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    Home > Biochemistry News > Microbiology News > "Hebei Wang" old white dry wine area dealers rise, but sales revenue fell sharply

    "Hebei Wang" old white dry wine area dealers rise, but sales revenue fell sharply

    • Last Update: 2020-06-20
    • Source: Internet
    • Author: User
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    In the first half of this year, Lao Bai dry wine achieved operating income of RMB1,959 million, up 34.33 percent Year-on-Year, and net profit attributable to shareholders of listed companies was RMB194 million, up 32.67 percent YoYIn the second quarter, the company achieved revenue of 810 million yuan, net profit of 0.77 billion yuan, the growth rate of 12.34 percent, 8.45 percent, compared with the first quarter of 55.81 percent of revenue growth and 57.14 percent of net profit growth, a sharp slowdown in the month-on-month, mainly due to the acquisition of The Fenglian wine industry and table impact from the second quarter began to eliminate"Hebei Wang" old white dry wine national layout is not smoothold white dry wine for Hebei Province well-known wine enterprises, is the domestic old white dry incense-type leading enterprises, the company currently has about 70% of revenue from Hebei Province, there is "Hebei Wang" saidHowever, due to the large number of brands in Hebei Province, according to Oriental Securities (11.210, 0.10, 0.90%) research data, the old white dry wine in the province accounted for only more than 11%Compared with Anhui, Jiangsu and other provinces of liquor leader market share, the old white dry wine province market still has a lot of room for growthApril 2018, Old White Dry Wine completed its acquisition of a 100% stake in Fenglian Liquor, and after the completion of the transaction, Fenglian Liquor became a wholly owned subsidiary of Old White Dry WineFenglian Liquor, formerly affiliated with Lenovo Holdings, is a company that specializes in the management of liquor brands, with Chengde Qianlong Drunk, Anhui Wenwang Gong, Hunan Wuling and Shandong Kongfu family four regional liquor enterprisesAmong them, Qianlong drunk to plate city pot wine is the most famous, ranked in hebei province liquor first camp, in northern Fujian occupies a lot of market shareApril 2018, The Fondi wine industry began to scale up the performance of the old white dry wineStarting from the second quarter of this year, and the impact of the table eliminated, the second quarter growth rate slowed down, revenue growth returned to endogenous growth drivenApril 2018, lao bai dry wine held a competition strategy mobilization conference, shouted out the "dominant Hebei, the country"The acquisition of Fenglian wine industry seems to give the old Baigan slogan of the bottom gas, this acquisition can be counted as the company's national layout of an important service, not only the marriage of the board city, further solid if the Hebei market, but also to successfully cut into Anhui, Hunan and Shandong provincesfrom the product type, the old white dry wine products mainly to the old white dry incense type, the other four are to produce strong incense type (Chengde Qianlong drunk, Anhui WenwangGong and Shandong Kongfu home) and sauce flavor type (Hunan Wuling wine) mainly, through this acquisition, the company's product category has also been expandedHowever, because the aroma of these wine companies are very different from the old white dry wine, for the old white dry wine, the integration of resources such as channels is also a big testsemi-annual report shows that in the first half of 2019, Fenglian liquor industry's revenue composition, the highest proportion of the share of incomein the first half of this year, Fenglian's operating income was 741 million yuanDue to the april 2018 and the same schedule of the Fondi Liquor Industry, the revenue for january-March 2018 was not disclosed, and the first half of this year's revenue could not be compared with the first half of last yearAccording to previous disclosure, in the first half of 2017, Fenglian liquor industry's operating income of 592 million yuanoverall, revenue growth in the two-year period was 25% higher in January-June 2019 than in January-June 2017, with a more modest growth rateIn terms of wine companies, the first half of this year's revenue level of Wenwang Business Department and Kongfu Family Business Department has declined compared to the same period two years ago, the two business parts correspond to the Anhui and Shandong region's marketsdata show that in recent years, the income of the old white dry wine is not ideal, in 2015-2017 was 792 million yuan, 599 million yuan, 283 million yuanIn 2018, the old white dry wine industry expanded revenue from Anhui, Hunan and Shandong, with data showing that in addition to Anhui, Hunan, Shandong