Luzhou Laojiao Company Limited (000568.SZ) has released its semi-annual report for 2026, revealing a challenging first half marked by significant declines in both revenue and profitability.

During the reporting period, the company recorded total operating revenue of RMB 10.472 billion, representing a year-on-year decrease of 36.35%. Net profit attributable to shareholders of the listed company stood at RMB 4.339 billion, down 43.37% compared to the same period last year. After excluding non-recurring gains and losses, the net profit attributable to shareholders reached RMB 4.291 billion, a decrease of 43.90% year-on-year. Basic earnings per share amounted to RMB 2.95.

Despite the headwinds, the company has firmly advanced its strategic framework centered on the "dual brands, three product lines, and key large SKUs" initiative. The premium positioning of its Guojiao 1573 series as a value benchmark in the high-end baijiu segment continues to be reinforced. Meanwhile, the Luzhou Laojiao series maintains comprehensive coverage across the sub-premium, mid-range, and entry-level price tiers, while the health-focused liquor, innovative liquor, new retail channels, and overseas markets are being cultivated with greater precision. As a result, the brand's distinctiveness and intrinsic value have seen substantial enhancement.