Topic of this week: on March 9, Wuliangye Yibin Co.Ltd(000858) released the performance forecast for 2021. During the reporting period, the company achieved a revenue of about 66.2 billion yuan, an increase of about 15% year-on-year; The net profit was about 23.35 billion yuan, a year-on-year increase of about 17%. On March 11, Wuliangye Yibin Co.Ltd(000858) held the 2022 investor communication meeting in the form of video. Chairman Zeng Congqin led the new leading group to attend and communicate with investor representatives, professional institutional analysts and researchers. As the typical representative of the Luzhou Baijiu liquor and the industry leader, Wuliangye Yibin Co.Ltd(000858) has maintained a steady development of high quality development in recent years, and has achieved two digit growth over the past 6 years and 24 quarters. The company’s steady development and steady progress has continued to consolidate. We believe that with the double wheel drive of main brands and cultural wines and the strengthening of the cultivation of consumption circles, Wuliangye Yibin Co.Ltd(000858) performance is expected to grow steadily in the future and realize the return of reasonable value.
Industry highlights: 1) Luzhou Laojiao Co.Ltd(000568) revenue exceeded 20 billion mark. 2) From January to February, the revenue of Fen Liquor exceeded 7.4 billion, and the growth rate of net profit exceeded 50%. 3) Wuliangye Yibin Co.Ltd(000858) revenue and net profit are both high. 4) Jiugui Liquor Co.Ltd(000799) 1-february net profit increased by 130% year-on-year. 5) Yili’s revenue from January to February increased by 15% year-on-year and its profit increased by 20%. 6) Oatly’s revenue increased by 52.6% in 2021. 7) Yonghui Superstores Co.Ltd(601933) 1-february revenue increased by 3% year-on-year. 8) Zhe Jiang Li Zi Yuan Food Co.Ltd(605337) 2021 net profit increased by 22.31% year on year.
Rise and fall of the secondary market: from March 7 to March 11, the food and beverage of the secondary market was – 2.03%, agriculture was – 3.77%, commerce and trade was – 4.11%, ranking No. 4, 8 and 11 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.
