Original title: Three key words to see Kweichow Moutai shareholders meeting
[Three key words to look at the Kweichow Moutai Shareholders’ Meeting]On June 9, the much-anticipated Kweichow Moutai Annual Shareholders’ Meeting 2020 was held at the Moutai International Hotel. At the current general meeting of shareholders, the management of Kweichow Moutai made a collective appearance to have in-depth exchanges with shareholders. It is worth mentioning that at the meeting, Moutai announced that based on the total share capital of 1,256,197,800 shares at the end of 2020, a cash dividend of RMB 192.93 (tax included) will be distributed to all shareholders of the company for every 10 shares of the company. recording. (Oriental Net)
On June 9th, much attentionKweichow Moutai2020shareholderConference at Moutai Internationalbig hotelConvened.currentGeneral meeting of shareholders，Kweichow MoutaiThe management made a collective appearance and had in-depth exchanges with shareholders. It is worth mentioning that at the meeting, Moutai announced that based on the total share capital of 1,256,197,800 shares at the end of 2020, a cash dividend of RMB 192.93 (tax included) will be distributed to all shareholders of the company for every 10 shares.DividendsA total of 24.236 billion yuan, once again set a record for Maotai’s dividend distribution over the years.
From the perspective of the entire conference, Moutai continues to release positive signals of steady progress to shareholders. In the face of new situations and new requirements, Moutai’s next work will focus on the following key words.
At the meeting, Moutai once againPerformanceThe performance is summarized: In 2020, Moutai will complete the production of 75,200 tons of Moutai and series of wine-based liquors, a year-on-year increase of 0.15%; realize total operating income of 97.993 billion yuan, a year-on-year increase of 10.29%; realize the ownership of the parent company’s ownersNet profit46.697 billion yuan, an increase of 13.33% year-on-year; in the face of adversity, the annual main targets and tasks were exceeded.
Next, Maotai sorted out its main tasks in 2021. Judging from the information of Moutai’s 2021 business goals, work plans, production and construction, and market operations, maintaining stability is still the main theme.
First of all, Moutai’s revenue target in 2021 is about 10.5%, and the capital construction investment is 6.821 billion yuan, and the construction of 30,000 tons of Maotai series wine and supporting projects is steadily promoted; the production target of Moutai base wine in 2021 is 55,300 tons. With a production capacity of 5,100 tons, the series wine production target is 29,000 tons.
Kweichow MoutaiChairman Gao Weidong pointed out that from the perspective of production and operation in the first quarter, Maotai’s various economic indicators have progressed steadily, and the production quality has been at the best level in the same period in recent years. It can be said that it has successfully achieved a “good start”, laying a foundation for achieving the annual goals and tasks. Lay a solid foundation. At present, the company’s production and operation work is progressing according to the established plan.
Steady growth in performance and orderly expansion of production capacity are the basic guarantee for Moutai to maintain steady development.
In terms of marketing, Moutai proposed that in 2021, it will consolidate and deepen the results of the marketing system reform, strengthen channel construction and control, increase the flatness of the market, and build a new, scientific, standardized, and efficient marketing system. Continue to strengthen dealer management and maintain the normal market order of Moutai.
Guosen SecuritiesAnalystIt is believed that since the change of management of Kweichow Moutai, a series of actions of the company have been relatively positive, including the announcement of the termination of 4 donations totaling about 820 million yuan in February, the investment and construction of wine warehouses and 8 resolutions including the “Smart Moutai” project, and Unboxing sales of FCL Moutai before the Spring Festival and so on. This series of actions shows that the company attaches great importance to the interests of small and medium shareholders, while actively controlling prices to promote open bottle consumption, and the gradual improvement of the corporate governance system. On the performance side, the company still has a lot of room for volume and price improvement, and there is plenty of room for imagination in the high channel price difference. With the gradual increase in the production of base wines, the market control ability is gradually strengthened, the proportion of direct sales channels continues to increase, and non-standard products increase Under the ton price and other actions, the company’s medium and long-term performance growth space is still large.
However, some voices pointed out that currently Moutai is too dependent on Feitian Moutai, a large single product, and the product structure is still being adjusted. Therefore, the future development of the series will have a greater impact on Moutai as a whole, and it is also the key to the long-term stable growth logic. Elements.
Core production area
In recent years, Moutai has paid great attention to the construction of the production area and the highlight of the advantages of the production area. Judging from the information delivered by the 2020 shareholders meeting, most of Moutai’s next series of work will also focus on the key word production area.
First of all, based on the basic production construction of the core production area, Moutai proposed to vigorously consolidate the foundation of the main business, steadily promote the technical transformation of 30,000 tons of Maotai series wine and the construction of supporting projects; build and manage the sorghum planting base for Moutai, and strengthen Moutai. Use wheat procurement management to ensure the supply and quality of raw materials; and start the construction of the “13th Five-Year Plan” wine library in the Chinese regionConstructionAnd other items.
Nowadays, the concept of production area and the expression of production area are becoming hot topics in the liquor industry. Just as Wang Yancai, the principle director of the China Liquor Industry Association, said, production area is a new way of expressing the quality and value of Chinese liquor. The core production area of Chinese Maotai-flavor liquor is precisely the characteristic production area that relies on the unique natural ecology of the Chishui River Basin.
