Kweichow Moutai: North of Guangzhou was out of stock
taimeiti· 2017-05-22 18:51:07
[Caixin] (reporter Li Yan) 2017, Moutai entered the wine price and share price double high channel. In May 22nd, Kweichow Moutai (600519) 2016 annual shareholders meeting, Moutai group general manager Li Baofang said that Moutai is expected in 2017 the company achieved operating income growth of 20% over the last year or so, and this may increase the dividend payout ratio.
Moutai has entered a new period of rise, rise cycle will continue through the "13th Five-Year", in 2020 before the upward trend will not change. "Li Baofang said at the shareholders' meeting, in 2016, Moutai's production and operation played a turnaround, the results are far better than expected, Moutai logo supply and demand relations change, return to the seller's market, and completely change the passive situation.
held a general meeting of shareholders at the same time, popular category Moutai wine has appeared in short supply situation, according to the new financial reporter, has appeared in Beijing, Shanghai stock and Guangdong. May 22nd afternoon, Caixin reporter landed Moutai group's official website, electronic business platform, Moutai cloud providers, 53 degrees flying, Moutai wine and other hot products still show inventory of 0. Prior to this, Moutai cloud business has warned that at 10:00 on May 22, 2017 morning to fill the stock.
"the amount of Moutai is certain, but you can't buy a range of wines if you don't have Moutai.". Moutai Group Chairman Yuan Renguo said at the shareholders meeting, the limited capacity of Moutai liquor is "scarcity of products" in the production of 26 thousand tons, the supply is the minimum amount of 40 thousand tons of wine production base plan can be done, but on the 50 thousand tons of production capacity will greatly increase.
compared with 2016, in 2017, Moutai group 26 thousand tons supply increased by 3000 tons, the market volume increased by 15% year on year. But this figure is below market expectations. China Merchants Securities Research Report shows that in 2017, Moutai base wine controllable sales of 30 thousand and 800 tons, even so, the next three years, Moutai's supply and demand will continue to intensify, leading to Moutai wine prices in 2018-2019 years to reproduce the all-time high.
CRE securities data show that in 2017 Moutai liquor or actual consumption to 29 thousand tons, in 2019 there will be the gap between supply and demand and supply become the norm.
increased supply at the same time, Li Baofang once again stressed Moutai's determination to control prices, the factory price of 819 this year. He said, Moutai group has given dealers a profit margin, pushing prices dealers and investors are few, the price can not be around noise, Moutai group control prices remain unchanged.
from the second half of 2016, Moutai liquor prices continue to rise, the price of Moutai flying wine rose from 800 yuan to 1200 yuan, rose to 1300 yuan in some areas, but Moutai did not increase the actual ex factory price, middlemen stockpile bidding intensified. With the Moutai market prices rising, Moutai stock prices continued to rise, has been approaching 450 yuan / share new high.
in April and May this year, Moutai group has issued a series of tough policies, strictly control dealers, from the "political level" to express the importance and necessity of Moutai prices.
4 month, Moutai group held a dealer meeting, general manager of the company Li Baofang said: "the dealer who made the market chaos who hit jobs, who would not listen to say hello to punish according to the law. "," a fundamental solution to dealers, usually malicious bidding would not give way, not spared, is going to kill two.
4 25, Moutai group named 66 existing e-commerce platform to the private supply, cross regional sales, damage the interests of consumers and the brand image of Moutai, disrupt the market order illegal dealers, including deduction given the entire contract deposit, Zodiac wine chicken year Zodiac wine contract lifted in 2017 severely punished.
5 17, Moutai marketing company and then rectify the breach of responsibility of the 15 dealers in Chongqing, to deduct 30% contract amount, suspended Moutai business, deduct 10% performance bond and other penalties.
a number of industry insiders told Caixin reporter, Moutai can not suppress the market price, mainly because of too dispersed dealer structure. According to official information, as of the first quarter of 2017, the domestic dealers increased by 81, a total of 2412; foreign dealers increased by 9, a total of 94. More than 2500 distributors formed channels, tributaries, Moutai group difficult to control.
holdings of Moutai for many years not very Thai fund manager Dong Baozhen told reporters that the new wealth, need to change the channel model of Moutai dealers, "after three years in the trough, now see the market prices, there is big money speculation, irrational demand is difficult to curb hoarding. "
", Moutai has suffered from high-level government questioning, the nineteen big upcoming, Moutai prices jumped, a lot of social associations, corruption is not coming back? "A person close to Moutai group's liquor industry insiders told Caixin reporter, from the enterprise itself, rapid price increases will exacerbate the market speculation, so that Moutai wine prices faced market risk.
from the external environment, political environment and Chinese has always been closely related to Moutai with "social attribute" can not be ignored, the rapid rise has let Moutai into a negative opinion of the vortex, there is a risk management department concerned.
Guizhou Moutai released 2016 annual report shows that operating income of 36 billion 662 million yuan, an increase of 18.99%; net profit of 16 billion 718 million yuan, an increase of 7.84%. -
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