李保芳回应茅台增速放缓:基础工作才是未来发展后劲

发布时间: 2019-07-17 来源: 21世纪经济报道 栏目: 娱乐新闻 点击:

李保芳回应茅台增速放缓:千亿之后何处去怎么去基础工作才是未来发展后劲李保芳强调,要围绕“千亿”之后,考虑清楚茅台要往“何...

李保芳回应茅台增速放缓:千亿之后何处去怎么去 基础工作才是未来发展后劲

李保芳强调,要围绕“千亿”之后,考虑清楚茅台要往“何处去,怎么去”的问题。

“最近几年,茅台实际上都在超负荷运转,如果再用百米冲刺的速度,去跑五百米、一千米肯定不行。因此,我们不要在意今后社会上出现‘茅台速度降了’、‘茅台后劲不足’之类的评价,只要真正把基础工作抓好了,就是茅台未来发展的后劲?!?月15日,连续开了一整天的茅台集团上半年生产经营情况汇报会上,茅台集团党委书记、董事长李保芳说。

7月13日,贵州茅台(600519.Sh)发布上半年主要经营数据公告,经初步核算,该公司上半年实现营业收入412亿元,同比增长16.9%,归属于上市公司股东的净利润为199亿元,同比增长26.2%。

上半年业绩同比增速放缓

和去年上半年贵州茅台营收和净利润实现38%和40%的增长速度相比,今年该公司的业绩增速放缓。今年一季度,贵州茅台的营收为216亿元同比增长24%,归属于上市公司股东的净利润为112亿元,同比增长32%。由此可以算出,第二季度营业收入不足200亿元,净利润为87亿元。

对于贵州茅台的中报业绩“降速”,川财证券分析师欧阳宇剑分析,一是由于公司取消经销商所对应的6000吨茅台酒配额尚未投放;二是目前直营渠道尚未明显放量,非标准化产品的放量成为第二季度利润弹性来源。北京格雷资产管理中心副总经理、合伙人杜可君和东莞证券分析师均认为,600吨茅台酒配额尚未重新投放,是贵州茅台二季度业绩增长放缓的主要因素。但该公司批价及终端零售价一路上行,销量仍处于供不应求的态势。长城证券分析师也认为贵州茅台在6月下旬放量2000吨茅台酒后,市场价格并没有明显回落,一周内回落100元左右,然后又回到2000元以上,说明产品需求旺盛,行业基本面良好。

国泰君安食品饮料团队訾猛、马铮经过测算后,认为经销商打款充足,贵州茅台的半年报营业收入却只释放了16.9%的增长,从已收款角度来说完全有能力做到20%,甚至30%的增长。但是,贵州茅台释放业绩需要平衡下半年的业绩,按照全年收入增长14%的年初目标,如果第二季度继续释放20%以上的目标增长,则下半年将出现低于15%的季度增长,届时股价处于更高位置,贵州茅台的预期管理将更加被动。

值得一提的是,同期发布的东阿阿胶(000423.SZ)业绩预告的曝雷被业内人士视为消费品行业值得吸取的一个教训。7月14日晚间,东阿阿胶发布公告,预计上半年盈利1.8亿元至2.1亿元之间,同比下滑75%至79%。在贵州茅台业绩增长放缓和东阿阿胶业绩出现大幅下滑之间,有人担心贵州茅台会不会是下一个阿胶?半年报盈利数据是否将成为考验消费行业走势的试金石?

有媒体观察人士分析,东阿阿胶的多次提价和高库存是其利润下滑的主因,就贵州茅台来看,厂家对茅台酒提价慎之又慎,并在积极开展打击囤货的黄牛党行为,两者区别很大。

茅台要理性发展

但对茅台集团来说,业绩的主要指标保持“两位数”的高增长,意味着该集团延续了近三年来稳中有进、进中向好的发展势头,圆满实现时间任务“双过半”。2015年,茅台集团的销售收入419亿元到去年的859亿元,翻了一倍。

除了贵州茅台的双位数增长外,茅台集团旗下的控股子公司习酒有限责任公司上半年完成销售收入41亿元,同比增长41%;昌黎葡萄酒业有限公司半年销售收入首次破亿元,同比增长超过85%,利润同比增长超过3.5倍。贵州遵义茅台机场有限责任公司拥有的茅台机场旅客和货邮吞吐量增长势头强劲,跻身贵州省第三大主力机场。

“茅台的主要指标,无论是在贵州的企业还是中国的企业中,这个增长都可以说是高速了,而且还是持续的高速增长?!崩畋7疾隽嗣┨叛有己梅⒄故仆返母驹颍阂皇羌乓患径人忱迪帧翱藕臁?,为完成“双过半”打下基??;二是密集调研解决困难子公司难题,大力啃“硬骨头”;三是理顺和完善茅台酒营销体制成为上半年最重要、最压头的工作,已初见成效。除400多家违规的茅台酒经销商被取缔经销商资格外,今年4月,贵州茅台委托贵州省招标有限公司进行了茅台酒首批全国商超、卖场公开招商,在全国和贵州当地招商3家,在商场和卖场供货400吨和200吨飞天茅台酒。

在李保芳看来,基础工作才是茅台未来发展的后劲?!懊┨ㄒ硇苑⒄?,必须以事实说话,用业绩作答,必须心无旁骛,埋头苦干,善做善成,不可任性?!?。他认为,今年茅台集团要实现千亿目标,要坚持“能快则快、不设上限,不留余地,不留退路?!泵┨琶髂瓴痪窒抻诩苹副?,原则上既要保持适度增长,又要留有适当余地,不做超负荷计划,不搞不切实际的“假大空、高大上?!?/p>

具体而言,茅台集团总经理李静仁指出,要继续理顺和完善茅台酒的营销体系,推动集团和贵州茅台营销体系错位发展,互为补充;集中开展茅台酒“黄牛党”专项治理,系列酒销量要完成3万吨,实现百亿元营收和26亿元的利润目标。

在推动子公司平衡协调发展上,李保芳指出,对微利、亏损、僵尸子企业的清理要确保年底前,56家全部清理完毕。技开公司、保健酒公司等,所有的茅台子公司,都不是脆弱的企业,要增强自身应对市场的能力。21世纪经济报道记者注意到,在上半年生产经营情况汇报会上公布的茅台集团463亿元营收中,除去贵州茅台、习酒公司和葡萄酒公司的上半年营收,其余子公司的营收加起来尚不足10亿元,体量太小。

对于需要深入研究的长远性课题,李保芳强调,要围绕“千亿”之后,考虑清楚茅台要往“何处去,怎么去”的问题,同时,通过项目和“文化茅台”建设,把茅台软实力推到新的高度。

本文标题: 李保芳回应茅台增速放缓:基础工作才是未来发展后劲
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