CHINA RES BEER(HK:00291) Xin Lang Cai Jing·2025-12-27 15:38Core Viewpoint - The recent appointment of Han Yuguo as the Vice General Manager and General Manager of the Marketing Center at Jinsha Liquor indicates a strategic shift in management aimed at revitalizing the company's performance amid declining sales figures [1][3]. Group 1: Management Changes - Han Yuguo has been with Jinsha Liquor since 2007, starting as a grassroots salesperson and progressing through various management roles, demonstrating extensive experience in liquor marketing [3]. - Under Han's leadership, the sales in the Zunyi market increased from 4.18 million to approximately 100 million over five years, and in the Hubei market, sales rose from 15 million to 160 million in three years [3]. - Following the acquisition of Jinsha Liquor by China Resources Beer in 2022, there have been multiple changes in key management positions, with executives from the China Resources system taking significant roles [3]. Group 2: Financial Performance - Jinsha Liquor's revenue decreased from 3.64 billion in 2021 to 2.067 billion in 2023, indicating a significant decline in performance [3]. - In the first half of 2023, the revenue from China Resources Beer's liquor business fell by 33% year-on-year to 780 million, reflecting poor performance in the liquor segment [3]. - The appointment of Han Yuguo is seen as a response to the underperformance in the liquor sector, with expectations for him to leverage his frontline experience to address the challenges faced by Jinsha Liquor [4].