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中国白酒在经历了十多年的粗犷发展后,在2012年年末碰上了政策和产品质量的双重壁垒。看似依旧繁荣的白酒品牌似乎正在逐步丧失继续繁荣的内在和外在动力,行业的拐点似乎近在咫尺。釜底抽薪2001年8月,贵州茅台挂牌上市,十多年后,其股价暴涨35倍!身价暴增的不仅仅是茅台,白酒板块的平均估值都增长了50倍,而国外高浓度烈性酒上市公司仅为10～15倍。在中国股市10年“零增长”的背景下,白酒行业交出了一份极为耀眼成绩单。
After more than a decade of rough development, Chinese liquor has encountered double barriers in policy and product quality at the end of 2012. The seemingly prosperous liquor brands seem to be gradually losing the internal and external motivation for continued prosperity. The turning point of the industry seems to be close at hand. In August 2001, Kweichow Moutai was listed on the stock market, and after more than a decade, its share price soared 35 times. The price increase was not only Maotai. The average valuation of the liquor sector has increased by 50 times, while foreign high-strength spirits went public. The company is only 10 to 15 times. In the context of 10 years of “zero growth” in China’s stock market, the liquor industry has delivered an extremely dazzling report card.