WLY(SZ:000858)2024-05-24 10:37Industry Outlook - The industry continues to show steady growth, with a concentration of revenue and profit among leading brands and enterprises, indicating a trend of "the strong getting stronger" [1] - Structural growth is identified as the main theme for high-quality development in the industry [1] 2024 Business Goals - The company aims to maintain a balance between current growth and long-term development, seizing favorable opportunities to enhance stable growth [1] Brand Development - The company will focus on enhancing brand value and reputation through cultural initiatives and innovative storytelling [2] - Collaboration with national and international media will be deepened, and new communication methods targeting younger consumers will be adopted [2] Sales Strategy Product Development - The product system is structured as "1+3", including generational series, vintage series, ancient cellar series, and cultural custom series [2] - New products with varying alcohol content (39°, 45°, 52°, 68°) will be launched to meet diverse consumer preferences [2][3] Market Positioning - The company will strengthen the market position of its flagship products, particularly the eighth generation of Wuliangye, through precise market deployment and consumer cultivation [3] - The classic Wuliangye series will continue to serve as a core pillar for future growth, with new products targeting the high-end market [3] Consumption Scenarios - As economic consumption recovers, the company will optimize consumer and terminal rights to enhance banquet and business event experiences [4] Infrastructure and Innovation Ongoing Projects - A 100,000-ton ecological brewing project is underway, with phase one expected to start operations in December 2024 [4] - Various capacity enhancement projects are in progress, including automated grain processing and intelligent storage facilities [4] Technological Advancements - The company has maintained its leading position in technological innovation, achieving significant awards and publishing high-level research [4] Cost Management - The company has implemented comprehensive budget management, achieving a reduction in operating cost rate by 0.37 percentage points and management expense rate by 0.16 percentage points in 2023 [4] Dividend Policy - The company has distributed a total of 76 billion yuan in cash dividends since its listing, with a dividend rate exceeding 50% for eight consecutive years [5] - In 2023, the proposed dividend is 18.1 billion yuan, with a record high dividend rate of 60% [5]