The decline of performance to increase the old cellar road in Luzhou where

Despite early psychological preparation, the Luzhou-cellar (000858) three quarterly results still disappointed the market. October 21 Evening released three quarterly report, the third quarter of Luzhou realized operating income of 1.137 billion yuan, down 60.81%, realize the ownership of the listed company's shareholders net profit of 286 million yuan, down 67.64%; basic earnings per share is 0.204 yuan. Luzhou, the same day the stock price fell 0.83%, closed at 16.71 yuan/share. The first three-quarter profit decline over 53% quarterly display, Luzhou old cellar January-September total income of 4.774 billion yuan, down 41.47%, to achieve the ownership of the listed company shareholders of the net profit of 1.247 billion yuan, the year-on-year decline of 53.92%. The first half of the revenue and net profit fell only 30.08% and 47.23%. In particular, company revenue and net profit fell 49.28% and 56.86% respectively in the first quarter, while the second-quarter decline narrowed to 4.54% and 30.88%. In the third quarter, the above two indicators as high as 60.81%, 67.64%. The fall was the sharpest. As you can see, third-quarter results are the biggest culprit in the first three quarters. In this respect, the company in the three quarterly reports are mainly subject to industry depth adjustment and the company's sales of product structure changes caused by the impact. At the same time, the liquor industry in the cold, but also to lack of institutional interest. In the third quarter, only one organization high view investment to the company for research, mainly to understand the company's situation. Although there are few institutions to investigate the company, the top ten current shareholders have shown that the institutions are still very optimistic about the company, fund companies and insurance companies occupy six seats. Among them, agricultural Bank of China-Great Wall peace of mind mixed securities investment funds and the National Social Security Fund 110 portfolio also increased the 1.9999 million shares and 1.73 million shares respectively. In the third quarterly bulletin, the company also responded to the loss of 150 million yuan deposits by ABC. Luzhou said the company will be on the matter in recent days to the Sichuan provincial high People's Court, this 150 million yuan in the three quarter do not do accounting treatment. Future processing of the matter will likely affect the company's fourth-quarter performance. High-end stop to the low-end force market speculation, the Luzhou old cellar performance may be the company's high-end product state cellar 1573 of the unsalable. At the end of July, the company announced a direct 1573 of the price of the national cellar, the intention to seize market share. After the price reduction, the National cellar 1573 sales appear to be improved, the company said the mid-Autumn Festival sales task has been completed. In the market for the National cellar 1573 full of anticipation, Luzhou old cellar but announced the end of 1573 of the supply of the State cellar. September 26, the company issued a notice to its distributors that the shutdown will be based on market regulation to confirm the resumption of supply time. The company also said that after the 1573 price reduction in the national cellar, the channel price confusion, the company will further rationalize the price and clean up the social inventory. According to the reporter understand, the state cellar 1573 is still in the stop goods. In this respect, Luzhou old cellar will turn its eyes to the low-end market. 109th, Luzhou old cellar in Chongqing sugar cocktail launched 7 "Lu Xiao two" forme products, this is following the introduction of the small wine brand "Lu Xiao two" last October after a comprehensive upgrade of its products. Company chairman Ming Xie has said that Luzhou will be based on market conditions to further adjust the product structure, there are currently not only 1573 and Tequ series, as well as the first song, Erqu, health wine, such as a series of brands. In the State cellar 1573 uncertain future situation, Luzhou old cellar to the low-end wine march, can reverse the decline? The financial investment Report will continue to pay attention.