On April 18, Jiangsu Jinshiyuan Liquor Co., Ltd. (hereinafter referred to as “Jinshiyuan”) released its annual report for 2020, saying that in 2020, the company achieved revenue of 5.119 billion yuan, a year-on-year increase of 5.12%, net profit of 1.567 billion yuan, a year-on-year increase of 7.46%, and cash flow from operating activities of 1.119 billion yuan, a year-on-year decrease of 14.43%. Jinshiyuan said in the announcement that in the next five years (2021-2025), the company will take “developing high quality, making new leaps in Jiuyuan” as the theme, take “seeking speed in good times” as the working keynote, take reform and innovation as the fundamental driving force, deepen marketing and management reform, and adhere to and improve corporate governance.
Jinshiyuan had previously said publicly that the company will strive to achieve a revenue of more than 10 billion yuan (strive for 15 billion yuan) by 2025. The revenue target in 2021 is about 5.9 billion yuan, striving for 6.6 billion yuan. Jinshiyuan told Beijing Business Daily that the company’s stock of raw liquor is about 90000 tons. The existing brewing capacity is 27000 tons, and the company plans to build 38000 tons of new capacity in the next five years. It is estimated that the utilization rate of production capacity will reach 95% in the next five years.
China’s food industry analyst Zhu Dan Peng said that although the revenue of high-end products of this country is high, it is hard to support billions of targets by squeezing famous Baijiu liquor. At the same time, the growth space, expansion space and development space of provincial leading enterprises have been seriously limited. Considering all the factors, it’s hard to achieve a revenue of more than 100 yuan.
Through the annual report of Jinshiyuan, the reporter of Beijing business daily noted that the growth of Jinshiyuan’s performance in 2020 was mainly due to the growth of revenue of special a + products. Specifically, the revenue of a + products was 3.069 billion yuan, a year-on-year increase of 13%, that of a-products was 1.503 billion yuan, a year-on-year decrease of 1.66%, that of a-products was 254 million yuan, a year-on-year decrease of 19.26%, that of b-products was 159 million yuan, a year-on-year decrease of 5.24%, that of C-products was 92.6546 million yuan, a year-on-year decrease of 8.58%, and that of d-products was 7.0875 million yuan, a year-on-year decrease of 25.04% . Through the data, it is not difficult to find that except for special a + products, the revenue of other products has declined.
Beijing Business News (reporter Zhao Fengrui)
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