Baijiu Reports H1 Revenue of RMB1.658 billion, Net Profit RMB479m; Private Placement for Whisky Expansion

Baijiu Co. , Ltd. released its 2026 interim report on August 5. During the reporting period, the company achieved operating revenue of RMB1.658 billion, an increase of 11.34% year-on-year; net profit of RMB479 million, up 23.08%; and net profit excluding non-recurring items of RMB453 million, up 27.29%. The company's main businesses cover alcoholic beverages and edible flavors, with alcoholic products being the core segment.

From January to June 2026, alcoholic products generated operating revenue of RMB1.43 billion, up 10.23% year-on-year, accounting for 88% of total revenue. Alcoholic products are divided into ready-to-drink cocktails and spirits. The cocktail business is led by the RIO brand, with lines including Weixun, Qing Shuang, and Qiang Shuang, available in 250mL to 500mL cans and glass bottles. The spirits business is operated by Laizhou Distillery, which has launched Laizhou single malt whisky, Bailide single blended whisky, Jiaoyu gin, and Linglie vodka.

In the first half of 2026, alcoholic product output reached 16.4259 million cases, up 9.5% year-on-year; sales volume was 16.2076 million cases, up 7.82%. Ending inventory stood at 1.5234 million cases, up 42.16% from the same period in 2025, mainly due to greater product variety. During the period, the Weixun line launched a grapefruit green tea flavor across all channels, while the Qiang Shuang line introduced its first zero-sugar tea spirit. In spirits, Laizhou Distillery released Laizhou PX Sherry Cask Strength single malt whisky in February 2026, bringing cumulative filled barrels to over 600,000 by the end of the first half. The company also developed a mass-market white spirit product for younger consumers, which began rolling out in July 2026.

In June 2026, Baijiu announced a private placement plan to issue shares to specific investors, raising no more than RMB1.305 billion for a malt whisky barrel-aging expansion project and an RD and testing center. The total investment for the barrel project, including oak barrel purchases, transportation, and contingency costs, is RMB1.36 billion, with RMB1.14 billion to come from the proceeds. On July 7, the company held an extraordinary shareholder meeting to consider the proposals, and they were approved. Voting results for minority investors showed more than 25 million shares against, representing about 16% of the total voting shares held by participating minority investors.