October Baijiu business statistics revealed that we focused on liquor, condiments, beer and dairy products under the plate line of business data analysis. Baijiu average price growth, the second high-end performance is better. The sales volume of condiment industry maintained growth, and the average price increase narrowed. The average price of beer industry has declined, and the concentration has decreased month on month. The yogurt sector of dairy industry continued to be under pressure, and the cheese sector maintained growth.
Baijiu industry: average price growth and secondary and high-end performance. In terms of high-end liquor, Kweichow Moutai Co.Ltd(600519) , Wuliangye Yibin Co.Ltd(000858) , Luzhou Laojiao Co.Ltd(000568) sales were 608 million yuan, 524 million yuan and 135 million yuan respectively, with a year-on-year increase of – 10.27%, 3.89% and – 28.34% respectively. In terms of secondary high-end liquor, the sales of Fen Liquor, Sichuan Swellfun Co.Ltd(600779) , Jiugui Liquor Co.Ltd(000799) and shede were 1494248, 167716, 58073 and 13244400 yuan respectively, with a year-on-year increase of – 6.57%, – 0.42%, – 18.05% and 249.73% respectively; In terms of regional liquor, the sales of Yanghe, gujinggong, Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) , Anhui Kouzi Distillery Co.Ltd(603589) were 25643.19, 7021.06, 430704 and 17386600 yuan respectively, with a year-on-year increase of – 13.60%, 12.54%, 154.04% and – 30.47% respectively.
Condiment industry: sales volume maintained growth and average price increase narrowed. In October, the sales volume of soy sauce in offline supermarket channels was 1.475 billion yuan, a year-on-year increase of 5.23%; The sales volume of vinegar was 448 million yuan, a year-on-year increase of 1.03%; The sales of cooking wine was 235 million yuan, a year-on-year increase of 5%; The sales of seasoning powder was 325 million yuan, a year-on-year increase of 6%; The sales of seasoning sauce was 1.071 billion yuan, a year-on-year increase of 1%; The sales of hot pot seasoning was 472 million yuan, a year-on-year increase of 1%. In terms of traditional condiments, Foshan Haitian Flavouring And Food Company Ltd(603288) sales reached 817 million yuan, a year-on-year increase of 0.22%; Jonjee Hi-Tech Industrial And Commercial Holding Co.Ltd(600872) sales reached 214 million yuan, up 0.68% year-on-year; Jiangsu Hengshun Vinegar-Industry Co.Ltd(600305) sales reached 120 million yuan, up 3.10% year-on-year; The sales volume of Jiajia Food Group Co.Ltd(002650) was 51.9588 million yuan, a year-on-year decrease of 13.44%; Qianhe Condiment And Food Co.Ltd(603027) sales reached 186 million yuan, an increase of 23.01% year-on-year. In terms of compound condiments, Sichuan Teway Food Group Co.Ltd(603317) sales reached 76.277 million yuan, a year-on-year increase of 7.11%; Anji Foodstuff Co.Ltd(603696) sales reached 9.2443 million yuan, a year-on-year decrease of 11.47%.
Beer industry: the average price has declined and the concentration has decreased month on month. In October, the sales volume of beer in offline supermarket channels was 1.075 billion yuan, a year-on-year increase of 1.18%. Specifically, in terms of sales, the sales of Tsingtao Brewery Company Limited(600600) , China Resources beer, Beijing Yanjing Brewery Co.Ltd(000729) , Chongqing Brewery Co.Ltd(600132) , Guangzhou Zhujiang Brewery Co.Ltd(002461) were 26598.14, 17850.83, 9252.56, 82371 and 249202 million yuan respectively, with a year-on-year increase of 4.35%, – 2.85%, 13.625%, 46.48% and 9.93% respectively.
Dairy industry: the yogurt sector continues to be under pressure, while the cheese sector maintains growth. In October, the sales volume of liquid milk in offline supermarket channels was 7.493 billion yuan, a year-on-year decrease of 1%, the sales volume decreased by 2%, and the average price did not change significantly year-on-year; The sales volume of yogurt was 4.909 billion yuan, a year-on-year decrease of 12%, the sales volume decreased by 13% and the average price decreased by 1% year-on-year; The sales volume of milk powder was 2.026 billion yuan, a year-on-year decrease of 14%, the sales volume decreased by 10% and the average price increased by 8% year-on-year; The sales volume of cream cheese was 713 million yuan, an increase of 8% year-on-year, the sales volume increased by 20% year-on-year, and the average price decreased by 8% year-on-year.
Risk tips: macroeconomic downturn risk, food safety risk and industrial policy risk.
