**: Wine industry reference.
2023 is a year of differentiation in the liquor industry, with high inventory, inversion, and reduced consumption expectations becoming the main theme of the liquor industry. The continuous decline in liquor production capacity and the number of liquor enterprises on the scale means that the liquor industry has entered the stock market competition, the Matthew effect is highlighted, and the concentration trend is intensified.
In the past 20 years, Yanghe has counterattacked to the third place in the liquor industry as a dark horse, surpassing Luzhou Laojiao and Fenjiu. But the iron Mao Wu, the third in the flowing water. The growth of the third quarter report has slowed down, and there are strong enemies to catch up, Yanghe urgently needs to stabilize the status of "liquor third".
In 2003, Yanghe launched the blue classic series with the popular strategy, and made the "Blue Classic" series successfully out of the circle through accurate product positioning, high-end product packaging and overwhelming advertising, with a compound growth rate of 198 yuan in 3 years6%。
Twenty years later, the blue classic series products are still the main revenue force of Yanghe, accounting for more than 70% of its sales assessment last year. But the market has higher expectations for Yanghe: can the dark horse that swept the industry in the leading competition go to the next city?
Just as the end of the year approached, Yanghe launched the largest round of personnel changes of the year. According to the announcement recently issued by Yanghe Co., Ltd., due to work adjustments, the company's former vice presidents Lin Qing and Zheng Bujun resigned, and Fan Xiaolu, Chen Taisong, Zhang Xueqian, and Song Zhimin were appointed as vice presidents of the company.
For this personnel change, the relevant personnel of Yanghe Co., Ltd. told ** that due to the company's business needs, the normal personnel relationship adjustment was carried out on the scope of work and business. "The company's internal operations have been steadily improved. ”
In 2021, after the new head Zhang Liandong took office, Yanghe opened a new era of "second entrepreneurship", comprehensively adjusted from product structure, brand building, technological innovation, channel construction, etc., and put forward the development strategy of "double famous liquor, multi-brand, multi-category", and also established the development layout of "famous liquor, high-end, and national" for Shuanggou.
After the new management took office, it took the initiative to reform the organizational structure and introduced equity incentives to enhance the enthusiasm of the teamThe product remodeling of the three series of Haitian Dream has enhanced the brand power through the layout of high-end Dream 6+, ultra-high-end Dream 9 and manual classes, as well as more marketing, while improving the channel profit marginAnd give up the previous in-depth distribution, deepen the dealer model, there are currently more than 8,000 dealers, all over the country.
Liquor has entered the era of stock competition, the future competition is undoubtedly fierce, the production capacity of peers are expanding, which requires the operation of enterprises to be more refined, in which how to enhance brand power may be the key to competition.
In this regard, Zhang Liandong is determined to win, "To achieve the '14th Five-Year Plan' of the liquor industry, an annual growth rate of 15% is not enough. At the general meeting of shareholders held this year, Zhang Liandong said in a high-profile manner, "To realize the 'double increase' of enterprises from the second entrepreneurship to the second take-off and then to the second leap, the annual growth rate needs to be no less than 18."5%。”
Make efforts to high-end and start the third defense battle.
Although the pattern of Mao Wuyang is still stable, the battle between the iron-clad "Mao Wu", the third in the flowing water, and the "Tanhua" in the liquor industry is intensifying.
After last year's revenue stood at 30 billion, Yanghe shares continued to maintain double-digit growth this year, and the annual net profit exceeded 10 billion for the first time. Yanghe, which ranks among the top three in revenue this year, is not worry-free, but it has been surpassed by Luzhou Laojiao and Shanxi Fenjiu in terms of net profit. For the first time in nearly a decade, Luzhou Laojiao took 105 in the first three quartersThe net profit of 6.6 billion exceeded Yanghe's 1020.3 billion, and the revenue scale of Shanxi Fenjiu is also narrowing the gap with Yanghe.
The growth of the third quarter report has slowed down, and there are strong enemies to catch up, Yanghe urgently needs to stabilize the status of "liquor third".
Judging from the specific data, in the first three quarters of this year, Yanghe's revenue was 302800 million yuan, net profit attributable to shareholders of listed companies was 10.2 billion yuan, of which revenue increased by 14% year-on-year35%。According to the goal of striving for revenue growth of 15% at the beginning of the year, Yanghe's performance target this year is likely to be fulfilled.
