Luzhou Laojiao’s first quarter net profit increased by 26.92% year on year



On April 29, Luzhou Laojiao Co., Ltd. (hereinafter referred to as “Luzhou Laojiao”) released the first quarter report of 2021 and the annual report of 2020, saying that the company realized revenue of 5.004 billion yuan in the first quarter of 2021, a year-on-year increase of 40.85%, and realized net profit of 2.167 billion yuan, a year-on-year increase of 26.92%. In 2020, it will achieve a revenue of 16.653 billion yuan, a year-on-year increase of 5.28%, and a net profit of 6.006 billion yuan, a year-on-year increase of 29.38%. From the data point of view, Luzhou Laojiao continued the growth momentum of last year in the first quarter of this year, with double growth in net income.

Luzhou Laojiao said in the announcement that the growth of the company’s performance in 2020 is due to the company’s clear positioning of products and expansion of market scale.

According to the announcement, in 2020, Luzhou Laojiao’s liquor products achieved a revenue of 16.448 billion yuan, a year-on-year increase of 5.33%, accounting for 98.77% of the total revenue, and other revenue of 205 million yuan, a year-on-year increase of 1.83%. In terms of products, the revenue of medium and high-end liquor products was 14.237 billion yuan, up 15.33% year on year, while that of other liquor products was 2.211 billion yuan, down 32.41% year on year. According to the data, the main source of Luzhou Laojiao’s performance is liquor products. The growth of performance is due to the growth of revenue of medium and high-end liquor products.

For the development in 2021, Luzhou Laojiao said in the announcement that the company will closely focus on the development theme of “fine management to increase efficiency and precision marketing to expand the market”, and strive to achieve a year-on-year growth of operating revenue of no less than 15%.

Beijing Business News (reporter Zhao Fengrui)

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