Xin Hua Cai Jing·2025-10-31 07:31Industry Dynamics - The total profit of the liquor, beverage, and refined tea manufacturing industry increased by 14.4% year-on-year, with total profits reaching 246.53 billion yuan despite a slight revenue decline of 0.3% to 1,184.74 billion yuan from January to September [3] - The national wholesale price index for liquor showed a slight decrease of 0.07% in mid-October, with famous liquor prices dropping by 0.19% while local liquor prices increased by 0.12% [3] - Wenshui County has become a significant player in the clear aroma liquor sector, producing 150,000 tons annually and generating an industry output value of 2 billion yuan [3] Company Dynamics - Jiangsu Province aims for the liquor industry to achieve total revenue exceeding 100 billion yuan by 2030, requiring a compound annual growth rate (CAGR) of approximately 4.5% from a base of 75.596 billion yuan in 2024 [4] - Multiple liquor companies have reported their Q3 2025 performance, with notable figures including Kweichow Moutai's revenue of 130.904 billion yuan and net profit of 64.627 billion yuan, reflecting a year-on-year growth of 6.36% and 6.25% respectively [5] - The overall liquor industry is undergoing a significant adjustment phase, with most companies experiencing a notable decline in performance, attributed to high channel inventory and weak terminal sales [6] - Chen Hua has been appointed as the new chairman of Kweichow Moutai Group and Kweichow Moutai Co., Ltd. [7] - Wuliangye's new product, 29° Wuliangye "One Glance in Love," achieved sales exceeding 100 million yuan within 60 days of its launch, indicating strong market acceptance [7] - Qingdao Beer announced the termination of its acquisition of Shandong Jimo Yellow Wine Factory due to unmet conditions in the share transfer agreement [8]