At the same time, on this side, Luzhou Laojiao Liu Miao wants to "return to the top three";On the other side, "Fen Boss" Yuan Qingmao shouted "There is one of three points in the world".
Zhang Liandong couldn't slack off, Yanghe spent a lot of effort on marketing in the first three quarters, and the company's sales expenses were 356.2 billion yuan, a year-on-year increase of more than 4 percent, and the sales expense ratio reached 1176%, which is the strongest among the top five liquors.
It is mainly due to the increase in efforts and expenses. Yanghe responded.
In the investor research activities in September, some executives said that since the beginning of this year, Yanghe has continued to take a large number of measures to promote sales and destocking.
Contract liabilities are a reservoir for wine companies. As of the end of September, Yanghe's contract liabilities were 551.6 billion yuan, down 3251%, up from 137 at the beginning of the year4.2 billion yuan, a sharp decrease of nearly 7%.
From the dealer's point of view, this may also be Yanghe's initiative to relieve its pressure.
Not only that, compared with Moutai and Wuliangye, Yanghe still has a gap in the high-end ** belt, and under the rapid catch-up of Shanxi Fenjiu and Luzhou Laojiao, the volume advantage has also weakened, the competition for the position of Tanhua has intensified, and the pace of expansion of competitors in the province is also accelerating.
At the sugar and wine meeting held in April this year, Zhang Liandong said: "The liquor industry has entered a stage of deep competition, and Moutai's channels are also sinking, and the competition will become more and more fierce." He said frankly that Yanghe shares are weak in the high-end and are developing at full strength. "We are already planning, we account for 10% of the ultra-high-end, and 10% for the thousand-** belt. Zhang Liandong said.
Since the implementation of the multi-brand strategy, all brands in Yanghe have been accelerating the process of high-end.
In 2019, Yanghe launched the upgraded version of the M6 "Dream Blue M6+", and in 2020, it launched the upgraded version of the Dream Blue M3 "Dream Blue Crystal Edition", which upgraded the main product after many years.
In 2021, after the new head Zhang Liandong took office, Yanghe opened a new era of "second entrepreneurship", comprehensively adjusted from product structure, brand building, technological innovation, channel construction, etc., and put forward the development strategy of "double famous liquor, multi-brand, multi-category", and also established the development layout of "famous liquor, high-end, and national" for Shuanggou.
Yanghe further promoted M6+ to become the leading product of the Dream Blue series, driving the price upgrade of the Dream series, and launched the Dream Blue Handicraft Class (Master), pushing up the ceiling of the handicraft class series in the ultra-high-end ** belt, and enhancing the overall brand potential of Dream Blue.
In addition, Shuanggou and Guizhou Guijiu also undertake the mission of high-end, and in recent years, they have launched Sujiu Toupai Liquor and Guijiu Family, and entered the thousand-yuan ** belt.
Driven by the overall high-end, the average tonnage price of Yanghe shares has increased to 18 in the first half of this year50,000 tons, an increase of about 20% over last year.
Famous wine strategy, go international.
2023 is a year of deepening reform and deep transformation of Yanghe shares. At the annual work meeting, Zhang Liandong set the tone.
In February this year, Zhang Liandong released the "Yanghe Famous Liquor Strategy", proposing that Yanghe should "build a Chinese famous liquor building". At the Yanghe Famous Liquor Value Forum and New Product Launch Conference, Zhang Liandong said that famous liquor is not only a "living fossil" of the industry, but also an "evergreen tree" of the industry, and a "promoter of innovation, a pioneer of reform, and a bearer of feelings", and has always been at the forefront of industry development and market consumption.
Implemented in specific brand products, under the multi-wheel drive of "Wonderful Yanghe, Fengcai Shuanggou, Colorful Guijiu, and Colorful Pear Flower Village", Yanghe has sorted out a clear product matrix. In the past two years, the blue of the sky and the blue of the sea have been renewed"Dream Blue M6+" and Dream Blue M9 further expand the high-end market;Products such as the first row, Su Liquor, and Guijiu Family have successively developed ...... categories
Tie Li, executive chairman of Sichuan Liquor Circulation Association, put forward three suggestions for the revival of Yanghe famous liquor, one is to strengthen the waist in addition to strengthening the high-end and chassis;Second, in terms of market, in addition to consolidating East China, we should attach importance to the western region, especially the Chengdu regionThe third is to realize the importance of integrating channels in a truly strategic sense.