and Hebei provinces, the income of old white dry wine from other provinces is decliningIn 2018, sales revenue in provinces other than the four provinces mentioned above was 276 million yuan, down slightly from 283 million yuan in 2017and in 2015-2018, the number of dealers outside the province of old white dry wine was 757, 880, 1022 (except Hebei, Anhui, Hunan and Shandong provinces) the number of dealers increased year by year, 757, 880, 1022 and 1332In other words, sales of old white dry wine have fallen sharply despite a sharp increase in the number of regional dealers in Hebei, Anhui, Hunan and Shandong provincesthe lower level of the industry's net interest ratepublic information shows that the old white dry wine will be divided into: 40 yuan (including 40 yuan) for low-grade products, 40 yuan - 100 yuan (including 100 yuan) for mid-range products, more than 100 yuan for high-end productsthe per capita GDP in Hebei Province is low, the province's liquor consumption grade is not high, mainly concentrated in about 100 yuan, which to a certain extent affected the high-end process of old white dry, low-end products still account for a larger proportionIn 2018, the company's sales of high, medium and low-grade wine increased by 47.75 percent, 112.05 percent and 18.48 percent year-on-year, respectively, while sales revenue growth was 35.62 percent, 45.14 percent and 18.16 percent, respectivelyIn addition, although the price of high-end and low-grade wine tons increased slightly, but the growth rate has slowed significantly2018, although the company's premium wine revenue increased 35.62 percent year-on-year, and the revenue growth rate of low-grade wine is only 18.16 percent, but the ratio of revenue between the two is still almost as high as 1:1the current product price of old white dry wine is still at a low level in the industry, in 2018, the company's white wine ton price is about 51332.3 yuan / thousand liters, and the company's revenue size of the ride-hailing wine (19.200, -0.83, -4.14%) tonnes price is about 66760.29 yuan / thousand liters, and the current world margin (28.560, -1.43, -4.77%) is about 135770.43 yuan/kiloliters low-end products accounted for a relatively high proportion, making the level of gross margin of old white dry far below the industry average Wind data show that the gross margin of the old white dry in 2018 was 61.15 per cent, compared with 61.62 per cent in the first half of 2019, little changefrom from the end of last year and well below the weighted average gross margin of 76.35 per cent for 18 liquor listed companies according to Wind, in 2018, the operating income of old liquor was 10th out of 18 listed liquor companies, while net profit ranked 14th, and the company's net sales margin was not high, at 9.78 percent in 2018 In the first half of 2019, the company's net sales margin was only 9.91 per cent, less than 10 per cent, while the weighted average of 18 liquor listed companies was 36.32 per cent in addition to the impact of low gross margin, the high cost rate of old white dry wine is also a major factor In the case of insufficient brand strength, marketing means are essential, old white dry wine is very willing to give up this Compared with the company's penultimate net profit ranking, the sales costs of old white dry wine have been in the top 10 in recent years in the first half of this year, the sales expenses of old liquor were 513 million yuan, accounting for 26.31 percent of the current period's revenue, which is 264.43 percent of the current net profit In contrast, it can be seen that in the composition of sales expenses, wages and salaries, advertising fees and marketing fees, promotional fees accounted for a relatively large proportion Among them, salary and compensation is mainly the salary of sales staff, 2018 affected by the table, the company's sales staff from 845 to 1865 people, sales costs - staff compensation in 2018 year-on-year growth of 78.23 percent, the first half of 2019 year-on-year growth of 39.28 percent while the company's advertising and marketing and promotional fees increased by 23.73 percent and 89.86 percent year-on-year in the first half of this year, respectively, to 146 million yuan and 131 million yuan, respectively along with the slowing growth of ton prices, the old white dry also has the need to increase marketing efforts to obtain more market share, to win in volume is still the main way of old White Dry at present And in the case of brand power is not dominant, the old white dry wine needs a large number of sales investment for consumer cultivation, in a short period of time, the old white dry net profit rate or will still be suppressed Sina Financial Listed Company Research Institute liquor wave head / Cao Yu Source: Sina Financial News
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