Luzhou Laojiao (000568) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was ¥10.47 billion, down 36.35% year-over-year; net profit attributable to shareholders was ¥4.34 billion, down 43.37% year-over-year.

• The company faced industry-wide headwinds: weak consumption, increased channel inventory, and intensified competition.

• Strategic focus included deepening regional marketing, product innovation, digital operations, and brand building.

Financial highlights

• Operating income: ¥10.47 billion, -36.35% year-over-year.

• Net profit attributable to shareholders: ¥4.34 billion, -43.37% year-over-year.

• Operating cash flow: ¥2.08 billion, -65.68% year-over-year.

• Basic and diluted EPS: ¥2.95, -43.38% year-over-year.

• Gross margin for main business: 85.51%.

Outlook and guidance

• Plans to strengthen digital marketing, optimize product structure, and enhance supply chain resilience.

• Focus on brand differentiation, technological innovation, and digital management upgrades in H2 2026.