Company Overview - Jiu Gui Jiu Co., Ltd. is located in the Zhenwu Ying Jiu Gui Jiu Industrial Park in Jishou City, Hunan Province, established on July 14, 1997, and listed on July 18, 1997. The company primarily engages in the production and sales of fragrant liquor series products [1]. Financial Performance - As of September 11, Jiu Gui Jiu's stock price increased by 5.93%, reaching 73.59 CNY per share, with a trading volume of 339 million CNY and a turnover rate of 1.45%. The total market capitalization is 23.912 billion CNY [1]. - The main business revenue composition includes: Jiu Gui series 51.60%, other series 22.38%, Nei Can series 19.77%, Xiang Quan series 5.61%, and others 0.64% [1]. Fund Holdings - According to data from the top ten heavy stocks of funds, one fund under Green Fund has a significant holding in Jiu Gui Jiu. The Green Steady Value Mixed A Fund (009940) increased its holdings by 14,900 shares in the second quarter, totaling 62,200 shares, which accounts for 5.35% of the fund's net value, ranking as the tenth largest heavy stock [2]. - The Green Steady Value Mixed A Fund was established on October 21, 2020, with a latest scale of 24.3811 million CNY. Year-to-date returns are 2.55%, ranking 7331 out of 8175 in its category; the one-year return is 15.37%, ranking 6282 out of 7982; and since inception, it has a loss of 33.26% [2]. Fund Management - The fund manager of Green Steady Value Mixed A Fund is Li Huai Zhong, who has a cumulative tenure of 11 years and 59 days. The current total asset scale of the fund is 19.4 million CNY, with the best fund return during his tenure being 70.73% and the worst being -34.65% [3].

Core Insights - The company has experienced significant growth since its listing in 1997, with a market capitalization increase from 5.64 billion to 15.85 billion, reflecting the broader trends in the liquor industry [1][5] - However, recent years have shown a marked decline in the company's operational performance, with a substantial drop in both revenue and net profit [3] Revenue Analysis - The main business of the company includes the production and sale of the Jiugui liquor series and the Xiangquan liquor series, with the Jiugui series accounting for 58.66% of total revenue [3] - Revenue peaked at 1.826 billion in 2020 but fell to 1.423 billion in 2024, indicating a significant downturn after rapid growth in 2021 and 2022 [3] Profitability Analysis - The company reported a net profit of 160 million in 1997, but this figure plummeted to 12 million by 2024, representing a cumulative profit decline of 92.19% [3] - The profitability peaked in 2021 and 2022 but has sharply deteriorated in the last two years, with net profit dropping from 492 million in 2020 to 12 million in 2024 [3] Market Capitalization Trends - Since its peak market capitalization of 89.97 billion in September 2021, the company's market value has decreased by 74.12 billion, equating to an 82.38% loss [5]