Shanxi Fenjiu (600809): 2023 ends perfectly 2024Q1 profit exceeds expectations
Incident description Event: Achieved operating income of 31.928 billion yuan in 2023, up 21.8% year on year; net profit attributable to shareholders of listed companies was 10.438 billion yuan, up 28.93% year on year; basic earnings per share 8
Fenjiu, Shanxi (600809): Nationalization & high-end trend continues, profit flexibility is evident under excellent cost rate control
[23-year performance] The company's operating income/net profit attributable to mother in 2023 was RMB 319.28/10.438 billion yuan respectively (YoY +21.80%/+28.93%); 2024Q1 Company's operating revenue/return to mother
Fenjiu, Shanxi (600809): Q1 once again verifies that it is in a strong energy period, the annual performance is more certain
Event: Achieved revenue of 31.928 billion yuan in 2023, +21.80% year over year; realized net profit of 10.438 billion yuan, +28.93% year over year; realized deducted non-net profit of 10.444 billion yuan, +2 year on year
Fenjiu, Shanxi (600809): Overall growth potential continues
Incident: The company released its 2023 annual report and 2024 quarterly report. In 2023, it achieved operating income of 31.93 billion yuan, +21.8% year-on-year; net profit to mother was 10.44 billion yuan, +28.9% year-on-year. 2024
Fenjiu, Shanxi (600809): Good cost control effect, continuous improvement in profitability
Incidents. The company released its 2023 annual report: in 2023, the company achieved total revenue of 31.928 billion yuan, +21.8% year-on-year, and net profit to mother of 10.438 billion yuan, +28.9% year-on-year, of which Q4 was a single quarter
Fenjiu, Shanxi (600809): 23 ended successfully, and the revenue for the first year of 24 met expectations, and profits exceeded expectations to achieve a good start with high quality
Incident The company released its 2023 annual report and 2024 quarterly report. 2023. The company achieved total revenue of 319.28/104.38/10.445 billion yuan of net profit attributable to mother/ net profit not attributable to mother, the same
Shanxi Fenjiu (600809) Company Information Update Report: Growth Potential Does Not Decrease, Performance Flexibility Continues
High-end and nationalized growth potential is strong, and the performance growth rate exceeded expectations, maintaining the “buy” rating of 2023 revenue of 31.93 billion yuan, +21.8% year-on-year, and net profit of 10.44 billion yuan, or +28.9% year-on-year. 2
Fenjiu, Shanxi (600809): Steady release of reform dividends
The company announced 2023 and 2024Q1 results: 24Q1: revenue of 15.338 billion yuan (+20.94%), income of 6.262 billion yuan (+29.95%), deducted not 6.261 billion yuan (+30.
Debon Securities released a research report on April 28 stating that it gave Shanxi Fenjiu (600809.SH) an increase in its holdings. The main reasons for the rating include: 1) revenue performance is in line with expectations, and the high increase in adva
Debon Securities released a research report on April 28 stating that it gave Shanxi Fenjiu (600809.SH) an increase in its holdings. The main reasons for the rating include: 1) revenue performance is in line with expectations, and the high increase in advance payments is expected to be driven by price increases in Qing20; 2) high-end consumption during the Spring Festival was good, and the product structure was bright in the first quarter; 3) simultaneous development within and outside the province in 2023, and the growth rate outside the province was faster in the first quarter; 4) an increase in gross margin or a decrease in sales expenses, driving continuous optimization of profitability. (Mainichi Keizai Shimbun)
Shanxi Fenjiu (600809): 23 years ended smoothly, Q1 structure is impressive
Revenue performance is in line with expectations, and the high increase in advance payments is expected to be driven by the price increase of Qing20. In 2023, the company achieved operating revenue/performance of 319.28/10.438 billion yuan respectively, +21.80%/+28.93% YoY
Guoyuan Securities released a research report on April 28 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) the product structure continues to be upgraded and the nationalization process continue
Guoyuan Securities released a research report on April 28 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) the product structure continues to be upgraded and the nationalization process continues to advance; 2) profitability continues to improve. (Mainichi Keizai Shimbun)
Bank of China Securities released a research report on April 28 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) the Blue and White series is growing rapidly, with the domestic and foreign marke
Bank of China Securities released a research report on April 28 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) the Blue and White series is growing rapidly, with the domestic and foreign markets going hand in hand, with revenue up 21.8% in 2023, which is higher than the annual target plan; 2) 1Q24 revenue increased by 20.9%, and net profit to the mother increased by 30.0%. The performance growth rate is expected to continue to be in the leading position in the liquor industry; 3) Fenjiu is expected to maintain a rapid performance growth rate in the next two years and continue to lead the industry. (Mainichi Keizai Shimbun)
Fenjiu, Shanxi (600809): Q1 results surpassed expectations and are ready to compete in the top three industries throughout the year
Investment highlights: Shanxi Fenjiu released its annual report for the year 23 and the quarterly report for 2014. FY23/23Q4/24Q1 achieved total operating income of 319.28/51.84/15.338 billion yuan, +21 compared to the previous year.
