公司今日晚间发布公告，对公司部分重点黄酒产品的销售价格进行上调：彩包花雕（加饭）系列产品提价幅度为2%-5%，清醇三年系列产品提价幅度为4%-8%，部分坛酒系列产品提价幅度为8%-9%，部分五年陈系列产品提价幅度为5%-12%，部分青花醉产品提价幅度为2%-5%，女儿红桶装酒系列产品提价幅度为3%-5%，女儿红老酒系列产品提价幅度为2%—5%。① Zhejiang Guyuelongshan Shaoxing Wine and Kuaijishan Shaoxing Rice Wine recently announced product price increases, which include multiple product lines; ② Chairman Sun Aibao of the company told reporters from the Financial Association that this is a minor price adjustment aimed at realizing the value return of Huangjiu(Chinese Liquor).
The Financial Association reported on April 1 (Reporter Chen Kang) that following Kuaijishan's announcement of a product price increase last evening, industry leader Zhejiang Guyuelongshan Shaoxing Wine also announced an increase in sales prices for several key products this evening, with price increases reaching as high as 12%.
This evening, Zhejiang Guyuelongshan Shaoxing Wine Chairman Sun Aibao stated to reporters from the Financial Association that the price increase is based on the continuous improvement of Huangjiu(Chinese Liquor) quality, "The raw materials for Huangjiu(Chinese Liquor) are becoming increasingly superior, the craftsmanship more refined, the recipes more scientific, and the flavors richer, to reflect the value of high quality we have adjusted prices accordingly. Considering consumer acceptance, this price increase is minor, and the ultimate goal is still to gradually realize the value of Huangjiu(Chinese Liquor)."
The company announced this evening that it would raise the sales prices of some key Huangjiu(Chinese Liquor) products: the price increase for the colorful packaged Huadiao (jiafan) series products will be between 2%-5%, the price increase for the Qingchun three-year series products will be between 4%-8%, the price increase for some坛酒 product series will be between 8%-9%, the price increase for some five-year aged product series will be between 5%-12%, the price increase for some Qinghua Zui products will be between 2%-5%, and the price increase for the Daughter Red barrel wine series will be between 3%-5%, as well as the Daughter Red old wine series products with a price increase of 2%-5%.
Reporters from the Financial Association noticed that the price adjustments cover seven major series that include both low-end and high-end Huangjiu(Chinese Liquor), with new prices set to take effect on April 22.
Sun Aibao told reporters from the Financial Association that this product price adjustment will have a certain positive effect on the company's Earnings Conference, specifically reflecting in the second quarter's performance. Furthermore, the upcoming Dragon Boat Festival at the end of May is one of the peak sales seasons for Huangjiu(Chinese Liquor) throughout the year.
The Earnings Reports indicate that in 2024, the company achieved revenue of 1.936 billion yuan and a Net income of 0.206 billion yuan attributable to shareholders of the listed company; in terms of costs, the cost of goods sold for mid-to-high-end liquor and regular liquor has both risen year-on-year, leading to profit dilution.
Regarding the Operation plan for 2025, Zhejiang Guyuelongshan Shaoxing Wine stated that based on the current development status of the Industry and the actual Operation situation of the company, it aims for wine sales revenue to grow by over 6% and profit growth of 3%. In terms of project construction, it will accelerate the advancement of the first phase of the Huangjiu(Chinese Liquor) industry park to achieve full production and efficiency; complete the main construction of the production research and development service center project and build photovoltaic power generation facilities in the park and central liquor storage; it plans for intelligent brewing and bottled wine filling capacity to exceed 0.12 million tons, increasing production efficiency by over 30%. Meanwhile, the company will aim with a focus on the Global market, planning to open more than 10 tasting halls and recruit over 100 dealers.
Before Zhejiang Guyuelongshan Shaoxing Wine announced a price increase for its products, Kuaijishan Shaoxing Rice Wine was the first to announce a price increase last night, citing the rise in labor and corporate operational costs as the reason.
The Huangjiu(Chinese Liquor) offered by Kuaijishan this time includes both mid-to-low-end and high-end price ranges. Specifically, the price increase for the Pure Series Huangjiu products is 4%-5%, the price increase for the Three-Year Aged Series Huangjiu products is 6%-9%, and the price increase for the Jar-clad Series and Huadiao Series Huangjiu products is 1%-9%. The new prices will take effect from April 1, 2025. Kuaijishan stated that this adjustment pertains to the ex-factory price, and whether the terminal prices will change will be up to the Dealers to decide based on market sales conditions.
It is noteworthy that this is the price increase of the two major Huangjiu companies after many years, with the last price increase announcement from Kuaijishan being in December 2016. The last price increase announcement from Zhejiang Guyuelongshan Shaoxing Wine was in 2023, when the company stated it decided to adjust the prices of some ordinary products aged five years and below, with only a 2%-5% increase. Prior to that, in May 2019 and early 2018, Zhejiang Guyuelongshan also announced price increases for some products.
