February Baijiu business statistics revealed that we focused on liquor, condiments, beer, dairy products, frozen foods and dairy products under the sector line of business data analysis. Baijiu sales fell and Moutai grew steadily. The sales volume of condiment industry declined and the price increased steadily. The sales of beer industry decreased year-on-year, and the overall average price performed well. The sales volume of dairy industry declined as a whole, and Shanghai Milkground Food Tech Co.Ltd(600882) rose steadily. The average price of frozen food industry increased year-on-year, and the market pattern was better.
Baijiu industry: sales fell and high-end liquor performed better. In terms of high-end liquor, the sales of Kweichow Moutai Co.Ltd(600519) , Wuliangye Yibin Co.Ltd(000858) , Luzhou Laojiao Co.Ltd(000568) and Luzhou Laojiao Co.Ltd(000568) were 1.224 billion yuan, 1.039 billion yuan and 234 million yuan respectively, with a year-on-year increase of 26.07%, – 9.52% and – 35.93% respectively. In terms of secondary high-end liquor, the sales volume of Fen Liquor was 199 million yuan, a year-on-year decrease of 29.54%%; In terms of regional liquor, the sales of Yanghe and gujinggong were 512 million yuan and 187 million yuan respectively, with a year-on-year decrease of 24.77% and 12.26% respectively.
Condiment industry: volume reduction and price increase, and mobile sales are still weak. In February, the sales volume of soy sauce in offline supermarket channels was 1.087 billion yuan, a year-on-year decrease of 26.63%; The sales volume of vinegar was 364 million yuan, a year-on-year decrease of 24.19%; The sales volume of cooking wine was 169 million yuan, a year-on-year decrease of 34.66%; The sales of seasoning powder was 305 million yuan, a year-on-year decrease of 34.37%; The sales volume of seasoning sauce was 1.092 billion yuan, a year-on-year decrease of 19.25%; The sales of hot pot seasoning was 520 million yuan, a year-on-year decrease of 22.48%. In terms of traditional condiments, Foshan Haitian Flavouring And Food Company Ltd(603288) sales reached 673 million yuan, a year-on-year decrease of 22.21% Qianhe Condiment And Food Co.Ltd(603027) sales reached 126 million yuan, a year-on-year decrease of 24.29%. In terms of compound condiments, Sichuan Teway Food Group Co.Ltd(603317) sales reached 82 million yuan, a year-on-year decrease of 25.23%.
Beer industry: sales fell year-on-year, and the average price continued to rise. In February, the sales volume of beer in offline supermarket channels was 1.199 billion yuan, a year-on-year decrease of 35.06%. Specifically, in terms of sales, the sales of Tsingtao Brewery Company Limited(600600) , China Resources beer and Chongqing Brewery Co.Ltd(600132) were 362 million yuan, 181 million yuan and 07 million yuan respectively, down 35.84%, 39.54% and 25.68% year-on-year respectively.
Dairy industry: the price of liquid milk increases, and the price of cheese increases. In February, the sales volume of liquid milk in offline supermarket channels was 7.452 billion yuan, a year-on-year decrease of 21.13%, the sales volume decreased by 20.34% and the average price increased by 1.57% year-on-year; The sales volume of yogurt was 5.073 billion yuan, a year-on-year decrease of 27.18%, the sales volume decreased by 29.42% and the average price increased by 6.42% year-on-year; The sales volume of milk powder was 1.71 billion yuan, a year-on-year decrease of 18.45%, the sales volume decreased by 21.75% and the average price increased by 8.53% year-on-year; The sales volume of cream cheese was 866 million yuan, a year-on-year decrease of 18.45%, the sales volume decreased by 19.23% and the average price decreased by 2.75%..
Frozen food industry: the average price has increased year-on-year, and the market pattern is improving. In February, the sales volume of quick-frozen food in offline supermarket channels was 4.758 billion yuan, a year-on-year decrease of 13.17%. The offline market share of CR2 increased from 31.17% in February 21 to 33.95% in February 22, and the concentration increased slightly.
Risk tips: macroeconomic downturn risk, food safety risk, industrial policy risk, and the risk that the information used in the research report is not updated in time.
