Zhu Wei shouted a new slogan "Merger and acquisition plan" can support the small goal of Guizhou alcohol?

August is the peak season for beer, and the recent launch of the "merger and acquisition plan" of Guizhou Alcohol has made the wine circle focus on the sauce and wine fever again. Regarding the plan, Zhu Wei, chairman of Guizhou Alcohol, said on social media personal account that the main purpose is to further expand production capacity, and proposed that Guizhou Alcohol's production capacity target for 2025 is 50,000 tons.

Previously, Zhu Wei announced on social media that Guizhou Alcohol will open an "merger and acquisition model" in the second half of the year, only large enterprises, not small enterprises. Among them, Zhu Wei clearly responded to the standard of "large enterprises", that is, the winemaking capacity is not less than 5,000 tons.

In this regard, Zhu Danpeng, an analyst in the Chinese food industry, said that it is not simple for Guizhou Alcohol to acquire a slightly so-called "large enterprise", first of all, it needs to become a provincial leader, and it needs stronger financial support.

Want to set off a wave of mergers and acquisitions

The "merger and acquisition plan" comes from the mouth of Zhu Wei, an internet celebrity in the wine industry, and the content of the plan is particularly grand and eye-catching. Not only to run to 50,000 tons of production capacity in 2025, but also to propose that target enterprises need to meet the strict requirements of "large enterprises" and sauce and wine enterprises.

The release of the plan can be described as a stone stirring up thousands of waves. According to Zhu Wei, after the release of the "merger plan", 469 netizens gave comments and suggestions within 23 hours. Most netizens mentioned different liquor companies in various places to provide merger and acquisition advice, and even some netizens ridiculed "large enterprises" such as Maotai and Wuliangye. However, some netizens said in the comment area that "small Guizhou alcohol, it is good not to be acquired" and "ants eat elephants" and so on.

However, the liquor companies that appeared in the comment area came from all over the country, and the volume was different and chaotic. The next day, Zhu Wei clearly responded to the standard of "large enterprises", that is, the winemaking capacity is not less than 5,000 tons.

In this regard, the interface reporter called Zhu Wei, but the other party refused to disclose too much information on the grounds that it was inconvenient.

In Zhu Danpeng's view, Zhu Wei's concept of "only merging with large enterprises" is very correct. If the merger and acquisition of small enterprises, may only bring a burden, and if the merger and acquisition of large enterprises, it will produce synergy effects, to achieve a strong combination, will promote the development of Guizhou alcohol.

Although the acquisition of large enterprises is a strong boost to the development of enterprises to a certain extent, industry insiders pointed out that although it is conducive to the development of enterprises, it is not an easy task for the current Guizhou alcohol and Zhu Wei. Whether it is from the level of funding or integration, it will face certain challenges.

In addition to the rhetoric of "only large enterprises", Zhu Wei's merger and acquisition plan points to the sauce and wine section. For netizens to ask about the merger and acquisition of fragrant wine companies or sauce fragrant wine companies, Zhu Wei is an important word three times, repeatedly emphasizing "sauce, sauce, sauce".

The reporter noted that the "merger and acquisition plan" of Guizhou alcohol is not sudden. Previously, Zhu Wei had proposed the "small goal" of Guizhou alcohol, achieving sales of more than 10 billion yuan in 2025 and a market value of 200 billion yuan in seven or eight years. In addition, Guizhou Alcohol will acquire a company in two years, and at the same time prepare for listing in three years, which is planned to be completed within five years. After the emergence of the small target of "100 billion market value", the "merger and acquisition plan" appears as if it is necessary.

However, just like the original small goal of 100 billion, this plan is still questionable. Some people in the industry believe that there are only a few wine companies with a production capacity of more than 5,000 tons in the sauce and wine sector. Among them, the volume of 5,000 tons is equivalent to the new expansion of wuling sauce wine, and Guizhou alcohol does not currently have the strength to acquire high-capacity, large-scale wine companies, and may eventually acquire some small and medium-sized wine companies.

Dream bigger and stronger

Although Zhu Wei refused the reporter's interview, through Zhu Wei's various speeches under high exposure, he could still sort out the reasons behind some "merger plans".

