Performance Express | The net profit of Guizhou Moutai in the third quarter was 12.612 billion yuan, and the direct sales exceeded 10 billion yuan for the first time

On October 22, Guizhou Moutai released its third quarter financial report. According to the financial report, in the first three quarters, the company achieved revenue of 74.642 billion yuan, an increase of 11.05% year-on-year; and achieved a net profit attributable to shareholders of listed companies of 37.266 billion yuan, an increase of 10.17% year-on-year.

Among them, in the third quarter, Guizhou Moutai achieved revenue of 25.554 billion yuan, an increase of 9.86% year-on-year; net profit of 12.612 billion yuan, an increase of 12.35% year-on-year.

By product, Moutai wine in the first three quarters achieved revenue of 64.692 billion yuan, an increase of 7.46% year-on-year, and series wine of 9.54 billion yuan, an increase of 26.62% year-on-year. In terms of channels, the direct sales revenue was 14.685 billion yuan, an increase of 74.14% year-on-year, exceeding 10 billion yuan for the first time; the wholesale channel achieved revenue of 59.847 billion yuan, an increase of 1.93% year-on-year.

The financial report shows that the adjustment of dealers' channels in Guizhou Moutai is still continuing. As of the end of the reporting period, there were 2,095 dealers in Moutai in Guizhou and 104 abroad. Since the beginning of the year, the number of domestic distributors has increased by 62, a decrease of 13, of which the increase is mainly the distributor of the sauce series of wine, and the decrease is mainly the distributor of Moutai wine.

In addition, judging from the changes in the top ten shareholders, the Hong Kong Securities Clearing Corporation reduced its holdings by 7.2636 million shares from the end of the second quarter, and the Industrial and Commercial Bank of China SSE 50 exchange-traded open-ended index securities investment fund was newly promoted to the top ten shareholders.

It is worth noting that this financial report is the first financial report disclosed since the new chairman Ding Xiongjun took office. Ding Xiongjun mentioned at the shareholders' meeting held in September this year that in terms of reform, it is necessary to promote modern management reform, promote asset management reform, and promote the reform of marketing system and price system. During the "Double Festival" period of the Mid-Autumn Festival and National Day, Guizhou Moutai released 7500 tons of Feitian Moutai wine to the market and launched the "empty bottle repurchase" activity to stabilize the price and control the market.

Huachuang Securities said that at present, under the influence of the increase in Moutai and the compulsory unpacking policy, the price of Feitian Moutai has gradually returned to the rational range, and the bulk bottle of Feitian Moutai is near 2800 yuan / bottle. In addition, about 40,000 tons of base wine will be available for sale next year, with both volume and price space, and it is expected that the performance can accelerate to more than 15%.

As of Friday's close, Guizhou Moutai rose 3.09% at 1901 yuan / share, with a total market value of 2.39 trillion yuan.

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