The liquor industry's first three quarterly report performance forecast is coming!
After hours on October 14, Liquor released the first three quarters of the performance forecast, the company expects the first three quarters of net profit and the third quarter of the net profit after deduction of non-deductions to achieve double growth over the same period last year.
The latest data shows that as of June 30, 2021, the number of alcoholic liquor shareholders was 83,500.
Performance increased significantly year-on-year
According to the forecast of the third quarterly report, the net profit of the drunkard liquor in the first three quarters is expected to be 710 million yuan - 730 million yuan, an increase of 114.65% - 120.69% year-on-year. Among them, the company expects the non-net profit in the third quarter to be 205 million yuan - 220 million yuan, an increase of 126.75% to 143.35% year-on-year.
Image source: Company announcement
For the sharp increase in performance, the relevant person in charge of the alcoholic liquor said in an interview with CSI That during the reporting period, the company's team has strengthened in brand promotion, channel construction and terminal construction, and the performance growth is reasonable.
Previously, securities companies had issued research reports, and it is expected that the performance of drunkards in the third quarter will be high.
Guosen Securities Research Report said that during the eleventh holiday, the sales of "internal reference" and "drunkard" series of liquors were good, continuing the high growth momentum of the Mid-Autumn Festival. Dealers have completed the task of paying money throughout the year, and the company's delivery progress is advancing in an orderly manner. The company's control over the price of "internal reference" continued to strengthen, and the wholesale price remained stable. The overall inventory of dealer channels is maintained at about 1-2 months, which is relatively benign. This year, the "internal reference" and "drunkard" teams continued to promote the construction of specialty stores and tasting centers respectively, and the expansion plan is progressing smoothly. Overall, in the third quarter of 2021, the company's collection of payments continued to increase at a high rate, sales were good, and it is expected that the company's third quarter performance is still expected to maintain rapid growth. Guosen Securities said that it is optimistic about the company's endogenous potential to continue to improve and the national expansion is steadily advancing, maintaining a "buy" rating.
Guotai Junan is also optimistic about the subsequent development of alcoholic liquor. Guotai Junan said that externally, the sub-high-end liquor benefits from economic repair, credit expansion and consumption upgrading, and will continue to show demand elasticity; internally, the company's payment collection progress is fast, the advance collection remains high, and after strict control, the inventory has returned to a low level, and the drunkards and internal references have entered a high-speed volume state. Maintain the "overweight" rating of alcoholic liquor.
Accelerate out-of-province expansion
In recent years, liquor has continued to optimize its product structure, and has formed three main series of products covering high, medium and low price segments. According to relevant industry insiders, the performance of the high-end products of the alcoholic liquor is particularly prominent, which has become the main reason for the growth of the performance of the alcoholic liquor.
According to the 2021 semi-annual financial report data of liquor, the revenue of internal ginseng liquor was 520 million yuan, an increase of 86.13% year-on-year, accounting for 30.33% of the total revenue, and the gross profit margin was as high as 92.58%.
While continuing to optimize the product structure, the alcoholic liquor has also increased its efforts to build the brand this year.
This year, drunkard liquor has joined hands with "Ten Thousand Miles to Ride Alone" and "China National Geographic" to export the brand value of liquor and enhance brand awareness by creating brand IP programs and offline activities. It is reported that the first 1-hour sales of the World Heritage Joint Liquor launched by the alcoholic liquor and "Ten Thousand Miles Single Ride" exceeded 20 million yuan.
In addition, driven by high-end products, liquor has accelerated its expansion outside the province. The relevant person in charge of the alcoholic liquor told CSI Jun: "At present, the internal reference wine is progressing smoothly in the national investment promotion, through the internal reference value forum, the internal reference hall of fame and the drunkard liquor festival and other forms, the drunkard liquor has entered Nanjing, Xiamen, Shijiazhuang, Jinan, Zhengzhou, Chengdu and other places, accelerating the layout of the national market." ”
According to the person in charge, at present, the company's sales in key markets such as Beijing-Tianjin-Hebei, Shandong, Henan, East China and Guangdong have increased significantly.
Since the beginning of this year, the number of liquor distributors has also grown rapidly. The company's semi-annual report shows that the number of regional distributors in the first half of the year increased from 763 at the end of 2020 to 1055 in the middle of the year.
Driven by high-end series of products, the performance of alcoholic liquor has ushered in an outbreak in the past two years. In 2020, the company achieved operating income of 1.826 billion yuan, an increase of 20.79% year-on-year; net profit reached 492 million yuan, an increase of 64.15% year-on-year. This year, the company's performance will continue to maintain high growth.
The growth of performance has also led to the rise of the company's stock price. In 2020, the company's stock price has increased by 345.78%. As of the close of trading on October 14, the company's stock price was reported at 253.99 yuan / share, a cumulative increase of 63.02% this year.
Alcoholics Stock Price Trend (Weekly Line)
Image source: Wind
Editor: Xu Xiaohong