Laobaigan liquor’s revenue and net profit fall in 2020

Beijing business daily (reporter Zhao Dan) on the evening of April 28, Hebei Hengshui Laobaigan Liquor Co., Ltd. released its 2020 annual report (hereinafter referred to as “Laobaigan liquor”). According to the report data, Laobaigan liquor will achieve a total revenue of 3.598 billion yuan in 2020, a year-on-year decrease of 10.73%; The net profit attributable to the shareholders of the listed company was 313 million yuan, a year-on-year decrease of 22.68%.

For the decline in performance in 2020, Lao Baijiu liquor in the report pointed out that the main reason is that the reporting period was affected by COVID-19, the restaurant and the gathering were cancelled, and the liquor sales terminal was blocked. In addition, the performance of Anhui Wenwang has not reached expectations in recent years. Through the goodwill impairment evaluation test of Anhui Wenwang asset group, the goodwill impairment is 24.2642 million yuan.

According to the report, the revenue of Wuling series liquor of Laobaigan liquor will reach 452 million yuan in 2020, with a year-on-year growth of 28.19%. However, the revenue of Hengshui Laobaigan series, Bancheng Shaoguo series, wenwanggong series and kongfujia series decreased, with revenue of 2.012 billion yuan, 505 million yuan, 297 million yuan and 148 million yuan respectively, with a year-on-year decrease of 9.14%, 27.60%, 11.24% and 8.55% respectively.

For the development in 2021, Laobaigan liquor pointed out in the report that it plans to achieve the main business income of 3.957 billion yuan, the operating cost is controlled within 1.396 billion yuan, the expense is not more than 1.419 billion yuan, the total operating cost is controlled within 3.446 billion yuan, and the main business tax and surcharges are 631 million yuan.

In addition, on the evening of April 28, Laobaigan liquor released its first quarterly report of 2021. According to the report, Laobaigan liquor achieved an operating revenue of 754 million yuan in the first quarter of 2021, a year-on-year decrease of 0.26%, and realized a net profit of 561.452 billion yuan attributable to shareholders of the listed company, a year-on-year decrease of 14.59%.

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