On April 27, Yanghe released its 2023 annual report and 2024 first quarter report.
Specifically, in 2023, Yanghe Co., Ltd. will achieve operating income of 33.126 billion yuan, a year-on-year increase of 10.04%; net profit attributable to shareholders of listed companies was 10.016 billion yuan, a year-on-year increase of 6.8%. At the same time, Yanghe also released the first quarter report of 2024, which shows that the company achieved operating income of 16.255 billion yuan in the first quarter, a year-on-year increase of 8.03%; net profit attributable to shareholders of listed companies was 6.055 billion yuan, a year-on-year increase of 5.02%.
According to Yanghe's 2023 annual equity distribution plan, it is planned to distribute a cash dividend of RMB 46.60 to all shareholders for every 10 shares, with a total cash dividend of RMB 7.02 billion.
Under the background of the continuous deepening of the in-depth adjustment of the liquor industry and the continuous concentration of the market on the core production areas, core brands and core products, Yanghe, as a giant in the liquor industry, has achieved double-digit growth by relying on in-depth reform and kinetic energy conversion, and has maintained its rise and progress in waves and twists and turns, showing an extraordinary "tenacity strength", which has once again proved the company's long-term value to the outside world.
Four major measures to promote growth
In the annual report, the "measures" of Yanghe shares have been concretely presented:
First, it is reflected in the stable adjustment of products. In addition to its excellent quality, Yanghe, as a leading liquor brand in China, has always been remarkable in grasping industry trends and price layouts. Firmly implement the development strategy of "double famous liquor, multi-brand, multi-category", among which Yanghe's core single product is renewed and upgraded, Shuanggou famous liquor is strongly revived, and Guijiu's new products are fiercely offensive.
Second, it is reflected in the steady reform of channels. Since the "1320" strategy was proposed, in 2023, Yanghe Co., Ltd. is actively implementing relevant plans, establishing a business school platform, realizing the three major refinement projects, and continuing to implement a series of activities such as strong business and rich business business, so as to truly realize the co-creation, co-construction and win-win situation of manufacturers. At the recent global dealer conference, Yanghe shares also announced the road and direction of the future, and will always want to be together, stand together, work together, and struggle together with dealers, and shape the entrepreneurial community, the rich community, the career community, and the life community, and at the same time better meet the problem of profit distribution and fully mobilize the enthusiasm of dealers.
Third, it is reflected in the steady improvement of brand potential energy. Yanghe Co., Ltd. successfully took advantage of high-end events such as the Shanghai Cooperation Summit, the Film Huabiao Awards, and the New Year's Eve Speech of the World Brand to plan a series of Chinese aerospace activities such as the "Yanghe Dream Blue" rocket, which not only expanded the influence and popularity of the Dream Blue brand, but also further enhanced consumers' awareness and favorability of the brand. In addition, Yanghe shares also through the organization of various cultural and market activities, such as Guyu Forum, cellar opening festival, the first row of Su wine poetry music festival, Dunhuang new product launch conference, etc., to further deepen the understanding and recognition of consumers and the market of Yanghe brand wine culture, not only show the profound cultural heritage and brand connotation of Yanghe shares, but also effectively enhance the emotional connection with consumers, for Yanghe shares to create a unique brand differentiation competitive advantage has laid a solid foundation.
Fourth, it is reflected in the optimization of team management and other aspects. On the one hand, in order to protect and improve the level of pension treatment of all employees after retirement, and mobilize the enthusiasm of work, Yanghe Co., Ltd. decided to implement the enterprise annuity plan from 2024, so as to enhance the overall cohesion of the enterprise and promote the healthy and benign development of the enterprise. On the other hand, focusing on the guiding ideology of "everything is market-centric, everything is strongly empowered by marketing", we will continue to build a marketing iron army that is not afraid of hardship and tiredness. The high-quality sales team further enriches the talent pool of Yanghe shares, and at the same time, these provide the basic conditions for the company to strengthen the refined operation of the market and the empowerment of dealers.
2024
In 2023, Yanghe Co., Ltd. will maintain double-digit growth in operating income, and under the long-term dividend of the industry's accelerated concentration on the head brand and the high-end wine track, the growth will be stable and upward in the first quarter of 2024, achieving an operating income of 16.255 billion yuan.
In 2024, Yanghe Co., Ltd. will fully realize "marketing acceleration and increment, business environment standard and coverage, brand empowerment and strengthening, and basic management quality and efficiency", and promote the sustainable growth of market revenue with high-quality market empowerment.
In addition, the research reports of various securities institutions said that 2024 is also a year of accumulation and development of Yanghe, in addition to the brand advantage, the continuous growth of Yanghe shares also benefits from the advantages of multi-dimensional growth points:
One is the huge high-quality production capacity and energy storage. Yanghe shares adhere to long-termism, data show that Yanghe shares has more than 70,000 famous cellar pools, more than 1,000 liquor teams, annual production capacity of more than 160,000 tons of raw liquor, currently has more than 600,000 tons of different years of puree aged liquor, wine storage capacity up to 1 million tons, and this batch of high-quality production capacity is about to "blossom and bear fruit".
The second is the strategic awareness of leading the industry. With the world-class scale of liquor making and wine storage, Yanghe is committed to transforming "large energy storage and large production capacity" into "large kinetic energy". Recently, Yanghe Co., Ltd. officially announced the "Mianrou vintage old wine strategy that Yanghe Co., Ltd. has been following at the sealing ceremony", in addition to displaying five high-profile Fengtan liquors, it also launched three new products of Dream Blue Handicraft Class 10, 15 and 20 series.
It is foreseeable that in the second half of the year, Yanghe shares will play a more sufficient role in the high-end market, and the brand image will be raised again, while also opening up a new imagination space for Yanghe's revenue growth, which will become an immeasurable driving force for its future market growth.
In addition, multiple market signals indicate that the liquor industry is about to recover. The latest research report of a number of securities companies such as Zheshang pointed out that in the first quarter of 24, the overall payment collection progress of the liquor industry was normal, the inventory level was optimized compared with the same period last year, and the batch price performance exceeded expectations, showing a market pattern of stable high-end liquor, continuous excellent regional liquor, and differentiated sub-high-end liquor.
Therefore, after in-depth reform and kinetic energy conversion, Yanghe still has strong business resilience and acumen, and its business potential energy is still in an upward channel. With the accelerated release of brand power and product power, Yanghe in the post-30 billion era is smoothly passing through the industry cycle.
Source | Yuhe Finance and Economics
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