Distillers and Vintners

LZLJ

LZLJ released FY2025 Q4 earnings on April 28 (BJT), actual revenue CNY 2.604 B (forecast CNY 3.994 B), actual EPS CNY 0.0464 (forecast CNY 0.9655)

LZLJ released FY2025 annual earnings on April 28 (BJT), actual revenue CNY 25.73 B (forecast CNY 28.09 B), actual EPS CNY 7.36 (forecast CNY 8.0818)

LZLJ released FY2026 Q1 earnings on April 28 After-Market (BJT), actual revenue CNY 8.025 B (forecast CNY 7.949 B), actual EPS CNY 2.52 (forecast CNY 2.78)

LZLJ to Release FY2026 Q1 Earnings on April 29 After-Market (BJT), Forecast Revenue CNY 7.949 B, EPS CNY 2.78

LZLJ to release FY2025 earnings on April 29, 2026 (BJT), forecast revenue CNY 28.09 B, EPS CNY 8.0818

LZLJ released FY2025 9 Months Earnings on October 30 After-Market (BJT), actual revenue CNY 23.13 B, actual EPS CNY 7.3134

LZLJ released FY2025 Q3 earnings on October 30 After-Market (BJT), actual revenue CNY 6.674 B (forecast CNY 5.919 B), actual EPS CNY 2.101 (forecast CNY 2.0203)

LZLJ to release FY2025 Q3 earnings on October 31 After-Market (BJT), forecast revenue CNY 5.919 B, EPS CNY 2.0203

LZLJ released FY2025 Q2 earnings on August 29 After-Market (BJT), actual revenue CNY 7.102 B (forecast CNY 6.507 B), actual EPS CNY 2.0824 (forecast CNY 2.1074)

LZLJ released FY2025 Semi-Annual Earnings on August 29 After-Market BJT, actual revenue CNY 16.45 B, actual EPS CNY 5.21

LZLJ to Release FY2025 Semi-Annual Earnings on August 30, 2025 (BJT)

LuZhou LaoJiao Hosts Master Festival to Promote Baijiu Culture

LUZIYAO Explains Discrepancy in Annual Report Data

 Luzhou Laojiao Receives New Patent Authorization, R&D Investment Up 15.5%

Jinyang Yuenda No.4 Investment Partnership Established

Chengdu Jinyu No.1 Enterprise Management Partnership Established

LuZhouLaoJiao Responds to No 酱酒 Products

Luzhou Laojiao Responds to Plum Wine Layout and 2024 Dividend Plan

Goldman Sachs downgrades Luzhou Laojiao to neutral

Luzhou Laojiao Applied for 57 New Trademarks This Year

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Qiu Yinghua led a business delegation to visit Sichuan, promoting Hong Kong's advantages as a hub for liquor trade. Last year, the value of taxable Chinese liquor in the Hong Kong market reached HKD 350 million, with imports exceeding 1.3 million liters. Qiu Yinghua emphasized that the country supports high-quality Chinese brands going global, and Hong Kong will continue to assist mainland liquor companies in expanding into overseas markets. The delegation will also visit the LZLJ distillery and proceed to Guizhou for follow-up visits

AASTOCKS

Qiu Yinghua led a delegation to visit Sichuan to promote liquor trade. Last year, the taxable value of Chinese liquor exported to Hong Kong reached 350 million yuan

600489

002261

159562

600547

000506

601611

518850

36Kr learned that the three major indices of A-shares collectively closed lower, with the Shanghai Composite Index down 0.82%, the Shenzhen Component Index down 0.65%, and the ChiNext Index down 0.22%; stablecoins, gold, and AI computing power concepts saw significant declines, with Lakala down over 8%, TALKWEB down over 7%, and ZJIG down over 5%; major infrastructure, liquor, and telecommunications stocks strengthened, with CNEC hitting the daily limit, LZLJ up over 2%, and China Mobile up over 1%

36Kr

ZHONGJIN GOLD

TALKWEB

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

SD-GOLD

ZJIG

CNEC

ChinaAMC Gold ETF

The three major A-share indices collectively closed lower, and the stablecoin concept declined

000858

603288

600600

600519

600779

000799

000596

Goldman Sachs released a research report listing the investment ratings and target prices for mainland retail stocks. Among the liquor stocks, Moutai and WLY are rated as "Buy," with target prices of 1,553 yuan and 133 yuan, respectively; ZJLD, SHANXI FEN WINE, and LZLJ are rated as "Neutral"; Yanghe, Gu Jing, JGJC, and SCSF are rated as "Sell." In the beer stocks, BUD APAC, CHINA RES BEER, and Tsingtao Brewery are rated as "Buy," while others are rated as "Neutral." Among the condiment stocks, HAITIAN FLAV is rated as "Buy."

