On the evening of April 15, Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) released an annual report, which showed that the company achieved an operating revenue of 6.406 billion yuan in 2021, an increase of 25.12% year-on-year; The net profit attributable to the parent company was 2.029 billion yuan, a year-on-year increase of 29.5%; Deduct non net profit of RMB 2.033 billion, with a year-on-year increase of 30.5%. Among them, the revenue of Jiangsu market accounts for more than 90% of the company’s revenue in that year.
According to the annual report, the main business of Baijiu liquor business was 6 billion 369 million yuan, an increase of 25.27% over the same period. The gross profit margin was 74.61%, with a year-on-year increase of 3.5%; The operating cost was 1.617 billion yuan, a year-on-year increase of 10.13%. The production volume of Baijiu was 3653654 KL, an increase of 17.72% over the same period last year. The sales volume was 3199480 kiloliters, with a year-on-year increase of 0.76%; The inventory was 115688 kiloliters, with a year-on-year increase of 64.63%.
In terms of products, the sales revenue of special a + products with a factory guide price of more than 300 yuan represented by Guoyuan was 4.165 billion yuan, a year-on-year increase of 35.71%; The sales revenue of special class a products with the factory guide price of 100300 yuan represented by Guoyuan and Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) was 1.714 billion yuan, up 14.08% year-on-year; The sales revenue of class a products in the price band of 50-100 yuan was 265 million yuan, with a year-on-year increase of 4.43%; The sales revenue of class B in the price band of 20-50 yuan and class C in the price band of 10-20 yuan were 138 million yuan and 835964 million yuan respectively, down 13.32% and 9.78% respectively.
During the reporting period, the company’s sales expenses increased by 10.52% to 968 million yuan, and the management expenses increased by 12.63% to 258 million yuan Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) said that the increase in sales expenses was mainly due to the increase in promotion and prize cashing expenses and the salary of business personnel, and the increase in administrative expenses was mainly due to the increase in employee salary.
On the evening of April 6, Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) announced that Zhou suming, who had been at the helm for Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) 21 years, retired and resigned as chairman and director of the company. Vice chairman Gu Xiangyue took over as chairman. For Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) , we should not only achieve the goal of operating more than 10 billion in advance, but also take expanding the brand and market, especially increasing the market share outside the province as an important task.
According to the annual report, the sales revenue outside Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) Jiangsu Province in 2021 was 447 million yuan, accounting for 7.01% of the total regional revenue, which was slightly higher than the 6.45% sales revenue outside the province in 2020.
Jiangsu is still the company’s most important market at present. The company’s operating revenue in Jiangsu market in 2019, 2020 and 2021 accounted for 93.62%, 93.55% and 92.99% of the company’s operating revenue in that year respectively Jiangsu King’S Luck Brewery Joint-Stock Co.Ltd(603369) said that if the market competition is intensified or the consumption demand of Baijiu is decreasing in Jiangsu, and the failure of the company to expand other markets in time, it will be disadvantageous to the company’s production and business activities, thus affecting the realization of strategic objectives.
