On January 13, Tsingtao Brewery Company Limited(600600) (600600) issued the announcement of performance increase in 2021. It is estimated that the net profit attributable to the shareholders of the listed company in 2021 will be about RMB 3.15 billion, an increase of about RMB 948 million, a year-on-year increase of about 43%.
The report shows that in Tsingtao Brewery Company Limited(600600) 2021, the net profit attributable to shareholders of listed companies after deducting non recurring profits and losses is expected to be about RMB 2.194 billion, an increase of about RMB 379 million compared with the same period of last year, a year-on-year increase of about 21%.
For the pre increase of performance, Tsingtao Brewery Company Limited(600600) said that in 2021, under the leadership of the board of directors, the company will continue to unswervingly promote the implementation of high-quality development strategy, and pay attention to epidemic prevention and control and business development. The company gave full play to the brand and quality advantages of Tsingtao Brewery Company Limited(600600) , actively explored foreign markets, accelerated the upgrading of product structure, actively increased revenue and expenditure, reduced cost and increased efficiency, and realized the sustainable growth of operating profit.
In addition, in 2021, the government will collect and store Tsingtao Brewery Company Limited(600600) land located in yangjiaqun plot. After confirming the income, the land expropriation compensation is expected to increase the company’s net profit attributable to the shareholders of the listed company by about RMB 436 million.
In terms of capital market, at the end of last year, the mood of the food and beverage sector warmed up under the expectation of price increase, and the sector also rose as a whole. In 2022, due to the failure of expectation, the sector has made significant adjustment recently, and the Tsingtao Brewery Company Limited(600600) share price has also fluctuated downward.
In this regard, Bohai Securities Research Report believes that, from a fundamental point of view, the industry has not changed substantially, but the repeated emotional disturbance of the sector is mainly related to higher valuation. At the current time point, it is recommended to select stocks with reasonable valuation and their own growth attributes. In terms of mass products, with the opening of the price increase cycle, the upstream cost pressure may be relieved in the second half of the year. At present, the beer sector still has a relatively better competition pattern and smoother pressure transmission.
Tianfeng Securities Co.Ltd(601162) the food and beverage industry research team also said that the next 2-3 years will usher in a beta market in the beer industry, mainly due to the release of profit elasticity brought by structural upgrading or accelerated superposition of industry efficiency improvement. In the beta market, it is recommended to pay attention to the subject matter with significant marginal change.
In addition, the reporter noted that near the Spring Festival, the consumer market began to boom, and the beer market also competed to enter the high-end market. After China Resources beer launched the super high-end series of beer “Li”, as the most famous Chinese brand in the international market, Tsingtao Brewery Company Limited(600600) also recently released its super high-end new product “a legend”. On tmall and other e-commerce platforms, the price of this new product is 2698 yuan / 1.5L * 2 bottles, and the discounted price is 2438 yuan.
The price of Legend I is 2438 yuan
In addition to Tsingtao Brewery Company Limited(600600) , Budweiser beer has also joined the competition of 1000 yuan beer. Recently, it launched a 798ml limited edition beer called Budweiser “master legend” on the e-commerce platform, with a price of 1588 yuan / bottle, even exceeding the official price of Feitian Maotai.
For the launch of China’s thousand yuan beer, the Research Report of Ping An Securities shows that the sales structure of China’s beer industry has been upgraded to high-end since 2018. The sales of medium and high-end beer has increased from 11% in 2002 to 33% in 2020 (12% / 21% for high-end / middle end respectively). In 2020, the sales of medium and high-end beer in the United States accounted for 77% (34% / 43% for high-end / middle end respectively), Therefore, there is still much room for high-end beer in China.
