The liquor industry may enter the consolidation stage

Another comprehensive red opening - a few days ago, the semi-annual report of liquor listed companies was disclosed, and 19 liquor companies except Rock Shares achieved a total revenue of 181.

"In the first half of the year, baijiu listed companies performed well, but the overall slowdown in revenue and profit growth cannot be ignored

The strong hengqiang became the norm

In the first half of the year, the performance of the head liquor companies was quite eye-catching

Specifically, Guizhou Moutai and Wuliangye continue to maintain a large gap with other brands, and the status is difficult to shake

Yanghe achieved revenue of 18.

Industry insiders said that the high proportion of head liquor companies is enough to affect the direction of the entire industry, becoming the key to the good performance of liquor listed companies in the first half of the year, and for larger head liquor companies, it is rare

In stark contrast to the steady growth of leading liquor companies, the growth rate of liquor companies in some regions has slowed down, and the polarization of the liquor industry is still continuing

In the first half of the year, Hengqiang, a strong man in the liquor industry, became the norm

Signs of deceleration are already showing

From the overall performance point of view, in the first half of the year, the liquor industry continued to show structural prosperity

On the one hand, compared with the same period last year, the overall revenue and profit growth rate of liquor listed companies has slowed down

In addition, the semi-annual reports of 5 companies in the liquor circulation channel field, such as Huazhi Liquor Company, 1919, Yiyatong, Famous Shijia and Liquor Convenience, show that in the first half of this year, the revenue of the liquor channel end generally showed negative growth, and the net profit obtained by the enterprise was meager

Enter the stage of comprehensive strength competition

Despite the signs of deceleration, institutions are generally optimistic about the future performance of wine companies and the development of the industry

Minsheng Securities pointed out that the performance of liquor semi-annual report is differentiated, the performance of high-end + regional liquor is relatively stable, the second quarter of sub-high-end liquor is constrained by the consumption scene is more obvious, it is expected that the third quarter will gradually improve, the direction of structural expansion of the industry remains unchanged, and the fundamental marginal repair opportunities

Guosen Securities believes that the willingness of the public to consume is gradually repaired, with the Mid-Autumn Festival, the National Day peak season is approaching, liquor terminal sales are expected to continue to recover, it is expected that business banquets, public banquets and other scenes of recovery flexibility is larger, the channel has gradually entered the intensive payment preparation period, high-end wine, sub-high-end wine and regional wine faucets or have better performance

"'Double Festival' stockpiling has become the core battle in the second half of the year

Looking forward to the second half of the year, what kind of development trend will the liquor industry show?

Xiao Zhuqing, an analyst in the liquor industry, said that the uncertainty of the consumption scene of the catering and service industry affected by the epidemic is still there, and the consumption scene of the liquor industry will still be impacted; The strong will be stronger, which will further squeeze the market share of regional famous wines and regional small and medium-sized wine enterprises; The innovative marketing and circle marketing of liquor will become the norm, and more liquor companies will begin to pay attention to consumer opinion leaders, from attaching importance to channel businessmen to attaching importance to consumer opinion leaders, which is the awakening

"Most of the famous wine has completed the product structure upgrade, the continuous rise in sales prices has driven the performance and profit growth of enterprises, but the price ceiling has also appeared, the vast majority of wine companies in the first half of this year are digesting the early price increase potential, the structure upgrade speed of the liquor industry is also slowing down, began to compete in the efficiency of the industrial chain, and the wine companies entered the stage
of comprehensive strength competition.
" Cai Xuefei said
.

(Gu Yufei comprehensive finishing)

China Food News (2022.
09.
12.
04 edition)

(Editor-in-charge: Gu Yufei)