Fundamentals review 1: from the revenue side, Baijiu is better than the public.
Revenue side: after the outbreak, the recovery of Baijiu and other high-end products is obviously better than the public products. Quarterly data showed that Baijiu and beer showed an improvement trend in 2021, while the condiments, snack foods, meat products and other industries in the public products showed a downward trend. Compared with the 2015-2019 years, Baijiu returned to the central level of growth and the recovery of popular products was poor.
Fundamentals review 2: from the profit side, Baijiu profit increased, public goods obviously under pressure.
Profit side: after the outbreak, the profit of Baijiu is obviously better than that of the public. The profit margin of high-end products basically remained at a high level, while the profit margin of mass products was obviously under pressure. Leading enterprises remained stable through cost narrowing, while the profit margin of small and medium-sized enterprises decreased significantly
Fundamentals review 2: from the profit side, Baijiu profit increased, public goods obviously under pressure.
Profit side: after the outbreak, the profit of Baijiu is obviously better than that of the public. The profit margin of high-end products basically remained at a high level, while the profit margin of mass products was obviously under pressure. Leading enterprises remained stable through cost narrowing, while the profit margin of small and medium-sized enterprises decreased significantly
