Special topic: Shanxi Fenjiu releases 2023 annual report, jumping to 30 billion annual revenue level On the evening of April 25, Shanxi Fenjiu released the company\’s 2023 annual report.
The annual report shows that in 2023, the company achieved operating income of 31.928 billion yuan, a year-on-year increase of 21.8%; net profit attributable to listed companies was 10.438 billion yuan, a year-on-year increase of 28.93%.
Shanxi Fenjiu divides its alcohol revenue into medium and high-priced alcoholic beverages and other alcoholic beverages. The former refers to products priced at 130 yuan per liter and above. Representative products include the Blue and White Fenjiu series, Panama Fenjiu series, Laobai Fenjiu series, Qingxiang Zhuyeqing series, etc. Representative products of the latter include the Ordinary Fenjiu Series, Ordinary Bamboo Leaf Green Series, Xinghuacun Liquor Series, etc.
Specifically, mid- to high-priced alcoholic beverages will achieve revenue of 23.203 billion yuan in 2023, a year-on-year increase of 22.56%.
The gross profit margin was 84.09%, an increase of 0.11 percentage points over the previous year.
Other alcoholic beverages achieved operating income of 8.540 billion yuan, a year-on-year increase of 20.15%.
The gross profit margin was 51.65%, a decrease of 1.09 percentage points year-on-year.
Although the gross profit margin of other alcoholic beverages has slightly decreased, the revenue from mid- to high-priced alcoholic beverages has become the absolute main force in Shanxi Fenjiu’s revenue. It is the high growth of this part that has become a strong support for Fenjiu’s annual revenue to cross the 30 billion threshold.
This is also in line with Shanxi Fenjiu’s judgment that “consumers’ requirements for product quality will further increase and will actively promote the transformation and upgrading of the liquor industry.”
