Core Viewpoint - Zhangyu A is accelerating the divestment of overseas assets to focus on domestic high-end brands amid ongoing performance pressure in the wine industry [1] Company Summary - Zhangyu A announced the sale of 100% equity in French ETABLISSEMENTS ROULLET FRANSAC for €2.6 million and related real estate for €2.2 million, totaling €4.8 million to ELIOR GROUP SA [1] - The company previously acquired the French winery for €3.575 million in 2013 and invested an additional €5 million in 2014, but the overseas expansion did not yield expected returns [1] - Zhangyu A plans to sell the Laizhou Zhuqiao grape base for an estimated valuation of approximately ¥221 million by the end of 2024, with expected annual revenue of about ¥100 million [1] - The company also transferred part of its equity in Langfang Kaste for approximately ¥10.9215 million [1] - The divestment strategy aims to optimize asset structure, recover funds, and improve efficiency while focusing on the domestic high-end brand "Koya" [1] Industry Summary - Zhangyu A's brandy business is facing challenges, with projected revenue of approximately ¥740 million in 2024, a year-on-year decline of 35.8%, accounting for 22.85% of total revenue [1] - The company's overall revenue is expected to be around ¥3.277 billion in 2024, a decrease of 25.26%, with net profit projected at approximately ¥305 million, down 42.68% year-on-year [1] - The management acknowledged the current situation at the shareholder meeting, with the chairman expressing short-term pessimism and the general manager warning of potential profit issues in 2025 while setting a revenue target of ¥3.4 billion [1] - The wine industry is undergoing significant adjustments, with intense competition in the grape wine market, and traditional leaders like Zhangyu A need to find new growth paths amid pressure from imported wines and emerging beverages [1]