Photo: Fenjiu

Shanxi Fenjiu Group released its main financial data for 2021 and its business report of the first quarter of 2022 on April 11. In 2021, the company achieved a revenue of 20 billion yuan ($2.9 billion), up 42.75 percent year on year. Net profit reached 5.314 billion yuan, up 72.56 percent year on year.

In the first quarter of 2022, the company is expected to achieve total operating revenue of 10.5 billion yuan, up about 43 percent year on year. Net profit is expected to reach about 3.7 billion yuan, up about 70 percent year on year.

With a revenue scale of nearly 20 billion yuan and a profit growth rate of 72.56 percent, Fenjiu has clearly entered a new era, an era marked by the rise of Fenjiu's rejuvenation. From the whole year of 2021 to the first quarter of 2022, the growth of Fenjiu has been stable, high speed and efficiency.

Yuan Qingmao analyzed that in recent years, with the expansion of China's middle- income group, the sales of middle and high-end liquor have been further expanded, while the blue and white series featured by Fenjiu is in the middle- and high-end price segment.

"At present, famous liquor enterprises are actively in the layout of the high-end field, this is our Red Sea Market fight, so the high-end price position is that we must be focusing on and standing up to. It is not only our lifeline, but also the position that we cannot lose and cannot afford to lose."