Yanjing Beer today raised the most significant or up to 18%

"Daily economic news" reporter recently learned from a Beijing distributor, yanjing beer (000729, closing price of 18.82 Yuan) has given the major distributors to give notice of the increase, from January 18, 2011 onwards, Beijing, each box price increase of more than 3.3 yuan, ordinary products 10 degrees yanjing refreshing,　　Yanjing native per bottle ex-factory price to improve about 16%~18%. The news was also confirmed by a private-equity insider and an analyst at a public company brokerage. "There is no particularly accurate statement, but the company is generally the first in Beijing to raise prices, other areas based on the situation later, the estimated increase in the average of more than 10%."　　"Private-equity sources said to reporters. Low season price increase coverage cost yanjing beer seems to favor the off-season price increase, as early as January 2010, the company also raised ex-factory products, at that time, ordinary products 10 degrees yanjing refreshing, yanjing per bottle ex-factory prices to increase about 1.62 yuan, or about 14%.　　The reason for the price increase, the company said, coal, electricity, petrol, diesel and other energy prices have increased transport costs, in addition, as the beer raw material prices of rice also increased operating costs.　　In the 2010, global agricultural prices continued to rise, one of the main costs of beer, barley prices are significantly higher, resulting in the beer industry's overall cost pressure surges. China Merchants Securities in a study of yanjing beer, pointed out that in order to cope with rising costs, the first quarter of the off-season is the best price point, the early Snow beer general manager of the media, snowflakes will raise the price of 10%. It is reported that the dominant products in Beijing, Yan Beer is expected to sharply raise prices, other areas of the company is expected to raise prices.　　Yanjing Beer Implementation of focus strategy, in Beijing, Guangxi, Inner Mongolia to obtain more than 80% of the market share, firmly control the end of the market, price increases on the impact of small sales. The private-equity figures also acknowledged the price hikes of yanjing beer. He believes that although the impact of higher prices of agricultural products, but the industry has a key point is that the rise in raw materials is unsustainable, unlike other agricultural products. Barley is determined by supply and demand, the global total demand is almost not growing, the developed regions in Europe and the United States are even backward, so now price increases, the future can enjoy the benefits of lower costs. Unlike many other agricultural products downstream, the cost is long-term upward, China's beer production growth is also unhappy, now the industry into the finishing phase of accelerated integration.　　So the pricing power of the next few giants, whether on the product or upstream, will be strengthened. However, when asked about the price increase, the listed companies did not respond.　　Brokerage analysts said the price could not be announced, and according to his understanding, yanjing beer does not seem willing to carry out announcements. The company has a strong incentive to release performance in October 2010, yanjing Beer successfully issued a 1.13 billion-yuan convertible bond, the price of conversion to 21.86 yuan/share.　　April 15 this year, yanjing transfer of debt will enter the swap period, the industry judge, the company has a strong incentive to release performance. Yanjing transfer debt trigger the price of the shares, is the share price reached 28.42 yuan (21.86 Yuan x130%), and the early realization of the company's target, the share of major shareholders will be clearly transferred to the shares, so the company has the power to enhance profitability, strengthen cost control. The private-equity figures said 2010 Yanjing beer prices did not carry out the control of goods, this is because the price is still lower than green beer and other similar enterprises, so the increase in the company's 2010-year performance promotion has not fully appeared, and in 2011, the company will start to control the goods, the superposition effect will be significantly increased price,　　Make 2011 years of performance is expected to maintain rapid growth. In addition, in terms of capacity expansion, the management plan "Twelve-Five" period new production capacity of 3 million tons, of which 1 million tons from the acquisition. The company issued a convertible bond in 2010, raised 1.13 billion yuan to carry out 600,000 tons of new beer production capacity expansion, has been successfully put into production.　　2010 's two acquisitions-Henan Yushan Beer and Inner Mongolia Jinchuan Beer also fully reflect the company's expanding market share and the active operation of new markets. CITIC Securities and China Merchants Securities have given the profit forecast of Yanjing beer, the former is expected to 2010 ~2012 earnings per share of 0.66 yuan, 0.9 yuan and 1.1 yuan, the latter forecast for 0.65 yuan, 0.85 yuan and 1.07 yuan, two securities companies have given 27 yuan and 26 yuan target price respectively. Industry insiders said as a fast-moving consumer goods company, Yanjing is currently trading at about 20 times times its share price, with the lowest valuations among FMCG companies, and taking into account a "safety cushion" of 21.86 yuan in price, so the company has long-term investment value that investors can pay attention to.