Express | Guyue Longshan's revenue rebounded to 764 million yuan in the first half of the year, and the balance of inventory goods hit a new high of 1.699 billion

Although Guyue Longshan recovered more than 30% of its growth from the same period last year, its performance volume was still nearly 200 million yuan lower than the peak of 972 million in the first half of 2018. More worryingly, its inventory balance hit a new high of 1.699 billion yuan at this time.

On the afternoon of August 17, Guyue Longshan released its financial report for the first half of 2021. It was disclosed that the company's revenue in the first half of the year increased by 31.91% year-on-year to 764 million yuan, and the net profit increased by 31.27% year-on-year to 88.1081 million yuan. Although the seemingly low base achieved a 30% jump in 2020, compared with the peak of 2018, Guyue Longshan's revenue and net profit volume today are only 78% and 85% at that time.

In addition, in terms of quarterly changes, the year-on-year growth rate of medium and high-end wines and ordinary wines in Q2 was about 29.35% and 3.1%. Compared with Q1 double more than 30% speed significantly lower.

Product sales slowed down, and inventory goods began to pile up accordingly. Comparing its past financial reports, the caijing network found that the book balance of its inventory commodities at the end of the period in the first half of this year increased by 13.17% from the beginning of the period to 1.6997 billion yuan. This growth rate is basically comparable to the first half of 2020 during the scorching period of the epidemic, but the volume has hit a new high in the past 5 years.

Image source: Caijing.com Sankei