.202 billion yuan in 2022, and 14.213 billion yuan in 2023, and the net profit attributable to the parent company increased from 197 million yuan to 645 million yuan in the same period......
"With the industry speed more than sales. According to data from the National Bureau of Statistics, in 2023, the annual beer output of domestic beer enterprises above designated size will reach 35.555 million kiloliters, a year-on-year increase of 0.3%. In comparison, Yanjing Beer will achieve beer sales (including custodian enterprises) of 3,942,400 kiloliters in 2023, a year-on-year increase of 4.57%, faster than the industry growth rate.
"It's faster than it's up to your opponents. "In 2023, CR Beer's beer sales will increase by only 0.5% year-on-year, and the net profit attributable to the parent company will increase by 18.6% year-on-year. Another local giant, Tsingtao Beer, will achieve operating income of 33.937 billion yuan in 2023, a year-on-year increase of 5.49%, and net profit attributable to the parent company will increase by 15.02% year-on-year to 4.268 billion yuan. The two are contrasted, and the superiority is immediate.
B
Yanjing Beer is "overtaking in the corner", which is worth looking forward to!
At present, whether compared with domestic economic data or industry data, Yanjing Beer's performance can be described as "excessively" prominent. The successful breakthrough under the contrarian trend is enough to prove that Yanjing Beer has the strong strength of "corner overtaking".
On the one hand, in 2023, Yanjing Beer will focus on the "14th Five-Year Plan" development plan, actively adapt to the needs of marketization, modernization and international development, break the old situation and welcome new opportunities, continuously strengthen the functions of the headquarters, and continuously promote the transformation of business fields such as production, marketing, marketing and supply chain, so as to achieve the simultaneous improvement of operating efficiency, operational efficiency and development quality, and enhance the core competitiveness of the enterprise.
On the other hand, with the deepening of the high-end process of the beer track, the sales of mid-to-high-end products have gradually become one of the driving forces behind the growth of beer enterprises.
It is reported that Yanjing U8 is a new large single product launched by Yanjing Beer in 2020, which undertakes the demand for consumption upgrading with a differentiated strategy. It is reported that in 2023, the sales volume of Yanjing U8 will increase by more than 36% year-on-year, becoming the fastest growing national single product in the industry in recent years.
At the same time, Yanjing Beer has actively explored suitable new consumption scenarios, with nearly 600 "Yanjing Community Liquor Stores" across the country, and "LIONK Lion King Restaurant Bar" Sino-German Industrial Park Store and Shougang Park Store have been widely praised since their opening last year, and have quickly become new landmarks for Internet celebrity check-ins in the hearts of young consumers.
For the beer industry, 2024 is still a year of "stock game". However, from the perspective of the development trend of the entire industry, beer, as a key industry in the field of consumption, has benefited from the recovery of consumption scenarios, the fundamentals of the industry have been gradually repaired, the volume and price have risen together, the cost has fallen, and the profitability of the beer industry is improving, and it is about to usher in a new round of development opportunities. In this context, Yanjing Beer, which has made a "big breakthrough" in high-end and rejuvenation, is expected to accelerate the gap with the "first army" and return to the first echelon of the beer industry.
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