Kweichow Moutai, China’s A-share “Share King” (600519-CN) shares rose more than 3% intraday on Tuesday (8th) and drove liquor stocks higher, as Moutai released its first monthly operating data on Monday, which seemed to show its determination to support the market.
Moutai’s shares rose 3.07% in intraday trading on Tuesday toRMB 1,759.38 yuan. Moutai suddenly issued an announcement on Monday, saying that the revenue in the first two months was regarding 20.2 billion yuan, and the net profit was regarding 10.2 billion yuan, both of which increased by regarding 20% compared with the same period last year.
This is the first time that Moutai has released monthly operating data. Moutai also claimed that this is normal information disclosure, and the market does not need to interpret it excessively.
Ping An Securities said that Moutai’s revenue and net profit jumped by regarding 20% at the same time, and the growth rate was greater than 10.93% and 6.57% in the first quarter of last year, respectively, indicating that this year’s performance “has a good start”.
Although Moutai’s performance is good, investors still don’t appreciate it. As of Monday’s close, the stock price has fallen 16.7% this year. Against this background, the outside world generally believes that Moutai rarely discloses its first two months of performance, which seems to be a signal of “stabilizing the military’s heart”.
Looking forward to the market outlook, Everbright Securities believes that due to the disturbance of the market since the beginning of the year, Moutai’s share price has fallen significantly, increasing the value of allocation, and the data in the first two months has basically shown growth in the first quarter’s performance, and Moutai is expected to usher in a financial report catalyzing market.
Guohai Securities also said that foreign capital outflows and policy concerns were the main reasons for the previous decline in liquor stocks. At present, such stocks are still in a vacuum period of financial reports, and investors are still worried that the repeated epidemic situation and economic downturn will make it difficult for funds to form a synergy. However, Guohai Securities believes that the decline in the stock price of the liquor group has nothing to do with fundamentals, and the first quarter will likely have a “good start”.
