Recently, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) disclosed the annual report of 2021 and the first quarterly report of 2022. The report shows that the company achieved an operating revenue of 25.35 billion yuan in 2021, a year-on-year increase of 20.14%; The non net profit deducted was 7.373 billion yuan, a year-on-year increase of 30.44%. In the first quarter of 2022, the company achieved an operating revenue of 13.026 billion yuan, a year-on-year increase of 23.82%; The non net profit deducted was 4.898 billion yuan, a year-on-year increase of 28.53%.
It is worth noting that in 2021, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) continuously optimized the product structure, achieved scale growth in multiple categories, and achieved remarkable results in the strategy of focusing on high-end brands. In its annual report, the company said that 2022 is an important year for Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) accelerating development, transformation and leap forward. It is also a key year for rolling stones up the mountain, sailing against the current and climbing over the ridge.
steady growth and continuous development of medium and high-end products
As one of the leading Baijiu brands, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) has two famous Chinese wines, Yanghe and Shuanggou, two time-honored Chinese brands and six well-known Chinese trademarks. Leading products: Dream Blue, sky blue, sea blue, Suzhou liquor, zhenbaofang, Yanghe Daqu, Shuanggou Daqu and other series of Baijiu.
During the reporting period, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) performance increased steadily, and the sales scale ranked among the top three in the industry. It has obvious advantages in natural environment, quality technology, brand construction, marketing network and other aspects, forming a unique core competitiveness.
According to the annual report, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) products are divided into dream blue, Suzhou wine, sky blue, zhenbaofang, sea blue, Yanghe Daqu, Shuanggou Daqu, guijiu, xingdesi red wine, etc. according to the ex factory price, the products are divided into medium and high-grade and ordinary. Among them, medium and high-grade products include Dream Blue handmade class, Dream Blue M9, Dream Blue M6 +, Dream Blue Crystal version, Suzhou wine, sky blue, zhenbaofang (Difang, Shengfang), sea blue, etc. Ordinary products are mainly represented by Yanghe Daqu, Shuanggou Daqu, etc.
In 2021, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) medium and high-end liquor category continued to develop, realizing a revenue of 21.521 billion yuan, a year-on-year increase of 21.95%; Ordinary wine achieved a revenue of 3.118 billion yuan, a year-on-year increase of 16.05%; The gross profit margin was 81.28% and 46.32% respectively.
Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) adheres to the market orientation and competition orientation, focuses on the creation of Haitian dream large single products around the strategy of high-end and branding, constructs the “2 + 5 + 10” leading product layout, completes the cleaning of 715 SKUs, and makes the product planning clearer. At the same time, the marketing structure has been deeply adjusted, the marketing organization has been promoted to sink, and all brands have realized independent operation.
marketing upgrade and digitalization leading the second take-off
At the annual work conference at the beginning of this year, Zhang Liandong, Secretary of Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) Party committee, chairman and chairman of Shuanggou liquor industry, deeply analyzed the challenges faced by Yanghe, made a new journey of “secondary entrepreneurship” and “secondary take-off”, and worked hard to write a theme report of a new chapter of “stability, high quality, sustainability and better health”.
In the past year, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) in accordance with the strategic guidance of “12345” and the tactical plan of “double famous liquor, multi brand and multi category”, basically maintained a good trend of “progress in stability and excellence in progress”, showed a high degree of foresight in industrial marketing strategy and maximized the value of digital full link.
Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) around the value chain, open up customers, experience the whole scene and whole link data of the supply chain, carry out data integration, analysis, application and value-added, enable operation and decision-making, and achieve the three goals of “channel online, user data and business informatization”.
For online channels, Yanghe relies on the three code correlation mode of scanning codes by dealers, terminals and consumers to improve the authenticity of goods flow and make the purchase, sales and inventory information and channel logistics information visible in real time. In addition, Yanghe also uses AI enabled channels to collect a large number of high-quality data in a lightweight and sustainable way in combination with the actual business scenarios, takes the scenario application of new technology as the fulcrum, promotes the improvement of business efficiency, improves channel insight in combination with internal marketing and production data analysis and application, and creates conditions for the innovation of marketing model.
User data is another key point of Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) . At present, Yanghe will use the precipitated user data to explore users’ consumption demands by using the efficient community operation mode, so as to let users perceive the corporate culture and products and form a real polymer. And build a unified member value system, obtain accurate portraits of members with label system and big data analysis, combined with accurate advertising means, and rely on wechat, SMS and card coupons to accurately reach and interact with consumers efficiently. Today, Yanghe has interacted with more than 13 million fans for tens of millions of times.
It is noteworthy that Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) the marketing digital case has been accepted by the China business administration case center of the school of economics and management of Tsinghua University for classroom teaching in business schools.
multi category layout to broaden the competitive track
According to the annual report, in 2021, the price of Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) products increased steadily, the cost control was accurate and efficient, the order management was standardized and orderly, the leading products such as Yanghe dream blue, sea blue and sky blue grew steadily, the national layout of Shuanggou brand took key steps, and the growth trend of your liquor brand was obvious.
Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) chairman Zhang Liandong once clearly pointed out that we will build a brand system with clear structure, clear objectives, reasonable division of labor and accurate strategy around the development concept of “high-end and branding” and the idea of “striving for height, strengthening waist and stabilizing chassis”, so as to steadily promote the upward movement of product structure and form a new situation of multi drive development.
China International Capital Corporation Limited(601995) pointed out in the research report that Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) completed the annual sales task ahead of schedule in 2021, continuously optimized the product structure, maintained rapid growth of Dream Blue M6 +, continued to improve consumer recognition in Nanjing and other places, and the growth potential in the province is upward.
Under the guidance of the development strategy of “double famous liquor, multi brand and multi variety”, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) takes Shuanggou as an independent system, with independent marketing, management, production and finance. It acquired guijiu in 2016 and has two major production bases in Xiuwen and Maotai Town, Guiyang. The layout of sauce liquor is carried out in advance. In 2021, guijiu will expand the market in line with the hot sauce liquor. It is clear that “Yanghe, Shuanggou and expensive wine are Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) three core growth poles”. In March, 2022, Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) launched the high-end product Dream Blue craft class (Master), which further improved the cultural connotation of high-end Baijiu. In the same month, Guizhou guijiu released its strategic new product “guijiu family”.
China International Capital Corporation Limited(601995) predicts that Jiangsu Yanghe Brewery Joint-Stock Co.Ltd(002304) will continue to focus on the high-end brand in 2022, take dream blue M6 + as the growth core, and gradually increase efforts to cultivate products with a price of one thousand yuan. Meanwhile, with the increase of high-end liquor wholesale price in 2022, Dream Blue M6 + is expected to continue to benefit.
