According to the Red Star capital Bureau, “yellow rice wine” represents the enterprise Shanghai Jinfeng Wine Company Limited(600616) ( Shanghai Jinfeng Wine Company Limited(600616) . SH) released its annual report for 2021 on April 2, with an operating revenue of 649 million yuan, a year-on-year increase of 6.83% the net profit loss attributable to the shareholders of the listed company was 128458 million yuan, which was converted from profit to loss
Shanghai Jinfeng Wine Company Limited(600616) believes that the development of the yellow rice wine industry still can not keep up with the overall development speed of China’s wine industry, the effect of market nationalization is still not obvious, the value and cultural heritage of yellow rice wine still deviate from the performance of its consumer market, and the consumption area is still limited to the Yangtze River Delta and shows a trend of squeezed growth and competitionp align=”center” style=”text-align:left;”> yellow rice wine enterprises together p align = “center” style = “text align: left;” can’t keep up with a Baijiu .
Red Star capital Bureau inquired the statistical data of China Wine Association and learned that in 2021, yellow rice wine enterprises above Designated Size completed a total sales revenue of 12.717 billion yuan, a decrease of 5.24% compared with the same period of last year; The total accumulated profit was 1.674 billion yuan, a decrease of 0.97% compared with the same period of last year.
Yellow rice wine itself is a regional sketch product, which has not developed well in recent years and shows a downward trend as a whole. Even the sales revenue of all yellow wine enterprises above the national scale is not equal to a second line Baijiu enterprise.
Shanghai Jinfeng Wine Company Limited(600616) Caibao said that at present, the concentration of the yellow rice wine industry needs to be improved, and the whole industry is still characterized by low production value, small scale and low brand concentration. At present, the industrial structure is relatively loose, the production barriers are not high, the mainstream product differentiation of various manufacturers is not obvious, and the industry leading enterprises have not yet achieved absolute control over the regional market.
In the face of the performance of net profit from profit to loss, the report said that the main reason was that the competition in the regional stock market of yellow rice wine became more and more fierce and the growth of the company’s income scale was insufficient due to the continuous impact of the scattered epidemic during the reporting period. Affected by the increase of unit production cost and raw material cost. Social security and other preferential policies stopped, and labor costs increased compared with the same period last year. And the interest expense during the reporting period increased by 2657400 yuan compared with the same period of the previous yearP align = “center” Shanghai Jinfeng Wine Company Limited(600616) 2021 from profit to loss
In addition, the profit of the previous year includes the derecognition of estimated liabilities and the disposal income of the wholly-owned subsidiary Shikumen company from the sale of three aboveground buildings, which is not included in this period.
Shanghai Jinfeng Wine Company Limited(600616) for many years, it has focused on the main industry of yellow rice wine, but the yellow rice wine industry has always had problems such as low profit and insufficient brand power. In recent years, Shanghai Jinfeng Wine Company Limited(600616) has started to build high-end products. The net red brand “Shikumen” is positioned as the high-end brand of the company, but the market price is in the range of two hundred or three hundred yuan, and only can barely catch up with the product line of the medium grade baijiu. p align=”center” style=”text-align:left;”> small market and low profit p align = “center” style = “text align: left;” getting out of the low performance
During the reporting period, the net cash flow from Shanghai Jinfeng Wine Company Limited(600616) operating activities increased significantly compared with the same period of the previous year, mainly due to: first, the increase in revenue and the accelerated recovery of payment for goods increased the sales cash; Second, the output of base liquor was adjusted, the purchase of raw materials decreased, and the payment for goods decreased.
For 2022, Shanghai Jinfeng Wine Company Limited(600616) said that it would intensify reform, promote mode transformation, continuously optimize the management system, constantly consolidate the development foundation, get out of the low performance as soon as possible and promote the high-quality development of the enterprise.
Shanghai Jinfeng Wine Company Limited(600616) facing problems is also a common phenomenon in the yellow rice wine industry. Compared with Baijiu and beer, yellow wine industry has always been low in sense, the market is small in scale, and the growth is insufficient, and it is highly concentrated in the Yangtze River Delta market. At present, in addition to Shanghai Jinfeng Wine Company Limited(600616) , there are Zhejiang Guyuelongshan Shaoxing Wine Co.Ltd(600059) ( Zhejiang Guyuelongshan Shaoxing Wine Co.Ltd(600059) . SH), Kuaijishan Shaoxing Rice Wine Co.Ltd(601579) ( Kuaijishan Shaoxing Rice Wine Co.Ltd(601579) . SH), three representative enterprises of yellow rice wine are called “three swordsmen of yellow rice wine”. Unfortunately, the revenue scale of the three companies is relatively small. At present, none of them can reach 2 billion yuan.
On the investor interaction platform, Shanghai Jinfeng Wine Company Limited(600616) said that among the nearly 13 billion yellow rice wine capacity in China, Jinfeng is only 600 million. The main task of the company is to make the yellow rice wine industry stronger.
