JGJC(SZ:000799) Cai Jing Wang·2025-09-12 17:51Core Insights - The company has launched a co-branded product "Jiu Gui Jiu · Free Love" in collaboration with Pang Dong Lai, which has received widespread consumer recognition since its launch [1] - The company's performance has been under pressure for the past two years due to a deep adjustment period in the liquor industry, weak consumption, and intensified competition [1] - The company is in the process of transforming its marketing model, increasing C-end expenditure to strengthen terminal sales, which requires time for the effects to reflect in the company's performance [1] Company Strategy - The company's production capacity can meet the supply demand for the "Jiu Gui Jiu · Free Love" product, with sales being planned by Pang Dong Lai supermarket [1] - The management team is focused on continuing the reform of the BC linkage marketing model, enhancing channel construction and terminal sales, with some initial success as terminal inventory continues to decline [1] - The company plans to implement a second phase of the "Sweep Mine" action in the Hunan local market, targeting identified outlets with precise policies to improve terminal activation success rates and effectively expand terminal coverage [1] Market Expansion - For key markets outside the province, the company will continue to strengthen the "Sweep Mine" action, further penetrating county and town markets to tap into county-level consumption potential and expand market share outside the province [1]