Beijing Shunxin Agriculture Co.Ltd(000860) announced price increases for its three high-end positioning products, but the impact on performance remains uncertain.
Beijing Shunxin Agriculture Co.Ltd(000860) raise the price of three products
12 24, Beijing Shunxin Agriculture Co.Ltd(000860) (000860) announced that the company intends to adjust the prices of some products, of which 42 degrees 500ml 100 years of Niulun mountain Baijiu (Fu Niu) up 20 yuan / bottle; 42.6 degrees 500ml hundred years of Niulun mountain Baijiu (Xi Niu): up to 30 yuan / bottle; 42.9 degrees 500ml hundred years of Niulun mountain Baijiu (national cattle): up to 50 yuan / bottle.
Beijing Shunxin Agriculture Co.Ltd(000860) said that the reason for the price increase is that the current production cost components such as raw materials and labor costs have increased by different ranges. The price adjustment plan will be implemented from January 1, 2022, involving only specific products in some regions. The impact of the price increase on the company’s operating performance in 2022 is still uncertain.
The above price increase products belong to the “century Niulanshan” series. Among the five product series of Beijing Shunxin Agriculture Co.Ltd(000860) , they belong to high-end wine, with a price of more than 50 yuan / 500ml. Baijiu mountain analyst Cai Xuefei told reporters at the securities times e that nielan mountain is a famous liquor itself, has monopoly advantages in the low and middle end market, and owns a large number of consumers in the country. This price increase is more about offset the rising production of finished products, which is part of the upgrading of the quality of the enterprise.
Beijing Shunxin Agriculture Co.Ltd(000860) at present, the main revenue still depends on low-grade wine, and the pace of upgrading to medium and high-end is slow. According to the financial report, in the first half of 2021, the company’s high-grade wine, medium-grade wine and low-grade wine contributed revenue of 1.013 billion yuan, 1.54 billion yuan and 7.631 billion yuan respectively, with low-grade wine accounting for more than 70%, while the revenue of high-grade wine also decreased by 12.68% year-on-year.
the production and sales of “century Niulanshan” products with the above price adjustment are not high, and the production, sales and inventory are not listed as main products in the Beijing Shunxin Agriculture Co.Ltd(000860) annual report. The reporter of securities times · e company did not find the above products on the mainstream e-commerce platform.
The overall profitability of alcohol products was also weak. According to the financial report, the gross profit margins of high-grade wine, medium-grade wine and low-grade wine in the first half of this year were 69.39%, 39.92% and 35.08% respectively, and they were all in a year-on-year downward trend.
As of the closing on December 24, Beijing Shunxin Agriculture Co.Ltd(000860) closed at 38.13 yuan per share, down 0.42%.
the sound rises frequently near the end of the year
Near the end of the year, the price rise in the liquor market was heard. On December 23, the rice wine manufacturer Zhejiang Guyuelongshan Shaoxing Wine Co.Ltd(600059) (600059) also announced price increases for a variety of products, including the blue and white wine series, with a price increase range of 10% – 20%; The price increase range of pure (alcohol) series is 4.65% – 12%; The price of Treasury series will be increased by 5% – 15%. In addition, the price of fruit wine, relief, color varieties, champion Red and other products will also be increased by 5% – 20%. Boosted by the news of price rise, Zhejiang Guyuelongshan Shaoxing Wine Co.Ltd(600059) on December 24, the share price strengthened and closed at 12.88 yuan per share, up 5.75%.
Recently, many Baijiu enterprises announced the price increase. In the middle of December, Luzhou Laojiao Co.Ltd(000568) suggested that Luzhou Laojiao Co.Ltd(000568) Tequ liquor (time-honored brand) 2018 version should be increased by 40 yuan per 500ml, and it is suggested that it should be increased to 388 yuan per 500ml; In addition, the Central South and southwest regions informed that the planned quota supply price of 52 degree Guojiao 1573 classic packaging (500ml * 6) terminal channel was increased by 70 yuan / bottle, and the unplanned quota supply price was adjusted to 1080 yuan / bottle. In addition, Wuliangye Yibin Co.Ltd(000858) , Shede Spirits Co.Ltd(600702) , Anhui Gujing Distillery Company Limited(000596) and other liquor enterprises have also issued price increase notices.
The market naturally turns its attention to Maotai. The frequent rise in prices and the superposition of the peak consumption season make the market care about whether the opportunity for Maotai price rise is mature. “After the abolition of the unpacking order and the introduction of new specifications of products, the public opinion and market foundation of Maotai price increase have been completed. It should be said that there is a price increase expectation from the perspective of price control during the Spring Festival.” Cai Xuefei said.
Baijiu in 2022 has attracted much attention. Jun Jun securities analyst Baijiu grassroots research found that in mid December, dealers around the region launched a 2022 start for each famous liquor. At the end of 2021, the price of famous wines generally stabilized and the inventory was relatively low; According to the general feedback of channels, the local price belt will move upward in 2021. For example, the price of 600-800 yuan in Jiangsu will expand rapidly, the price of 300-400 yuan in Anhui will expand rapidly, and the demand of 300-500 yuan in Hunan will be booming.
The Baijiu plate has been heard. Recently Kweichow Moutai Co.Ltd(600519) has maintained a continuous upward trend. On December 24, the daily closed at 2194.09 yuan per share, up 3.49%, with a total market value of 2.76 trillion yuan; The Baijiu index has also risen by more than 15% since November.
(E company)
