In the context of the continued decline of Baijiu stocks, the monthly operating data for the first time in the history of Kweichow Moutai Co.Ltd(600519) ( Kweichow Moutai Co.Ltd(600519) .SH) yesterday, causing widespread concern and speculation in the market. People close to the company told the financial associated press that this data release is a normal performance disclosure and does not need to be over interpreted. However, many Baijiu experts pointed out to reporters that for the first time to disclose the monthly data, changing the influence of the boss and boosting confidence may be the reason.
On March 7, Kweichow Moutai Co.Ltd(600519) released monthly operation data for the first time. From January to February 2022, the company achieved a total operating revenue of about 20.2 billion yuan, an increase of about 20% year-on-year; The net profit attributable to shareholders of listed companies was about 10.2 billion yuan, an increase of about 20% year-on-year.
For this report card, many Baijiu experts think that obviously exceed expectations, it is a good start. Chinese Baijiu, an analyst at Baijiu, said to reporters, “especially since the second half of last year, the market generally believed that the overall speed of Chinese liquor was slowing down and the epidemic situation was constantly affecting Moutai.” It is worth mentioning that in the past, the growth rate of Kweichow Moutai Co.Ltd(600519) performance was usually about 10%.
The reason for its growth is that Cai Xuefei believes that January and February is the selling season of Baijiu Spring Festival, while Moutai’s consumption scenes are mostly in high-end social occasions, and it has strong demand for rigid performance, laying a basic sector for its performance. Secondly, Maotai already has the financial attribute, which intensifies the pursuit of market sales. Finally, the direct reason is that a large number of new products listed in Maotai from the end of last year to January and February have contributed to the sales volume in different market segments. These products are not only in short supply, but also sought after by the market in terms of price.
Maotai’s high-end new products are called “the first high-end new products of Maotai” in the official launch period on December 29, 2021. In addition, Kweichow Moutai Co.Ltd(600519) also released five Chinese Zodiac wines in the year of the tiger on January 5, 2022, and officially released “Maotai 1935” on January 18, with the retail guide price of 1188 yuan / bottle.
In addition to the contribution of new products to the performance, Zhang Haoran, Secretary General of shishuijia Wine Industry Research Institute, believes that the change of marketing methods after Ding Xiongjun came to power is also a major reason for the growth of performance. “The restriction of Feitian Maotai is not so strong. The unpacking policy has been cancelled, 12 bottles of products per box and so on, which is different from the previous’ receiving and playing ‘.” He said: “in the past, Maotai made new products in a relatively low-key way, but from this year’s launch” Maotai 1935 “From the point of view, its marketing actions are more open and uniform. At the same time, it has held thousands of tasting meetings and national light shows all over the country. Such big actions were not available when Maotai promoted new products in the past, so the new leaders may pay more attention to marketing, which may also be one of the reasons for Kweichow Moutai Co.Ltd(600519) this release of business data.”
However, with the rapid development of performance, the secondary market did not buy it. Since reaching the high of 2216 yuan / share at the end of last year, Kweichow Moutai Co.Ltd(600519) share price has been falling all the way. It fell below the 1800 yuan mark on March 3 and closed at 1749 yuan / share at noon today.
Therefore, for the reasons for the unprecedented release of monthly operating data, Cai Xuefei said: “from the industry perspective and local policy perspective, in January this year, Guizhou proposed to build” the world Maotai Baijiu liquor gathering area “,” 14th Five-Year “. In the industry doubling plan, the Baijiu industry will become the most important support and pillar for Guizhou. Secondly, Baijiu stock price has been dropping steadily recently. As an industry leader, Moutai has released excellent monthly performance report to a certain extent, which can boost market confidence.
Zhang Haoran believes that the release of the monthly business report may also be related to the previous “change of command”. “After Ding Xiongjun came to power, he paid close attention to the operation. Moreover, in the 14th five year plan, it was pointed out that Kweichow Moutai Co.Ltd(600519) should reach 200 billion in sales revenue by 2025 and enter the world’s top 500. Under these objectives, the assessment of the company’s business indicators has become more important. The release of performance statements can spur himself and allow the public to supervise.”
