Core Insights - The eighth China International Import Expo (CIIE) successfully showcased China's commitment to high-level openness and global cooperation, transforming the vast Chinese market into shared opportunities for the world [1][2] - Wuliangye, a leading Chinese liquor brand, participated for the eighth consecutive year, highlighting its cultural confidence and innovative approach to integrating into the global consumer market [1][2] Group 1: Event Overview - The CIIE serves as a crucial bridge connecting China with the world, facilitating a platform for global cooperation and economic certainty [2] - The number of participating enterprises reached a new high, reflecting a strong consensus on collaboration [2] Group 2: Wuliangye's Participation - Wuliangye showcased its cultural heritage through an upgraded experience center, featuring immersive storytelling and product experiences [4] - The exhibition included models of historical brewing sites and highlighted key products, emphasizing the depth and quality of "Great Country's Strong Aroma" [4] Group 3: Cultural and Product Innovation - Wuliangye launched a new series of collaborative cultural products, integrating the panda "Jinbao" and elements from five continents, promoting harmony and cross-regional friendship [6] - The brand engaged consumers through interactive activities at the expo, appealing to younger audiences and showcasing the modern appeal of traditional liquor [10] Group 4: Global Market Integration - Since its inception in 2018, the CIIE has allowed Wuliangye to expand its international cooperation and integrate into global supply chains [7] - Wuliangye has established partnerships with leading global retail chains, enhancing its presence in the Chinese market and fostering mutual benefits [9] Group 5: Internationalization Strategy - Wuliangye is actively building a global market presence, with a 23% year-on-year increase in exports in the first three quarters of 2025, leading the industry [9] - The company is innovating its approach by creating cocktails in collaboration with international partners and establishing restaurants in key global cities [9] Group 6: Cultural Exchange and Brand Development - Wuliangye is committed to cultural exchange, having initiated a global cultural outreach program that has reached 19 countries [10] - The brand's participation in major international events has enhanced its global influence and brand recognition [11]

Core Viewpoint - The 35th China (Guangzhou) International Wine Exhibition showcases the efforts of Wuliangye, a leading Chinese liquor company, to integrate Chinese fine wines into the global industry chain and promote them worldwide [1][5]. Group 1: Event Overview - The exhibition took place from October 31 to November 2, 2025, at the Poly World Trade Center in Guangzhou, focusing on the theme "Chinese Fine Wines Fragrance Worldwide" [1]. - The event was co-hosted by several organizations, aiming to create a global platform for wine trade and innovation through various activities such as technical sharing sessions and wine tasting events [1]. Group 2: Wuliangye's Participation - Wuliangye showcased a diverse product matrix at its exhibition booth, highlighting its innovation and leadership in the Chinese liquor industry [3]. - The booth featured core products like the classic Wuliangye series and cultural wines, demonstrating a blend of rich cultural heritage and modern design aesthetics [3]. Group 3: Brand Development and Global Strategy - Wuliangye's Chief Engineer, Yang Yunxia, emphasized the importance of quality in brand building and global development, integrating the "quality as the foundation" philosophy into the company's strategy [5]. - The company aims to become the most popular Chinese liquor brand internationally by focusing on local culture integration and utilizing local media and methods for market penetration [5]. Group 4: Global Outreach and Cultural Exchange - Wuliangye has expanded its presence to dozens of countries and regions, employing innovative models that combine local dining experiences with cultural exchanges [6]. - The company has initiated the "He Mei Global Tour," a cross-national cultural exchange program that has reached 19 countries, enhancing cultural and economic cooperation [6]. Group 5: Future Directions - Wuliangye plans to deepen its global strategy, actively participating in international industry events and enhancing collaboration within the global value chain [7]. - The company aims to respond to consumer expectations for a better life while contributing to the prosperity of the global liquor industry through its "He Mei" philosophy [7].

Industry Insights - The liquor industry exhibits a wave-like progression and spiral ascent, with cultural, emotional, and spiritual attributes remaining unchanged [1] - The aspiration for a better life among the populace presents the greatest opportunity for the liquor industry [1] - Long-term thinking is essential for navigating the fluctuations in the Chinese liquor market and identifying new opportunities amid economic transitions [2] Strategic Focus - The company aims to enhance its brand value in 2025, focusing on product sales, channel optimization, and service capabilities [2] - Key strategies include: - Fine-tuning operations to expand market share through systematic marketing policies [2] - Emphasizing youthfulness, fashion, and internationalization to attract younger consumers [2] - Adopting a balanced pricing strategy and responsive market mechanisms to adapt to demand [2] Product Development - The banquet market has shown good growth in both scale and opening rates in the first half of the year [3] - The company is dynamically adjusting sales plans based on market conditions and has implemented direct distribution in 20 key cities to reduce logistics costs [3] - High-quality development is prioritized for the 1618 and low-alcohol products, with increased market investment and consumer engagement efforts [4] Brand and Market Expansion - The strong brand backing of the liquor series and its high cost-performance ratio cater to diverse daily consumption needs [4] - The company is focusing on channel development, particularly in e-commerce and new retail channels, while enhancing brand culture through personalized marketing [4] - Internationally, the company has launched cocktails in Europe and sparkling wines in Korea, receiving positive market feedback [5] Youth Engagement - The company is advancing its brand's youthfulness through product innovation, channel expansion, and marketing strategies [5] - New products with lower alcohol content and trendy designs are being introduced to appeal to younger consumers [5] - Initiatives like the "Five Grains·Zhi Zao" experience store aim to attract young consumers and enhance brand engagement [6] Investor Relations - The company emphasizes investor returns, with a planned dividend rate of 70% for 2024, a 10 percentage point increase from the previous year [6]

Core Insights - The company emphasizes a consumer-oriented approach, focusing on product demand and application scenarios, while maintaining a balanced pricing strategy and dynamic market adaptation [1] Group 1: Market Strategy - The company is implementing a refined channel strategy, directly supplying 20 key cities to reduce distributor costs and enhance terminal control [1] - Dynamic optimization of planned distribution is based on distributor financial strength, terminal network, sales performance, and inventory levels to prevent unauthorized sales [1] - The company is actively expanding into emerging markets, with e-commerce growth exceeding 20%, and exploring new channels, regions, and consumption scenarios [1] - Innovative marketing activities are being promoted, including increased engagement with the eighth generation of Wuliangye products through activities like bottle scanning [1] - The company is building a membership system to enhance consumer loyalty, with a focus on high-quality sales for specific product lines [1] Group 2: Financial Performance and Shareholder Returns - The company is committed to increasing cash dividends, promising that from 2024 to 2026, annual cash dividends will be no less than 70% of the annual net profit attributable to shareholders, with a total dividend of no less than 20 billion [2] - The company has announced its first interim cash dividend in nearly 20 years, totaling 10 billion [2] - The major shareholder plans to increase their stake in the company by 500 to 1,000 million, reflecting confidence in future growth [2] Group 3: Profit Forecast - The company expects to achieve revenue of 932.06 billion, 999.86 billion, and 1,106.13 billion from 2025 to 2027, with year-on-year growth rates of 4.52%, 7.27%, and 10.63% respectively [3] - The projected net profit attributable to shareholders for the same period is 332.30 billion, 357.32 billion, and 398.78 billion, with growth rates of 4.32%, 7.53%, and 11.60% respectively [3] - The price-to-earnings ratios are forecasted to be 13.97, 12.99, and 11.64 for the years 2025 to 2027 [3]