Hebei Hengshui Laobaigan Liquor Co., Ltd. released its 2026 semi-annual report on August 28. In the first half of the year, operating revenue was 2.104 billion yuan, down 15.23 percent year on year, and net profit attributable to shareholders of the listed company was 262 million yuan, down 18.47 percent. Net profit after deducting non-recurring items was 252 million yuan, down 14.85 percent. The company said the decline stemmed from intensifying industry competition and slowing end-market sales, consistent with the overall trend in Hebei's baijiu industry. In the first half, enterprises above designated size in the province recorded operating revenue of 3.222 billion yuan, down 15.4 percent year on year, and total profit of 367 million yuan, down 50.1 percent. Despite the declines in revenue and net profit, net cash flow from operating activities turned from negative 45.8 million yuan in the same period last year to 191 million yuan, indicating improved inventory digestion and channel collections. As a regional leader, Laobaigan Liquor faces dual pressure from national famous brands pushing into lower-tier channels and intensifying competition within the province. Whether it can reach an inflection point in performance in the second half of the year deserves attention.
Hebei Hengshui Laobaigan Liquor Co LtdH1 revenue fell 15.23% and net profit fell 18.47% year on year, a clear earnings decline.