HAI TIAN

Tsingtao Brewery

TSINGTAO BREW

ChinaAMC CSI Food & Beverage Sub-Industry ETF

Tianhong CSI Food and Beverage ETF

Moutai

SCSF

HAITIAN FLAV

China Merchants CSI Liquor Index Fund-A

BUD APAC

Penghua CSI Alcoholic Drink ETF

CHINA RES BEER

China Merchants Guozheng Food and Beverage ETF

Yanghe

JGJC

SHANXI FEN WINE

Gu Jing

ZJLD

Goldman Sachs' Investment Ratings and Target Prices for Mainland Retail Stocks (Table)

600188

601898

000995

Coal stocks surged, YANKUANG ENERGY, Shaanxi Heimao, and YNCE hit the daily limit, while CHINA COAL, DYEC, and Jinkong Coal also saw significant gains. A-shares in the liquor sector rose again, with Huangtai Wine reaching the daily limit, marking a five-day winning streak, while JGJC, Moutai, LZLJ, and SHANXI FEN WINE also followed suit. Hong Kong chip stocks initially declined, with Shanghai Fudan dropping over 6%, Huahong Semiconductor falling more than 4%, Zhaoyi Innovation down over 3%, and SMIC dropping nearly 3%

Wallstreetcn

YANKUANG ENERGY

China Coal Energy

YNCE

Huangtai Wine

Shanxi Coking Coal

DYEC

Guotai CSI Coal ETF

CHINA COAL

Shaanxi Heimao

The ChiNext Index fell over 2%, computing hardware stocks all declined, "Yi Zhongtian" plummeted, coal stocks surged, the Hang Seng Index dropped over 1%, chip stocks adjusted, and Shanghai gold and silver rose significantly

Tianfeng Securities' research report points out that the liquor sector has undergone about 5 years of adjustment, and currently, valuations and institutional positions are at historical lows. Although the market holds a pessimistic view of this sector, stock prices may lead the fundamentals to bottom out. The report believes that the stabilization of Moutai's price is a positive signal, and it is expected that the sector's valuation recovery will precede the performance recovery. Recommended stocks include Moutai, LZLJ, and WLY

Tianfeng Securities: The valuation repair of the liquor sector may lead the performance repair

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As global markets face geopolitical tensions and economic adjustments, investors are focusing on dividend stocks for stability and income. The top 10 global dividend stocks include Yeni Gimat Gayrimenkul Yatirim Ortakligi (5.04% yield), Yamato Kogyo (3.54%), and Anhui Yingjia Distillery (3.5%). i-Scream Media offers a high yield of 9.2% but has a low payout ratio, while Luzhou Laojiao maintains a 4.8% yield with stable dividends. The article emphasizes the importance of informed investing and highlights opportunities in the dividend stock market.

Simplywall

Yamato Kogyo Co., Ltd.

Top Global Dividend Stocks To Watch In January 2026

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36Kr learned that the three major A-share indices closed mixed, with the Shanghai Composite Index up 0.16%, the Shenzhen Component Index down 0.3%, and the ChiNext Index down 0.57%; the liquor, precious metals, and media sectors led the gains, with LZLJ hitting the daily limit, Moutai and ZHONGJIN GOLD rising over 8%, and COL rising over 5%; the semiconductor, electrical grid, and aerospace military sectors weakened, with Jinghe Integrated and Wolong Nuclear Materials down over 6%, and Aerospace Electronics down over 4%

The three major A-share indices closed mixed, with liquor stocks leading the gains

36Kr learned that the Aiqicha App shows that recently, Qingdao Puzhong Equity Investment Partnership (Limited Partnership) was established, with Puchun Consulting (Shenzhen) Co., Ltd. as the executive partner. The registered capital is 52 million yuan, and the business scope includes engaging in investment activities with its own funds. Partner information indicates that this partnership is jointly funded by Luzhou Laojiao Group Co., Ltd. and Sichuan Puxin Industrial Financial Investment Co., Ltd. under its umbrella

Luzhou Laojiao and others established a private equity investment partnership in Qingdao

LZLJ(000568.SZ)