口子窖实控人频减持套现，员工薪酬垫底上市酒企榜单

Group 1 - The actual controller of Kuozi Jiao, Liu Ansheng, plans to reduce his holdings by 10 million shares, potentially cashing out approximately 340 million yuan, marking his fourth large-scale reduction since 2018, with total cashing expected to exceed 1 billion yuan [1] - Kuozi Jiao's market capitalization is approximately 20.282 billion yuan, significantly lower than Yingjia Gongjiu's 33.096 billion yuan, despite similar revenue figures for 2024, with Kuozi Jiao at 6.015 billion yuan and Yingjia Gongjiu at 7.344 billion yuan [1] - Liu Ansheng's shareholding will decrease from 13.31% to 8.91% after the reduction, raising concerns about information fairness due to the timing of the share reduction coinciding with the upcoming semi-annual report [1] Group 2 - Kuozi Jiao has lost its position as the "second in Huijiu" and faces significant challenges in achieving its strategic goal of becoming a 10 billion yuan company, with stagnant performance and a notable slowdown in terminal sales [2] - The company is experiencing structural issues, including a product gap, shrinking sales in markets outside the province, and increasing inventory pressure, with high-end product growth stagnating and mid-range and low-end products declining [2] - Employee compensation remains low compared to industry standards, with the average salary of employees ranking at the bottom among listed liquor companies, while executive compensation is notably high [2] Group 3 - The management team of Kuozi Jiao is aging, with a lack of new talent, and the company's cash flow is under pressure, leading to a decline in shareholder returns [3] - The decrease in dividend rates, combined with major shareholder reductions, further undermines market confidence [3]