In early trading on June 2, the share price of Moutai in Guizhou began to rise slowly after a slight decline. Half an hour after the opening, the stock price quickly turned red, rising nearly 1%, and the market value was close to 1.8 trillion yuan at one point. During the session, the stock price once again hit a record high of 1427.90 yuan. By the close, however, the share price of Moutai in Guizhou had fallen.
In the morning, ICBC's stock price was slightly adjusted, and the total market value was about 1.79 trillion yuan. This also means that in just one day, the total market value of Moutai in Guizhou has changed from close to ICBC to more than ICBC. This also breaks the pattern of the "first line of the universe" that has long dominated the total market value of A-shares.
In the 17 years since 2003, the stock price of Moutai in Guizhou (after returning to power) has also risen more than 400 times, the data shows. Such an amazing performance has also attracted a group of value investors to become iron fans of Moutai in Guizhou.
It is worth noting that before Moutai briefly became the most valuable stock on the Shanghai Stock Exchange, Wuliangye had become the most valuable stock on the Shenzhen Stock Exchange.
The data shows that since March 19, Moutai stock price has soared by more than 40% in less than 2.5 months, with Wuliangye rising nearly 50% in the same period, Luzhou Laojiao up more than 28% and Yanghe up more than 26%.
<h1 class= "pgc-h-center-line" > "first row of the universe" drops the throne</h1>
No surprises! Guizhou Moutai, the "king of A-shares", has finally ascended to the throne of the first place in the total market value of the two cities.
The day before, Kweichow Moutai, which had just hit a new high, surprised the market again. In early trading on June 2, the stock price of Moutai in Guizhou opened slightly lower and was green at one point. But half an hour after the opening, the stock price quickly turned red, rising about 0.59%, with a market value of nearly 1.8 trillion yuan (the highest was 1,793.6 billion yuan).
In the intraday, Guizhou Moutai once again brushed a new high of 1427.90 yuan.
It is worth noting that the stock price breakthrough of Moutai is more significant. On the same day, the stock price of ICBC's "Universe First" opened slightly, with a market value of 179.34 billion yuan.
This also means that the total market value of Moutai in Guizhou has surpassed that of industrial and commercial bank of China, becoming the largest company in Shanghai and Shenzhen. It was also the first time in history that an alcohol leader had surpassed the first thread.
In the global food and beverage industry, the market value of Guizhou Moutai has long exceeded that of the former beverage brand giant Coca-Cola Company.
Analysts believe that Guizhou Moutai is now fully listed. From the perspective of circulating market value, the circulating market value of Moutai in Guizhou has surpassed that of industrial and commercial bank of China, and it is firmly in the first place in the circulating market value of A-shares. At present, Industrial and Commercial Bank of China, China Construction Bank and Ping An still hold a large number of restricted shares. Therefore, the total market value of Moutai in Guizhou seems to have long been expected to surpass ICBC.
<h1 class= "pgc-h-center-line" soared 400 times in 27 years >, and Guizhou Moutai became a benchmark for value investment</h1>
In fact, the stock price of Kweichow Moutai has been soaring, and the stock price has repeatedly reached new highs, which is also due to the recognition of Kweichow Moutai by the market fund.
From this year's point of view, since March 19, Guizhou Moutai has soared from 960.10 yuan on March 19 to the current 1427.90 yuan, a cumulative increase of more than 40%.
The "smart money" known as northern capital is often expanded to buy Kweichow Moutai. The data shows that in the past month, the total amount of money flowing into Moutai in Guizhou from the north has exceeded 2.7 billion yuan, second only to Midea Group.
From the perspective of the long-term performance return of investment, the return on income from buying a share of Moutai is even more amazing.
According to statistics, since September 23, 2003 (the position of the historical low), the stock price of Moutai in Guizhou has been rising from the low point. Over the past 27 years, the stock price has risen more than 400 times. From the perspective of investment type, the house price growth in first-tier cities in the past decade has not caught up with Moutai in Guizhou.
A surge of 400 times means that the 250,000 that invested in Moutai in Guizhou 17 years ago can now earn 100 million!
