The demand for wine under the epidemic is still weak, the leader Zhang Yu A increased the income in the first half of the year and did not increase the profit

Affected by multiple factors, in the competition with liquor and beer, the domestic wine market obviously has not yet recovered.

On August 26, Zhang Yu A (SZ000869, the stock price was 20.86 yuan, and the market value of 20.45 billion yuan) disclosed that the 2022 semi -annual report showed that in the first half of 2022, the company realized revenue of 1.953 billion yuan, an increase of 4.19%year -on -year, and the net profit of the mother was 3.58.58 3.58 100 million yuan, a year -on -year decrease of 3.59%.

Zhang Yu A half -annual report main financial data picture Source: Zhang Yu A half -annual report

When explaining the performance, Zhang Yu A mentioned that during the reporting period, due to various factors such as the new crown epidemic, domestic wine demand was still weak, market competition was fierce, and marketing activities were severely restricted.

Domestic wine production has dropped for 9 years in a row

In 2021, Zhang Yu A is the largest number of domestic companies listed or listed in wine companies. It is the only company of 14 companies with a revenue of nearly 4 billion yuan. The wine revenue of 13 listed and listed companies was not as good as the volume of Zhang Yu A's company.

From this perspective, Zhang Yu, the industry's leader, has basically reflected the dilemma facing the current domestic wine industry.

Another wine listed company China -Portuguese (SH600084, a stock price of 7.09 yuan, and a market value of 7.94 billion yuan) also announced its first half of its performance on August 26. The report period, the company achieved total operating income of 96.1945 million yuan, a decrease from the previous year from the previous year. 17.91%; net profit attributable to shareholders of listed companies was 286,900 yuan, a decrease of 97.45%from the previous year.

Regarding the reason, China -Portuguese shares mentioned that in the first half of 2022, the new crown epidemic from all over the country broke out. The domestic wine production and sales of wines continued to decline, and the industry's operating efficiency also declined, which caused a great impact on the gathering market.

According to data from the National Bureau of Statistics, the production of Chinese wine in the first half of 2022 decreased from 136,000 liters in the same period last year to 97,000 liters, a year -on -year decrease of 39,000 liters, a year -on -year decrease of 28.68%.

This also continues the decline of the wine industry in recent years. "2021 has been the 9th consecutive year of domestic wine production." As one of the few National People's Congress representatives of the Chinese wine industry, Zhou Hongjiang, chairman of Zhang Yu A, pointed out at the National Two Conferences in 2022 that companies above the size of wine have fallen into a large area. Operating loss, industry operation benefits have continued to decline.

Still optimistic about the overall rise in the wine market

Haitong Securities said in recent research reports that it has the influence of disadvantaged factors, and the industry has been sluggish in recent years. The global proportion of Chinese wine production and consumption in 2021 was 2%and 4%, respectively. Compared with Western countries, the market size is still smaller.

As for the reason, in addition to consumer concepts, the impact of imported wine on the domestic market has greatly squeezed the domestic wine market share.

According to statistics from the China Wine Industry Association, the output of wine companies above designated size in 2015 was 1.161 million liters, and imports of imports were 555,300 liters. In 2020, the output of the two sides was 413,300 liters and 430,200 liters, and imported wines surpassed the domestic output. The market share of imported wines in the Chinese market was only 32%in 2015, and it was more than half in 2020.

According to data from the International Grape and Wine Association, since 2017, Chinese wine consumption has continued to decline, and Chinese wine consumption in 2021 was 1.05 billion liters, a decrease of 45.3%from 2016. In 2021, the revenue of wine enterprises above the benchmark was 9.03 billion yuan, a decrease of 81.4%from 2016.

However, Haitong Securities mentioned that the decline in demand for the wine market has accelerated the clearing of some small and medium -sized enterprises. Since 2019, the decline in revenue has gradually narrowed, and the market size has stabilized.

Today, the impact of imported wines is still continuing, but this does not mean that domestic wines have no chance.

Zhang Yu A mentioned in the semi -annual report that the wine industry where the company is located is still growing. Although in the short term, due to various factors, the market competition is fierce, and the demand for the wine market is still weak, from the long run, the domestic wine market is generally in the overall wine market is in the long run, and the domestic wine market is generally in the overall wine market. Upward trend.

(Picture source: Every reporter Zhang Jian)

Daily Economic News

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