China Food

steady! Wuliangye’s revenue has increased by double digits for six consecutive years

“Steady growth of performance”, “steady achievement of annual goals and continued steady growth in the future”, “down-to-earth and steady progress”, “steady growth can be expected” and “steady progress”… Recently, Wuliangye released its 2021 annual report and the first quarter report of 2022. Xiaoshidai noted that the word “steady” was mostly used to summarize Wuliangye’s performance in the 2021 annual report and the first quarter performance of 2022, So where is Wuliangye’s stable performance? How does it ensure the steady growth of performance? How will it maintain steady development in the future?



According to the data, Wuliangye achieved an operating revenue of 66.209 billion yuan in 2021, a year-on-year increase of 15.51%; The net profit attributable to shareholders of listed companies was 23.377 billion yuan, a year-on-year increase of 17.15%. Wuliangye’s performance in the first quarter was also extraordinary. In the first quarter of 2022, Wuliangye achieved an operating revenue of 27.548 billion yuan, a year-on-year increase of 13.25%; The net profit attributable to shareholders of listed companies was 10.823 billion yuan, a year-on-year increase of 16.08%.

It is worth noting that Wuliangye’s performance has been growing steadily for a long time. Looking at the past performance of Wuliangye, xiaoshidai found that in terms of revenue alone, Wuliangye had achieved double-digit growth for six consecutive years by 2021. Compared with six years ago (2016), Wuliangye’s revenue increased by 2.7 times and its net profit attributable to its parent increased by 3.5 times. With the release of the first quarterly report of 2022, Wuliangye has refreshed this high-quality and steady growth record to 25 quarters.

Xiaoshidai also noted that in 2021, the operating revenue of Wuliangye series liquor products reached 12.62 billion yuan, exceeding 10 billion, with a significant year-on-year increase of 50.71%. It is not difficult to see that Wuliangye attaches importance to brand construction. Statistics show that in 2021, Wuliangye ranked first in the industry in terms of brand value growth among the “top 500 global brand values” and “top 500 China’s most brand values”.


30.23 yuan (including tax) is distributed for every 10 shares, and the total cash dividend is 11.734 billion yuan, with a dividend ratio of 50.20%. In addition to the outstanding achievements, Wuliangye’s 2021 annual report also disclosed its enviable profit distribution plan for 2021.

Xiaoshidai noticed that this is the second year of Wuliangye’s cash dividend of more than 10 billion yuan. It is one of the two western listed companies (Wuliangye and Moutai in Guizhou) and the only listed company in Sichuan. More notably, on March 30 this year, Wuliangye issued a commitment announcement that the cash dividend should not be less than 11.5 billion yuan, which shows that the actual dividend of Wuliangye is more than 200 million yuan higher than the commitment.

In fact, in the past seven years, the proportion of Wuliangye’s dividend scale in the performance has been relatively stable, maintained at about 50%. According to statistics, since its listing in 1998, Wuliangye has implemented bonus shares for 7 times and 19 cash dividends for a total of 61.3 billion yuan (including cash dividends in 2021), which is 16 times the total amount of funds raised since its listing. The total dividend of Wuliangye in Sichuan Province exceeded RMB 161.3 billion, accounting for nearly 30% of the total dividend of Wuliangye listed companies in 2007.

Wuliangye said that the cash dividend rate remained at about 50%, which is to share the company’s development achievements with investors. “Allowing the majority of investors to share the dividends of the company’s performance growth is not only the embodiment of the company’s sustained and high-quality development, but also the cornerstone of strengthening the confidence of the capital market and investors. It is the responsibility of the company’s development.” Some investors also pointed out that steady dividends can attract more long-term funds, which will not only help guide the rational investment of the market, but also help the sustainable, stable and healthy development of enterprises.

Statistics show that as of April 22, in 63 research reports released by wind this year, securities companies have given Wuliangye a positive recommendation or above rating. Among them, there are many views on Wuliangye’s undervaluation and expected repair, highlighting their confidence in the new management. Some securities companies made it clear that Wuliangye will probably be one of the leading Baijiu enterprises with the strongest resilience in the future.


Behind the steady growth of Wuliangye’s performance and stable dividends, Wuliangye has a solid foundation for its operation and development. Wuliangye strives for perfection in the process that Baijiu relies on.

“Wuliangye is a typical representative of Luzhou flavor Baijiu. In addition to the common solid-state fermentation processes of Chinese Luzhou flavor Baijiu, such as’ solid-state continuous distiller’s grains, mud cellar fermentation, mixed steaming and burning, and slow fermentation ‘, Wuliangye also has its own unique secret,’ 1366 ‘, that is, one pole, three excellence, six initiative, and six fine brewing.”, Zhao Dong, chief engineer of Wuliangye Co., Ltd., said.

According to reports, “one pole” refers to the extremely complex and relatively extreme brewing process of Wuliangye; “Three excellence” refers to the three advantages of environment, old cellar and craftsmanship; “Six innovations” are the six original technologies of Wuliangye, including Wuliangye formula, baobaoqu, cellar circulation, boiling point water measurement, double bottom fermentation and blending; “Six fine brewing” refers to the six fine brewing processes of “selecting the best from the best, and selecting the best from the flowers”, namely, entering the cellar by layers, distilling by layers, picking wine by quantity and quality, mixing jars according to quality, and storing by grades.

With the support of exquisite craftsmanship, Wuliangye actively pursues high-quality development to better meet people’s needs for a better life.

According to the data, in 2021, Wuliangye effectively completed the main works of four continuation projects, including the capacity expansion project of hook liquor storage warehouse, the integration project of finished liquor packaging and intelligent storage, the supporting infrastructure construction project of Hongba new park, the transformation of special grain technology warehouse for brewing and milling automation project, which further promoted the improvement of effectiveness.

At present, Wuliangye is accelerating the construction of major projects. The first phase of the new 120000 ton ecological brewing project has been started, and a series of supporting projects such as flour milling, koji making, packaging and storage are orderly promoting relevant projects.

Wuliangye is confident about its future development. “During the 14th Five Year Plan period, Wuliangye will continue to maintain double-digit sustainable and steady growth and achieve the development goal of 100 billion by the end of the 14th five year plan,” said Zeng Congqin, Secretary of the Party committee and chairman of Wuliangye Group (Co., Ltd.). Around the development goal, Wuliangye will follow the five word formula of “planting, brewing, selecting, aging and blending” wine, We will make every effort to build Wuliangye with sustainable, steady and high-quality development of “ecology, quality, culture, number and sunshine”.

It can be seen that Wuliangye has achieved a good beginning of a new round of high-quality development, and the steady development in the future can be expected!

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