On June 21, the annual shareholder meeting and investor day of Zhenjiu Lidu Group were held in Zunyi, Guizhou. As the first annual shareholder meeting of Zhenjiu Lidu after its listing, it attracted more than 160 attendees, including shareholders and their representatives, investment institution representatives, and securities analysts.
(Investor communication meeting site) During the investor communication meeting, investors and representatives from investment institutions such as Goldman Sachs, Morgan Stanley, China International Capital Corporation, gtja, and Founder Securities asked questions about market, products, and channels. Wu Xiangdong maintained his consistent style: pragmatic, wise, professional, and confident, answered each of the investors' questions one by one.
(Zhenjiu Lidu Group Chairman Wu Xiangdong) When talking about the market situation, Wu Xiangdong expressed his confidence and stated that Maotai's temporary price drop doesn't have much impact on the industry, and it may even stimulate more people to consume. He also pointed out that non-brand companies are more affected by the current stock market and market changes than brand companies, mainly due to the macroeconomic environment. As the economy recovers, the industry will still develop upward.
Talk about market conditions: confident about the impact on head brands
When asked about Zhenjiu Lidu's product structure, Wu Xiangdong stated that the series of 2011, 2012, 2013, and other years have received good feedback from the market and will continue to grow rapidly in the future, but the supply is limited. The core products are still Zhenfifteen and Zhenthirty, focusing on the thousand yuan price range, occupying the second and high-end markets. Wu Xiangdong also revealed that Zhenfifteen and Zhenthirty will be upgraded to better quality and cost-effectiveness to meet the needs of the high-end sauce wine market.
When an investor asked what "difficult but right things" a liquor company should do during the current industry adjustments, Wu Xiangdong believed that the cross-border integration of "food + wine" will be an important reliance for white wine to achieve incremental growth. Zhenjiu is building the Zhenjiu 1912 gourmet research institute to create a scene-based, immersive "food + wine" model, promote the establishment of unified food standards, and help Chinese cuisine go global. Wu Xiangdong said, "Chinese cuisine is matched with white wine, not as with red wine or beer. Upgrading Chinese cuisine, attracting more diners to eat out, and increasing opportunities to consume white wine will follow suit."
Talk about market building: focusing on core markets with sufficient growth momentum
Regarding the core market construction of Zhenjiu Lidu, Wu Xiangdong stated that Zhenjiu has been continuously cultivating key markets such as Guizhou, Henan, Hunan, Guangdong, and Shandong, and market growth momentum is in line with expectations. For example, the Guizhou and Henan markets are still growing steadily, and the growth rate of the Hunan market has also exceeded the basic expectations. Regarding Lidu, it will adopt two sets of tactics inside and outside the province, expanding the product with a full price range in the province, and still focusing on the three major product series of Lidu sorghum in other provinces such as Jiangsu, Guangdong, Shandong, and Zhejiang.
(Investor questioning)
Talk about product structure: upgrading core products, occupying the thousand yuan price range
When talking about the product structure of Zhenjiu Lidu, Wu Xiangdong said that the series of 2011, 2012, 2013, and other real-year products have received good feedback from the market and will continue to grow rapidly in the future, but the supply is limited. The core products are still Zhenfifteen and Zhenthirty, focusing on the thousand yuan price range, occupying the second and high-end markets. Wu Xiangdong also revealed that Zhenfifteen and Zhenthirty will be upgraded to better quality and cost-effectiveness to meet the needs of the high-end sauce wine market.
Talking about development suggestions: "Food + Wine," finding new growth
When an investor asked what "difficult but right things" a liquor company should do during the current industry adjustments, Wu Xiangdong believed that the cross-border integration of "food + wine" will be an important reliance for white wine to achieve incremental growth. Zhenjiu is building the Zhenjiu 1912 gourmet research institute to create a scene-based, immersive "food + wine" model, promote the establishment of unified food standards, and help Chinese cuisine go global. Wu Xiangdong said, "Chinese cuisine is matched with white wine, not as with red wine or beer. Upgrading Chinese cuisine, attracting more diners to eat out, and increasing opportunities to consume white wine will follow suit."
(Investor communication meeting site)
Talking about growth momentum: continuous efforts in brands, production capacity, channels, and teams
At the scene, an investor asked how liquor companies, especially growing ones, can achieve greater and faster development during this industry adjustment. Wu Xiangdong cited the example of Zhenjiu Lidu, believing that as long as it continuously makes efforts in brands, production capacity, channels, and teams, it will have a foundation for sustainable growth.
(Investor consulting product information)
Wu Xiangdong also exchanged views with investors on channel management, corporate governance, and other issues. The Q&A session not only responded to investors' concerns about the company but also allowed investors to see a more open and confident Zhenjiu Lidu.