Zhongxin Finance, March 31 (Reporter Xie Yiguan) On the evening of March 30, Kweichow Moutai's 2021 annual report was released, with bright performance and generous dividends, full of style.

Looking at other listed liquor companies, there are frequent reports of "good news".

Daily earnings of 144 million, Kweichow Maotaihao gas dividends

  Kweichow Moutai's financial report shows that its revenue was 109.464 billion yuan, an increase of 11.88% over the same period of the previous year, and it officially entered the "100 billion-level revenue club"; the net profit attributable to shareholders of listed companies was 52.460 billion yuan, an increase of 12.34% over the same period last year. Digit growth, daily earnings as high as 144 million yuan.

Data map: Citizens learn about information at a Kweichow Moutai counter in a supermarket in Fuzhou, Fujian.

Photo by China News Agency reporter Lv Ming

  Kweichow Moutai is not only the "king" of performance in the liquor industry, but also the "king of cash".

  In 2021, the net cash flow generated by Moutai's operating activities will be 64.029 billion yuan, a year-on-year increase of 23.92%; benefiting from the increase in commercial bank deposits, monetary funds will reach 51.81 billion yuan, a year-on-year increase of 43.55%.

  On March 29, Wuliangye announced that the company initially considered that the amount of cash dividends in 2021 should not be less than 11.5 billion yuan (tax included), which is also the highest annual dividend amount since Wuliangye went public.

  Just the other day, Kweichow Moutai, which is "not bad for money", also announced a "big money" dividend plan in its financial report. It plans to use the total share capital of 1,256,197,800 shares at the end of 2021 as the base to distribute cash dividends of 216.75 yuan (including 1,256.1978 million shares) to all shareholders of the company for every 10 shares. Taxes), a total of 27.228 billion yuan of profits were distributed, an increase of nearly 3 billion yuan over last year.

  As of February 28, the total number of shareholders of Kweichow Moutai was 162,591. Based on this calculation, each shareholder received an average dividend of about 167,500 yuan.

  In the financial report, Kweichow Moutai also gave its operating goals for this year, and its total operating income increased by about 15% over the previous year.

This is much higher than the revenue growth rate in the past three years.

Dare to set such a high goal, the bright performance in the first quarter may have given a lot of confidence.

  According to Kweichow Moutai's announcement, after preliminary accounting, in the first quarter of 2022, the company is expected to achieve revenue of about 33.1 billion yuan, a year-on-year increase of about 18%; it is expected to achieve a net profit attributable to shareholders of the listed company of about 16.6 billion yuan, a year-on-year increase of 19%. about.

Achieve a single season "starter".

These liquor companies are also "blue-chip students"

  On March 17, Shede Liquor Industry released its 2021 annual report, with revenue of about 4.969 billion yuan, a year-on-year increase of 83.8%; net profit attributable to shareholders of listed companies was 1.246 billion yuan, a year-on-year increase of 114.35%, temporarily listed in the liquor industry's "performance increase." King of Speed".

Screenshot from Shede Wine Industry's 2021 Annual Report.

  As for the reason for the increase in revenue, Shede Wine Industry said that the company continued to promote the old wine strategy, the quality of old wine was further recognized, the number and quality of dealers increased significantly, more and more loyal consumers, and sales revenue increased.

  Not only the willing wine industry, but the performance forecast of Jiuguijiu shows that the net profit attributable to shareholders of listed companies is expected to be 880 million to 950 million yuan in 2021, a year-on-year increase of 79% to 93.24%; Shanxi Fenjiu is expected to be attributable to shareholders of listed companies in 2021. The net profit of 5.234 billion yuan to 5.542 billion yuan, a year-on-year increase of 70% to 80%; Shuijingfang expects that the net profit attributable to shareholders of listed companies in 2021 will increase by about 64% year-on-year.

  Although the "leading" wine company Wuliangye has not achieved such a high growth rate, from the performance forecast, the growth rate has also surpassed that of 2020, a big step forward.

Its revenue in 2021 is expected to be around 66.2 billion yuan, a year-on-year increase of around 15%, and the net profit attributable to shareholders of listed companies is expected to be around 23.35 billion yuan, a year-on-year increase of around 17%.

From the perspective of performance growth, the gap between the "second brother" and "first brother" Kweichow Moutai is gradually narrowing.

  Judging from the published performance announcements of wine companies, benefiting from the trend of liquor consumption upgrading in recent years, the performance of high-end and sub-high-end wine companies has grown significantly. However, the situation of wine companies in some regions is not very good.

  For example, Golden Seed Wine is expected to realize a net profit loss of 155 million to 185 million yuan attributable to shareholders of listed companies in 2021; Huangtai Liquor expects to achieve a net profit loss of 10 million to 185 million yuan attributable to shareholders of listed companies in 2021 15 million yuan, a year-on-year decrease of 129.87% to 144.8%.

  This also reflects that the liquor industry presents a state of "the strong stay strong and the weak stay weak".

  "Strong brands include Moutai, Wuliangye, Luzhou Laojiao, etc., through the brand effects accumulated over the past decades, as well as continuous control of volume and price increases, increasing investment in the terminal market, expanding marketing influence, and occupying more consumer circles to create and share together. Other ways to obtain more channel resources and consumer mental resources. In addition to the stronger ones, they will further squeeze the market share of regional famous wines and regional small and medium-sized wineries." Liquor marketing expert Xiao Zhuqing told Zhongxin Finance and Economics reporter.

"The market is proud, the stock market is disappointed", why?

  Although there are frequent "good news" for liquor companies in 2021, in the capital market, each one is like a "deflated ball".

Recently, the liquor sector has fallen sharply, and many liquor stocks have suffered setbacks, including many blue-chip companies.

  A reporter from Zhongxin Finance and Economics found that as of March 31, the cumulative annual decline of Kweichow Moutai was 16.15%. In August 2021, Kweichow Moutai’s stock price once dropped to 1525.50 yuan.

Kweichow Moutai daily K chart.

  In addition, the annual cumulative decline of Wuliangye is 30.36%, the cumulative annual decline of Luzhou Laojiao is 26.78%, and the cumulative annual decline of Shanxi Fenjiu is 19.28%. Even the outstanding performance of Shede Wine Industry has a cumulative decline of 30.09%.

  From a comprehensive market analysis, since 2021, liquor stocks have no longer been "pursued" in the capital market, due to factors such as the correction of previous high valuations, economic slowdown, and the suppression of consumption scenarios under the new crown pneumonia epidemic.

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