华致酒行(300755) - 2019年6月18日投资者关系活动记录表

Company Overview - Established in 2005, Huazhi Wine Chain Management Co., Ltd. is a leading premium wine marketing and service provider in China, focusing on "premium, authenticity, service, and innovation" [2] - The company has built a comprehensive marketing network including chain wine shops, Huazhi wine cellars, retail outlets, and e-commerce platforms [2] Market Demand for High-End Baijiu - Baijiu, a traditional Chinese liquor, has a strong cultural heritage and consumer base, with a shift from government and business consumption to personal consumption driven by the rise of the middle class [3] - According to Credit Suisse's 2015 Global Wealth Report, China's total household wealth reached $22.8 trillion, making it the second largest globally, with 109 million middle-class individuals [3] Wine Consumption Trends - Wine consumption in China is increasingly popular among younger consumers, particularly those aged 26-35 (49%) and 18-25 (34%) [3] - The demand for high-quality wine is rising as consumers prioritize brand and cultural attributes, leading to a growing market for premium wines [3] Impact of US-China Trade Tensions - The company imports the Mondavi series of wines from Constellation Brands, but the procurement amount is relatively small, resulting in minimal impact from the US-China trade tensions [3] - In 2018, the company established a partnership with Australia's Treasury Wine Estates to promote high-end wines in China [3] Collaboration with Treasury Wine Estates - The company has exclusive distribution rights for Penfolds Winery and Beaulieu Vineyard wines in China, with a focus on high-quality products [4] - Penfolds Winery is renowned in Australia, while Beaulieu Vineyard has a century-long history and has been selected for White House state dinners since 1940 [4]