Bei Jing Shang Bao·2025-07-08 11:17Core Insights - The resignation of senior executives from both China Resources Beer and Jinzhongzi Wine highlights a critical juncture for the "Beer + White" strategy of China Resources [1][6][9] - Jinzhongzi Wine continues to face challenges with declining performance, while China Resources Beer is also experiencing a drop in beer sales, indicating ongoing difficulties for both companies [1][4][7] Group 1: Executive Changes - Jinzhongzi Wine's General Manager He Xiuxia resigned on July 2 due to work adjustments, with the company stating that this will not affect its normal operations [3][4] - China Resources Beer Chairman Hou Xiaohai resigned at the end of June for personal reasons, having previously sold a significant number of shares, indicating preparation for his departure [6][7] Group 2: Financial Performance - Jinzhongzi Wine reported a revenue of 296 million yuan in Q1 2025, a year-on-year decline of 29.41%, with a net loss of approximately 38.93 million yuan, down 320.62% [4][5] - China Resources Beer achieved a revenue of 38.635 billion yuan in 2024, a decrease of 0.76%, with a net profit of 4.739 billion yuan, down 8.03% [7][8] Group 3: Strategic Challenges - The "Beer + White" strategy is facing difficulties as both beer and white wine segments are underperforming, with Jinzhongzi Wine's sales strategy and product positioning needing reevaluation [5][10] - The integration of beer and white wine operations is proving challenging due to fundamental differences in consumer behavior and market dynamics [10][11] Group 4: Market Position and Competition - Jinzhongzi Wine's market position is under pressure, with the need for effective strategies to reverse its declining performance amid fierce competition in the white wine sector [4][5] - China Resources Beer is struggling to maintain its market share in the high-end segment, facing stiff competition from international brands like Budweiser and Heineken [7][8] Group 5: Future Directions - The future leadership of China Resources Beer will need to focus on high-end market strategies and balancing the scale advantages of beer with the potential of new white wine ventures [8][9] - There is a call for a specialized team for white wine operations to avoid reliance on beer business practices, emphasizing the need for tailored strategies in brand management and consumer engagement [10][11]