五粮液，入局航空领域！

Core Viewpoint - Wuliangye Group has entered the aviation sector by becoming the second-largest shareholder of Sichuan Airlines Group, aiming to explore smart logistics and resource sharing in the aviation cargo business [1][4]. Group 1: Investment and Shareholding Changes - Sichuan Airlines Group's registered capital increased from 417 million RMB to 1.219 billion RMB after Wuliangye Group was added as a shareholder, holding 45.83% of the shares [1]. - Wuliangye Group previously invested approximately 5 billion RMB in Sichuan Airlines in December 2022 to support its main aviation assets [4]. - The financial struggles of Sichuan Airlines are evident, with losses of 2.476 billion RMB in 2020 and 1.821 billion RMB in 2021, leading to a high debt ratio of 92.9% by the end of Q3 2020 [4]. Group 2: Future Plans and Collaborations - Following Wuliangye Group's investment, Sichuan Airlines plans to complete a capital increase of 12 billion RMB with multiple stakeholders, including China Eastern Airlines, aiming for a qualified listing by 2028 [6]. - The strategic partnership between Wuliangye Group and Sichuan Airlines is seen as a significant milestone, with both parties committed to enhancing cooperation in various sectors, including cargo conversion and aircraft leasing [7]. Group 3: Broader Business Strategy of Wuliangye Group - Wuliangye Group is diversifying its investments beyond the liquor industry, having previously established a joint venture in general aviation and invested in solar energy and battery sectors [8][10]. - The company has created a dedicated entity for solar energy investments and is involved in various projects related to photovoltaic technology and power batteries [10].