Play “nostalgic card”, Qingdao beer’s business


Streamlined bottle body, 640ml nostalgic capacity, recently, Qingdao beer “old Qingdao” products with 30 years ago “Qingdao taste” appeared in Qingdao’s major supermarkets.Bottle packaging to “old” look, performance to “before” look.In 2021, Tsingtao Beer is expected to achieve a net profit attributable to shareholders of listed companies of about 3.15 billion yuan, a record high.Tsingtao Beer’s high score “report card” benefited from the growth of its main business on the one hand, and the contribution of land sale on the other hand. Even the increase of non-operating profit and loss of selling real estate exceeded that of its main business, attracting many doubts about “performance mixed with water”.In fact, Tsingtao beer has also been caught in the “sky-high beer” storm.In the fierce competition in the beer market, there is no “always victorious general”, tsingtao beer still has a long way to go to reform.On January 23, the official wechat account of Tsingtao Brewery announced that its “old Qingdao” products have been launched in major supermarkets and hotels in the city.According to the introduction, “old Qingdao” product original reproduced the old packaging of Qingdao beer, the “Qingdao beer” and other fonts on the packaging are also the original reproduction of the trademark in those days, and even the bottle body is reduced to the nostalgia capacity of 640ml in those days.Familiar bottle body, thick nostalgic taste, will people’s thoughts pulled back to 80 90 time that braving beer foam summer night.In the current fashion trend sweeping the fashion circle, “retro” has become a symbol of style, has also become the business of the marketing password.Tsingtao’s attempts to “retro” are no longer new.As early as 2019, Tsingtao beer launched the “1903 Vintage bottle”, which recreated the classic logo of Tsingtao beer from 100 years ago and injected modern fashion elements into the can.As for tsingtao Beer’s “old Qingdao” product, Consumption Titanium degree tried to contact Tsingtao Beer, but had not received a reply as of press time.Old taste in wine, new performance in performance.According to tsingtao Beer’s 2021 performance forecast, it is expected to realize net profit attributable to shareholders of listed companies of about 3.15 billion yuan in 2021, an increase of about 948 million yuan compared with the same period last year, a year-on-year increase of about 43%.Zhu Danpeng, an analyst of China’s food industry, told Ti that Tsingtao beer’s overall development has been relatively smooth in recent years, which is not only the result of the increasing proportion of its own high-end products, but also due to the healthy development of the whole domestic beer market dividend period.The shining performance of tsingtao Beer failed to draw cheers for tsingtao Beer, and even led to the question of tsingtao beer’s performance of “water”.In tsingtao Beer’s 2021 performance forecast, Tsingtao beer pointed out that the main reason for the advance performance is due to the main business profit growth and the government acquisition and storage of land non-recurring gains and losses.In terms of main business, net profit excluding non-operating profit and loss attributable to shareholders of listed companies is expected to be about RMB 2.194 billion, an increase of about RMB 379 million compared with the same period last year, an increase of about 21% year-on-year.In terms of non-operating profit and loss, in 2021, the government will acquire and store the land of Tsingdao Brewery located in Yangjiaqun, and the land expropriation compensation is expected to increase the company’s net profit attributable to shareholders of listed companies by about 436 million yuan after the income is recognized.This also means that land sales contribute more to Tsingtao’s incremental profits than the main business.Tsingtao brewery previously released a notice, including the yangjiaqun cargo yard land, the final auction price of 1.422 billion yuan (86.9% of the company’s purchase area).It is estimated that after deducting land consolidation expenses and other taxes and related expenses, the target land expropriation compensation is expected to increase the net profit attributable to the shareholders of the parent company by about 400-500 million yuan after the income is recognized.There is news that after the auction of this land by the green beer real estate union city north city development competition, will build a beer town project.Consumption Titanium degree notes that if the net profit attributable to shareholders of tsingtao Brewery in 2021 is 3.15 billion yuan, and the net profit deducted from non-operating profit and loss attributable to shareholders of listed companies is about 2.194 billion yuan, the net profit brought by tsingtao Brewery’s non-operating profit and loss in 2021 will be 956 million yuan, and in 2020,The figure was 385 million yuan.The contribution of non-operating profit and loss to this report card is self-evident.Lai Yang, executive vice president of The Beijing Society of Business Economics, analyzed the “Consumption Titanium degree” and said that tsingtao Beer’s impressive performance in 2021 was indeed driven by non-operational gains and losses such as the sale of real estate. However, whether a company has sustained development potential depends on the growth of its main business. From this perspective,Tsingtao brewery’s net profit excluding non-recurring gains and losses increased by about 21 percent year-on-year, which is a normal growth trend.The controversy over the “sky-high price of beer” may be caused by “many people are popular and many people are wrong”. The controversy over the performance of Tsingtao Beer is not so simple as water mixing. On January 9 this year, Tsingtao Beer launched a new super high-end art collection called “LEGEND of the World” at a price of 1189 yuan per bottle, with a capacity of 1.5L per bottle, making people call the price as similar as Maotai.In fact, In 2020, Tsingtao brewery launched a series of ultra-high-end beers called “One Hundred Year Journey” priced at 1,399 yuan per bottle.Since then, the controversy over Tsingtao’s ultra-high-end series has been on the rise, but tsingtao seems to be unafraid of the “scandal” and continues to release the “Legend of life” ultra-high-end beer.According to the introduction, “I legend” used valuable century-old yeast, return to “two sections of low temperature slow ripe” ancient method technology, fusion of North American winemaker’s classic whiskey over barrel brewing method, European classic wine cellar way, will prolong the fermentation time of beer three times, as long as 100 days.The beer has 23.9p original wort concentration and over 10.5%vol alcohol, with a tasting period of three years.Beer has long been synonymous with cheap and easy drinking, but in recent years, the beer market has been changing quietly. Not only Tsingtao, but Also China Resources Snow and Budweiser have been experimenting with ultra-high-end beers.Pangu think-tank, a senior fellow at the Jiang Han told the titanium consumption degree, from the point of the current situation, super premium beer on the sustainability of the beer market is not strong, the Chinese approval of super premium beer for maotai liquor market awareness is high, such as Qingdao beer of super premium beer to launch more like a gimmick, to achieve significant market power is unrealistic.

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