LZLJ(SZ:000568) Sou Hu Cai Jing·2025-12-30 04:00Core Viewpoint - The article discusses the increasing trend of Chinese liquor companies, particularly Luzhou Laojiao, to diversify their investments beyond traditional liquor production into various industries, indicating a strategic shift in response to market challenges and the search for new growth opportunities [1][9][12]. Group 1: Investment Activities - Luzhou Laojiao has established multiple equity investment partnerships in Qingdao, marking it as a pioneer among liquor companies in this investment strategy [3][6]. - The company has set up several funds, including Jin Jue Investment and Pu Xin Investment, focusing on technology sectors and other emerging industries [5][10]. - In 2023, Luzhou Laojiao formed several investment partnerships in Qingdao, with notable contributions such as 52 million yuan for Qingdao Pu Zhong Equity Investment Partnership and 21.1 million yuan for Qingdao Han Pu Equity Investment Partnership [6][8]. Group 2: Financial Performance - Luzhou Laojiao reported a revenue of 23.127 billion yuan and a net profit of 10.762 billion yuan for the first three quarters of 2023, demonstrating strong financial health despite industry pressures [10][12]. - The company’s third-quarter revenue was 6.674 billion yuan, with a net profit of 3.099 billion yuan, indicating resilience in a challenging market environment [10]. Group 3: Industry Context - The liquor industry is facing significant challenges, including regulatory restrictions and changing consumer preferences, leading to a slowdown in growth and increased competition [12][13]. - A report indicated that 59.7% of liquor companies experienced a decrease in profit margins, highlighting the need for companies to seek new growth avenues [12][13]. - The trend of liquor companies diversifying into investments is seen as a necessary strategy to mitigate risks associated with their core business and to explore new profit centers [13][14].