On May 20, Shanxi Fenjiu held a 2023 annual performance presentation meeting. Some investors asked at the meeting that Fenjiu, as a Fen-flavor liquor, has great advantages in international communication. What achievements has the company made in internationalization?
In response, Zhang Yongyi, deputy general manager of Shanxi Fenjiu and general manager of the sales company, responded that the company has followed the marketing route of "differentiation, piloting, and scene-based" to strengthen brand culture communication and deepen its relationship with young consumers in the international market. Interaction with consumers, exploring new overseas operation models of "communication + tasting","fine wine + food" and "brand + culture", and held the "Qingxiangfen International Fragrance-Fenjiu Internationalization Development Forum". Expand ideas for the international development of Fen-flavor liquor. Actively promote the "Belt and Road" series of international new products, make high-frequency appearances at international high-standard exhibitions, carry out traditional Chinese festival-themed activities according to local conditions, and tell the story of Chinese liquor in the international market. In 2023, the company will develop 19 dealers in 17 blank markets including Portugal, South Africa, and Brazil. The global sales network will continue to expand, and the brand's international influence will be increasingly enhanced.
On April 25, Shanxi Fenjiu disclosedbattle3pennAnnual report. The report shows that the company will achieve operating income of 319 in 2023battle3penn.28 billion yuan, a year-on-year increase of 21battle3penn.8%, successfully exceeding 30 billion yuan. The net profit attributable to the parent company was 10.438 billion yuan, a year-on-year increase of 28.93%. Since 2020, Fenjiu's revenue has reached a compound annual growth rate of 32%, and its net profit has reached a compound annual growth rate of 50%.
From a nationalization perspective, revenue outside the province will reach 19.659 billion yuan in 2023, a year-on-year increase of 22.84%, accounting for 62% of total revenue. The province's revenue was 12.084 billion yuan, a year-on-year increase of 20.41%. According to the information disclosed in the annual report, the 1 billion-yuan market outside the province continued to increase last year, and the core market south of the Yangtze River grew by more than 30% year-on-year. Nationalization is full of potential.
In terms of product structure, alcohol revenue was 31.743 billion yuan, a year-on-year increase of 21.9%. Among them, medium and high-priced liquor achieved revenue of 23.2 billion yuan, a year-on-year increase of 22.6%, and both volume and price increased.battle3pennHis liquor achieved revenue of 8.54 billion yuan, a year-on-year increase of 20.2%; the product structure continued to be optimized. The revenue from the blue and white series exceeded 10 billion yuan, accounting for 46% of sales, while the blue and white 20 became a single product of 10 billion yuan.
In 2023, Shanxi Fenjiu successfully crossed the threshold of 30 billion yuan. From the perspective of total market value, Shanxi Fenjiu is already the third largest listed liquor company after Kweichow Moutai and Wuliangye.