Zhu Wei disclosed the performance of Guizhou Alcohol in January-April this year on his social media personal account, and the net profit is expected to be between 150 million and 200 million, close to the whole of last year. Public data show that last year, Guizhou alcohol achieved profits and taxes of more than 100 million, sales increased by 206%, and achieved a turnaround. However, the sales data of Guizhou alcohol has never been disclosed, and from the current performance, although Guizhou alcohol has been growing on its own, it is difficult to rank among the forefront of the industry. In particular, the "100 billion small target" is standing in front, and the "merger and acquisition plan" is naturally put on the Guizhou alcohol agenda.

In addition, Zhu Wei's "big enterprise" obsession is more associated with production capacity, and production capacity is the first priority of sauce wine in Zhu Wei's eyes. On August 9, Zhu Wei said in today's headline personal number: "Regarding the merger and acquisition of Guizhou Alcohol, the purpose is simple: to further expand production capacity! Guizhou alcohol 2025 production capacity target is 50,000 tons, on the one hand based on self-construction, on the other hand based on acquisition. Competition between sauce and wine companies, the production capacity of the world - the production capacity of less than 20,000 tons of wine companies, the future is not a big future. ”

Interestingly, Zhu Wei said in May this year that Guizhou Alcohol's goal in 2025 is 40,000 tons of sauce wine production capacity and sales exceeding 10 billion. In addition, according to public information, Guizhou Alcohol has achieved a winemaking capacity of 12,500 tons this year, of which nine have become sauce wine. Although there is still a distance between the production capacity reality and the dream, the "merger plan" obviously makes Zhu Wei full of confidence and raises the production capacity target of Guizhou alcohol by a full 10,000 tons.

Production capacity is undoubtedly an important issue for sauce wine, but the development of sauce wine is not only a production capacity. During this year's spring sugar, some insiders mentioned that the current sauce wine is in a state of short supply, but after 3-5 years into the second half, the market competition is more intense, into the era of brand fighting, small brands will be eliminated, the brand began to concentrate more obviously.

I'm afraid it will become a dream of Nanke

Whether it is the goal of 100 billion yuan or 50,000 production capacity, Zhu Wei's dream of Guizhou alcohol has great potential. However, the limited construction of its own and the tense industry environment do not seem to be friendly to this "merger and acquisition plan".

Under the comment area of the first release of the plan, many netizens made wide suggestions, and the named wine companies were distributed in Sichuan, Guizhou, Henan and other places, and even some netizens asked whether to consider the wine companies in the northeast region. Therefore, some people in the industry believe that this plan is related to the national layout of Guizhou alcohol.

It is worth noting that Guizhou alcohol is indeed difficult to go out of the province. Interface reporters in Beijing a number of supermarkets, restaurants visit, Guizhou alcohol is always absent. Some dealers said that because there are too few consumers who buy Guizhou alcohol, they have reservations about the purchase.

For the view of achieving nationalization through the "merger and acquisition plan", Zhu Danpeng believes that Guizhou alcohol is only a regional liquor enterprise, and there is basically no great possibility in the country. Overall, after China's liquor enters a node of great differentiation, some regional small and medium-sized enterprises must become bigger and stronger, and do fine and thorough, and the possibility of nationalization is basically zero.

In addition, Guizhou Alcohol may face another embarrassing situation when looking for mergers and acquisitions. In the view of Jin Yufeng, a liquor marketing expert, in the case that the provincial leading enterprises themselves have the opportunity to be listed, there is no need to be acquired by Guizhou Alcohol, and the advantages of local brands in the province are not prominent. From the perspective of the liquor industry as a whole, the space for large-scale mergers and acquisitions is also limited.

It is understood that the liquor industry, especially the sauce liquor industry, is currently in an intensive period of acquisitions. In June this year, many capitals such as Zhongxing Mushroom Industry, Yiyatong, and Jihong Shares have "dyed sauce". In the view of industry insiders, liquor companies have strong profitability and better cash flow performance, and the current sauce wine fever continues, driving more companies to accelerate the layout of sauce wine. However, at present, the liquor industry continues to concentrate its head, and the development of small and medium-sized liquor enterprises is more difficult.

"To put it bluntly, you still need money, and you have money to talk about mergers and acquisitions." But the so-called large enterprises, Guizhou alcohol can only be a provincial leader, in order to have the opportunity to merge it. For example, let Guizhou alcohol merge Yanghe and drunkard liquor, these are impossible things. Zhu Danpeng said.