On June 5, Guotai Junan released a research report stating that Shanxi Xinghuacun Fen Wine Factory (stock code 600809.SH) will continue to strengthen its waist product layout in 2024, and continue to promote cost reforms during the period. The company's product line advantages and organizational efficiency continue to improve, and it is expected to continue to increase its market share at the bottom of the industry cycle, with both growth and certainty. The rating is "shareholding" and the target price is 325.5 yuan. From the beginning of 2024 to the present, the sales growth rate of Fen Wine Old White Fen series is relatively leading in the Fen Wine series, mainly because the company's brand tension drives the consumption trend of the old white fen series. In 2024Q2, the company increased the promotion efforts of the old white fen series by changing the packaging and raising prices, indicating that the weight of the old white fen series in the marketing system continues to increase. It is expected that the increase in production of the old white fen series will help to alleviate production capacity pressure and achieve product structure stability, and strengthen the vertical advantages of Fen Wine product line.
研报掘金丨国泰君安：山西汾酒成长性、确定性兼具，维持“增持”评级
Research reports show that Shanxi Xinghuacun Fen Wine Factory has both growth and certainty, and therefore GTJA maintains their "shareholding" rating.
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