At the World Famous Wine Value Forum held in Shanghai in October this year, Zhang Liandong proposed a "three-step method" to let Chinese famous wine go to the world. "It is necessary to build a community with a shared future for world famous wines in the times, plan a new future for world famous wines with a larger pattern, a wider vision and more inclusiveness, create a 'Chinese taste' of the world's fragrant world, and create a 'Chinese business card' that is well-known at home and abroad. Zhang Liandong emphasized.
It is understood that as one of the earliest Chinese liquor companies to explore the internationalization of liquor, the internationalization of Yanghe Co., Ltd. started early, fast and long, and has gone through a hundred years. In recent years, Yanghe has made two efforts around internationalization: one is to go out as a product;The second is to carry forward the culture of Chinese liquor and go out.
It is reported that at present, Yanghe's "Dream Blue" series products have been exported to 52 countries and regions around the world, and are often used as a wine to entertain important guests at national banquets. For example, it has successively appeared on important international stages such as the "G20 Hangzhou Summit, the World Internet Conference, the "Belt and Road" Summit, the "Understanding China" International Conference, and the Bishkek SCO SummitThis summer, "Dream Blue" was selected as the tasting wine for the "Cultural Night" of the 2023 Tianjin Summer Davos Forum, becoming a "dream messenger" to promote friendly exchanges in the world, so that foreign friends can understand China and Chinese can understand the world.
Manufacturers win-win, manufacturers symbiosis.
For liquor companies, distributors are blood vessels and lifelines.
Zhang Liandong once said: "Yanghe can't overstate the respect for dealers. ”
At the Yanghe dealer conference, Zhang Liandong said that "let Yanghe's dealers become the most enviable dealers in this industry", and the company awarded up to 1500 million yuan in rewards and honors.
Zhang Liandong also refined the concept of "altruism" for dealers, he used 91 pages of PPT to promote Yanghe, and communicated with dealers until more than 1 o'clock at midnight. He said that the strong business project allows dealers to continue to improve, the rich business project makes dealers continue to improve, and the business project helps dealers continue to innovate, and at the same time refines 20 preferential measures to achieve manufacturer co-creation, manufacturer co-construction, manufacturer win-win, and manufacturer symbiosis.
At the famous wine conference held in April this year, Zhang Liandong once again made a promise to dealers, "I am here to make a statement to you, most of the dealers have my WeChat, mobile phone number, I can understand the information of the capital market for the first time, understand the information of market development, and more importantly, the first time to understand the difficulties and confusion encountered by dealers in the development, and also to understand my own team in the process of serving the market, serving consumption, and serving the majority of dealers. Not in place. Therefore, Yanghe has an iron heart, an iron wrist and an iron discipline to manage its own team for these problems, so that the majority of dealers can do their own market with peace of mind and do their own business with peace of mind. ”
Zhang Liandong said that a fire broke out in a dealer warehouse in Henan, and it was estimated that there was a loss of 20 million. "Especially at this time, we say that the support for the majority of dealers, several communities together is not a slogan, but a real action. ”
Zhang Liandong further introduced that Yanghe is still deepening adjustment and reform, and there will be greater changes in Yanghe. He emphasized that the treatment of dealers, Yanghe to build a community of entrepreneurship, wealth, career, life, and dealers friends "want to be together, stand together, work together, struggle together", is not a slogan but a practical action, Yanghe will always unswervingly stand with the majority of dealers, and always be the strongest backing for the majority of dealers.
Let Yanghe's dealers become the most enviable dealers in this industry. Zhang Liandong bluntly said that it is necessary to achieve a win-win situation for manufacturers and a symbiosis for manufacturers.
From an enterprise on the verge of closure 20 years ago, we have gradually developed into a dark horse in the liquor industry through channel innovation, product innovation and packaging innovation, creating a miracle in the industry. For the development of Yanghe shares, Zhang Liandong is quite emotional.
To make wine is to be a person, and wine is to be a character. After the revenue exceeded 30 billion, I believe that Yanghe will maintain its position as the "flower" in the liquor industry under the leadership of Zhang Liandong, so that Yanghe will truly move towards the revival of famous liquor.