百润股份实控人转让6%股份套现14.7亿：预调鸡尾酒销量不断下滑 威士忌业务潜力有待检验

Core Viewpoint - Liu Xiaodong, the controlling shareholder of Bairun Co., has transferred 6.01% of his shares to Liu Jianguo for 1.47 billion yuan, marking his first significant reduction since 2019 amid declining sales in the pre-mixed cocktail segment and the nascent whiskey business [1][2][4]. Group 1: Share Transfer Details - Liu Xiaodong transferred 63 million shares, representing 6.01% of the total share capital, to Liu Jianguo at a price of 23.337 yuan per share, which is a 7.54% discount to the closing price of 25.24 yuan on September 10 [1][2]. - Following the transfer, Liu Xiaodong retains a 34.58% stake in Bairun Co., while Liu Jianguo becomes a significant shareholder with 6.01% [1][2]. - Liu Jianguo's acquisition is characterized as a long-term financial investment, with no intention to participate in company management or appoint board members [2]. Group 2: Business Performance and Challenges - Bairun Co. has experienced a continuous decline in its main business, with a 6.61% revenue drop in 2024 and an 8.56% decline in the first half of the year [4][5]. - The revenue from pre-mixed cocktails, including sparkling water, was 2.677 billion yuan in 2024, down 7.18% year-on-year, with sales volume decreasing by 8.81% [4][5]. - The company faces significant challenges in sales channels, primarily relying on offline sales, which have been impacted by reduced foot traffic in supermarkets [5]. Group 3: Whiskey Business Potential - Bairun Co. is expanding its whiskey production capacity, having raised funds for whiskey aging projects, with an expected increase of 33,800 kiloliters in whiskey raw material capacity [6][7]. - The company plans to launch two whiskey products in November 2024, with additional products scheduled for release in 2025, indicating a potential shift in focus to whiskey as a second growth curve [7][8]. - The domestic whiskey market is highly competitive, with foreign brands dominating and a growing number of local companies entering the market [7][8].