Double-digit revenue growth in the first quarter, Wuliangye continued to optimize product structure

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Double-digit revenue growth in the first quarter, Wuliangye continued to optimize product structure
Sauna Night News (training reporter Xue Chen) After the stock market opened on the morning of April 28, Wuliangye entered the way up until the closing of the afternoon, Wuliangye entered the close at 139.00 yuan / share, an increase of 4.75%.This previous increase was inseparable from the better performance in the performance report released by Wuliangye in the middle of the night on April 27.According to the data, Wuliangye achieved an operating income of 501 in 2019.1.8 billion, an annual increase of 25.2%; net profit attributable to shareholders of listed companies 174.2 billion, an annual increase of 30.02%.In fact, in the whole industry is generally affected by the new coronary pneumonia epidemic situation, operating income and net profit fell sharply, Wuliangye’s first quarter of 2020 operating income and net profit still maintained a two-digit growth.In the first quarter of 2020, Wuliangye achieved an operating income of 202.38 trillion, an annual increase of 15.05%; net profit attributable to shareholders of listed companies77.4.0 billion, an annual increase of 18.98%.Obviously, in the annual report released by Wuliangye, the change in performance between high-price wine and low-price wine also shows the results of Wuliangye’s continuous product structure adjustment.Specifically, Wuliangye’s overall product production and sales volume both declined, of which 165,411 tons were sold, a year-on-year decline of 13.67%; production capacity is 168,272 tons, down by 12 every year.34%.Corresponding to the relative data, it is Wuliangye’s low- to mid-price wine business income of less than 120 yuan 66.3.1 billion, down by 12 every year.32%.The decline in low- and middle-priced wines is quite close to the overall sales decline in Wuliangye, or to a certain extent reflects the fact that low- and middle-priced wines are constantly being cut in Wuliangye’s product sequence.In general, high-priced wines of more than 120 yuan are actually more prominent, with operating income reaching 396.7 trillion, an increase of 31 per year.41%, the proportion of high-priced wine in Wuliangye’s operating income, also by 75% in 2018.42% increased to 79 in 2019.15%.It has been pointed out that high-priced products continue to rise in the Wuliangye product series, and it is easier for Wuliangye to exert its brand effect as one of the leading liquor companies in the current state of high-end liquor market.Wuliangye also said that it is still affected by the new coronary pneumonia epidemic and the downward pressure on the economy has broken through. However, high-end liquor will continue to lead the structural growth of the liquor industry, and the industry will also yearn for concentrated brands, enterprises and production areas.In the past, this concentration effect is an important reason why Wuliangye is still able to maintain two-digit growth under the condition that the performance of Baijiu listed companies generally expands in the first quarter of 2020.In addition, Wuliangye’s planned operating target for 2020 is also to maintain double-digit growth in total operating income.Brand cleanup will continue and the capital market will continue to be optimistic about the performance of Wuliangye.In addition to the better performance data itself, the Everbright Securities research report released on April 28 also said that Wuliangye ‘s proposed double-digit revenue growth target for 2020 is often pragmatic, only because of the impact of the new coronary pneumonia epidemic, Wuliangye is stillActively help dealers to cope with the pressure of inventory digestion after the holiday, and more importantly, the price of the “Puwu”, which is the index product of Wuliangye, has gradually increased to 910 yuan.Huatai Securities Research further pointed out that the terminal market of Wuliangye in January-March has nearly 70% sales, and dealers have more confidence. Combined with the current stable rebound in pricing and healthy channel management, the new coronary pneumonia epidemic has improved and demand has rebounded., So that the good information will help Wuliangye achieve its performance goals.It is reported that Wuliangye will subsequently improve its product structure and marketing system in order to ensure the completion of its business objectives.Wuliangye said that it will continue to improve the product system of the four national strategic single products of the Wuliangye brand in 2020, and at the same time promote expansion and transformation projects and technological transformation projects.It is pointed out that the introduction of Wuliangye continues to deepen its strategy of large single products, and the brand cleanup work of Wuliangye will continue.Sauna Night Net Trainee reporter Xue Chen edits Xu Jingjing proofreading Wei Zhuo