Three executives resigned in one day, can Fenjiu still "divide the world"?

Chinanews.com, June 6 (Zhongxin Finance Peng Jingru) Recently, Shanxi Fenjiu announced the departure of three executives, including a vice chairman and two directors. The company's personnel changes coupled with the previous sharp fluctuations in stock prices, can Fenjiu still achieve an industry breakthrough?

Three "veterans" resigned in one day

Shanxi Fenjiu issued an announcement on the Shanghai Stock Exchange on the 5th, saying that due to retirement at the age of retirement, Tan Zhongbao applied to resign as vice chairman, general manager, member of the strategy committee and member of the nomination committee.

In addition, Shanxi Fenjiu also announced the news that directors Yang Jianfeng and Chang Jianwei resigned due to work adjustments. According to the arrangement of the superior, Yang Jianfeng, director of the company, was transferred to be a full-time external director of Shanxi Cultural Tourism Investment Holding Group Co., Ltd. and a full-time external director of Shanxi Aviation Industry Group Co., Ltd., and Chang Jianwei, a director of the company, was transferred to a full-time external director of Shanxi Cultural Tourism Investment Holding Group Co., Ltd. and a full-time external director of Huajian Sports Holding Group Co., Ltd.

Screenshot of the announcement of Shanxi Fenjiu.

Screenshot of the announcement of Shanxi Fenjiu.

Zhongxin Finance found that the three executives who resigned this time can all be called the "veterans" of Shanxi Fenjiu, and all of them have served as heads of multiple departments in Shanxi Fenjiu.

According to the Tianyancha APP, Tan Zhongbao joined the work in July 1986 and successively served as the deputy director and director of the Organization Department of the Party Committee of Fenjiu (Group) Company, and the deputy director and director of the Personnel and Labor Department; Director of the Organization Department of the Party Committee, Director of the Personnel and Labor Department, Director of the Supervision Department, Secretary of the Company's Discipline Inspection Commission and Executive Deputy General Manager of Shanxi Xinghuacun Fenjiu Group Co., Ltd., Vice Chairman of Xinghuacun Fenjiu Group Wine Development Zone Co., Ltd.; Vice Chairman, Deputy Party Secretary and General Manager of Shanxi Xinghuacun Fenjiu Group Co., Ltd., Chairman of Shanxi Xinghuacun Fenjiu Distillery Co., Ltd.

Chang Jianwei joined the work in November 1984 and served as the assistant to the general manager, the director of the marketing department and the secretary of the party branch of Fenjiu Group Co., Ltd., the executive deputy manager, executive director and manager of Fenjiu Sales Company, and the deputy general manager of Fenjiu Group Co., Ltd. Yang Jianfeng joined the work in June 11 and served as the assistant to the chairman of Shanxi Xinghuacun Fenjiu Group Co., Ltd., the deputy general manager of Fenjiu Distillery Co., Ltd., the vice chairman (concurrently), general manager, party committee member, and director (concurrently) of Shanxi Xinghuacun Fenjiu Group Wine Development Zone Co., Ltd.

Zhu Danpeng, vice president of the Guangdong Food Safety Promotion Association and a food industry analyst, told Zhongxin Finance that this time the change in personnel in Fenjiu is normal. He believes that Fenjiu should enter the "300 billion club" this year, which is definitely different from the original way of playing. From the perspective of the overall market, Fenjiu must have some new strategies; From the perspective of brand rejuvenation, a batch of fresh blood is also needed; From the perspective of the entire system process, further upgrading and optimization are required.

The stock price is depressed, and Fenjiu denies the pressure on capacity inventory

In addition to the change in the senior management team, the stock price is also a "big stone" on Fenjiu's chest. On May 5, Shanxi Fenjiu's stock price opened sharply down, falling to the lowest price point this year at 22.209 yuan, down 05.3% on the day, and closing at 14.224 yuan.

Previously, the growth rate of Shanxi Fenjiu's performance declined. According to the first quarterly report of Shanxi Fenjiu, the company achieved revenue of 2023.126 billion yuan in the first quarter of 82, a year-on-year increase of 20.44%; The net profit was 48.19 billion yuan, a year-on-year increase of 29.89%. The revenue growth rate of Shanxi Fenjiu in the first quarter of 2022 was 43.62%, and the net profit growth rate was 70.03%.

For the reasons for the decline in stock prices, Shanxi Fenjiu's internal production capacity and inventory problems and the flow of funds in the market have become the focus of discussion. According to the first financial news, on the problem that the capacity utilization rate of online transmission is less than 70%, Fenjiu staff said that Fenjiu's production capacity has been full for a long time.

Asked about the company's inventory, the staff said that there is still a certain channel pressure, but within a reasonable range, the impact on the company is not so great, and all aspects are relatively stable. In addition, the staff also said that some markets may have inverted wholesale prices and terminal prices, but the overall situation is relatively stable.

According to the Central Radio Network, Fenjiu staff said in response to the decline in stock prices that in terms of the performance of the capital market, institutions are more likely to operate shipments behind the scenes. If the company has further investigation results, it will fulfill its obligation to disclose information in a timely manner.

How far is the top three in the sprint industry?

Yuan Qingmao, secretary of the party committee and chairman of Fenjiu, has repeatedly said in public that "one of the three points of the world" is the phased goal of Fenjiu's revival, and now Shanxi Fenjiu, which has encountered eventful autumns, can still sprint to the first square of the industry?

At the 6 annual and 5 first quarter results briefing on June 2022, Shanxi Fenjiu revealed that it will strive to increase its operating income by about 2023% in 2023 compared with the previous year. In terms of the process of nationalization, we will continue to promote the East China market in the Yangtze River Delta and the South China market in the Pearl River Delta. This is a significant reduction from the 20% and 30% growth rates in the past few years.

Infographic. Visitors learn about Fenjiu-related products at the Shanxi Pavilion. Photo by China News Agency reporter Cui Nan

In response to investors' questions about "Bofen and Qinghuafen are close to or more than 10 billion, whether the sales company will carry out organizational fission", Fenjiu said that the company does not consider this aspect for the time being, but with the gradual increase of the sales scale of Fenjiu, the company will consider the optimization of marketing agencies according to the actual situation.

Wang Chaocheng, chairman of Shengchu Consulting, told the media that 2023 is a watershed for the industry, and the wine industry as a whole will enter an era of negative sales growth, low revenue growth or zero growth, and low profit growth for a long time, and it is likely to just begin; Although listed companies, as a dominant group of wine companies, have not completely exhausted their growth momentum, they are under pressure in the short term.

As one of the representatives of sub-high-end liquor, Fenjiu, under the background of deep industry differentiation and slowing growth, Shanxi Fenjiu may face a tough battle if it wants to break through. (End)