时隔二十多年，国资再次入股剑南春

Core Viewpoint - The significant equity change in Sichuan Jian'nanchun Group indicates a renewed relationship with state-owned assets, as the Mianzhu State-owned Assets Administration Center acquired approximately 14.51% of the shares, making it the second-largest shareholder [1][4]. Group 1: Shareholding Changes - Mianzhu State-owned Assets Administration Center invested 137.16 million RMB to acquire 14.51% of Jian'nanchun Group, increasing the registered capital from 808 million RMB to 946 million RMB [1]. - Following this investment, the largest shareholder, Sichuan Tongsheng Investment Co., Ltd., saw its stake decrease to around 63%, losing its absolute control over the company [2][3]. Group 2: Historical Context - Jian'nanchun Group, originally a state-owned enterprise, underwent privatization in the early 2000s, with Sichuan Tongsheng becoming the largest shareholder post-reform [3]. - The company has faced controversies, including legal issues involving its chairman, Qiao Tianming, who was sentenced to five years in prison in 2023 for misappropriating state assets [3][4]. Group 3: Business Performance and Strategy - Jian'nanchun Group has been a leading player in the liquor industry, achieving over 10 billion RMB in revenue as early as 2018, and aims to reach 30 billion RMB by the end of the 14th Five-Year Plan [6]. - The company has partnered with e-commerce platforms and launched high-end products, enhancing its brand presence, although it has not disclosed recent annual revenue figures [6]. - In 2024, Jian'nanchun's revenue was reported at 16.94 billion RMB, with a 15% year-on-year growth for its subsidiary [6].