With the help of Robust’s actual controllers, the performance of Gu Yue Longshan will still be improved, which still needs time to test.
Editor’s note: This article comes from the WeChat public account “Daily Economic News” (ID: nbdnews) .
Also selling wine, the performance of the “liquor first share” in Maotai, Guizhou and the “yellow wine first share” in ancient Yuelong Mountain in the capital market is far different.
On the basis of a 103% rise in the share price of Maotai in Guizhou last year, as of May 27, this year ’s increase has reached 14%, and it has reached new highs, with the latest market value reaching 1.68 trillion yuan.
Image source: Wind
The ancient Yuelong Mountain, which landed on A shares as early as 1997 (four years earlier than Guizhou Moutai), started a long decline after its share price reached a historical high of $ 20.41 in 2015. It’s already 10 yuan, and the latest market value is only 7.4 billion yuan, which is less than 0.5% of the market value of Maotai in Guizhou.
Image source: Wind
Many people think that compared with liquor, the sales of rice wine have been restricted to Jiangsu, Zhejiang and Shanghai, and are mostly low-end products. In this regard, Gu Yue Longshan has also made efforts. Last year, the company launched a high-end wine against the standard Moutai-1959 yuan / bottle of yellow wine, but from the market feedback, it is still in the “priceless market” stage.
In this context, on the evening of May 26, Gu Yue Longshan announced that it intends to introduce Shenzhen Qianhai Furong Asset Management Co., Ltd. (hereinafter referred to as “Qianhai Furong”), Zhejiang through non-public offering of shares Yingjia Technology Co., Ltd. (“Yingjia Technology”) and other strategic investors. Guo Jingwen, the real controller of Qianhai Furong and Yingjia TechnologyIt is also the operator of the “Robes” brand.
Inspired by the above-mentioned news, on the 27th, Gu Yue Longshan opened higher and moved higher after the opening of the market.
We plan to introduce Robust ’s actual controllers as shareholders
On the evening of the 26th, Gu Yue Longshan announced that the company intends to introduce strategic investors through non-public offering of shares, with a total fund raised of 1.095 billion yuan. After deducting related expenses, it is planned to fully invest in the “Yellow Wine Industrial Park Project (Phase I )engineering”. The number of shares issued this time is 155 million shares, priced at 7.06 yuan / share. Qianhai Furong subscribed for 105 million shares, with a subscription capital of 744 million yuan. The number of subscriptions of Yingjia Technology is 49.652 million shares, and the subscription capital is 351 million yuan.
Image source: company announcement
It is worth mentioning that after the completion of the above non-public offering, Qianhai Furong will become the second largest shareholder of Guyue Longshan, and together with Yingjia Technology, a concerted person, will hold 16.09% of the shares; The group (behind the State-owned Assets Supervision and Administration Commission of Shaoxing City), the shareholding ratio dropped from 41.39% to 34.73%.
The announcement shows that Guo Haiwen, the actual controller of Qianhai Furong and Yingjia Technology, and their related parties, Yingtou Holdings, operate two well-known brands, “Angel” and “Robes”, and have built tens of thousands of sales outlets across the country. , Covering hundreds of millions of consumers, has a complete sales channel for FMCG and related industries, especially in the food and beverage field, and has extensive experience in brand sales.
Guyue Longshan stated that all parties will carry out multi-dimensional cooperation at a strategic level, including but not limited to Qianhai Furong, Yingjia Technology, etc. Relying on their own food and beverage field management team and high-level human resources, to provide Guyue Longshan with professional Human resources and management experience in the food and beverage industry; all parties share real-time information on the development status and trends of the FMCG industry, especially the beverage industry, to assist Gu Yue Longshan to prospectively develop new markets, etc.
In addition, the above two strategic investors will actively assist Gu Yue Longshan to develop sales channels throughout the country, especially in the “non-yellow wine traditional consumption areas” outside of “Jiangzhehu”, and assist in negotiating large chain supermarkets and local comprehensive strength. 3. Experienced FMCG distributors.
At present, the above-mentioned introduction of war veterans in Longyue Mountain of Gu Yue still requires the second advent in June 11, 2020Approved by the shareholders meeting. Non-public offerings also need to obtain approval from the China Securities Regulatory Commission.
Development has been trapped in Jiangsu and Zhejiang for many years
Public information shows that the main products of Ancient Yuelong Mountain are Ancient Yuelong Mountain, Daughter Red, Zhuangyuanhong, Shen Yonghe, Jianhu Brand, etc. Shaoxing rice wine is the first batch of national geographical indication products in China. Among them, the ancient Yuelong Mountain is an iconic brand in the Chinese rice wine industry, the only rice wine for the national banquet of the Diaoyutai State Guesthouse, and the only rice wine brand selected among the “Asian Brand 500”. The company’s products are distributed in major cities across the country and exported to Japan, Southeast Asia and other countries The area enjoys the reputation of “national essence rice wine”.
Photo source: Ancient Yueshan official website
Since landing in the A-share market in 1997, Gu Yue Longshan has been fighting in the capital market for more than 20 years. As the first listed wine company and the largest wine company in the rice wine industry, Gu Yue Longshan has become a “yellow wine spokesperson” to some extent. “.
However, the development of rice wine has been trapped in Jiangsu, Zhejiang and Shanghai for many years. Gu Yuelongshan said in the 2019 annual report that the company’s market competition and resource investment are mainly concentrated in the core consumer areas of Jiangsu, Zhejiang and Shanghai. The national market layout and construction are still in an extensive growth stage. The lack of refined operations has led to a weak consumer atmosphere and weak foundation.
The company also said that the products consumed by rice wine are mostly concentrated in the mid-range and ordinary rice wine products, and the price is low, resulting in a lack of brand and product value sense, which does not match the value sense of the business market demand and has not yet been able to cut into traditional business. Market price band.
From the perspective of the rice wine industry, data from the China Wine Industry Association show that in 2019, the national rice wine enterprises achieved a total sales revenue of 11.79 billion yuan, an increase of 1.50% year-on-year; the total profit reached 1.217 billion yuan, an increase of 4.78% year-on-year. At present, the scale of the entire alcohol consumption market has reached one trillion yuan, and the rice wine market of only about 10 billion yuan is only equivalent to the volume of a Luzhou old cellar.
Southwest Securities said in the research report that the rice wine industry is currently in a growth bottleneck, and the mainstream consumer group is still limited to the Jiangsu, Zhejiang, and Shanghai regions. In terms of industry competition, the stocks of the three wine companies in the ancient Yuelongshan, Huijishan, and Jinfeng liquor industries are fiercely competitive. In terms of market competition, due to the low taste and recognition, the nationalization process is slow, and the Fu market in the short term and the outside market is difficult to see a significant amount of growth.