Capital hunts Maotai Town, enthusiasm fades
The small winery in Maotai Town was intensively renovated. Some spent over one million and some stopped production
In recent years, Kweichow Moutai (600519.SH) triggered the "sauce and wine craze" hitting the liquor track.
With the huge wealth creation effect, capital has entered the market one after another.
Open cellars, buy wineries... Large and small wineries have sprung up like bamboo shoots after a rain, appearing in Renhuai City, Guizhou with an area of less than 2,000 square kilometers.
However, the emergence of "small scattered and weak" wine companies in large numbers has also brought a negative impact on Renhuai City and Maotai Town.
In August of this year, Renhuai City started the comprehensive management of these small wineries.
Now, in the past four months, how is the remediation situation?
From December 6th to 8th, the Red Star Capital Bureau visited Renhuai City and Maotai Town again and found that after remediation, the environmental protection indicators of related rivers have improved.
At the same time, with the in-depth development of rectification actions and the background of "preventing the excessive capitalization of sauce and wine", those who want to deploy the sauce and wine industry to make topics and topics in the capital market have gradually "cooled down." .
Many wineries have closed doors and some have shown "discontinued"
Starting from Moutai International Hotel, drive north along Yintan Road, pass Yantan Village Cultural Square, and arrive at Renxigou in about 20 minutes by car.
Renxigou is located in the upper reaches of the Chishui River. Looking down from a height, Renxigou is surrounded by mountains and rivers. On both sides of the river are Hanwang Winery, Guizhou Qianchen Mingjiang Winery Co., Ltd., Maotai Town Guxiang Winery, Guizhou Lotus Wine (Group) Co., Ltd. and many other wineries.
The Red Star Capital Bureau walked along the mountain road and found that many liquor companies had their doors closed and there were few people and vehicles on the road.
Some liquor companies have a responsibility card with black lettering on a white background, with the words "Renhuai City’s Responsibility Card for Enterprise Insurance" and the name of the company, legal person, contact number, and the name of the insurance cadre are posted on the doors of some wine companies. And information about the unit.
In addition, in the production status column, relevant words such as "in production" or "discontinued" are marked.
A wine company called Guanol Brewery in Renhuai City, Guizhou Province, has been "discontinued".
Wu Mingyong, the owner of the wine company, told the Red Star Capital Bureau that the winery has been closed for more than two months. “Since September this year, we have received notices requesting rectification. Now the rectification has been in place and is waiting for the government to accept it.”
The Red Star Capital Bureau learned that Renxigou belongs to the sixth group of Yantan Village, Maotai Town.
A staff member of the village committee of Yantan Village said that the entire six groups are distributed with more than 20 large and small wine companies. Multi-departmental personnel conduct on-site inspection and acceptance, and the wine company can operate after passing the acceptance."
In addition, the Red Star Capital Bureau visited Gaoganzi Group, Taozhuwan, Box Rock and other places and found that all the busy wine companies in the past have pressed the "pause button", which appeared to be particularly deserted.
Some wineries closed for more than 20 days for rectification
Spend more than 1 million yuan
Wu Mingyong is still waiting for acceptance, and Maotai Town Yongtai Liquor Co., Ltd. (hereinafter referred to as "Yongtai Liquor") is already open for business.
"We passed the acceptance check on the afternoon of the 8th. The business was closed for more than 20 days for rectification and it was not in vain." A person in charge of Yongtai Wine Industry surnamed Zhang told Red Star Capital Bureau.
"Our winery was transformed by purchasing a local winery in 2011, and has now invested 300 million yuan." The person in charge said that according to the original plan, products should be launched next year, but due to this renovation, it is currently delayed. More than 20 days.
"In September this year, Maotai Town and Village invited us to a meeting and conveyed the notice of rectification." The person in charge told the Red Star Capital Bureau that there are many "small scattered and weak" wine companies around its winery. "Do they have any Legal business procedures, and some wines produced do not have quality assurance. These wine companies have many historical problems, and they do not pay taxes, which also makes the disorderly competition among wine companies more intense, which affects the quality and pollution of Maotai Town’s wine The ecological environment of Moutai Town." For this renovation, he believes that "it is to let the'small, scattered and weak' wine companies make room for other capable wine companies to develop."
At the beginning of October, Yongtai Wine Industry began to carry out rectification.
"We purchased four sets of condensing equipment, and at the same time, we also did anti-leakage treatment on the bottom of more than 30 pits." He revealed that after more than 1 million yuan was spent, the wine company will minimize sewage discharge after the renovation is completed. .
an expert:
Short-term and speculative capital is exiting
According to the "Three-year Action Plan for Comprehensive Management of Liquor Industry in Renhuai City (Draft for Review)" previously obtained by the Red Star Capital Bureau, Renhuai City will comprehensively manage more than 600 small, scattered, and weak liquor production enterprises through three years of hard work; to In 2025, the total number of liquor production enterprises in Renhuai City will drop significantly, and there will be no less than 200 enterprises above designated size.
So, how is the progress of this remediation?
Renhuai Liquor Industry Association and Renhuai Industry and Commerce Bureau declined to be interviewed.
However, according to the official WeChat public account of Renhuai Rong Media Center "Renhuai Today": As of mid-November, more than 580 wine companies in Renhuai have initiated the "Four Reforms" work, 331 applications for acceptance, and 283 passed the acceptance. Among them, 42 enterprises are above designated size.
The Red Star Capital Bureau found that since the remediation began in August this year, the capital invested in Maotai Town has gradually "cooled."
This year, the publicly announced listed companies in Moutai Town include Sunac China (01918.HK), Hainan Yedao (600238.SH), Zhongxing Fungi (002772.SZ), Eternal Asia (002183.SZ), Jihong Stock (002803) .SZ) etc.
After announcing the entry of Jiangjiu, Zhongxing Bacteria pulled six consecutive daily limit; Jihong shares rose before the announcement of the acquisition.
However, in October this year, Zhongxing Fungus Industry and Jihong Stocks respectively issued announcements announcing that they "terminated the acquisition of Shengjiao Winery" and "terminated the acquisition of no less than 70% equity in Guizhou Diaotaigong Winery." The reasons are "due to changes in the market's macro environment, etc.".
Liquor industry analyst Cai Xuefei told the Red Star Capital Bureau that in August this year, the Price Supervision and Competition Bureau of the State Administration for Market Regulation held a symposium on the supervision of the liquor market order, focusing on the investigation and solicitation of opinions on capital hunting sauce and wine.
At the same time, the rectification action started in Renhuai City has also raised the threshold for capital to enter the sauce and wine industry.
In Cai Xuefei's view, this is also the real reason for the withdrawal of the above two companies.
However, since August, companies that have invested in Maotai Town still have banned Jiufang, Gujing Gongjiu, and Jiangsu Variety Arts Group.
The person in charge of Yongtai Wine Industry, surnamed Zhang, believes that there are still some companies that are optimistic about the sauce and wine industry for a long time.
Chengdu Commercial Daily-Red Star News reporter Li Weiming and Li Chen