moutai chairman zhang deqin: we will ensure that the growth target is achieved, and the dealer policy will not change for the time being, responding to the decline in gross profit margin
2024-09-10
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according to red star capital bureau on september 10, kweichow moutai (600519.sh) held a 2024 semi-annual performance briefing on september 9. in response to the question of "whether this year's total operating income can achieve a 15% growth", chairman zhang deqin said that the growth target will be achieved as scheduled. the growth rate for next year will be disclosed in a timely manner after the decision is made.
the red star capital bureau noted that according to moutai’s semi-annual report, the total operating revenue in the first half of the year was 83.451 billion yuan, a year-on-year increase of 17.56%; the net profit attributable to the parent was 41.696 billion yuan, a year-on-year increase of 15.88%.
in response to investors' questions about the reasons for the decline in kweichow moutai's gross profit margin, zhang deqin said that in the first half of 2024, moutai's gross profit margin increased by 0.04% year-on-year, and the gross profit margin of series wines increased by 0.75% year-on-year. series wines accounted for 16.09% of wine revenue, an increase of 1.56 percentage points from the same period last year. the increase in the proportion of series wine revenue has lowered the overall gross profit margin of wine products.
regarding whether the number of distributors will be reduced in the future, zhang deqin said that the sales policy of moutai's distribution channels has not been adjusted yet, and there is no change in the policy for moutai distributors. currently, wholesale channels include social distribution, e-commerce, supermarkets, etc., and direct sales channels include self-operated companies, imoutai, etc. kweichow moutai has not added any distributors, and the 18 added ones are all series wine distributors.
in response to the problem that "fake moutai is rampant in the market and consumers are complaining", zhang deqin said: "the company communicates and cooperates with various competent departments and relevant professional institutions in the industry, using human, material and technical defense measures to promote the iterative upgrade of moutai's anti-counterfeiting measures, so as to systematically improve intellectual property protection and market anti-counterfeiting and rights protection capabilities."
regarding the rate of return of the funds established last year, jiang yan, deputy general manager, financial director and secretary of the board of directors of kweichow moutai, said that the two funds have actually received 4.408 billion yuan in funds and are still in the investment period. currently, three projects have been invested, with taihe weiye investing 30 million yuan, silang technology investing 150 million yuan, and lanxi zhide investing 50 million yuan, with a total investment amount of 230 million yuan, and the overall operation is progressing as scheduled.
red star news reporter cheng luyang
editor: xiao shiqing
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