The long rumored "Maotai price rise" finally has an appearance. On January 1, it was reported that since new year's day this year, the prices of Kweichow Moutai Co.Ltd(600519) new treasure Maotai liquor and Kweichow Moutai Co.Ltd(600519) old liquor 15 have increased. On January 2, the reporter of Huaxia times obtained confirmation from Kweichow Moutai Co.Ltd(600519) relevant persons.
The long rumored "Maotai price rise" finally has an appearance.
On January 1, it was reported that since new year's day this year, the prices of Kweichow Moutai Co.Ltd(600519) new treasure Maotai liquor and Kweichow Moutai Co.Ltd(600519) old liquor 15 have increased. On January 2, the reporter of Huaxia times obtained confirmation from Kweichow Moutai Co.Ltd(600519) relevant persons.
Previously, on December 31, Kweichow Moutai Co.Ltd(600519) released the performance forecast for 2021. It is estimated that the total operating revenue for the whole year will be about 109 billion yuan, including about 93.2 billion yuan for Maotai liquor and about 12.6 billion yuan for series liquor, with a year-on-year increase of about 11.2%; The net profit attributable to the shareholders of the listed company is expected to be about 52 billion yuan, a year-on-year increase of about 11.3%.
At the beginning of 2022, Kweichow Moutai Co.Ltd(600519) raised the price of its two products. What signal has it released? What impact will it have on the performance in 2022? Will the price rise of Feitian Maotai be far behind?
the price was raised less than a week after the new product was launched
Maotai finally raised the price, but it was not "flying", one of which was a new product launched two days ago.
The reporter learned that from January 1, the prices of Kweichow Moutai Co.Ltd(600519) new treasure Maotai liquor and Kweichow Moutai Co.Ltd(600519) old liquor 15 increased. Among them, the retail guide price of the new rare Maotai liquor was increased by 100 yuan, from 4499 yuan / bottle to 4599 yuan / bottle; The retail guide price of aged Kweichow Moutai Co.Ltd(600519) liquor 15 was increased by 1000 yuan, from 4999 yuan / bottle to 5999 yuan / bottle.
On January 2, the reporter of Huaxia times confirmed the news to Kweichow Moutai Co.Ltd(600519) relevant people. It is worth mentioning that the new rare Maotai liquor with the price increase was officially launched on December 29, 2021. At that time, the reporter asked Maotai and learned that the direct selling price of the product was 4499 yuan / bottle. Treasure Maotai liquor is a super high-end product positioned between high-quality Maotai liquor and aged Kweichow Moutai Co.Ltd(600519) liquor 15.
Another aged Kweichow Moutai Co.Ltd(600519) liquor 15 with a price increase of up to 1000 yuan is a super high-end product together with rare Maotai liquor. According to the 2020 Research Report of Huafu securities, Maotai's ultra-high-end products (non-standard) include vintage wine, Zodiac wine, customized wine, commemorative wine and wedding Maotai wine, accounting for about 10-15% of liquor revenue, and aged Kweichow Moutai Co.Ltd(600519) wine 15 belongs to vintage wine series.
One is a new product just launched, and the other is a direct price increase of 1000 yuan. Is Kweichow Moutai Co.Ltd(600519) This a big step? On January 2, Cai Xuefei, a Baijiu marketing expert, interviewed by the China Times reporter: "Because ultra-high-end products are mainly aimed at the investment and collection market, their own consumer population is relatively narrow and their sensitivity to price is not high. At this time, raising the price can not only express Maotai's determination to straighten out the price in accordance with the market law, but also test the market's response and pave the way for Maotai's price management."
the annual revenue in 2021 exceeded 100 billion
Although one of the two products with a certain popularity and the other with a large price increase, in the view of industry insiders, it has a limited impact on the performance of Maotai in 2022.
"As commemorative cultural products, the value of these two products is more reflected in the investment and collection market, so they must be limited. For Maotai, they play a more role in expanding the price boundary and space, and have little impact on the overall performance of Maotai." Cai Xuefei added.
On December 31, 2021, Kweichow Moutai Co.Ltd(600519) just released the announcement of production and operation in 2021. The announcement shows that in 2021, about 56500 tons of Maotai base liquor and about 28200 tons of series base liquor will be produced; It is estimated that the total operating revenue will be 109 billion yuan, with a year-on-year increase of about 11.2%, including about 93.2 billion yuan for Maotai liquor and 12.6 billion yuan for series liquor. The net profit attributable to the shareholders of the listed company is expected to be about 52 billion yuan, a year-on-year increase of about 11.3%. It is worth mentioning that the revenue of Kweichow Moutai Co.Ltd(600519) listed companies exceeded 100 billion yuan for the first time.
According to the data shown in the announcement, Maotai base liquor and series base liquor increased significantly in 2021 compared with 2020, Maotai base liquor increased from 50000 tons in 2020 to 56500 tons, and series base liquor increased from 25000 tons in 2020 to 28200 tons. From 2017 to 2021, Kweichow Moutai Co.Ltd(600519) produced 42700 tons, 49700 tons, 49900 tons, 50000 tons and 56500 tons of Maotai base liquor respectively, with a year-on-year growth rate of 9%, 16.39%, 0.40%, 0.20% and 13%. It can be seen that Maotai's production capacity will achieve the second highest growth rate in recent five years in 2021.
Cai Xuefei believes that the announcement of Maotai's production and operation in 2021 shows Maotai's strong market position and strong control over the steady development of the enterprise.
Restricted by the objective environmental factors of brewing Maotai liquor, it is a tacit fact that Maotai's production capacity is limited. It remains to be seen how Ding Xiongjun, the new chairman of Maotai, can maintain double-digit annual revenue growth under the condition of limited capacity growth. At present, since taking office in August this year, Ding Xiongjun has attached great importance to the rectification of Maotai market prices and successively launched a number of measures, such as canceling the "unpacking order". It remains to be seen whether the price increase of the new rare Maotai liquor and the aged Kweichow Moutai Co.Ltd(600519) liquor 15 is only the preheating of the price increase of the main product Feitian Maotai.
(Huaxia times)
