Zhen Jiu Lidu's 2025 revenue declined 48.3% to 3.65 billion yuan, strengthening penetration of super-premium and mid-range price segment products

On March 25, Zhenjiu Lidu released its 2025 financial report. The company disclosed revenue of 3.65 billion yuan, a year-on-year decrease of 48.3%. Adjusted net profit was 523 million yuan, down 68.8% year-on-year.

The announcement pointed out that in 2025, the Baijiu industry faces several challenges, especially as consumer demand for Baijiu has been declining since the second quarter of 2025. To address these challenges and the decreasing consumer demand, the company is committed to reducing channel inventory and maintaining the profitability and pricing system of our distribution channels. Specifically, in 2025, the company adopted the following strategic measures:

The company actively explores and implements 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 consolidate high-quality distribution resources and build long-term strategic partnerships for mutual benefit.

The company is vigorously advancing the digital transformation of brand communication. Through Chairman Wu Xiangdong’s personal operation of video accounts and other new media platforms, a large online presence has been formed. Combined with offline activities and traditional channels, this creates an integrated online and offline communication matrix, significantly improving consumer outreach and further strengthening the high-end brand image.

In terms of product strategy, the company focuses on consumption scenarios with relatively low environmental impact, mainly promoting product lines suitable for wedding banquets, birthday parties, and other celebrations. It also enhances market penetration of near-premium and mid-range products to meet diversified and rational consumer needs.

The company maintains a controlled sales pace, especially accelerating channel destocking in the second half of 2025, effectively alleviating distributor pressure and creating favorable conditions for healthy future growth.

Through immersive marketing activities, the company continues to recruit and cultivate high-quality distributors and consumers, and further optimizes resource allocation for production costs and marketing expenses.

(Company Announcement)

(Edited by: Lin Chen)

Keywords: Baijiu