Where is the industrial finance road of Maotai?

Where is the industrial finance road of Maotai?

Kweichow Moutai has generated less than 40 million RMB from more than 80 billion RMB without any loans. In fact, Kweichow Moutai has been quite abundant in cash flow because of its super profitability, but the funds have been idle for a long time. Previously, the company had set up a finance company to manage cash.

Compared with Apple's cash reserves, in the fourth quarter of 20 17, Apple's cash reserves reached 28.51billion dollars (about10.8 trillion yuan), a record high, while the company's cash reserves in the last quarter were 268.9 billion dollars (about/kloc-0.7 trillion yuan).

Maotai's cash reserves are really dwarfed! So don't worry about Maotai's spare money any more.

In fact, their future investments are essentially different:

Kweichow Moutai Distillery (Group) Co., Ltd., the parent company of Kweichow Moutai, will invest to set up a financial business entity spanning loan, insurance and asset management, making finance the second largest business pillar.

Generally speaking, if the company has abundant cash flow, it will often choose to purchase wealth management products and bonds to realize the preservation and appreciation of cash assets. The financial expenses in financial statements mainly include deposit and loan interest and related expenses, in addition to exchange gains. If a company's financial expenses are negative, it means that the company's cash flow is relatively abundant. The greater the negative number, the stronger the ability of cash preservation and appreciation.

On August 27th, 20001year, Kweichow Moutai, which started from Kweichow Moutai Town, landed on the A-share market, and soon became famous for its super profitability and abundant cash. Therefore, in the 17 years since its listing, the company has not raised RMB 2.04 billion for the first time, and has not refinanced through rights issue, fixed income increase and bond issuance.

In 20 12, Kweichow Moutai invested 408 million yuan to establish Kweichow Moutai Group Finance Company with its parent company, wholly-owned subsidiary Xijiu and Kweichow Maotai Distillery Group Technology Development Company, and Kweichow Moutai Holdings 5 1%, in an attempt to improve the efficiency of the company's capital use.

With abundant funds and a huge amount of long-term idle funds, Kweichow Moutai will build a financial industry and improve the efficiency of capital use. For example, asset management companies and small loan companies. Of course, you can also enter banking, securities, insurance, trust and other industries.

By the end of 20 16, the company had 30 wholly-owned subsidiaries and holding companies and 2/kloc-0 joint-stock companies, covering liquor, wine, securities, insurance, banking, property, scientific research, tourism, real estate and other industries.

Maotai Group will invest in establishing a financial business entity spanning loan, insurance and asset management, hoping to create a new growth field and make finance the second largest business pillar of Maotai. The new financial business will integrate the Group's existing businesses in these areas, accounting for about 65,438+05% of the total revenue by 2020.

The amazing cash reserves in Apple's financial statements are increasing year by year. It can also be considered that Apple's assets have not been well utilized, the company's decision-makers have not found better investment projects, or the United States has limited ability to spend enough money on research and development, unable to launch new innovative products and find new business growth points, resulting in nowhere to spend money. However, Apple also has its own considerations and logic. Although Apple has a high cash reserve, it has invested too little in R&D and invested in new product research and development, which is not in line with the general investment logic. From the general investment logic, a large sum of money plus interest is definitely better than making it a best-selling product on the production line. Apple's high cash reserves are more passive based on US tax policy. Apple has been able to earn enough money only by relying on the existing smart phone software and hardware business, and the motivation to spend money to explore those unknown areas full of risks is insufficient. But then again, whether Apple can be so profitable in the future depends largely on whether the company can produce excellent products as before in the next few years. Apple is often under pressure to provide shareholders with more cash, higher dividends and more share repurchases, and has spent about $200 billion on this. Returning all cash to shareholders is "not conducive to anyone's strategic interests", and Apple needs to find ways to diversify its business.

It can be seen that it is not so simple for enterprises that win in the industry to enter the industrial financial market! Maotai's industrial finance road must be an investment based on making up for the shortcomings of the industry.

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