Large Consumer Enterprises Quarterly Scan: Five Key Industries Over 6 Into Losses, Business Super Trend Growth

As a result of the impact of the epidemic, consumption as one of the three carriages of China's economy has become the "most hurting" area.

In the first quarter, the per capita consumption expenditure of the whole country decreased by 12.5%, and the final consumption expenditure pushed the GDP down by 4.4 percentage points.

With the quarterly closing of A shares, the twenty-first Century economic news reporter selected a quarterly report on tourism and leisure as the 5 major consumer industries and a total of 137 companies as a sample to restore the survival situation of large consumer enterprises under the epidemic situation.

Airlines suffer the biggest losses

Whether in terms of macro data or micro data, the first quarter is the darkest hour for the big consumer sector.

The study found that among the 137 listed companies in the big consumption areas, 87 were in a loss, accounting for 63.5%, and 65 companies had lost their profits from the same period last year to the first quarter.

Subdivision, 30 tourism and leisure enterprises, 26 loss, 3 pre reduction, 1 losses; 26 automobile enterprises, 14 loss, 2 loss, 3 increase, 7 pre reduction; 19 film and television enterprises, 14 loss, 14 home loss, the increase in the number of households, the home of the beholder;

The most serious losses are concentrated in the aviation field. The epidemic led to a drop in the number of passengers in the air division, especially in February, when the number of three passengers dropped by over 80%. HNA holdings lost 6 billion 290 million yuan in the first quarter, China Southern Airlines lost 5 billion 260 million yuan, China Airlines lost 4 billion 800 million yuan and Eastern Airlines lost 3 billion 930 million yuan.

Tourism also suffered heavy losses. In the first quarter, 17 of the 30 enterprises changed from profit to loss. Due to the suspension of the travel agency business and the limited business of the scenic and hotel businesses, the leading tourist group lost 198 million yuan in the first quarter, while the China travel service, which was mainly duty-free business, lost 120 million yuan in the first quarter due to a sharp decline in its tourist resources.

The impact of the film and TV industry is quite similar to that of the tourism industry. 10 of the 19 enterprises are surplus to deficit. Among them, the first loss of Wanda film in the first quarter, the loss amounted to 600 million yuan. As far as the cinema is concerned, more than 600 domestic studios in Wanda have been suspended since January 23rd, and the time for resuming business has not yet been determined. In terms of film and television production, the films such as "Chinatown detective 3", which were mainly invested by the company, failed to be released as scheduled.

It is noteworthy that there are many bright spots in the film and television industry. The three companies, including Huan Rui century, Hua Lu Bo Na and Hua CE film and television company, have achieved first quarter growth. Hua TSE can be described as a "black horse", because its TV play business accounted for more than 7 of the total, less affected by the epidemic, net profit of 110 million, an increase of 205% over the same period.

The retail industry was divided, and the department stores dominated the company in the first quarter without any exception. Their performance declined or even lost.

Yonghui supermarket, which is mainly based on super business, has a net profit of 1 billion 567 million yuan in the first quarter, due to the consumption of just needed consumption, an increase of 39.5% over the same period last year. In addition, Jia Jia Yue, Hualian chao chao and Xinhua have similar growth.

In the automotive industry, SAIC, the leader of the automobile industry, seems unable to cope with the gloomy situation of the domestic car market in the first quarter. Its first quarter operating income and net profit attributable to shareholders of listed companies fell by 48.35% and 86.42% respectively. But the auto industry is relatively optimistic, with nearly half of the 26 enterprises making profits.

When recovery is proceeding

Although the industry was in a difficult position in the first quarter, the most difficult time has passed since the domestic epidemic eased.

In fact, the macro data in March have been warmer. In March, it dropped by 15.8%, narrowing by 4.7 percentage points compared with 1-2. Among them, the consumption of residents must be steady, and grain, oil, food, beverages, Chinese and Western medicines and so on maintained a positive growth.

At the level of listed companies, the refinancing policy issued by the SFC played a role. For example, in the film and TV industry with tight cash flow, including Wanda movies, Huayi Brothers and contemporary Orient, they have issued refinancing plans, aiming to repay bank loans and supplement the flow.

A senior investor in Shanghai told reporters that the increase in the number of fixed cases reflects the current market predicament. Ding Zeng is one of the few listed companies that can obtain capital at lower cost. "

But for more consumer industries, money is not the top issue. "Once the normal operation of the consumer industry, cash flow is not a problem, it is difficult to restore consumer confidence." Hubei a retail listed company secretaries told reporters.

In order to stimulate consumption, various regions have introduced measures to expand consumption, such as the issuance of consumer coupons, which is an important measure to boost consumption through subsidies. According to the Hangzhou Finance Bureau, the first batch of consumer coupons has a 2.06 fold effect on the business sector.

In the automotive industry, the country once again launched a policy combination to extend the subsidy policy for new energy vehicles to the end of 2022, and encouraged the development of auto consumer credit business.

Tourism industry also started to save themselves. For example, in April 3rd, the Wulingyuan scenic spot in Zhangjiajie announced that there was no quantity restriction for the whole country to issue vouchers. Zhongxin tourism has set up cooperation with the national travel agencies, and has launched differentiated tourism products for different provinces and cities.

The demand for travel suppressed by the epidemic is also gradually breaking out. In April 29th, Beijing announced that the level of public health emergency response was transferred to level two, which means that the low risk areas in China travel to Beijing and return to Beijing, and no longer require home quarantine for 14 days. On the second day, the aviation sector began to exert its strength, and China Airlines's daily trading rose.

"Judging from the current epidemic control situation, although retaliatory consumption is generally considered not to come, consumption recovery is a deterministic event, only a matter of industry and time." A strategy analyst said.

At present, the retail industry has gradually recovered with the help of electricity providers and online platforms. The auto industry is expected to rebound in the two quarter, along with the resumption of car industry and the stimulation of policies. According to the insiders, "although the aviation industry suffered heavy losses in the first quarter, it is optimistic about the long-term development trend. Tourism and aviation industry are similar, which is affected by the epidemic in the short term, but it is still optimistic in the long term, especially when the May Day holiday is coming, and the demand is yet to be released. Film and television industry is expected to get warmer in the second half of the year due to a late resumption.

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