On October 16, Kweichow Moutai released its third quarter financial report this year, and its actual income and profits were basically inconsistent with the income and profits attributable to shareholders released on the 13th.
data shows that in the first three quarters of this year, the company achieved operating income of 87.16 billion yuan, a year-on-year increase of 16.77%; and achieved net profit of 44.4 billion yuan, a year-on-year increase of 19.14%. Among them, in the third quarter, the company achieved operating income of 29.543 billion yuan, a year-on-year increase of 15.61%; and achieved net profit of 14.606 billion yuan, a year-on-year increase of 15.81%.
In the first three quarters, the company Moutai liquor achieved revenue of 74.4 billion yuan, and the series of liquors achieved revenue of 12.54 billion yuan. After a series of low-priced products cleaning and product sorting, as well as Maotai 1935 after repricing, product reform began to take effect: the revenue of series wines in this quarter was 42% year-on-year, and the contribution to alcohol revenue reached a new high, reaching 17%.
Kweichow Moutai’s two-wheel drive strategy of Moutai and series of liquors proposed by Kweichow Moutai is steadily advancing.
Since the beginning of this year, Moutai’s market performance has remained strong, and the company’s continued promotion of new products and release of production capacity has also provided strong support for performance growth. For example, among the new products launched by the company, the rare Moutai, Moutai 1935, 100ml small-capacity Moutai, etc. cover the blank price band , and Moutai 1935 even makes up for the company's overall price band of 1,000 yuan. In addition, the company's continuous release of production capacity is expected to create more incremental space. Tianfeng Securities published a research report stating that the company's Maotai liquor base liquor energy storage has steadily grown, ensuring the quality of finished wine and future development space; the production of series wines has increased overall, and the production capacity has been released in an orderly manner. It is expected that the actual production capacity will reach 66,000 tons in 2023. The production capacity limit of
series wine is weaker than that of Moutai liquor. It is generally brewed in the core production area of Maotai Town . At the same time, although the brand and product strength of the series wine are weaker than that of Moutai liquor, it still has a certain influence in the market. so the series wine has the hope to better achieve both volume and price increase.
