Distillers and Vintners

Gu Jing

Gu Jing released FY2025 Annual Earnings on April 28 During-Market (BJT), actual revenue HKD 20.58 B (forecast HKD 19.3 B), actual EPS HKD 7.3337

Gu Jing released FY2025 Q4 earnings on April 28 During-Market (BJT), actual revenue HKD 2.677 B (forecast HKD 2.575 B), actual EPS HKD -0.8633

Gu Jing released FY2026 Q1 earnings on April 28 Pre-Market (BJT), actual revenue HKD 8.442 B (forecast HKD 7.774 B), actual EPS HKD 3.4465

Gu Jing to release FY2026 Q1 earnings report on April 29 Pre-Market (BJT), forecast revenue CNY 7.774 B

Gu Jing to Release FY2025 Earnings on April 29 During-Market (BJT), Forecast Revenue CNY 19.3 B

Gu Jing released FY2025 Q3 earnings on October 30 After-Market (BJT), actual revenue HKD 2.782 B (forecast HKD 3.899 B), actual EPS HKD 0.6165

Gu Jing released FY2025 9 Months Earnings on October 30 After-Market (BJT), actual revenue HKD 17.76 B, actual EPS HKD 8.0979

Gu Jing to Release FY2025 Q3 Earnings on October 31 After-Market (BJT), Forecast Revenue CNY 4.421 B

Gu Jing released FY2025 Semi-Annual Earnings on August 29 Pre-Market (BJT), actual revenue HKD 15.03 B, actual EPS HKD 7.5034

Gu Jing released FY2025 Q2 earnings on August 29 Pre-Market (BJT), actual revenue HKD 5.181 B (forecast HKD 5.262 B), actual EPS HKD 2.7584

Gu Jing FY2025 Semi-Annual Earnings Release on August 30, 2025 (Beijing Time)

Gu Jing released FY2025 Q1 earnings on April 27 After-Market (BJT), actual revenue HKD 9.795 B (forecast HKD 8.949 B), actual EPS HKD 4.723

Gu Jing to release FY2025 Q1 earnings on April 28 After-Market (BJT), forecast revenue CNY 8.949 B

Gu Jing to release FY2024 earnings report on April 28 Pre-Market (BJT), forecast revenue CNY 23.73 B

Analysis of Baijiu Sector Market Performance and Future Catalysts

Gu Jing released FY2024 Q4 earnings on April 8 Pre-Market (BJT), actual revenue HKD 4.797 B (forecast HKD 4.252 B), actual EPS HKD 1.5523

Gu Jing released FY2024 annual earnings on April 8 Pre-Market (BJT), actual revenue HKD 25.52 B (forecast HKD 23.73 B), actual EPS HKD 11.301

Gu Jing released FY2024 9 Months Earnings on October 30 After-Market (BJT), with actual revenue of 20.74 BHKD and EPS of 9.7613 HKD

Gu Jing released FY2024 Q3 earnings on October 30 After-Market (BJT), actual revenue HKD 5.834 B (forecast HKD 5.324 B), actual EPS HKD 2.4609

Anhui Gujing Distillery Co., Ltd. to Announce Q3 2024 Earnings on October 31, 2024

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On October 31st, regarding the reasons for the decline in third-quarter performance, a reporter called the Gu Jing Securities Department as an investor. The relevant staff stated that the decline in third-quarter performance was mainly affected by the overall environment of the liquor market. At the same time, "the company actively controlled the pace to better develop channels and digest market inventory."

Zhitong

Gu Jing's net profit in the third quarter fell by 70% year-on-year, the company responded: mainly affected by the overall environment of the liquor market

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The liquor sector weakened, with Huangtai Wine down 2.75%, Gu Jing down 1.68%, and Moutai down 1.29%

Moutai

Huangtai Wine

According to the Zhitong Finance APP, Gu Jing released its semi-annual report for 2025, showing an operating income of 13.88 billion yuan, a year-on-year increase of 0.54%. The net profit attributable to shareholders of the listed company was 3.662 billion yuan, a year-on-year increase of 2.49%. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 3.626 billion yuan, a year-on-year increase of 2.42%. The basic earnings per share were 6.93 yuan

Gu Jing released its performance for the first half of the year, with a net profit attributable to the parent company of 3.662 billion yuan, an increase of 2.49%

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The A-share liquor sector experienced a surge, with Gu Jing rising over 4%, and Shede Spirits, SHANXI FEN WINE, YLT, and JGJC following suit

Shede Spirits

SHANXI FEN WINE

JGJC

CITIC Securities recently pointed out in a research report that Gu Jing held its 2024 annual shareholder meeting, where it raised issues such as the current industry growth pressure, large inventory, and unstable prices, which have long existed. The company is facing industry difficulties and is actively responding with both internal and external measures. It focuses on Gu 20/Gu 16/Gu 8 and integrates old Gu liquor, promoting provincial sectorization. The management team has experience in navigating through cycles, and the current valuation is clearly underestimated. It maintains earnings per share for 2025-2027 at 11.54, 12.79, and 13.98 yuan, respectively, and gives a "strong buy" investment rating

CMSC

CITIC Securities: Gu Jing is currently significantly undervalued, rated "Strong Buy"

According to the Zhitong Finance APP, Gu Jing disclosed its first-quarter report for 2025, showing that the company achieved revenue of 9.146 billion yuan during the reporting period, a year-on-year increase of 10.38%; net profit attributable to shareholders was 2.33 billion yuan, a year-on-year increase of 12.78%; net profit excluding non-recurring items was 2.312 billion yuan, a year-on-year increase of 12.78%. Basic earnings per share were 4.41 yuan

Gu Jing released its first-quarter performance, with a net profit attributable to the parent company of 2.33 billion yuan, a year-on-year increase of 12.78%

According to the Zhitong Finance APP, Gu Jing announced its 2024 annual performance preliminary report. During the reporting period, the company's performance showed steady growth, achieving total operating revenue of 23.578 billion yuan, an increase of 16.41% compared to the same period last year, and a net profit attributable to shareholders of the listed company of 5.514 billion yuan, an increase of 20.15% compared to the same period last year

Gu Jing's net profit attributable to the parent company for the year 2024 is 5.514 billion yuan, a year-on-year increase of 20.15%

According to the Qichacha APP, recently, Anhui Guqi Liquor Sales Co., Ltd. was established, with Ju Kai as the legal representative and a registered capital of 5 million yuan. The business scope includes: personal internet live streaming services; business training, etc. Qichacha's equity penetration shows that the company is wholly owned by Anhui Guqi Liquor Co., Ltd., which is held by Gu Jing and CAMUS HOLDINGS with respective shares of 60% and 40%

Gu Jing invested to establish a new company for liquor sales

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Baijiu stocks rose at the beginning of trading, with Shanghai Guijiu up over 5%, and YINGJIA DISTILLERY, Gu Jing, SHANXI FEN WINE, and LZLJ all rising

LZLJ

Shanghai Jundao

YINGJIAGONGJIU

Baijiu stocks rose at the beginning of the trading session, with Shanghai Guijiu up over 5%

According to the announcement from Gu Jing, the company's 2024 interim equity distribution plan is: based on the current total share capital of the company, a cash dividend of RMB 10 (including tax) will be distributed to all shareholders for every 10 shares held. The A-share equity registration date for this dividend distribution is January 23, 2025, and the ex-dividend date is January 24, 2025

Gu Jing 2024 mid-term equity distribution: 10 yuan for every 10 shares

Gu Jing(200596.SZ)