3 6 Ke·2025-11-05 12:40Core Insights - The announcement of salary cuts at Xuanjiu, a prominent regional liquor company, has raised eyebrows in the industry, especially given its recent strong performance in sales and profits [2][3] - The liquor industry is currently undergoing a significant adjustment period, with many companies emphasizing cost reduction and efficiency improvements [5][6] Company Summary - Xuanjiu, based in Anhui Province, reported a sales revenue of 1.8 billion yuan in 2023, a 23% increase year-on-year, and a profit of 314 million yuan, up 16% [2] - The company plans to reduce employee salaries by 10% starting October 1, 2025, which has led to mixed reactions among staff [1][3] - The chairman of Xuanjiu indicated that high-end product sales are expected to grow over 40% in 2024, with tax contributions reaching a historical high of 512 million yuan [2] Industry Summary - The liquor industry is experiencing a downturn, with a reported 18.09% decline in revenue and a 22.10% drop in net profit among 19 listed liquor companies in Q3 2025 [5][6] - Major players like Wuliangye have seen significant revenue declines, with a 52.66% drop in Q3 revenue [6] - The overall market is characterized by an oversupply, leading to reduced consumption in drinking and gifting scenarios, prompting many companies to adopt cost-cutting measures [5][7] - The industry is expected to remain in a bottoming phase, with cautious forecasts for recovery in 2026 [7][8]