However, judging from the returns of Moutai shareholders, the dividend value of Moutai shareholders is also enviable. According to the data, Moutai has announced a dividend plan for 2019 with a cash dividend of 170.25 yuan (including tax) per 10 shares, successfully setting a record dividend of 145.39 yuan per 10 shares in 2018.
Due to the amazing stock price growth and performance returns, Guizhou Moutai has also become a benchmark for many value investors. For example, Dan Bin, chairman of Oriental Harbor, is an iron fan of Moutai in Guizhou.
Earlier, media reported that Shan Bin sang more on Weibo than Moutai, and more than 7,000 Microblogs were about Moutai. Mao Tai was also given to Buffett as a gift. He even said in public that "Moutai will not fall for ten thousand years" and "If you have money, you want to buy the whole Moutai".
As for whether there is a bubble in Moutai stock price, Bin laughed and said: "Moutai belongs to the sauce-flavored liquor, and the one with no bubble and bubble is called beer!" He even felt that the 700 yuan Moutai was not expensive at all.
<h1 class="pgc-h-center-line" > Wuliangye became the highest market capitalization stock on the Shenzhen Stock Exchange</h1>
It is worth noting that on June 1, before Moutai briefly surpassed ICBC's market value to occupy the first place in the Shanghai market, another liquor leader, Wuliangye, also had a market value of more than 600 billion yuan, occupying the first place in the Shenzhen Stock Exchange. As of the noon close on June 2, Wuliangye rose 0.27% to a market value of 617.3 billion yuan.
On May 29, Wuliangye's 2019 annual shareholders' meeting was held in the yuan yixin conference hall of Wuliangye Group. Due to epidemic prevention and control needs, the number of participants was limited. However, according to live-streamed data from the panorama meeting process, the number of viewers exceeded 128,000.
Zeng Congqin, general manager of Wuliangye Group and chairman of the joint-stock company, pointed out that since the beginning of 2020, in the face of the sudden impact of a new round of coronary pneumonia epidemic, the outside world generally expects that all walks of life will be affected by various shocks, and the recovery cycle is difficult to estimate.
As a leader in the liquor industry, Wuliangye is rapidly on the right track. In the first quarter of this year, the sales revenue of the major liquor industry increased by 15% year-on-year, and the net profit attributable to the parent company increased by 19% year-on-year. Therefore, Wuliangye believes that from the perspective of the industry, the long-term structural prosperity of liquor has not changed, and the trend of concentrating advantageous brands, advantageous production capacity and advantageous production areas has not changed. Wuliangye's operating income in 2020 is still firmly set as a double-digit growth target.
<h1 class= "pgc-h-center-line" > moutai shareholders' meeting to play a new routine, "tie-in gift box" was ridiculed by the shareholders</h1>
At a time when Moutai stock price reached a new high and the market value ranked first in the A-share list, the news of Moutai shareholders' meeting also triggered a wave of heated discussion.
On June 1, the official public number of Moutai in Guizhou, Moutai Time and Space, announced that the Moutai shareholders' meeting will be held on June 10, and up to 300 people will attend the meeting on the spot. Selling wine on the website will become a gift box for buying the main product online.
According to the arrangements of Moutai in Guizhou, which was affected by the epidemic this year, Moutai said that due to various factors such as epidemic prevention control, site restrictions, reception capacity, and safe production, the venue limit of this shareholders' meeting cannot exceed 300 people.
For a long time, the shareholders' meeting of Moutai has been a grand event for A-share listed companies every year, integrating wine sales, visits, catering and other links. It has also become a topic of concern for all sectors of society. Some have even likened Moutai's shareholder meeting to Buffett's Berkshire Overseas Shareholder Meeting. Every time a shareholder meeting is held, there is a new topic, and this time is no exception.
It is understood that this year's Moutai shareholders' meeting canceled the on-site liquor sales link in previous years and instead purchased a series of gift boxes provided by Moutai Online. Among them, the limited supply is 5,000 boxes, and each person is limited to buying one box. For the first time in moutai history, wine sourcing services were offered to shareholders in the form of gift boxes for the main product portfolio.