Guolian Securities released a research report on April 27 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) revenue is in line with expectations and cash flow performance is good; 2) the Blue and
Guolian Securities released a research report on April 27 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) revenue is in line with expectations and cash flow performance is good; 2) the Blue and White series is growing at a high rate, and product structure upgrades drive increased profitability. (Mainichi Keizai Shimbun)
Guohai Securities released a research report on April 26 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) revenue of over 30 billion yuan in 2023, good start in 2024, continued high growth; 2) n
Guohai Securities released a research report on April 26 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) revenue of over 30 billion yuan in 2023, good start in 2024, continued high growth; 2) net interest rate increased further, and cash flow increased significantly in the first quarter; 3) the nationwide layout continued to advance, and the channel product strategy was further deepened. (Mainichi Keizai Shimbun)
Deep* Company* Shanxi Fenjiu (600809): The ability of the sales team to maintain a relatively rapid growth rate in the first quarter has been verified
Shanxi Fenjiu published its annual report for the year 23 and the quarterly report for '24. Achieved revenue of $31.93 billion in 2023, up 21.8% year on year, net profit of 10.44 billion yuan to mother, up 28.9% year on year, and earnings per share of 8.56
Dongwu Securities released a research report on April 26 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) it was fulfilled as scheduled in '23, making great strides forward; 2) sales rates impro
Dongwu Securities released a research report on April 26 stating that it gave Shanxi Fenjiu (600809.SH) a purchase rating. The main reasons for the rating include: 1) it was fulfilled as scheduled in '23, making great strides forward; 2) sales rates improved significantly throughout the year, and tax fluctuations slightly lowered profits; 3) the 24Q1 structure was strong, and profits continued to rise. (Mainichi Keizai Shimbun)
Fenjiu, Shanxi (600809): High-end highlights of the blue and white series highlight strong revenue growth south of the Yangtze River
Core performance: The company achieved revenue of 31.93 billion yuan (yoy +21.8%) in 23 years; realized net profit of 10.44 billion yuan (yoy +28.9%). In 23Q4, revenue and net profit to mother increased year-on-year respectively
Review of Shanxi Fenjiu (600809) 2023 Annual Report and 2024 Quarterly Report: Strengthening Competitive Advantages
Guide to this report: The company successfully concluded 2023, continued nationalization, and the 2023Q4+2024Q1 profit growth rate was in line with expectations; 2024Q1 high-quality growth continued, and the company's competitive advantage continued in the latter half of the liquor inventory cycle
Fenjiu, Shanxi (600809): Health surpasses 30 billion dollars, increases marketing and seeks new opportunities
Incident: In 2023, the company achieved revenue of 31.928 billion yuan, +21.8% year-on-year; net profit to mother was 10.438 billion yuan, +28.93% year-on-year. Achieved revenue of 15.338 billion in the first quarter of 2024
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