14.7亿搭上鸡尾酒大佬：神秘温州富商重金入股百润股份，跃居第二大股东

Core Viewpoint - The recent significant equity transaction involving Baijiu giant Bairun Co., Ltd. (百润股份) has attracted attention, with Wenzhou businessman Liu Jianguo acquiring a 6.01% stake for 1.47 billion yuan, indicating a strategic investment in the ready-to-drink cocktail sector amidst the company's fluctuating performance [1][7][10]. Company Overview - Bairun Co., Ltd. is a leading player in the ready-to-drink cocktail market, with its "RIO" brand holding the top market share in China [7]. - The company has faced challenges, with a revenue decline of 6.61% to 3.048 billion yuan and a net profit drop of 11.15% to 719 million yuan in 2024 [7][11]. - In the first half of the year, Bairun's revenue fell by 8.56% to 1.489 billion yuan, and net profit decreased by 3.32% to 389 million yuan, with both the ready-to-drink and flavoring segments experiencing declines [7][11]. Investment Rationale - Liu Jianguo's investment in Bairun is seen as a long-term financial commitment, aimed at enhancing the company's shareholder structure and bringing in resources for development, without seeking management involvement [8][10]. - The acquisition price of 23.337 yuan per share represents a significant discount from the peak price of 141.94 yuan per share in February 2021, reflecting an over 80% decline in share value [9]. Strategic Implications - Liu Jianguo's history of identifying undervalued consumer brands and his experience in capital operations may provide Bairun with strategic advantages, particularly in channel optimization and high-end market positioning [11]. - The potential synergy between Liu's experience in the golf industry and Bairun's beverage sector could lead to cross-industry opportunities, enhancing brand visibility and market reach [11]. Future Outlook - The transaction is viewed as a mutually beneficial arrangement for both Liu Jianguo and Bairun's current controlling shareholder, Liu Xiaodong, as it aligns with their respective strategic goals [10]. - Bairun's ongoing efforts to expand into the whiskey market may further enhance its growth narrative, positioning the company for future success in the evolving beverage landscape [11].