Our reporter Xu Jie

2020 is destined to be an extraordinary year. All industries have experienced the test of the epidemic. At the same time, the epidemic has also become an accelerator for industry reshuffle. As a major fast-moving consumer goods industry, the beer industry is also facing a major change in the industry.

On November 18, China Resources Snow Beer ushered in the first national channel partner conference in history. Distributors from all over the country gathered in Shenzhen to discuss the theme of "Gathering together high-end, creating a dream future" Next, *** shared the present and future of China Resources Snowflake. This "debut" not only allowed the outside world to see the changing China Resources Snowflake, but also sent a signal that the beer industry, which has been dormant for many years, will no longer be lonely.

Expand the awareness of high-end beer companies

Data show that from January to October 2020, the cumulative output of beer companies above designated size nationwide was 29.962 million liters, a year-on-year decrease of 7.5% %. Among them, the national beer production in October was 1.876 million liters, a year-on-year decrease of 11.3%.

If we only look at the production data, it is an indisputable fact that the output of the beer industry overall shrank during the year. But from an individual perspective, the situation is quite different. Although Tsingtao Beer's sales declined in the first three quarters of this year, its net profit increased year-on-year. Although China Resources Snow did not announce its third quarter report, its beer sales in the first half of the year also declined year-on-year, but its net profit increased year-on-year. Net profit increased significantly.

According to the 2020 semi-annual report data released by China Resources Snow, in the first half of this year, China Resources Snow’s overall beer sales were 6.039 million liters, a decrease of 5.3% compared with the same period last year; however, the company’s net profit increased compared with the same period last year. 11.1%, and the three indicators of sales, revenue, and profit in the second quarter all hit record highs.

The decline in revenue of leading beer companies but the year-on-year increase in net profit demonstrates that the beer industry has begun to move from an era of large-scale development to an era of high-quality development, and growing high-end has become the main goal of beer companies . As a leading company in the domestic beer industry, China Resources Snow's performance changes basically represent the future development direction of the industry. Focusing on high-end and decisively fighting for high-end is not only what China Resources Snow needs to do and is doing, but focusing on high-end has become the priority of beer companies. *knowledge.

Regarding the changes in the beer industry, Qin Shuyao, Secretary-General of the China Circulation Association, believes that these two years are critical years for domestic beer and an important period of watershed for enterprises.

Qin Shuyao told a reporter from Securities Daily, “High-endization will lead to an increase in product concentration, and the efficiency, profits, and scale of enterprises will also expand rapidly. If anyone falls behind half a step behind at this time, the result may be One step down and ten steps down. The development of the beer industry in the past two years is a bit like that of liquor. With the collective strength of 28,000 employees, China Resources Snow will definitely see great changes in its future development."

Secretary-General of the China Liquor Industry Association. He Yong, chairman of the Beer Branch, also said in an interview with a reporter from Securities Daily that the beer industry will usher in a big change.

In the past, beer in China was called "industrial beer". Beer was sold as a drink, but the price was not as high as the price of a drink or even a bottle of water. Today, catalyzed by consumption upgrades, the beer industry has also ushered in a period of "high-end" transformation.

In He Yong’s view, the beer industry can be divided into two stages of development. Among them, the 1.0 stage is for "drinking full"; in the 2.0 era, "good drink" and "drinking well" have become the pursuit of most consumers. This situation will have a great impact on beer companies and the entire industry.

"Securities Daily" reporter learned that the market share of the top five domestic beers exceeds 85%. As domestic beers continue to move towards high-end, will the ranking of domestic beer companies be rewritten?

He Yong’s judgment is that consumers are pursuing higher and higher taste and quality, and the beer industry is therefore facing major development opportunities. "Our beer companies should value the opportunities of relatively high-end marketization, as well as the earth-shaking changes and transformation capabilities brought to China's beer industry. Whoever has the ability to transform this market will take the lead."

