The cash flow of liquor enterprises has always been enviable, with hundreds of millions or even billions of cash lying on the account. In order to make “idle money not idle”, it is also common to buy financial products. Red Star capital Bureau noted that many listed liquor companies are buying financial products, but it is difficult to have financial experts. The financial level of is even lower than that of bank deposit .
Anhui Gujing Distillery Company Limited(000596) (000596. SZ) recently announced that it used the idle raised funds of 1 billion yuan to buy the bank’s certificate of deposit financial products for a period of one year, the source of funds is the raised funds, and the expected annualized rate of return is 2%. Such a yield is too low for netizens to make complaints about it, but the fact is that there is no minimum but only lower.
the annualized yield of financial management is not as good as that of deposit term
Anhui Gujing Distillery Company Limited(000596) the announcement said that the company agreed to use idle raised funds with an amount of no more than 4.5 billion yuan to buy financial products with high security and good liquidity without affecting the progress of raised investment projects. Within the above limit, the funds can be used on a rolling basis. It can be seen that this financial management of 1 billion yuan is just a small test
the expected annualized rate of return of gujinggong financial management is 2%
According to the preliminary statistics of Red Star capital Bureau, this year has successively announced Anhui Gujing Distillery Company Limited(000596) , Anhui Kouzi Distillery Co.Ltd(603589) (603589. SH), Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) (603369. SH), tianyoude wine (002646. SZ), Tsingtao Brewery Company Limited(600600) (600600. SH), etc. From tens of millions of yuan to billions of yuan, Tsingtao Brewery Company Limited(600600) even use no more than 8 billion yuan of its own funds to invest in financial management.
Anhui Kouzi Distillery Co.Ltd(603589) recently announced that in order to improve the efficiency of the company’s capital use, it plans to invest in principal guaranteed financial products to increase the company’s income. In this period, the idle raised fund of 80 million yuan was used to purchase Haitong Securities Company Limited(600837) “yihaitongcai · Caibao” financial product, with a product term of 178 days and an expected annualized rate of return of 2.38%.
However, such a rate of return is actually difficult to achieve. According to the statistics of Red Star capital Bureau, Anhui Kouzi Distillery Co.Ltd(603589) the rolling investment in financial management in the last 12 months was 480 million yuan, and the actual income was 6.1397 million yuan. Simple calculation shows that its annual financial return is only 1.27%. Many netizens laughed and said that it would be easier to deposit regularly in the bank!
Anhui Kouzi Distillery Co.Ltd(603589) said that the company puts risk prevention in the first place, and the safety of financial funds is the most important, so it buys principal guaranteed products. Moreover, during the period of investment and financial management, the company will also pay attention to the relevant situation of entrusted financial management funds on a regular or irregular basis. Once risks are found, corresponding measures will be taken in time.
On August 26, 2021, Anhui Kouzi Distillery Co.Ltd(603589) passed the proposal on the company using some idle raised funds to purchase financial products, and agreed to use idle raised funds of no more than 100 million yuan to invest in principal guaranteed financial products in a timely manner. The proposal stipulates that the amount of funds can be used on a rolling basis within the validity of the resolution.
structured deposits are favored and trust types are abandoned
Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) (603369. SH) recently announced that it plans to use its own idle funds of 1.03 billion yuan to buy financial products, which is also to buy “principal guaranteed financial products”. At the same time, it can make rolling investment within the relevant provisions.
According to the statistics of Red Star capital Bureau, Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) the actual rolling investment in the last 12 months was 8.316 billion yuan, the actual principal recovered was 4.258 billion yuan, the actual income was 66.4798 million yuan, and the principal not recovered was 4.058 billion yuan (rolling investment). the annual actual return is more than 60 million yuan, which feels good, but according to the actual rate of return, the annualized rate of return is about 1.55%, can only be said to be slightly better than Anhui Kouzi Distillery Co.Ltd(603589) .
At present, the financial products purchased by Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) are low-risk and low-yield bank structured deposits, brokerage monetary funds and so on. However, in the past, it bought trust products with high risk and high return. For example, in the 2020 annual report, it mentioned that Baoneng and Evergrande trust products were involved. Both of them were thunderstruck successively, which startled Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) and since then it has no longer involved high-risk trust products.
A few years ago, many liquor enterprises were keen on high-risk and high-yield financial products, including a large number of trust products. However, in recent years, trust products have continued to explode, laying a time bomb for financial security. Nowadays, liquor enterprises that buy a large number of trust products are rarely seen, and they are more concerned about whether the benefits and risks match.
From the perspective of the types of financial products purchased by listed companies of wine enterprises, the trend of product diversification is obvious, including bank structured deposits, bank financial products, securities companies’ income vouchers, securities companies’ collective financial management, etc., among which structured deposits are most favored by listed companies. Insiders said that for the consideration of risk control, listed companies pay more attention to the safety of principal when purchasing financial management, focusing on low-risk and principal guaranteed, and do not pursue the so-called high yield.
There are also wine enterprises that do not love financial management and just bury themselves in collecting interest. According to the third quarterly report of “stock king” Kweichow Moutai Co.Ltd(600519) (600519. SH) in 2021, its monetary capital exceeded 50.7 billion yuan, but it did not buy financial products, but directly charged interest, which is not a small number. The third quarterly report shows that its interest income is 2.411 billion yuan. So much interest is enviable, which is more money than the main business of many wine enterprises.
