Core Viewpoint - Yanghe Co., a major player in the liquor industry, has undergone significant personnel changes with the resignation of Chairman Zhang Liandong and the appointment of Gu Yu as the new Party Secretary, raising industry attention regarding future leadership and strategic direction [2][9]. Group 1: Leadership Changes - Zhang Liandong has resigned as Chairman after four years, during which he focused on internal reforms and strategic initiatives, leading to a projected revenue of 28.9 billion yuan for 2024 [2][3][7]. - Gu Yu, previously the district mayor of Suqian, has been appointed as the Party Secretary of Jiangsu Yanghe Brewery Co., indicating a continuity in leadership style and focus on local economic development [9][10]. Group 2: Performance and Strategy - Under Zhang's leadership, Yanghe's revenue grew from 25.35 billion yuan in 2021 to 33.126 billion yuan in 2023, with net profit increasing from 7.508 billion yuan to over 10 billion yuan [6][7]. - Zhang implemented a core employee stock ownership plan in 2021, covering 5,085 employees with a 1 billion yuan incentive, resulting in a 58% increase in average sales personnel compensation [4][6]. - The company adopted a dual-brand strategy with "Yanghe + Double Canal," allowing for independent operations and more agile market responses since 2021 [5][6]. Group 3: Future Outlook - Analysts suggest that while recent adjustments may have temporarily impacted performance, they are expected to optimize channel inventory and lay a foundation for long-term growth [7]. - Recommendations for Yanghe's future include revitalizing the "Double Canal" brand, enhancing marketing strategies, and stabilizing the market presence in Jiangsu province [11].