BRIEF: ZJLD profit declines in first half on soft liquor demand

6979.HK
Li Ning and Anta are consumer companies

Spirits producer ZJLD Group Inc. (6979.HK) said on Tuesday that its net profit for the first half of 2025 fell by 23% to 24% year-on-year. It projected its revenue for the period ranged between 2.4 billion ($334 million) and 2.55 billion yuan, down 38.3% to 41.9% year-on-year.

The company attributed the weak performance to economic uncertainty and recent policy changes that have reduced demand for Chinese liquor, particularly in business, social dining, and gifting scenarios. In June, ZJLD launched a new flagship product and is working to improve its penetration in core markets, speed up channel turnover, and expand into mid- and upper-mid-tier segments.

ZJLD’s Chinese liquor brands include Zhen Jiu, Lidu, Xiang Jiao, and Kai Kou Xiao. Its core product, Zhen Jiu, recorded sales of 12,284 tonnes in 2024, marking its fourth consecutive annual decline.

ZJLD shares opened lower on Wednesday but later rebounded, closing at HK$7.09 by the midday break, up 3.65%.

By Lee Shih Ta

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