KWEICHOW MOUTAI(SH:600519) Xin Hua Wang·2025-08-12 05:54Core Viewpoint - Guizhou Moutai's performance in the first half of 2023 shows strong growth, with total revenue expected to reach approximately 70.6 billion yuan, reflecting an 18.8% year-on-year increase, and a net profit of around 35.6 billion yuan, up 19.5% year-on-year [1][2]. Financial Performance - In the first half of 2023, Guizhou Moutai's revenue from Moutai liquor is expected to be about 59.1 billion yuan, while revenue from series liquor is projected at 9.9 billion yuan [1]. - The company's 2023 revenue target is set at approximately 146.7 billion yuan, aiming for a 15% year-on-year growth, which aligns with the current half-year performance [2]. Market Expansion - Guizhou Moutai is actively exploring new markets, with products now exported to 64 countries and regions, indicating a commitment to internationalization [3]. - The company plans to develop new channels, products, pricing strategies, and communication methods as part of its international strategy, aiming for a distinctive international path by 2025 [3]. Product Diversification - Guizhou Moutai has applied for the trademark "Moutai Coffee," indicating an entry into the coffee market, which is part of a broader strategy to attract younger consumers [3]. - The company has introduced coffee products through a mini-program, with prices ranging from 28 yuan to 42 yuan per cup, allowing for the addition of Moutai liquor [3]. Industry Trends - The coffee market in China is projected to grow from 381.7 billion yuan in 2021 to 617.8 billion yuan in 2023, with a compound annual growth rate of 27.2% [4]. - The new-style tea drink market is expected to reach 374.9 billion yuan by 2025, while the low-alcohol beverage market is anticipated to exceed 100 billion yuan in the future [4]. - The entry of Guizhou Moutai into these markets aims to capture a larger share of the younger demographic, aligning with current consumer trends [4].