"10 billion wine companies" sucking away from Jiucheng Jixi liquor market big shuffle acceleration

  Guizhou Maotai reported the main financial data in the first quarter of Guizhou, indicating that the epidemic situation in the first quarter of 2020 is further accelerating the wafer industry.

The gap between the leading enterprises and the regional liquor enterprises is constantly pulling, especially with the lack of white wine consumption scenes, with higher brands and anti-risk capabilities, is accelerating the escalating region. Market space of liquor companies. This is also visible from the performance growth rate of various large liquor companies in the first quarter of 2020.

  In the first quarter of 2020, only 5 listed liquors, the total number of business income achieved growth, is the% growth rate of Guizhou Maotai, and the five grain liquid% growth, Shunxin Agricultural alcoholic business (Niu Ran Mountain) % Of the growth rate, Shanxi alcoholic growth rate and Royal Galan, the net profit achieved, and there are five liquor companies, but the revenue is slightly different, and the liquor companies in the growth sequence are Guizhou Maotai% respectively. Increased speed, five grain liquid% growth, Shanxi Liquor% growth, Luzhou Laojing% growth and alcoholic wine% growth rate.

  As can be seen from the above data, net profit achieved growth of liquor companies in the first quarter, except for the alcoholic wine, it is worth mentioning in the country, worth mentioning, facing new crown pneumonia epidemic The strong impact on the liquor market, still achieved business income, net profit two-digit growth, only in Guizhou Maotai and Wuliangye in the leading position. The concentration trend continues to be affected by the faucet effects of Guizhou Maotai and Wuliang, and the liquor market is accelerated to the industry leader. Although the first quarter data in 2020 does not completely display the differentiation of the full-year liquor market, the data in 2019 has directly reflected the concentration trend of the current liquor market to be accelerated. It can be seen from the 2019 annual report released from the listing liquor enterprises that most of the liquor companies still have achieved two-digit growth in business income and net profit.

Of which more than 15% revenue growth of liquor business, has Moutai% growth rate, the growth rate% Wuliangye, Luzhou% growth rate, Shanxi Fen% growth, Gujing Distillery% growth rate, the present margin% growth Shuijingfang% growth, growth willing% liquor, and alcoholic liquor huangtai% growth% growth. These companies, in addition to high growth Wong Toi is achieved because the matter other than debt restructuring, the remaining companies have continued the good growth in recent years.

  It is noteworthy, 2019 Shanxi Fen, Gujing Distillery and Shunxinnongye white plates (niulanshan) ten billion revenue into the camp. Data from the public can see that 2019 operating income of Shanxi Fen billion, operating income Gujing Distillery billion, Shunxinnongye liquor business operating income billion. Camp with ten billion revenue gap between the scale of the other listed companies significantly liquor.

After ten billion camps, the highest operating income scale present margin on revenue of less than 50 billion yuan, the yuan.

The gap between 5000000000-10000000000 of centralization trend is also a reflection of the continuation of the liquor industry.

In fact, listed in the liquor business in 2019 total operating income billion in total ten billion contributed camp billion yuan, accounting for%; net profit reflects the more obvious ten billion total camp billion (in addition to cis Xin agriculture) net profit, accounting for the total number of million yuan net profit (except Shunxinnongye) percent.

  In addition, Guizhou Maotai and Wuliangye two leading enterprises in 2019 operating income and net profit, respectively, adding, reaching one hundred million yuan and yuan, accounting for listed companies in the liquor is% and% respectively, and this data 2018 compared to anti-growth did not fall.

2018, Guizhou Maotai and Wuliangye the sum of operating income, accounting for% of the total revenue of the listed liquor companies; and the sum of net profit, as% of total net profit of listed liquor business.

  Insiders said that the total performance of Maotai Wuliangye Yiqijuechen means that enterprises in the existing competitive landscape has firmly firmly installed in the "country", especially in the high-end liquor section of absolute dominance, the country is currently the leading wine prices increase the intensity of the layout of the range series of wine, liquor crowding regional market space. The liquor companies listed on the most competitive range, concentrated in ten billion of the remaining camps in several companies as well as between the scale of 30 billion yuan to 5 billion yuan scale enterprises.

  In fact accelerated phase-out of the regional market, liquor companies listed from the current layout and performance of the composition can be seen, the competition between the internal competition, and tens of billions camp area liquor business, high-end liquor is the competition the right to speak.

After Moutai and Wuliangye Maotai liquor occupy the commanding heights of liquor and high-end products, respectively, of the country’s Luzhou 1573 and Dream of the Blue Yang family has achieved a certain right to speak across the country, times the high-end segment to become the next trend of high-end liquor most competitive "Red Sea."

  Zhejiang Securities will be pointed out in its published research report, "entered the liquor industry, the overall amount of gain on sale of background, once the high-end liquor industry is the fastest growing type of growth with price, is the main driving force for development of the industry.

On the one hand high-end liquor prices continued price increases open space for the second high-end, on the one hand with the per capita disposable income to enhance the level of consumption in the background will be the next high-end price band continued expansion. "

Zhejiang Securities also pointed out that the impact of new crown pneumonia epidemic that is more short-term effects can not be changed once the field of high-end liquor has long term volume and price situation, the future of the country as well as key regional markets can win high-end times "decisive battle" of wine prices still worthy of attention. High-end liquor and times listed means that the future of the liquor business, has become a screening of "stragglers" are a powerful weapon.

From the major liquor company’s announcement, Beijing News reporter found that increasing the proportion of high-end products in the company’s revenue composition, the liquor business has become the main way to promote business growth. Hole in the pit said in its annual report, the high-end liquor products is the main pulling power in 2019 corporate performance; Shuijingfang in its annual report pointed out that high-end layout persist, especially in high-end consumer scene to dig deeper, to become enterprises to expand market share important strategies; willing to wine and high-end wine sales revenue growth rate reached% in its 2019 national process layout, resources were tilted to the high-end market capacity larger eastern and southern China market. Correspondingly, and those left behind in the high-end market, the company had to face the danger of being out of the market. He served as the emblem of the wine market, major brands of gold seed wine, but in 2019 fell into the quagmire of huge loss. Annual revenues of billion yuan, down%, attributable to shareholders of listed companies net profit loss of billion yuan, down%.

From the business point of view to explain, market-based high-end products lead to weak corporate performance continues to decline. Rong Ze consulting wine marketing expert Liu Xiaowei also said in an interview with Beijing News reporter, the strategy is not clear, upgrading of product structure lagging sales network system atrophy and other core issues, as well as core strategic product wavering situation, doomed the enterprise the performance will decline.

  The industry view is that the next high-end liquor products will continue to lead the direction of the liquor industry, especially as consumers become more rational consumption, product quality, enhance the brand power requirements, whether the liquor business in the high-end, high-end products has won twice the living space It will determine the company’s future ability to obtain sustainable and profitable opportunities. The market space in the low-end liquor products is to a large extent will benefit from high-end, high-end sub-brand products spillover effect, to further improve the liquor market brand pattern. (Editor: Liu Qing, Li Dong) share to allow more people to see.