Economic Observer Reporter Zhang Xiaohui On October 17, 2022, the stock price of Anhui Gujing Gongjiu Co., Ltd. (000596.SZ, hereinafter referred to as "Gujing Gongjiu") opened lower directly, and the daily limit was hit during the session, and the limit was not opened until 15 mi

Economic Observer Reporter Zhang Xiaohui On October 17, 2022, the stock price of Anhui Gujing Gongjiu Co., Ltd. (000596.SZ, hereinafter referred to as " Gujing Gongjiu ") opened lower directly, and the limit was hit during the session, and the limit was not opened until 15 minutes before the closing; the final closing was 230.45 yuan per share, down 9.24% from the previous day, and the market value of a single day evaporated by RMB 12.4 billion, the largest single-day decline in 16 months.

"We released the performance report for the first three quarters last weekend (October 15). It may be different from the expectations outside. Our company's production and operation are normal." On the afternoon of October 17, a staff member of the Secretary of the Board of Directors of Gujing Gongjiu responded to the Economic Observer Network that the stock price fell sharply today.

Net profit in the first three quarters was 2.6 billion yuan, an increase of 33% year-on-year

Gujing Gongjiu was the stock with the largest decline in the stock price in the liquor sector on October 17.

In the liquor sector, Gujing Gongjiu ranks 6th with a market value of 121.8 billion.

htmlOn October 15, Gujing Gongjiu disclosed the company's performance report for the first three quarters of 2022. In the first three quarters of

, its total operating income was 12.765 billion yuan, an increase of 26.35% over the same period last year; its net profit attributable to shareholders of listed companies was 2.623 billion yuan, an increase of 33.20% over the same period last year; its net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 2.578 billion yuan, an increase of 35.57% over the same period last year.

's performance is not low in the liquor industry. Gujing Gongjiu achieved double-digit growth in the first three quarters, but the stock price still fell sharply after the third quarter results were announced.

In the past six months, Gujing Gongjiu's stock price has increased strikingly.

Gujing Gongjiu's stock price rose from 158.37 yuan on April 12 to 278.73 yuan on September 30, an increase of more than 70%.

Some investors told Gujing Gongjiu through the Shenzhen Stock Exchange Interactive Easy Platform, "As an investor of the company, I am very satisfied with the company's achievements in recent years. But I hope the company can be prepared for danger in times of peace. The epidemic will always pass. I hope the company can use the huge profits it has made now to invest and acquire some good projects."

Gujing Gongjiu has not yet responded to investors' suggestions.

From the historical announcement, it can be seen that this lucrative liquor company has not made bold and radical foreign investment.

As of September 10, the company's idle funds raised reached 2.65 billion yuan, and Gujing Gongjiu purchased all of them to make sure that they have secured floating income and secured fixed interest rate financial products from major banks.

In the third quarter, the revenue and profit growth rate of Gujing Gongjiu even exceeded that of the "league" Kweichow Moutai . The third quarter report of Kweichow Moutai showed that its operating income was 29.5 billion yuan, and increased by 15.61% year-on-year; net profit was 14.6 billion yuan, an increase of 15.81 year-on-year. Gujing Gongjiu's operating income in the third quarter was 3.76 billion yuan, a year-on-year increase of 21.58%; net profit was 700 million yuan, a year-on-year increase of 19.27%.

institution is shipping?

Gujing Gongjiu has always been a hot commodity for institutional investors and retail investors with its high growth and stability in performance.

's attractiveness to retail investors, and even the families of independent directors have participated.

Gujing Gongjiu issued an "Announcement on Short-term Trading and Apology for Relatives of Independent Directors" on February 29, 2022, saying that an independent director of the company issued a "Statement of the Situation and Apology Letter on the Selling of Relatives of His Relatives Constituting Short-term Trading". His spouse bought and sold 30,700 shares and made a profit of 200,000 yuan within two trading days on February 9 and February 10, and handed over all of them to the company, promising to prevent such incidents from happening again.

semi-annual report shows that among the top ten circulating shareholders of Gujing Gongjiu, domestic and foreign institutions represented by China Merchants CSI Liquor Index Graded Securities Investment Fund, Hillhouse Capital (GAOLING FUND, L.P.), and UBS China Opportunity (UBS (LUX) EQUITY FUND-CHINA OPPORTUNITY (USD)), occupy 8 seats, and the remaining two shareholders are Gujing Gongjiu Group and Hong Kong Central Clearing Co., Ltd.

public information shows that 25 million institutions participating in the private placement hold shares, and the ban on sale was lifted on January 22, 2022.This list of institutions is: JPMorgan Chase Bank, National Association 750,000 shares, Guotai Junan 1.125 million shares, E Fund 12.75 million shares, Caitong Fund 1.13 million shares, Taiping Fund 750,000 shares, Fuguo Fund 1.275 million shares, Huatai Securities 775,000 shares, Huatai Securities (Shanghai) Asset Management Co., Ltd. 750,000 shares, ICBC Credit Suisse Fund 2.15 million shares, Morgan Stanley Co. InternationalPlc 750,000 shares, China Life Asset Management Co., Ltd. .75 million shares, China Merchants Fund 2 million shares, Huitianfu Fund 45,000 shares.

In July 2021, the price of Gujing Gongjiu’s private placement of shares was 200 yuan per share, the number of shares was issued was 25 million shares, and the total amount of funds raised was 5 billion yuan.

According to the current share price of Gujing Gongjiu of 230 yuan, if the above-mentioned institutions participating in the private placement are not sold, there will still be a 15% surplus on the books.

html html Dragon Tiger List data on on October 17 showed that Gujing Gongjiu did suffer institutional share reductions. The first seat of the seller was Shenzhen Stock Connect sold 107 million yuan and bought 54.56 million yuan. The second to fifth places sold the largest amount were all dedicated seats for institutions, and the top five institutions sold a total of 190 million yuan.

Some investors analyzed: "The fund is in a group, and there are differences at the high level, and some people retreat!"

China Food industry analyst Zhu Danpeng once wrote an article in August that Gujing Gongjiu's revenue and net profit double growth is based on the Spring Festival dividend in the first quarter. From a medium- and long-term strategic perspective, although Gujing Gongjiu's revenue and net profit have increased, since the regionality and market size have reached the ceiling, Gujing Gongjiu does not have the core competitiveness of sustainable development.

htmlOn October 17, while the institution sold hundreds of millions of yuan of Gujing Gongjiu, some institutions also entered the market.

On the same day, the top three stocks in the institution's net purchase of were N Changyinzhuan, Shenglu Communication , and Gujing Gongjiu, with net purchase amounts of 535 million yuan, 78.14 million yuan and 28.81 million yuan respectively.