According to statistics, the production capacity of Maotai-flavor liquor in the Chishui River Basin in 2019 was about 470,000 kiloliters, accounting for 85% of the national soy wine production capacity, and achieving revenue of about 124.4 billion yuan, accounting for more than 90% of the national soy wine market. A typical industrial cluster. Moutai, as a “hard-core enterprise” in the construction of core production areas, is also actively exploring and promoting the integration of production areas. It is reported that in 2021 Moutai will continue to invest in protecting the ecological environment of the Chishui River, give full play to Moutai’s leading advantages, and make every effort to promote the creation of a world-class sauce-flavored liquor industry base core area.
At the meeting, Gao Weidong also gave a detailed interpretation on issues such as cash dividends, series wine development, production capacity expansion, product quality control, and the “14th Five-Year Plan” that the shareholders focused on. For example, in response to the production capacity expansion of Moutai, Gao Weidong said that according to the production capacity plan, the production capacity of Moutai is expected to reach 55,300 tons this year. Moutai is entrusting domestic professional institutions and departments to carry out comprehensive scientific research and demonstration of relevant special contents in combination with the “14th Five-Year Plan”.
As for the development plan of series wines, Gao Weidong pointed out that in the next step, the company will focus on the idea of “making first-class products in the country, building first-class brands in the country, and creating first-class services in the country”, seize opportunities for the development of series wines, and adhere to market and consumer The center is based on adhering to quality, identifying development positioning and brand positioning, optimizing product structure and market layout; digging deep into the core value of the brand, telling the story of Moutai culture, deepening the cultural connotation of the series of wines, and innovating with culture Empower product value; build a well-used sauce-flavored wine cultural experience center, create a platform and position that integrates culture, craftsmanship, and brand communication, do a good job in brand communication and product promotion, and continuously enhance consumers’ value recognition and appreciation of the series of wines Cultural identity; further change the service concept, continue to improve and upgrade service methods, create a high-quality consumer experience, and effectively enhance the market competitiveness of Moutai series.
Throughout the development history of the wine industry, the wine industry has always kept pace with my country’s social and economic development. Standing at a new starting point, not only Moutai, but the entire Chinese liquor market has entered a new stage. The “Guiding Opinions on the Development of China’s Liquor Industry during the Fourteenth Five-Year Plan” clearly put forward the development goals of the liquor industry during the “14th Five-Year Plan” period: It is estimated that by 2025, China’s liquor industry will achieve a total wine output of 66.9 million kiloliters, which is higher than the At the end of the Thirteenth Five-Year Plan, it increased by 23.9%, with an average annual increase of 4.4%; sales revenue reached 1,418 billion yuan, a year-on-year increase of 69.8%, with an average annual increase of 11.2%; realized a profit of 334 billion yuan, a year-on-year increase of 86.4%, with an average annual increase of 13.3%.
As the leader of the liquor industry, Moutai has been given high expectations whether it is external market performance or internal management reform.
It is reported that during the 13th Five-Year Plan period, the gross industrial output value of Moutai,Operating income, Profits and taxes have all doubled compared with the “Twelfth Five-Year Plan”, achieving a successful conclusion; now officially entering the “14th Five-Year Plan” period, Moutai further proposes to use its leading advantages, continue to grow bigger and stronger, and strive to build the company into the first in Guizhou Province. “Fortune 500” companies.
Gao Weidong said at the shareholders meeting that, overall, during the “14th Five-Year Plan” period, Moutai will usher in a period of strategic opportunities in which the domestic economy will continue to improve, the policy environment will continue to be optimized, and the sauce and wine industry will continue to exert “triple benefits”. In this regard, the next main focus of Moutai is to take the excellent traditional Moutai culture as the core and foundation, shape and condense to form a strong spiritual force, continue to consolidate the foundation for development, build guarantees and support, and strive to create quality, green, vitality, and culture. , Sunshine “Five-star Moutai”, escorting the high-quality development of Moutai.
It is not difficult to find that whether it is to promote “two-wheel drive”, emphasize safe production and green production, and control the market, it is Moutai’s efforts at the new starting point of the “14th Five-Year Plan”, and the goal is to achieve high Quality development.
This year, Moutai once again proposed to do its best to improve production quality. Adhere to “quality first, benefit first”, strengthen the “quality as life” concept, and take stricter standards and harder measures to secure every pass in product quality. Based on excellent traditional craftsmanship, vigorously promote the spirit of craftsmanship, strengthen data scientific analysis and precise process management to ensure continuous high-quality and stable production. Industry insiders said that entering the era of high-quality development is an era of balanced development, equal competition, survival of the fittest, and excellence. Moutai, with an output value of nearly 100 billion yuan and a market value of one trillion yuan, is a huge wine industry group. The main business Feitian Moutai and Moutai classic series wines have been made strong enough, but some products in the auxiliary industries still need to be strengthened and need to be worked hard. More energy to manage and build.
Changjiang SecuritiesResearch reportIt was pointed out that due to the “two-wheel drive” strategy, Moutai’s development potential continued to rise. Analysts believe that Moutai remains the leader in liquor and is expected to fully enjoy the expansion dividends of high-end wines, while the adjustment of the series of wines is gradually in place, and it is expected that Moutai will grasp the mouth of sauce wine and achieve accelerated development.
“Overall consideration, during the ’14th Five-Year Plan’ period, we will insist on taking the overall situation with high-quality development, resolutely adhere to the’three lifelines’ of quality, safety and environmental protection, firmly grasp the opportunities of the development of liquor, and enhance the comprehensive strength of the enterprise in an all-round way. “Gao Weidong concluded.
(Article source: Oriental Net)
(Editor in charge: DF318)
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