Shede Liquor once again demonstrated to the market the steadiness and tenacity of the development path of "Shede characteristics".
Text | Selling Wine Wolf Team
Ed southerly
On April 25, Shede Liquor disclosed its first quarter report for 2024. During the reporting period, during the period of January ~ March this year, the listed company achieved an operating income of 2.105 billion yuan, a year-on-year increase of 4.13%, and a net profit of 550 million yuan, which was basically the same as the same period in 2023 and slightly decreased.
It is understood that the revenue growth is mainly due to the implementation of the old liquor strategy of Shede Liquor, and behind the slight decline in net profit is the "three pillars" represented by production capacity improvement, product research and development, and market cultivation.
According to the words of industry insiders, the old liquor strategy of "stabilizing the fundamentals and going through the liquor cycle" is the long-term strategy of Shede Liquor, but on the road of "planning for the long term" of Shede Liquor, production capacity, products and markets are also the top priorities.
At present, only this kind of development method that goes hand in hand can give the market more surprises in 2024, which is full of uncertainties, and fully demonstrate the stability and tenacity of the development path of "willing to dedicate characteristics".
1
Deeply cultivate old wine and achieve good results!
As of 2023, China's liquor production has declined for the seventh consecutive year. From 2017 to 2022, the output of liquor above the designated size was 11.981 million kiloliters, 8.712 million kiloliters, 7.859 million kiloliters, 7.407 million kiloliters, 7.156 million kiloliters and 6.712 million kiloliters respectively.
And compared with the peak of 13.584 million kiloliters of liquor production in 2016, the output of liquor in 2023 has been reduced by more than half.
Some industry experts have publicly stated that China's wine industry is facing various difficulties such as shrinking demand, oversupply, increasing inventory, and weakening expectations, and the market is facing pressure to adjust, and it is difficult to continue to rely on the price-driven growth model.
It is worth mentioning that the "all difficulties" encountered by the liquor industry so far cannot prevent Shede Liquor, which continues to cultivate the strategy of old liquor, from ushering in stable growth......
In the context of declining output, the structural growth of the industry is clear, the trend of concentration and differentiation has been further strengthened, and the output, revenue and profit are concentrated in the head, and we are willing to enjoy market dividends as the regional head wine.
With the continuous impact of consumption upgrading, the liquor industry is accelerating its return to the competitive nature of "brand + quality".
In other words, it is not enough to have the honor of famous wine, but also to hold "a bottle of good wine". In the domestic market, where "wine is the fragrance of aging" is widely spread, old wine can best demonstrate the outstanding quality.
As a pioneer in ecological liquor, based on the leading advantage of high-quality old liquor reserves, in 2019, Shede Liquor took the lead in proposing the old liquor strategy in the industry.
Through the first introduction of "double vintage" (jar storage time + bottling time) to identify products, the establishment of a dynamic wine aging system, the export of old liquor culture and other measures, Shede Liquor has promoted the marketization process of altar storage old liquor and won the trust of consumers.
The "underlying logic" of the sustainable and high-quality development of Shede Liquor Industry firmly implements the strategy of old liquor. It should be noted that Shede Liquor has publicly stated more than once that "the old liquor strategy has become the foundation of Shede Liquor Industry's quality and the core of differentiated competition, providing a strong impetus for the company's operation." "The revenue growth in the first quarter of 2024 is also indispensable to the trust and favor of consumers won by the old wine strategy for Shede Liquor.
2
More investment and long-term planning!
Entering 2024, superimposed by multiple pressures such as the slow recovery of the macroeconomy, the slow recovery of the consumer market and the deep adjustment of the industry, the instability and uncertainty of the development of liquor enterprises continue unabated.
In this context, seeking "stability" and "tenacity" for development and stabilizing the fundamentals have become one of the priority strategies of wine companies.
It should be noted that the "stability and tenacity" of Shede Liquor Industry is not only reflected in the implementation of the old liquor strategy, but also in the continuous consolidation of the foundation, one is to consolidate the product foundation, including "production capacity improvement, product research and development".
In the first quarter of this year, Shede Liquor continued to increase investment in science and technology, with R&D expenses of 28.57 million yuan, a year-on-year increase of 72%.
At the same time, in order to enhance the company's production and storage capacity of raw liquor and improve the strategic quality foundation of old liquor, Shede Liquor will start the construction of production and capacity expansion projects in 2022. After the completion of the project, it is expected to increase the annual output of raw liquor by about 60,000 tons, increase the storage capacity of raw liquor by about 342,500 tons, and increase the koji-making capacity by about 50,000 tons.
In the future, with the implementation of the production and capacity expansion projects one by one, the production capacity of old liquor in Shede Liquor Industry will continue to expand, which is expected to promote the expansion of the company's market share in old liquor, consolidate its leading position in the old liquor market, and lay a solid foundation for steady growth in the future.
The second is to consolidate the market, from the strong exposure of this year's "one city and two exhibitions" to the smooth holding of the third old wine festival and the old wine festival, behind a series of activities, aiming to let all parties in the market feel the development potential of Shede Liquor Industry, feel the strategic determination and strength of Shede Liquor, so that the industry is full of expectations for the current high development trend of Shede Liquor, and at the same time, shorten the distance with more consumers.
According to the words of industry veterans, if the decline in net profit is based on the long-term layout, long-term investment, and long-term adherence to the market strategy, it can be regarded as good news.
3
Three advantages, the future can be expected!
At present, relying on the core advantages of "famous wine + old wine + ecology", the future of Shede wine industry can be said to be "bright".
According to Shede Liquor's own planning, Shede Liquor will continue to adhere to the ultimate productism and in-depth consumer experience, and strive to "become a world-class liquor enterprise with leading culture, ecological sustainability and innovation drive".
From the perspective of industry insiders, famous wine is a scarce resource, and "famous wine + old wine" is even more scarce.
Because of this, the top old liquor in the Chinese liquor market, represented by Shede Liquor, which integrates ecology, culture and quality, not only conforms to the current consumption trend of "drinking less and drinking better", but also locks in the future victory in advance with a high degree of scarcity.
It is foreseeable that in the fiercely competitive liquor market in the future, Shede Liquor will "ride the wind and waves" to gain more honors and recognition, and firmly move from the region to the whole country.
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