Guyue Longshan’s first quarter net profit increased by more than 30% year on year

On April 29, Zhejiang Guyue Longshan Shaoxing Liquor Co., Ltd. (hereinafter referred to as “Guyue Longshan”) released the first quarter report of 2021 and the annual report of 2020. According to the report, the company achieved revenue of 501 million yuan in the first quarter of 2021, a year-on-year increase of 37.01%, and net profit of 61.4169 million yuan, a year-on-year increase of 32.4%. In 2020, it will achieve revenue of 1.3 billion yuan, a year-on-year decrease of 26.06%, net profit of 28.22%, and non net profit of 119 million yuan, a year-on-year decrease of 33.72%.

As for the decline of performance in 2020, Gu yuelongshan said that due to the overall consumption situation and the impact of the epidemic, the stagnation of the terminal consumer market and the lack of consumption scenarios led to the decline of the company’s performance.

Beijing business daily learned from Guyue Longshan’s 2020 annual report that in 2020, Guyue Longshan’s liquor business achieved a revenue of 1.264 billion yuan, a year-on-year decrease of 26.95%, accounting for 98.86% of its main business revenue. Other businesses achieved revenue of 14.5615 million yuan, a year-on-year increase of 53.12%. In terms of products, Guyue Longshan’s medium and high-grade liquor achieved a revenue of 860 million yuan, a year-on-year decrease of 28.51%, while ordinary liquor achieved a revenue of 404 million yuan, a year-on-year decrease of 23.38%. The revenue of glass products was 14.5297 million yuan, up 54.45% year on year, and that of other products was 31900 yuan, down 68.98% year on year.

According to the data, although the revenue of Guyue Longshan glass products will grow in 2020, the main source of revenue is still wine business. Guyue Longshan said that the company’s main business income mainly comes from the sales of rice wine. The company has glass bottle production, self use more, a small amount of external sales.

In fact, the decline in product revenue at the same time, in terms of production, Guyue Longshan also declined. According to the announcement, the production of medium and high-grade Guyue Longshan liquor in 2020 will be 64300 kiloliters, a year-on-year decrease of 14.44%, and the production of ordinary liquor will be 164900 kiloliters, a year-on-year decrease of 15.43%.

Industry insiders said that as a regional wine, the national layout of yellow rice wine has not been ideal due to the influence of drinking habits and cultural factors. With the development of e-commerce platform, we will accelerate the promotion of yellow rice wine to the national market. For the leading enterprises of yellow rice wine, we should make full use of the quality advantage and brand effect, and vigorously promote the culture of yellow rice wine.

Beijing Business News (reporter Zhao Fengrui)

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