This week: we have conducted a channel survey on the Baijiu market in Anhui and Jiangsu recently. The number of Anhui Spring Festival returning home exceeds the previous year. The epidemic control and control are relatively relaxed. The demand for gift giving and banquet demand has increased significantly. The Spring Festival Baijiu sales are beyond expectations. The product polarization is obvious, the middle and low-end and sub high-end price bands are better, the performance of local wine is better, and some products are out of stock. Jiangsu Baijiu sales in the market exceeded expectations, banquets, business and other needs strong recovery, product price upgrades obvious, South of Jiangsu area full flowering, each price band performance is better. On the whole, the enthusiasm of terminal goods preparation in Anhui and Jiangsu markets has improved, the dynamic sales are better than expected, the economic growth rate of the two provinces is leading, and the consumption upgrading trend in the province continues. We are optimistic about the future performance of Hui liquor and Su liquor, and believe that the sub high-end will continue to differentiate, and the regional leading liquor enterprises will stand out.
Industry highlights: 1) Sichuan liquor’s revenue increased by 14% and profit increased by 24.9% in 2021. 2) Fujian’s liquor and tea manufacturing industry has a revenue of more than 100 billion yuan. 3) Chacha Food Company Limited(002557) 2021 revenue of nearly 6 billion yuan. 4) Guangzhou Zhujiang Brewery Co.Ltd(002461) 2021 revenue of RMB 4.538 billion. 5) Chongqing Fuling Zhacai Group Co.Ltd(002507) 2021 net profit of 742 million.
Rise and fall of the secondary market: from February 21 to February 25, the commerce and trade of the secondary market was – 2.16%, agriculture – 3.31%, food and beverage – 4.01%, ranking 19th, 21st and 26th in CITIC 30 industry.
Risk tips: 1. The risk of macroeconomic weakness; 2. The risk of long-term epidemic prevention and control in China; 3. Risks of major food safety incidents; 4. Major agricultural epidemic risk.
