国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Dinner ban

Chinese liquor makers 'sober up' over bans

(Xinhua) Updated: 2012-11-21 10:36

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 tons. 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
...
峨眉山市| 麦盖提县| 绥芬河市| 福安市| 文昌市| 遂川县| 嘉兴市| 冀州市| 聂荣县| 肥城市| 娄烦县| 景洪市| 姜堰市| 静宁县| 从江县| 凤阳县| 鹤庆县| 嘉祥县| 佛教| 梓潼县| 黑河市| 天柱县| 哈尔滨市| 仁怀市| 大安市| 惠东县| 深州市| 广丰县| 华阴市| 辉南县| 来凤县| 华亭县| 长子县| 社旗县| 达孜县| 五台县| 东平县| 遂宁市| 邮箱| 繁昌县| 烟台市|