Today, Shede Spirits Co.Ltd(600702) (600702. SH) shares fell, closing at 196.85 yuan, down 6.26%.
China Merchants Securities Co.Ltd(600999) researcher Yu Jiaqi released the Research Report “clarification of main contradictions and sustainable growth period” on December 6, 2021. He believes that the clearing of main contradictions and sustainable growth period can be expected. The channel problem of market attention should be viewed from the perspective of development. Compared with the development of Fenjiu in the past 17-18 years, the stability of the price system and the continuous investment in consumer education are the most critical issues, which have been grasped in place. We look forward to continuously cultivating consumers, opening up space and realizing sustained and high growth under the positioning and blessing of old wine. The company’s valuation level is at a relatively low level in the industry and is expected to improve in the future. Adjust EPS 3.65, 5.28 and 7.36 in 21-23 years, corresponding to 47 x PE in 22 years, and raise it to “strongly recommended-a”.
