BAIRUN CORPORATION(SZ:002568) Jing Ji Guan Cha Wang·2025-10-20 09:37Core Viewpoint - Liu Xiaodong, the actual controller and chairman of Bairun Co., Ltd., transferred 6.01% of his shares, cashing out approximately 1.47 billion RMB, with the transfer completed on October 19, 2025 [1] Group 1: Share Transfer Details - Liu Xiaodong transferred 63 million shares, representing 6.01% of the total share capital, at a price of 23.337 RMB per share, totaling 1.47 billion RMB [1] - Following the transfer, Liu Xiaodong's shareholding in Bairun Co. decreased to 34.58%, maintaining his status as the controlling shareholder [1] Group 2: Financial Performance of RIO - RIO, a pre-mixed cocktail brand under Bairun Co., generated revenue of 2.884 billion RMB in 2023, falling short of the 3 billion RMB mark [2] - In the first half of 2025, Bairun Co.'s revenue from alcoholic products, primarily RIO, was 1.297 billion RMB, with a sales volume of 15.03 million boxes, reflecting a year-on-year decline of 12.68% [2] Group 3: New Shareholder Profile - The buyer, Liu Jianguo, is a businessman from Wenzhou and the chairman of Benjian Golf Co., Ltd., holding approximately 38.67% of its shares [4] - Liu Jianguo has a background in the small appliance industry and has previously built the "POVOS" brand, selling a significant portion of his kitchen appliance business to Philips for over 2 billion RMB [5] Group 4: Investment Implications - The share transfer price of 23.337 RMB represents a nearly 10% discount compared to Bairun Co.'s closing price of 26.24 RMB on October 20, 2025, providing Liu Jianguo with an immediate investment gain of approximately 12% [3][4] - Liu Jianguo is committed to a 12-month lock-up period, during which he cannot sell the acquired shares [6]