bigbaccarat| Liu Miao, Luzhou Laojiao: The growth rate of revenue of medium and high-end wines is greater than the growth rate of sales. The main reason is that National Cellar 1573 has grown rapidly.

May 9thBigbaccaratLuzhou laojiao held a 2023 performance presentation meeting. At the meeting, some investors asked that the amount of medium and high-grade alcohol in the company would increase by 1% in 2023.Bigbaccarat.24%, but the revenue increased by 21.3%. Is it mainly due to the substantial increase in revenue brought about by the national cellar? Or did Luzhou laojiao bring it? How is the sales of low and high wines in National Cellar in 2023?

In this regard, Chairman Liu Miao replied that the growth rate of the company's medium-and high-grade wine revenue was higher than that of sales volume, mainly due to the rapid growth of National Cellar 1573, while some of the mid-range products adjusted their business strategy and controlled the supply rhythm due to changes in the market environment. as a result of short-term adjustment; the growth rate of national cellar 1573 high and low income is roughly the same.

Luzhou laojiao released its 2023 annual report on April 27. According to the annual report, the company achieved operating income of about 30.233 billion yuan, an increase of 20.34 percent over the same period last year, and net profit of about 13.246 billion yuan, an increase of 27.79 percent over the same period last year. Thanks to the bright performance, Luzhou laojiao simultaneously announced a dividend plan, proposed 10 payouts of 54 yuan.

Luzhou laojiao proposed that in 2023, the company had successfully achieved the target of "achieving a year-on-year increase in operating income of not less than 15%" set by the board of directors at the beginning of the year. In 2024, the company strives to achieve a year-on-year increase in operating revenue of no less than 15%.

However, Luzhou laojiao suggested that the above "15% target" is formulated by the company in accordance with the 14th five-year strategic plan and combined with its own business capabilities, and does not represent the company's profit forecast for 2024, nor is it a company commitment. Whether it can be achieved depends on many factors, such as changes in market conditions and the efforts of the management team, and there is great uncertainty. Investors are invited to pay special attention to it.