crashnburnps2| Revenue mainly depends on price increases? In 2023, the price per ton of medium and high-end liquor in Luzhou Laojiao will increase significantly, and sales will only increase by 1.24% year-on-year.

Special topicCrashnburnps2Luzhou laojiao publishes 2023 annual report

Luzhou laojiao released its 2023 annual report on April 27. According to the annual report, the company realized operating income of about 302.Crashnburnps2.33 billion yuan, an increase of 20.34% over the same period last year; and net profit of about 13.246 billion yuan, an increase of 27.79% over the same period last year. Thanks to the bright performance, Luzhou laojiao simultaneously announced a dividend plan, proposed 10 payouts of 54 yuan.

In terms of products, Luzhou laojiao is divided into two categories: medium-and high-grade wine and other alcohols. the former is a product with a tax sales price of ≥ 150 yuan per bottle, and the representative brands are Guojiao 1573, Luzhou laojiao Tequ, century-old Luzhou laojiao wine and so on. The latter is a product with a tax sales price of less than 150 yuan per bottle, representing brands such as Luzhou laojiao Touqu and Luzhou laojiao black cover.

During the reporting period, the output of medium and high-grade liquor in Luzhou laojiao was 31300 tons, down 23.4% from the same period last year. Sales volume was 37600 tons, an increase of 1.24% over the same period last year. Inventories fell 14.7% year-on-year.

The output of other alcoholic beverages was 52700 tons, 11.9% of the same period last year. Sales volume was 58700 tons, 19.6% higher than the same period last year. Inventory dropped 51.2% from the same period last year. Luzhou laojiao explained that it was mainly due to the increase in sales of other alcoholic beverages in this period.

Luzhou laojiao said that as the consumer market gradually returns to normal in 2023, the liquor industry presents a trend of consumption upgrading and demotion, intensified differentiation and more fierce competition, capacity optimization, quality upgrading, scientific and technological innovation and cultural guidance. The improvement of consumer experience and service has become the characteristics of the era of high-quality development of the liquor industry. The development trend of concentrating to well-known producing areas, famous brands, excellent culture and good quality is becoming more and more obvious. The liquor industry has gradually entered the era of stock competition and giant competition. Only enterprises that can create good products and services for consumers, good governance structure and social value can stand out.

According to the revenue data, the revenue of medium-and high-grade liquor was 36.841 billion yuan, an increase of 21.28% over the same period last year, accounting for 88.78% of the total revenue. The revenue of other alcoholic drinks was 3.236 billion yuan, up 22.87% from the same period last year, accounting for 10.70% of the total revenue. The proportion of the two is basically the same as last year.

From the combination of production and sales data, Luzhou laojiao medium and high-grade wine sales growth faces certain challenges. The company's mid-and high-grade wine ton price is 714200 yuan in 2023 and 596200 yuan in 2022, compared with a significant increase of 19.79%, but the sales volume only increased by 1.24% compared with the same period last year.