As China Resources Beer celebrates its 30th anniversary in 2023, China's economy is struggling to recover from the impact of the pandemic. This year, the consumer industry raised its arms and launched a strong **, but at the same time, it must also face a series of complex challenges. The changing domestic and international environment, the heightened uncertainty of the global economy, and the weak demand and poor expectations of the domestic consumer market have made it difficult for companies to pursue growth.
Benefiting from the high-end development of beer in 2017, China Resources Beer firmly promoted the construction of high-end brands, products, channels and markets even during the epidemic, and joined hands with Heineken to build a dual-brand portfolio of "Chinese brands + international brands", turning the crisis into a turning point and setting the fastest growth rate in the company's 30-year development history - net profit and sub-high-end beer sales have maintained double-digit high growth for three consecutive years.
In 2023, CR Beer has also taken many "first steps". In this year, China Resources Beer officially completed the organizational structure change, and the two major business divisions in charge of beer and non-beer business, China Resources Snowflake and China Resources Liquor, were separated for the first time to achieve professional operation. China Resources Liquor Co., Ltd. has fully developed its liquor business, integrated and operated three liquor companies of China Resources for the first time, and built an innovative strategic model of "dual empowerment of beer and white, and common growth of white and white".
In 2023, in the context of the continuous cyclical and structural adjustment of the liquor industry, China Resources Liquor has successively completed the brand renewal, product upgrade and channel transformation of Golden Seed Liquor, Jingzhi Liquor and Jinsha Liquor. Among them, the loss of Golden Seed Liquor in the first three quarters of 2023 narrowed significantly year-on-year; Jinsha Liquor has worked hard to clear its inventory at a reasonable price, optimized the main line of the dual-brand strategy of "Abstract + Jinsha Huisha", and clarified the brand positioning of "the pioneer of mellow sauce flavor in the upper reaches of the Chishui River from the birthplace of China's soy sauce liquor".
Although uncertainties and challenges still exist, in 2024, with the support of China's huge consumer market and macro policies, the fundamentals of China's long-term economic growth will not change, the contribution rate of consumer expenditure to economic growth will increase steadily, and the people's yearning for a better life will not be indomitable.
CR Beer is well aware that only sustainable growth can ensure the long-term development of the enterprise. Therefore, in 2024, the company will unswervingly adhere to the "growth is the first strategy", go all out to promote the in-depth implementation of the "3+3+3" strategy in the high-end market, and lay a solid foundation for the company's excellent development. At the same time, CR Beer will also actively explore the road of innovation, continuously improve product quality and brand image, and lead China's beer industry towards a more brilliant future. China Resources Liquor will also take this opportunity to emerge and become an emerging force in China's liquor market with its unique competitiveness and market strategy.