综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Industries

Chinese liquor makers 'sober up' over bans

(Xinhua) Updated: 2012-11-20 09:53

BEIJING -- While China's high-end liquor makers are enjoying intoxicating profits, they face a frustrated stock market partly due to government vows to control official spending on banquets.

Stock dips swept the liquor sector listed on China's Shanghai and Shenzhen Stock Exchanges on Monday, sparing only a few.

Kweichow Moutai, Wuliangye and Luzhoulaojiao saw stocks tumble by 4.6, 5.8 and 6.1 percent respectively as of the end of trading.

Declines in other renowned liquor brands meant the sector suffered one of the biggest plummets seen in China's stock market on Monday.

The net profits of Kweichow Moutai surged 106.05 percent year-on-year to reach 3.42 billion yuan ($543.41 million) in the third quarter of 2012.

Wuliangye Group, a major competitor of Moutai, also recorded a net profit increase of nearly 90 percent in the third quarter, which the company attributed to price hikes and strong sales.

However, Moutai has gone through a string of price drops this year that have taken its average bottle price to around 1,500 yuan from about 2,300 yuan at the beginning of 2012.

It is said that Moutai's inventory has topped 20,000 tonnes. Industry insiders believe that unconfirmed information moved some dealers to lower prices in order to destock and cash in.

Moutai's wholesale price may drop below 1,200 yuan by next May or June, Tie Li, an liquor expert told Securities Daily.

A dealer in downtown Beijing, who declined to be identified, said that government restrictions on official consumption of high-end liquor have dampened sales.

Amid downturn worries, Chinese liquor makers tend to spend hundreds of millions on commercials to woo more hard-to-please drinkers.

Moutai spent 352 million yuan and Wuliangye 499 million to seize ad slots before flagship evening news shows when bidding opened on Sunday for right to advertise on CCTV, China's state-run television, in 2013.

Moutai, Wuliangye, Jiannanchun and Fenjiu spent a total of 1.72 billion yuan for commercials on CCTV in the bidding.

Hot Topics

Editor's Picks
...
辛集市| 政和县| 黄龙县| 东港市| 左云县| 子洲县| 高阳县| 阿勒泰市| 金门县| 凤庆县| 云梦县| 富平县| 广平县| 舟山市| 阿坝县| 马龙县| 金乡县| 上林县| 三原县| 泸溪县| 凤庆县| 蒙山县| 新建县| 丹江口市| 和平县| 东港市| 界首市| 洮南市| 武城县| 湖州市| 贵定县| 达日县| 邳州市| 贺州市| 凤城市| 青龙| 彭山县| 富川| 尤溪县| 健康| 丹东市|