Financials, Consumer Staples Jan 05, 2022 08:08 AM (GMT+8)
Associated Press, January 5, CITIC Construction Research Report believes that the Baijiu industry is still in a healthy development period, the current wine enterprises channel inventory is low, the control of the terminal is strengthening, upgrading the industry driven to high-quality brand concentration, Moutai Baijiu leading position will continue to grow. The proportion of direct sales channels and new retail channels of the company will continue to increase in 2021. Under the condition of stable volume of Maotai liquor in recent two years, it is conditional to maintain an increase of 8-10% in 2022. Even if the price system remains unchanged, the growth rate will also increase month on month. At present, the valuation of Maotai corresponds to 43x in 2022. Compared with international consumer goods companies, the valuation is still at a reasonably low level.
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