November 1, 2011Maoxiang Science and Technology announced a price increase late at night, and Guizhou Moutai's share price soared.

In terms of ETF, Penghua Fund Liquor ETF, Yinhua Fund Food ETF, China Merchants Fund Food and Beverage ETF, Warburg Fund Food and Beverage ETF, Huaan Fund Food and Beverage ETF Fund rose more than 1.5%.

Guizhou Moutai announced last night that today's take-off and five-star factory prices have been raised by an average of about 20%, and the ex-factory price is expected to be 1169 yuan after the price increase. This means that 53 degrees Feitian Moutai has ended the history of 969 yuan ex-factory price for nearly six years.

This price increase will help Moutai's net profit to move forward to hundreds of billions. After the price increase, the market is generally expected to have a great positive impact on Guizhou Moutai dividend.

Ping an Securities said that Maotai price increase strategy is sound and restrained, this price increase will help to boost industry confidence. From a historical point of view, Guizhou Moutai price increase strategy is relatively restrained and steady, even in the 2019-2021 industry upward cycle, did not choose to raise prices, to avoid excessive price fluctuations leading to the industry overheating, helping to stabilize market sentiment and highlight the leading demeanor. We believe that the price increase is within a reasonable range, and after the price increase in Guizhou Moutai, it has also opened the ceiling for thousands of yuan products such as Wuliangye and Guojiao 1573, which will help to boost the confidence in the development of the liquor industry.

Huachuang Securities believes that the significance and impact of this price increase: the company operates more calmly, and the industry ceiling is opened.

First, for Maotai, after the price increase, the company may operate more fully, or more calmly and not easily out of shape, and the company does not need to complete its performance through the volume of Platfield and non-standards. or it can effectively dispel the worries of the pre-market about the quality of next year's performance and whether the approval price can be balanced, it can also improve the channel profit mechanism, or it can solve the current fundamental risks and valuation suppression, and the valuation is expected to be revised to 30 times + in the short term.

Second, for the industry, the price ceiling is raised again, which promotes the expansion of the industry space, while other wine enterprises and brands have more room and opportunities to increase prices (for example, greatly alleviating the downward pressure of 1935 batches of prices. It is very good for the upward development of the thousand-yuan price belt), but also gives channels and dealers stronger confidence, which is conducive to the promotion of confidence and prosperity in the sector.

Third, for a higher dimension, the market has a long history of raising the ex-factory price of Maotai. It is difficult to raise the price of Maotai. It is not only a price increase and contribution to the report form, but also a more market-oriented economy.

Since February 2021, consumer stocks have continued to adjust. Since the beginning of this year, the main consumption ETF, consumption TOPETF, consumption ETF Shanghai, Hong Kong and Shenzhen, consumption ETF South, Dietetic ETF, Food and Beverage ETF Fund, consumption 50ETF, Food and Beverage ETF Food ETF, required consumption ETF, Food ETF fell by more than 10%.

Recently, the consumer industry is expected to improve. From the perspective of active equity positions in the third quarter of this year, active equity fund managers are increasing their positions in consumer stocks.

For the consumer industry, Wells Fargo fund Wang Yuanyuan said in the three quarterly reports that after the adjustment since the beginning of 2021, the consumer sector has returned to the value range; superimposed by the adjustment since the beginning of this year, the market no longer has high expectations for the recovery of consumption, but has turned to neutral or pessimistic, so on the whole, the consumer sector is in a relatively low position of valuation and expectation.

Li Xiaoxing, the Yinhua fund, pointed out that the factors that the market is worried about at present, such as the demographic dividend and the slowdown in consumption upgrading, on the one hand, the domestic economic transformation has led to a slowdown in the growth of traditional industries, affecting asset prices and future income expectations; on the other hand, fluctuations brought about by the economic cycle have led to more rational short-term consumption behavior. However, under the impact of various negative factors, consumption as a whole remains stable. After half a year of market adjustment, the valuations of many consumer companies have fallen back to the lower position of the 5-10-year dimension center. Taking into account the leading companies in the current environment, further enhanced competitive advantage, will still maintain steady performance growth, the current valuation performance-to-price ratio is better.