Yangtze River Business Daily reporter Zhang Lu
Old wine consumption releases potential, Tuopai innovates the customized model, and gives up the wine industry (600702. SH) the road to "rejuvenation" is gradually stabilizing.
On January 18, Shede Liquor industry issued a performance pre-increase announcement, saying that it is expected to achieve a net profit attributable to shareholders of listed companies in 2021 of 1.23 billion yuan to 1.28 billion yuan, an increase of 650 million yuan to 700 million yuan compared with the same period last year, an increase of 112% to 121% year-on-year.
According to the data, shede liquor owners operate liquor products, and the leading product "Tuopai Qujiu" is one of the "six golden flowers" of China's famous liquor and Sichuan liquor brewing industry. In the past 2021, the wine industry can be described as full of spirits. Not only did it take off the cap, but its stock price also rose from a minimum of about 60 yuan / share to a maximum of about 260 yuan / share, with a maximum increase of 330%.
The reporter of Changjiang Business Daily noted that since Fosun joined the Shede Wine Industry, it has begun to have a trend of performance recovery. In the first three quarters of 2021, it achieved revenue of 3.6 billion yuan, an increase of 104.54% year-on-year; and achieved a net profit attributable to the mother of 970 million yuan, an increase of 211.92% year-on-year.
In terms of corporate strategy, Shede Liquor industry released the old wine strategy upgrade system, Shede Liquor Chairman Zhang Shuping previously said that Shede Liquor Industry will focus on the development of the main liquor industry and create the first brand of the old liquor category with "liquor industry as the mainstay and cultural empowerment". The company will implement the dual brand operation of Shede and Tuopai, restore the Tuopai market, and promote rejuvenation and internationalization to maintain the steady development of the company.
The two brands work together, and the strategic effect of old wine begins to appear
On January 18, Shede Liquor industry issued a performance pre-increase announcement, saying that it is expected to achieve a net profit attributable to shareholders of listed companies in 2021 of 1.23 billion yuan to 1.28 billion yuan, an increase of 650 million yuan to 700 million yuan compared with the same period of the previous year, an increase of 112% to 121% year-on-year; the deduction of non-net profit is expected to be 1.19 billion yuan to 1.24 billion yuan, an increase of 640 million yuan to 690 million yuan compared with the same period of the previous year, an increase of 116% to 125% year-on-year.
For the reasons for the growth of the performance of the current period, Shede Liquor said in the announcement that due to the impact of the epidemic in the same period last year, the operating performance base is low, in 2021, the epidemic is gradually under control, the high-end liquor consumption market has picked up significantly, and the company's old wine strategy has gradually been accepted by the market, and it is expected that the company's operating income will increase by about 83% over the same period last year, and the operating performance will rise sharply compared with the same period last year.
According to public information, As one of the "Six Golden Flowers" of "Chinese Famous Wine" enterprise and Sichuan Liquor, Shede is the third national quality award winner and the third listed company in the liquor industry, with two liquor brands, "Tuopai" and "Shede".
In 2019, Shede Liquor industry put forward the strategy of old wine and launched the brand slogan of "Shede Wine, Every Bottle is Old Wine". In recent years, Shede Liquor Industry has continued to deepen the strategy of old wine, and improved the layout of old wine products in the country with the Shede Collection Series. According to the data released by Shede Liquor, it has 135,000 tons of old wine storage, occupying a strategic highland and becoming a leader in the field of old wine.
In addition to the old wine strategy, since 2021, the wine industry has entered the high-speed development track with the trend of "old wine and double brand", and proposed to firmly implement the dual brand strategy, which will implant more possibilities in the field of high-line light bottle wine. According to the Shede liquor industry, in the future, Tuopai Shede will continue to complement each other, covering the full price range of the fragrant category and forming a strong brand competitiveness in the market.
Left hand Tuo brand, right hand Willing, The Yangtze River Business Daily reporter noted that the implementation of the "double brand" strategy has also made the Wine Industry harvest a lot. At the 18th World Brand Conference held in 2021, the total value of the two major brands of Shede Liquor, "Shede" and "Tuopai", reached 114.111 billion yuan, an overall increase of 12.6% over 2019, ranking third among liquor companies, second only to Moutai and Wuliangye.
Some insiders said that since the liquor industry proposed the old wine strategy, it has achieved good results in brand communication and market layout, and with the continuous heating up of the old wine, it has laid a solid foundation for the landing of the dual-brand strategy. It is foreseeable that the brand value of the liquor industry will be further released, which is conducive to the national layout and thus achieve leapfrog development.
After The Avengers entered the ownership, the performance and stock price flew in tandem
According to public information, the predecessor of Shede Liquor Industry is Tuopai Shares, which can be traced back to the local state-owned enterprise Shehong Tuopai Qu Distillery in Sichuan Province, and was listed as a national large-scale enterprise in 1990. In 1993, Sichuan Tuopai Industrial Co., Ltd. was reorganized and established, and in 1996 it was listed on the A-share market.
After being taken over by SkyOcean Holdings in 2015, on the last day of 2020, Fosun officially entered the Shede Liquor Industry, which also provided a renewable growth momentum for the Shede Liquor Industry. With the help of this advantage, after entering 2021, the stock price of Shede Liquor industry soared sharply, once exceeding Wuliangye, it is worth mentioning that the stock price of Shede Liquor Industry rose from a minimum of about 60 yuan / share to a maximum of about 260 yuan / share, and the maximum increase was as high as 330%.
Behind the "take-off" of the stock price of Shede Liquor, its performance has repeatedly exceeded expectations. In the first three quarters of 2021, it achieved revenue of 3.6 billion yuan, an increase of 104.54% year-on-year; and achieved a net profit attributable to the mother of 970 million yuan, an increase of 211.92% year-on-year. Combined with the performance forecast, the Reporter of Changjiang Business Daily deduced that in the fourth quarter of 2021, the liquor industry or achieved a net profit attributable to the mother of 260 million yuan - 310 million yuan, an increase of -3.7% - 14.81% year-on-year.
Industry insiders believe that with the addition of professional management talents in Fosun, the governance framework and decision-making system of Shede Liquor will be greatly improved, the operational efficiency of the internal team of Shede Liquor will be improved, and the shede Liquor Industry will successfully dock more high-quality market resources, which will further improve the comprehensive competitiveness of enterprises in the market.
However, it should be noted that the performance and net profit improvement of the shede liquor industry is not all the increase in sales, and half of the reason comes from its price increase strategy, just after the 2021 National Day holiday, the liquor industry announced that from October 15, 2021, the supply price of the crystal shede and the taste shede terminal was raised by 20 yuan / bottle; the supply price of the three types of liquor terminals of the house was recommended to be raised by 10 yuan / bottle. This is also the second price increase last year.
In addition, near the Spring Festival, the liquor market has pushed the "price increase" to a climax. According to the reporter's incomplete statistics, as of now, more than 10 liquor companies such as Moutai, Luzhou Laojiao, Gujing Tribute Wine, and Shede Liquor have announced price increases for some products.
In this regard, Cai Xuefei, an analyst in the liquor industry, said that the price increase of the head liquor company is a marketing strategy that matches its brand value. As for regional famous wine enterprises, although the price increase has the factor of brand value-added, there is also a demand for the industry occupying the space under the price band left by the price increase of the head wine.
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