Consumer Staples Aug 02, 2021 09:13 AM (GMT+8) · EqualOcean
Huaan Securities Research Report believes that the second quarter performance of Guizhou Maotai is in line with expectations, and the annual goal can be achieved steadily. Looking forward to the 14th five year plan, it is expected that the growth of Maotai will be mainly driven by the rise of average price, and maintain the profit forecast that the net profit attributable to the parent company will increase by 12.3%, 25.1% and 12.8% from 2021 to 2023. The huge channel price difference and strong brand strength ensure that Maotai has large room to rise out of the factory price and strong ability to improve market share. The logic of simultaneous rise of price and volume in the future is still smooth and high certainty. The revenue and profit can maintain the double-digit compound annual increase and maintain the "buy" rating.
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