Red Star Capital Bureau reported on October 26 that Shede Wine Industry (600702.SH) released its 2022 third quarter report in the evening, achieving operating income of 4.617 billion yuan in the first three quarters, increased by 28% year-on-year; and achieved net profit of 1.2 billion yuan, a year-on-year increase of 23.76%.
Among them, the performance in the third quarter was particularly impressive: operating income was 1.591 billion yuan, a year-on-year increase of 30.91%; net profit was 365 million yuan, a year-on-year increase of 55.66%.
↑Shede Wine Industry's revenue and net profit maintain high growth. Screenshot of the company's financial report
In addition to the double-digit growth in revenue and net profit in the first three quarters, many key operating data of Shede Wine Industry continue to improve, and the main product sales, channel construction, inventory turnover and other dimensions show a high-quality development trend.
From the perspective of product structure, Shede Wine Industry's sales revenue from high-end wines from mid-January to September was 3.751 billion yuan, a year-on-year increase of 32.38%; low-end wine sales revenue was 564 million yuan, a year-on-year increase of 17.49%. It can be seen that the company's product structure is reasonable, and the development of medium and high-end and low-end products is both in line to ensure sustainable and steady growth in performance. In terms of national layout of
, Shede Wine Industry's sales revenue from outside the province was 3.019 billion yuan from January to September, an increase of 34.3% year-on-year, and its national layout achieved significant results. During the reporting period, the company had a total of 2,312 dealers, an increase of 60 from the end of 2021. The sales volume of
products has continued to increase, which has also led to a continuous decline in inventory turnover days. From January to September, Shede Wine Industry's inventory turnover days were 811 days, a year-on-year decrease of 9.82%. This shows that the company's operating capabilities have been further strengthened and also reflects the current market situation of the continuous hot sales of products.
Shede Wine Industry has also put forward new strategic goals. Its 2022 restricted stock incentive plan (draft) clearly stated: It is committed to gathering the strength of the team to impact the scale of 10 billion yuan and entering the first echelon of the liquor industry, pursuing high-quality and sustainable development, and continuously enhancing the company's brand influence.
Many institutions are optimistic about Shede Wine Industry. Everbright Securities believes that the company's release of equity incentive plans has boosted management morale and enhanced market confidence. Guosen Securities pointed out that the company's launch of equity incentive plans can greatly stimulate the enthusiasm of the business team and ensure that the company's development will continue steadily. It is expected that under the guidance of the "old wine strategy", Shede Wine Industry will enter the 10 billion revenue camp in an orderly manner, and then achieve sub-high-end national expansion.
Red Star News Reporter Li Weiming
Editor Ren Zhijiang Editor Guo Zhuang
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