Market Brief

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Author

陳招富先生 (Anthony Chan)
經理

現任職輝立經理,樂意與客戶研究買賣策略。歡迎各位來電交流心得
Phone:
22776655

宜賓五糧液股份有限公司(000858.SZ)

Monday, September 21, 2020 Views3715

公司簡介 :

 

五糧液股份有限公司由四川省宜賓五糧液酒廠獨家發起,採取募集方式設立的股份有限公司。主要從事「五糧液」及其系列白酒的生產和銷售,公司酒類產品包括:五糧春、五糧神、五糧醇、六和液、長三角、兩湖春、現代人、金六福、瀏陽河、老作坊、京酒等。

 

上半年業績勝預期

 

受新冠肺炎疫情影響下,五糧液貫徹落實“三性一度”原則,進一步豐富和完善“1+3”産品體係。501五糧液等高端産品將於年內正式上市;在一系列酒四個全國性戰略大單品中尖莊、五糧醇、五糧特曲等完成新品升級。經過一系列措施,第八代五糧液一批價上挺,價值持續穩健提升。

2020年上半年實現營業收入307.68億元,增長13.32%,凈利潤108.55億元,增長16.28%。當中酒類銷售收入破282億元,毛利率80.27%,同比增長2.11個百分點,毛利率再創上市以來新高。

 

 

市場營銷改革成功

 

五糧液不斷改善營銷渠道,提升營銷競爭力。目前,五糧液主品牌的經銷團隊初步形成了企業直營團購客戶的運營。同時,五糧液全面推進線上化轉型,“雲店”平臺、數字酒證已先後上線,新零售管理有限公司於7月份正式成立,以消費者為核心、以市場為驅動的現代化營銷組織運作體係正在加快實現。

 

 

筆者認為可在219元(50天移動平均線)附近買入,目標價235元,止蝕價210。

 

註:本人陳招富為證監會持牌人士。截至本評論文章發表日止,本人及/或其有聯繫者並無持有全部提及之証券的所有相關財務權益。

This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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