China Resources Snow wants to be the leader in the industry

Looking at the domestic beer industry, although there have been some domestic high-end beers before, overall, the market share of domestic high-end beers has always been controlled by foreign brands. Domestic beer companies are living a very difficult life. However, as China Resources Snow and other leading liquor companies develop their efforts in the high-end market, the market structure is slowly changing.

"In the past three years, we have done what we have been doing for five years. This year is the first year of the launch of China Resources Snow's high-end strategy. In the most difficult time of the industry, we together created the best performance in history. . At the current historical intersection from the 13th Five-Year Plan to the 14th Five-Year Plan, China Resources Snow will embark on a bigger dream, which requires everyone to work together, imagine and open up together." Secretary of the Party Committee and General Manager of China Resources Snow. Hou Xiaohai said confidently at the first National Channel Partner Conference, “By 2025, China Resources Snow Beer’s high-end market, profits and market value will surpass its current opponents.

”

At the Shenzhen International Convention and Exhibition Center, four major Chinese brands including Super

The "Securities Daily" reporter learned that as the helm of China Resources Snowflake, Hou Xiaohai's confidence comes not only from the accuracy of strategic positioning, but also from the test of actual combat on the front line. . 2020 is the first year for China Resources Snow to compete in the high-end market. Although it was also affected by the epidemic, it still achieved the best report card in history. This report card is a mirror of the implementation of China Resources Snow’s strategy.

2020 is the beginning of the second "3 years" of China Resources Snow's "3 (2017-2019) + 3 (2020-2022) + 3 (2023-2025)" strategy. The task at this stage is to "fight for the high end." "Improve quality" and "increase efficiency."

Hou Xiaohai said: "At this time last year, we may have felt that our high-end capabilities were not strong, and that our main competitors had very strong high-end capabilities. But today, all Snowflake people believe that our high-end capabilities are also very strong, and our opponents may not be that strong. We have accumulated Snowflake's unique methods, concepts and tools in the organization, talent, channels, terminal development and other aspects of high-end products. ”

According to the announcement issued by China Resources Snow Beer, from January to September 2020, the comprehensive profit attributable to the company’s shareholders was approximately 3.65 billion yuan. After the net profit in the first half of the year exceeded that of Budweiser Asia Pacific, China Resources Snow Beer The comprehensive profit in the first three quarters once again exceeded that of Tsingtao Beer, and it has ranked first in sales for 14 consecutive years.

After acquiring Heineken China last year, China Resources Snow launched a new product "Heineken Star Silver" in May this year. " has also been recognized by consumers after its launch. With the further advancement of the "4+4" strategy, other Heineken products will also be launched in the second half of the year.

President of Heineken Management (Shanghai) Co., Ltd. Richard Weissend said that the Heineken brand has also experienced magnificent growth this year and will achieve the highest sales volume since its launch in China. Next, Heineken's AMSTEL and Edelweiss will also be introduced to the Chinese market. .

This partner conference brought together thousands of people to gather momentum for the future development of China Resources Snow. As the most delicate and critical manufacturer relationship in the wine industry, China Resources Snow has also found a solution. , the company has set up a channel development department to empower dealers.

All the potential is approaching China Resources Snow. Hou Xiaohai said at the conference that at this time, China Resources Snow is in the right position to fight for the high end. On the other hand, we will accumulate momentum and take advantage of the trend to surpass our opponents in high-end fields and profits, and become a leading enterprise in the beer industry. "

Regarding the overall performance of China Resources Snow, He Yong said that as the largest beer brand in China, China Resources Snow has a strong sense of national self-esteem and quality confidence. Based on these two points, I am very optimistic about China Resources The future development of Snowflake. “On the road to high-end development, it is not difficult for the public to understand China Resources Snowflake. It is feasible for the elephant to turn around, and it can also turn around very quickly. ”

After the China Resources Snow Beer National Partner Conference, the stock price of China Resources Snow Beer also continued to rise, hitting a record high price of HK$59.65 per share, with a market value of nearly HK$200 billion.