The third quarter is closely watched as the halfway point of the year, and observers adjust their forecasts for the full year. So, what about the overall performance of the three quarterly reports this year?

According to wind data, among the A-share listed companies that have been announced, 2,472 individual stocks have achieved year-on-year operating profit growth, accounting for about 46%; Only 1,240 suffered losses, accounting for about 23%. It can be seen that the overall A-share performance is stable, but some enterprises have suffered losses and slowed down because of ineffective response to environmental changes.

At present, 19 liquor listed companies have announced three quarterly reports, there are 6 revenue has shown negative growth, 7 net profit has shown negative growth. It accounts for about one-third of the total, which means that most listed wine companies show a positive growth trend.

Specifically, from the perspective of revenue, there are 7 companies with year-on-year growth of more than 10%, and 9 companies with year-on-year growth of less than 5%. The highest increase in revenue was Gujing Gong wine, which reached 19.53%. This was followed by the present destiny, which reached 18.86%.

It is worth noting that some liquor enterprises continued their rapid growth in the first three quarters of this year. According to statistics, among the 19 listed enterprises, the revenue increase of more than 15% is a total of 5 enterprises, respectively, Guizhou Moutai, Shanxi Fen wine, Gujing Gong wine, Jinshi Yuan, Jinhui wine.

However, even these top companies, their current growth momentum is still difficult than before. The industry believes that this is due to the change in scale, it is difficult to maintain a high growth rate in the case of a substantial increase in volume; Second, the industry is experiencing an unprecedented situation, from the past overall rise into the stock or even shrinkage stage, such an external environment undoubtedly affects the growth rate of enterprises.

On the one hand, the growth rate is slowing down, and on the other hand, the enterprise is accelerating the transformation.

In terms of revenue scale, in the first three quarters of this year, there have been five liquor companies with revenue of more than 20 billion yuan, which was unthinkable in the past, but it also shows the rapid development of the trend of industry concentration today. At the same time, most of these five companies also maintain double-digit revenue growth results.

There are also four liquor enterprises with a net profit of more than 10 billion yuan, which not only shows the enhancement of profitability of famous wine enterprises, but also shows the fact that profits are accelerating to famous wine enterprises and first-line enterprises to a certain extent.

"The overall consumption demand for liquor has changed." Some people in the industry believe that the first is the overall downturn in consumer demand, affecting the wine enterprises; Second, due to the diversification of consumer demand, the share that originally belonged to liquor was divided.

Further refinement, due to the influence of branding, the consumption share of some local brands is now concentrated on famous wines, which also leads to the differentiation and concentration of the industry.

So, which direction should the future enterprise transformation go?

"I'm afraid that for most companies, they need to change their expansionary thinking and seek competition in the stock market." Wine industry expert Mafei believes that under the brand, there is the trend of personalized consumption change, for local wine companies, the era of winning by quantity has passed, in the case of brand power is not as good as the first-line liquor, seeking winning points in several dimensions such as quality, taste, culture, so as to maintain and explore their own competitiveness.

From 2016 to 2023, China's liquor production capacity has dropped from 13 million liters to 6 million liters. Will this downward trend continue? The industry is also hard to answer.

However, even if the current production capacity and consumption power are maintained, for most enterprises, they still need to actively seek to grasp the needs of consumers in the limited market space, so as to guide them and accelerate their own transformation.