Guizhou Maotai first-half earnings are expected to increase by 20%, why the performance of the liquor industry will produce differentiation?

The performance of the liquor industry is polarized,the main reason is the difference in production capacity, the effect of the brand, the product sales model. China's most profitable liquor companies are Guizhou Maotai, Wuliangye, Yanghe shares, Shanxi Fenjiu, Luzhou Laojiao, Shunxin Agriculture and Gujing Gongjiu. Among them, Guizhou Maotai's revenue and net profit are far more than the second place Wuliangye. And the gap between the third and seventh places is not big. Guizhou Maotai and Wuliangye break is more serious.

Baijiu's production capacity is the most important factor in determining performance. Guizhou Maotai's actual production capacity exceeds 70,000 tons every year, and every year more money will be invested in capacity expansion. Wuliangye's actual production capacity is more than 100,000 tons. Yanghe's actual production capacity exceeds 120,000 tons. The actual production capacity of Shanxi Fenjiu exceeds 140,000 tons. Luzhou Laojiao's actual capacity exceeds 170,000 tons, Shunxin Agriculture's actual capacity exceeds 640,000 tons, and Gujing Gongjiu's actual capacity exceeds 110,000 tons. Here is another important set of data is the capacity of high-end liquor, which Maotai capacity of 40,000 tons, Luzhou Laojiao for 15,000 tons, Fenjiu and Yanghe shares total **** 15,000 tons. So Maotai's high-end liquor has an absolute advantage, and Shunxin agriculture to low-end liquor, through the number of occupy the market.

The effect of the brand. The higher the brand value of liquor naturally will be welcomed by consumers, the natural performance will be very prominent. As China's No. 1 liquor Moutai, a quarter of operating income of more than 27 billion yuan, net profit of nearly 14 billion yuan. Wuliangye's operating income in one quarter exceeded 27.5 billion yuan, with a net profit of 10.8 billion. Yanghe's operating income exceeded 25 billion yuan in one quarter, with a net profit of 13.026 billion yuan. Shanxi Fenjiu's total operating income of 10.53 billion yuan, net profit of 3.710 billion yuan. There is a clear break, China's top three liquor brand effect has been thoroughly established.

Product sales model. Moutai, Wuliangye and Yanghe shares and other liquor have a very complex sales model. In particular, Maotai's starvation marketing model, so that many people's are scrambling for a limited number of Maotai, thus indirectly enhancing the brand value and sales price.