After ① announced the expansion of the bottled beverage track, the record of the new bottled products has attracted the attention of investors; ② from the three quarterly data, the new bottled products have been on the market for some time, but the performance contribution is not obvious; the person in charge of ③ said that the performance of the new products is basically in line with expectations, but the market environment is indeed relatively weak.
Financial Associated Press, October 19 (Reporter Luo Qichen)After announcing that the new team is committed to expanding the bottled beverage track, the success of 603711.SH bottled products has been closely watched by investors. From the three quarterly reports released this evening, although new products have been put into the market for some time, but the company's performance has not been clearly reflected, Q3 revenue growth has slowed down.
On the evening of October 19, Xiang Piaopiao revealed the third quarterly report of 2023. According to the announcement, the company's operating income in the first three quarters was 1.979 billion yuan, an increase of 29.31 percent over the same period last year. Its net profit was 3.4839 million yuan, compared with a loss in the same period last year.
Among them, Q3 is the peak season of traditional drinks, and it is also the key window period for the outside world to observe the effect of its new products. From the perspective of performance, the revenue per quarter was 808 million yuan, up 20.41% from the same period last year, and the net profit was 47.5265 million, down 12.29% from the same period last year. This performance does not exceed the historical data, in other words, the effect of new bottled products on performance has not yet been shown.
For the performance of the new product market, the relevant person in charge of the company said in an interview that it was basically in line with expectations, but also admitted that the market environment was indeed relatively weak.
A reporter from the Financial Associated Press learned from Sandalwood, an e-commerce data monitoring platform, that online beverage sales were weak in the first three quarters of this year, the overall turnover did not increase significantly compared with the same period last year, and the year-on-year growth rate decreased quarter by quarter, with Q3 growing only 0.7 per cent in the peak season. According to the statistics bureau, the total retail sales of beverage products from January to September was 222.7 billion yuan, an increase of only 2% over the same period last year, lagging behind among major consumer goods.
The overall weakness of the beverage market has undoubtedly increased the difficulty of changing new products into explosive products. Combined with three quarterly reports and major operating data, Xiang Piaopiao has increased related expenses for the promotion of new products.
In the first three quarters, the company's sales expenses were 575 million yuan, an increase of 46.59% over the same period last year, of which Q3 sales expenses were 209 million yuan, an increase of more than 100% over the same period last year. Corresponding to the expenditure on sales expenses, the promotion of new products has also brought about changes on the channel end. During the reporting period, the company significantly strengthened the recruitment of dealers in the East China market. During the reporting period, the number of dealers in East China increased by more than 100, an increase of more than 23%, and the number of dealers in other regions was relatively stable.