Jing Ji Guan Cha Wang·2025-09-21 08:29Core Viewpoint - Shanxi Fenjiu's shareholder Huachuang Xinxin (Hong Kong) Co., Ltd. plans to reduce its holdings by up to 16.20 million shares due to fund liquidation, but this will not affect Huachuang's confidence in the company's long-term value [1][4] Group 1: Shareholder Actions - Huachuang Xinxin's reduction of shares is a routine operation following the expiration of its fund, which is a common practice in the private equity industry [1][4] - After the reduction, Huachuang will remain the largest shareholder outside of Shanxi state-owned assets, indicating continued support for Fenjiu's long-term investment value [1][4] Group 2: Historical Context and Performance - In 2018, Huachuang acquired an 11.45% stake in Fenjiu for 5.16 billion yuan, marking a significant investment that has proven successful over seven years [2] - Fenjiu's revenue increased from 9.38 billion yuan to an expected 36.01 billion yuan by 2024, demonstrating strong growth and resilience in a challenging industry environment [2][5] Group 3: Strategic Cooperation - The partnership between Fenjiu and Huachuang has deepened, with agreements signed in 2024 to enhance collaboration in marketing, research, and investment [3] - The cooperation is evolving towards digitalization and innovation, supported by Huachuang's research institute, which is expected to drive Fenjiu's high-quality development [3] Group 4: Financial Performance - In the first half of 2025, Fenjiu reported revenue of 23.96 billion yuan, a year-on-year increase of 5.35%, and a net profit of 8.51 billion yuan, up 1.13%, showcasing its ability to maintain growth amid industry challenges [4][5] - Fenjiu's strategy focuses on optimizing product structure and expanding its national market presence, with significant growth in sales outside Shanxi province [4][5]