Following the January of this year, Beijing Shunxin Agriculture Co.Ltd(000860) of the Niu Lanshan parent company again adjusted its Baijiu price.
Compared with the previous time, the price adjustment was wider, with net content 500ml as the accounting unit, and Fen flavor Baijiu increased by 3 yuan to 15 yuan. Luzhou Baijiu increased 10 yuan to 15 yuan.
According to the interpretation of insiders, Beijing Shunxin Agriculture Co.Ltd(000860) this move may be related to its performance pressure.
Coupled with the implementation of the new national standard of Baijiu in June this year, Beijing Shunxin Agriculture Co.Ltd(000860) is obviously more bumpy as the "king of light bottle wine".
Niulanshan rises again
In March 18th, Beijing Shunxin Agriculture Co.Ltd(000860) announced that starting from May 1st, the net content of 500ml was calculated on the basis of the original price and the net quality of the Baijiu liquor was 3 yuan to 15 yuan. Luzhou Baijiu increased 10 yuan to 15 yuan.
As for the reasons for the price increase, Beijing Shunxin Agriculture Co.Ltd(000860) said that it was due to the significant increase in production costs due to the increase of raw materials, transportation and other costs in different ranges.
This is the second price rise of Beijing Shunxin Agriculture Co.Ltd(000860) in half a year. On January 1 this year, Beijing Shunxin Agriculture Co.Ltd(000860) has adjusted the prices of some products.
Looking back, from December 2020 to May this year, Beijing Shunxin Agriculture Co.Ltd(000860) raised the price of its products four times on the grounds of "rising operating costs and production costs".
Insiders interpret that Shunxin's move may be related to its performance pressure.
The announcement shows that Beijing Shunxin Agriculture Co.Ltd(000860) made a profit of 80-110 million yuan in 2021, a decrease of 80.95% - 73.81% over the same period last year.
Beijing Shunxin Agriculture Co.Ltd(000860) attributed the decline in performance to three aspects: first, the company's production and operation were under certain pressure due to the repeated impact of macroeconomic situation and covid-19 pneumonia; Second, affected by the downward trend of the pig cycle, the price of pigs decreased significantly compared with the same period last year, resulting in a large decline in the company's pig breeding and meat food processing industry compared with the same period last year; Third, the real estate business of the company is affected by the national real estate regulation policies, and the sales and payment collection of real estate projects are slow, which affects the overall operating performance of the company.
However, from last year's half year report, Beijing Shunxin Agriculture Co.Ltd(000860) 's most important Baijiu sector performance also fell into a bottleneck.
According to the first half of the year's report, Beijing Shunxin Agriculture Co.Ltd(000860) Baijiu business income 6 billion 536 million yuan, a slight increase of 1.09% over the same period last year. Specifically, Beijing Shunxin Agriculture Co.Ltd(000860) 50 yuan of high-end liquor operating income decreased by 1.96% over the previous year, and the gross profit margin increased by 0.17%; The operating income of mid-range liquor of 10-50 yuan decreased by 17.42% compared with the previous year, and the gross profit margin increased by 2.42%; The operating income of low-grade liquor below 10 yuan increased by 5.24% year-on-year, and the gross profit margin increased slightly by 0.01%.
Baijiu marketing expert Xiao Zhuqing pointed out to blue whale financial reporter that light bottle wine is no longer a big wine case in Niu Lan Shan. In addition to the previous companies that have been working hard to cultivate wine bottles such as Niu Lan Shan, Hongxing, old village head and a grain of grain, the major liquor companies and new wine enterprises have also begun to push the light bottles. In order to avoid the pressure of the sinking of first-line famous wines, regional wine enterprises also began to promote the self-help of empty bottles of wine. Niulanshan is facing dot like competitors, and the market space is occupied to a certain extent.
new national standard has far-reaching influence
It is worth noting that in June this year, the implementation of the Baijiu new national standard is imminent, which will further pressure Beijing Shunxin Agriculture Co.Ltd(000860) .
Baijiu Baijiu liquor is also known as the "Baijiu" liquor. The liquor is the most important one in the new international wine industry. Secondly, Baijiu Baijiu is classified into the classification of liquor and the liquor is removed from it.
People in the industry explained to blue whale financial reporters that liquor making technology can be divided into three types: solid state, liquid state and solid-liquid method. According to previous standards, only solid state Baijiu should not use grain edible alcohol, other raw materials, Baijiu and food additives. According to the new national standard, the above three categories are not allowed to use edible alcohol and food additives from non grain sources; Once used, it is the flavoring liquor, that is, the blended liquor is stripped from the Baijiu category.
Beijing Shunxin Agriculture Co.Ltd(000860) raw materials, cattle farm, beef cattle two, are raw materials such as water, sorghum, liquid Baijiu and edible essence.
So investors asked Beijing Shunxin Agriculture Co.Ltd(000860) questions, after the introduction of the new national standard Baijiu, the company's large single product Niu Lan Shan aging is not in line with the new regulations. How the company should deal with it is to continue to change the original formula, only to remove the Baijiu logo in the sales, or to adjust the grain brewing, and increase the cost price before selling, so that the company can respond honestly.
Beijing Shunxin Agriculture Co.Ltd(000860) responded that there are many determinants of the stock price trend. The stock market has risks and investment needs to be cautious. The products produced by the company are in line with national standards and meet consumer demand. Niu Lan Shan, as a few national brands and Baijiu liquor enterprises, is the result of consumer recognition and market selection.
This is also one of the important promoters of Beijing Shunxin Agriculture Co.Ltd(000860) price adjustment and switching to medium and high-end.
In fact, in 2019, Beijing Shunxin Agriculture Co.Ltd(000860) also began to launch the high-end product "quesheng" in an attempt to break through.
Baijiu expert Cai Xuefei pointed out to blue whale financial reporter that there are many advantages in the high-end transformation of Beijing Shunxin Agriculture Co.Ltd(000860) , one is the potential energy of brand itself, the two is the corresponding consumption base in the consumer market, and the three is the accumulation of technology for many years. There is still a one-year grace period after the trial implementation of the new national standard. I believe Shunxin can adapt quickly.
