Zhenjiu Lidu (06979) releases its annual performance; adjusted net profit is 523 million yuan, down 68.8% year-on-year.

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Zhenjiu Lidu(06979) announced its performance for the year ended December 31, 2025; for the group, revenue was 3.65 billion yuan, a year-on-year decrease of 48.3%; profit attributable to equity shareholders was 538 million yuan, a year-on-year decrease of 59.3%; adjusted net profit was 523 million yuan, a year-on-year decrease of 68.8%; earnings per share was 0.163 yuan.

In 2025, the Baijiu industry faced several challenges, particularly as Baijiu consumption demand continued to decline since the second quarter of 2025 due to the introduction of several anti-corruption policies. To address these challenges in the current economic environment and the decline in Baijiu consumption demand, the company is committed to reducing channel inventory and maintaining the profitability and pricing system of its distribution channels. In particular, in 2025, the company adopted the following strategic measures: the company proactively explored and implemented more effective business models to better respond to industry challenges and seize emerging growth opportunities.

In June 2025, the company officially launched the “Wan Shang Alliance” model, aiming to pool high-quality distributor resources and build a mutually beneficial long-term strategic partnership; the company is making vigorous efforts to advance a digital and intelligent upgrade of brand communications. Through new media platforms such as the video account personally operated by Chairman Wu Xiangdong, it formed a strong wave of online communication; at the same time, by combining offline events and traditional channels, it achieved a three-dimensional communication matrix integrating online and offline channels, significantly improving the efficiency of the company’s brand to reach consumers, and further strengthening the image of the high-end brand; in terms of product strategy, the company focuses on consumption scenarios that are relatively less affected by the macro environment, mainly promoting product series suitable for celebrations such as wedding banquets and birthday parties, and enhancing the market penetration of near-high-end and mid-range price bands products to meet diversified and rational consumption needs; the company maintains a measured sales cadence, especially accelerating channel destocking in the second half of 2025, effectively alleviating pressure on distributors and creating favorable conditions for healthy growth in the future; the company continuously recruits and nurtures high-quality distributors and consumers through immersive marketing activities; and the company further optimizes the allocation of resources for production costs and marketing expenses.

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