Among them, a box contains 8 bottles of wine: 53 degrees Moutai, Year of the Rat Moutai, Moutai Prince (sauce classic), Han sauce wine, Moutai Welcome (Chinese red), Guizhou Daqu (1970s), Renjiu, Laimao wine (inheritance • blue) (2.0) and so on. It is understood that the price of the gift box of the main product of Moutai is 5666 yuan per box.
However, it is understood that in addition to the Tianfei Moutai that needs to be purchased by appointment, the rest of the Moutai wine series sales are not scarce, and the discount of the gift box is not large, so ordinary people can buy such a gift box series on the e-commerce platform.
Therefore, the situation of bundling gift boxes online this time has not been recognized by shareholders. Some shareholders said, "This is a pairing sale of a bottle of Tianfei 7 bottles of wines". It is only monumental and can make money for shareholders, but it cannot meet the initial expectations of shareholders, that is, to get "a bottle of Tianfei + a bottle of zodiac".
Moutai shareholders' meeting "gift box wine sale" caused a wave of bad reviews. Some netizens joked: The treatment of 100,000 shareholders is not as good as a dealer, "Who buys who is stupid series?" ”
However, despite frequent complaints, Moutai wine is still in short supply.
According to the announcement, June 2 is the only day to grab the seat and compete for 300 places in the on-site meeting. As of the first quarter of 2020, the shareholders of Moutai in Guizhou are as high as 100,000.
That is to say, even if the shareholders want to complain about this new "liquor selling scheme", there are still a small number of shareholders who can really get the quota to go to the meeting and grab the gift box.
<h1 class = "pgc-h-center-line" > buy Moutai = buy gold? </h1>
Most institutions are still optimistic about Moutai.
Moutai's stock price often hits record highs, and its total market value often exceeds the upper limit, which also makes the debate over whether Moutai stock price has a "valuation bubble" continue.
According to the research of Guo Sheng Securities, from a horizontal point of view, the current valuation of consumer dragon stocks in the A-share market is much higher than that of similar companies in the United States. Currently, the price-to-earnings ratios (TTM) of Guizhou Moutai, Wuliangye and Haitian Cuisine are 39, 31 and 66 times, respectively. Diageo, Coca-Cola and McDonald's TTM indices are 20, 18 and 25 times higher than U.S. stocks, respectively.
From a longitudinal point of view, Moutai now has a price-earnings ratio of 39 times, which is 90% of the price-earnings ratio in the past 5 years. The P/E percentage is the percentage of the P/E ratio in stock history data, usually below 30% is considered undervalued, and more than 70% is considered overvalued.
Chen Li, chief economist at Soochow Securities, said at a roadshow on May 28 that in the past two to three months, in addition to food, beverages and medical devices, the stock prices of pharmaceutical stocks have risen sharply, and valuation levels have also risen sharply. In addition, many of the rise in valuation levels is not driven by an increase in earnings per share, but by the impact of more money in the market. In June, the funds invested by banks will not increase further. The central bank also said it had invested enough money in the past, so there was no need to invest more now.
On the other hand, as the economy recovers, businesses need more and more capital, so when bank money subtracts corporate funds, excess liquidity should be reduced, and the reduction of excess liquidity often means that the valuation level of very expensive industries may not continue to rise.
Chen Li judged that industries with larger growth rates and relatively high price-earnings ratios, including liquor, food, and some pharmaceutical companies, have advised everyone to be cautious.
However, some people believe that historical data shows that "buy Moutai = buy gold", Moutai itself has a trend of financialization, and the scarcity of Moutai will also support the current valuation of Moutai in Guizhou.
According to reports, many brokerages have recently raised the target price of Moutai. Securities companies such as CITIC Securities, CITIC Securities and CICC said they were optimistic about Kweichow Moutai. The team of Wang Yongfeng of GF Securities believes that it is as high as 1506 yuan. CITIC Securities expects Kweichow Moutai to grow revenue and net profit by more than 10 percent in the first quarter of this year, and has given a price target of 1,500 yuan.
Whether Guizhou Moutai can continue to break through the sky, it may be seen.