Gujing Gongjiu released its 2026 semi-annual report. In the first half, it achieved operating revenue of 10.131 billion yuan, down 27.01% year on year, while net profit attributable to shareholders of the listed company was 2.164 billion yuan, a year-on-year decline of 40.89%. Among these, the Year Original Pulp series, which is the absolute mainstay, achieved revenue of 7.965 billion yuan, down 27.32% year on year, contributing about 78% of the company's revenue and serving as the key factor dragging down performance. The Gujing Gongjiu series recorded revenue of 1.052 billion yuan, down 11.14% year on year, while Huanghelou and other series recorded revenue of 979 million yuan, down 34.57% year on year. By quarter, first-quarter revenue was 7.446 billion yuan, down about 18.6% year on year, while second-quarter single-quarter revenue was only 2.69 billion yuan, with the year-on-year decline widening to 43.3%, and net profit was 558 million yuan, plunging 58.1% year on year. The company said the baijiu industry is in a period of deep adjustment, with business banqueting and gifting demand contracting significantly. The company is actively working through inventory, and some markets outside its home province, such as Jiangsu, are showing signs of stabilising. On 28 August, Gujing Gongjiu shares closed up 1.88% at 93.90 yuan.
Anhui Gujing Distillery Co LtdRevenue and net profit fell sharply due to contracting demand for business banqueting and gifting.
