On November 20, Guyue Longshan (600059, SH), Kuaijishan (601579, SH) and Jinfeng wine (600616, SH) harvested two plates.
Today (23rd), the above three rice wine stocks continued to rise. As of 10:42, Guyue Longshan rose 3.78%, and its stock price was 12.63 yuan, with a total market value of 10.212 billion yuan. Kuaijishan rose 6.25%, with a stock price of 12.21 yuan and a total market value of 6.073 billion yuan. Jinfeng liquor industry was up again, the third limit in the near future, with a stock price of 7.49 yuan and a total market value of 5.011 billion yuan.
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Whether there are favorable factors to stimulate the continuous strength of rice wine plate?
Liquor profits flow to valuation depression
After A-share liquor plate soared, rice wine three swordsmen ushered in the market hot.
The recent stock price trend is also relatively sudden, there is really no significant good news for the industry, said Liu Qichao, the certificate representative of Jinfeng liquor industry. It may be related to the whole liquor sector. The trend of liquor is relatively strong, and the rice wine is relatively stable, so it will move.
In the first three quarters of 2020, the performance reports of the three listed rice wine companies reflect that both revenue and net profit have declined. Zhu danpeng, an analyst of Chinas food industry, told the daily economic news (micro signal: nbdnews) that the biggest pain point of the whole yellow rice wine industry is the low overall profit margin, so it is not likely to be pursued by capital. In addition, the consumption of rice wine is concentrated in Jiangsu, Zhejiang and Shanghai, and the consumption scenario is relatively single, resulting in the small market volume of rice wine in the whole wine category and relatively in the valuation The disadvantage position of.
On the issue of low profit of rice wine, which is generally believed by the industry, Wu Xiaojun said: this is right. Judging from the current market behavior, it is still considered that rice wine is of low value, unlike liquor, which has high added value. This is related to the cultivation of rice wine market in the past. In fact, we also have good wine, but the market does not accept it. We are trying to change this consumption habit, which will take time.
Liu Chang analyzed to the daily economic news reporter that the regional characteristics of yellow rice wine are obvious, which leads to the limited consumption population and no long-term development logic and space. This is the place where investors are more worried. At the same time, the enterprise value of rice wine itself is difficult to improve, so the valuation has been suppressed all year round.
What is the value of rice wine?
Jin Xuequan, a member of the board of directors of Kuaiji mountain, said that for enterprises, it is still practical to do the industry. Only by doing a good job in the value of products can the enterprise value be promoted and finally reflected in the market value. Therefore, what the rice wine industry is considering now is how to optimize the product structure, enhance the market share, sell rice wine products better, and strive to realize the return of product value.
The daily economic news reporter learned that many leading enterprises of rice wine, including Guyue Longshan, Kuaijishan and tapai, are launching high-end rice wine products to enhance consumers overall understanding of the industry.
Wu Xiaojun, the Secretary of the board of directors of Guyue Longshan, said: we also took the good wine from the central liquor store to the consumers, and launched the no top yellow rice wine with a price of 300 yuan and the national liquor making industry of 1959 yuan. It depends on whether (the market) can accept it. The yellow rice wine industry is a very decentralized market. Compared with the full competition of liquor, the yellow rice wine industry tends to fight on its own and has no obvious joint force. Although the long-term attitude of the rice wine industry must be to change peoples consumption habits, it is hard to say when such a general recognition can be achieved. We hope to shorten the time as far as possible, because a lot of cost and time investment are needed in the early stage.
Since the implementation of Pan rice wine strategy, the product structure of Jinfeng liquor industry has shown more diversified characteristics. Liu Qichao, the certificate agent of Jinfeng liquor industry, told reporters that the first strategic new product of non yellow rice wine has been officially put on the market. The price of the rice wine is 199 yuan, which has been sold in some restaurants. The company will continue to improve the distribution rate of high-end catering and high-end wine shop, and reshape the companys product image.
(this article is for reference only and does not constitute an investment proposal. Therefore, the operation risk shall be borne by yourself.)