Intensive research! Wuliangye engaged with over 100 institutional investors in four days, providing the first detailed explanation of "one product, one policy" + revealing new industry trends

National Business Daily Reporter: Xiong Jianan    Editor: Xiao Ruidong

At a critical juncture as the Baijiu industry enters a period of deep adjustment, the strategic resolve and tactical pathways of leading companies are often more valuable for observation than short-term performance.

From March 24 to March 27, Wuliangye engaged with 110 institutional investors—including E Fund, China Merchants, Penghua, and others—through analyst meetings, roadshows, and brokerage strategy sessions. Over four days, covering public funds, insurance, foreign investment, and securities firms, this high-level communication became an important window for Wuliangye to convey its industry judgments and response logic to the outside world.

In this exchange, Wuliangye not only systematically explained its differentiated product strategy of “One Product, One Policy” for the first time but also released many key messages on core topics such as breaking into younger consumer groups, sports marketing channel layout, and new tracks in instant retail.

Three major logical supports underpin industry confidence: the concentration of leading brands benefits from increased market share, supported by three core rationales

Currently, the Baijiu industry as a whole is undergoing structural adjustment, with “volume decline and profit increase,” and the Matthew effect becoming more pronounced. From 2016 to 2024, cumulative production volume decreased by 69.5%, while sales revenue and total profit continued to rise year over year.

Faced with the ongoing slowdown in traditional consumer demand, most listed liquor companies saw accelerated declines in performance in the first three quarters of 2025, with some regional liquor companies’ net profits approaching triple digits, and industry segmentation continuing to intensify.

In discussions with institutional investors, as a leader in strong aroma Baijiu, Wuliangye provided a clear judgment on industry development logic.

Wuliangye believes that the Baijiu industry always exhibits long-term wave-like progress and spiral upward characteristics. In the short term, industry adjustment pressures must be objectively recognized, but in the long term, it is essential to steadfastly follow industry development laws, as the industry will ultimately return to a healthy growth track.

Supporting this view are three continuously reinforced underlying logics: stronger resilience of the economic foundation, greater policy efforts to expand domestic demand, and higher certainty in consumer upgrading trends.

Especially at the policy level, the brewing industry has received historic favorable policies. In October 2025, the brewing industry was officially designated as a “historic classic industry” for the first time, marking a fundamental turning point in alcohol policy orientation; before the Spring Festival in 2026, the “Guiding Opinions on Improving and Upgrading the Brewing Industry (2026–2030)” was released, explicitly positioning the brewing industry as “a traditional advantageous industry and basic livelihood industry of China”; the 2026 government work report continued systematic arrangements to boost consumption, proposing in-depth implementation of special actions to stimulate consumption.

Wuliangye stated that the company will deeply benefit from national policies on cultural inheritance, quality upgrading, and consumption stimulation. During industry cyclical adjustments and the accelerated increase in market concentration, the company will further consolidate and strengthen its leading position.

First detailed explanation of “One Product, One Policy,” with a 39-degree product establishing an integrated operation team

Wuliangye views the industry adjustment period as a key window for high-quality resources to rapidly concentrate into leading brands. So, how can strategic judgments be translated into market results?

Wuliangye revealed that during the Yuan Chun Festival this year, its core products achieved good sales momentum, mainly driven by the company’s focus on steadily increasing market share through refined and differentiated operations centered on “One Product, One Policy.”

On the product side, the company adheres to the “one core, two supports, two drives, and one new” strategy: using the eighth-generation Wuliangye as the core to anchor the high-end basic market; elevating brand stature with the classic series and Ziqi Donglai as two supports; expanding multiple price segments and consumption scenarios with Wuliangye 1618 and Wuliangye 39 degrees as two drives; and targeting young, female consumers with the innovative Wuliangye·Yijian Qingxin as a new breakthrough.

The eighth-generation Wuliangye launched a consumer bottle-opening scan activity. After consumers scan the bottle cap effectively, they receive reverse incentives at the terminal, directly opening a positive cycle of “consumer sales—terminal profit.” Wuliangye 1618 implements “one city, one policy,” with layered reverse incentives, and classifies and grades to seize high-quality terminal resources. The 39-degree Wuliangye established an integrated operation team through organizational innovation, focusing on core regions around the Bohai Sea and Taihu Lake, developing exclusive sales plans, and promoting consumer cultivation and terminal network construction through a BC linkage model.

Notably, in balancing volume and price, Wuliangye demonstrates sufficient resolve and rhythm. As the company’s flagship product, the eighth-generation Wuliangye adheres to the core principles of “volume-price balance, structural optimization, and high-quality service,” continuously consolidating its leading position in the thousand-yuan price segment. Relying on digital tools, the company implements refined control throughout the entire process: dynamically adjusting planned volumes, precisely executing channel policies, strengthening full-chain management from production to terminal, ensuring reasonable channel profits, and stabilizing market prices.

Additionally, the company deepens consumer engagement through scan code benefits activities, such as World Cup ticket lotteries and travel privileges, which increase bottle-opening rates and accumulate vast amounts of real consumer data, laying a foundation for subsequent precise marketing and community operations, transforming from “selling products” to “managing users.”

Comprehensive layout of C-end consumption, reaching young consumers through sports events

Against the backdrop of deep channel restructuring and the continuous rise of consumer sovereignty, the competition focus among Baijiu brands is accelerating from channel stocking to terminal operation, and from B-end battles to C-end engagement. For leading companies, those who can reach consumers more efficiently will gain the initiative in stock competition.

After the Spring Festival, major liquor companies like Moutai, Fenjiu, and Shede shifted their thinking: centering on consumers.

In response, Wuliangye proposed “upgrading the channel system and fully deploying C-end consumption.” The company stated that it will focus on “refining traditional channel operations, strengthening new channel scale growth, and improving e-commerce channel quality,” continuously promoting channel network upgrades toward refinement, diversification, and shorter supply chains, to achieve deep engagement with C-end consumers.

In traditional channels, Wuliangye emphasizes meticulous cultivation, creating immersive terminal networks. By continuously optimizing the “Three Shops, One House” channel layout, establishing new specialty stores, experience stores, and Wuliangye restaurants, and deepening channel sinking and scene penetration. Notably, in strategic markets like Yibin, Hangzhou, and Chengdu, the company innovated with new terminal formats such as Wuliang·Zizao Trend Experience Stores and West Lake Trend Drinking Stores, breaking the stereotypical image of traditional Baijiu channels and building vertical touchpoints aimed at young and female consumers, forming a complete “terminal traffic—consumer cultivation—community sedimentation” closed loop.

For emerging channels, Wuliangye is leveraging sports marketing as a breakthrough to open new incremental paths. Using the World Cup IP as a strategic fulcrum, the company has built a sports marketing channel matrix covering Wuliangye, strong aroma liquor, and Xianlin wine, entering platforms like JD Sports Event Zone to precisely reach young sports consumers. Meanwhile, the group-buying channel continues to deepen, with nearly 4,000 corporate visits under the “Famous Liquor into Famous Enterprises” project, effectively expanding high-net-worth corporate customer networks and improving B-to-C channel conversion efficiency.

In e-commerce, Wuliangye focuses on quality improvement and efficiency, actively deploying in the instant retail new track. The company established a dedicated e-commerce operation team, deepened strategic cooperation with leading platforms, and fully entered platforms like JD Flash Delivery and Meituan Flash Purchase, building a “online ordering, instant delivery” short supply chain. This layout not only covers instant consumption scenarios but also effectively shortens channel levels, achieving zero-distance contact with end consumers.

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