At a Sept. 18, 2026 interim results briefing, Jiugui Liquor GM Cheng Jun said the distributor base is stable and most dealers are long-term partners. He said the decline in distributor numbers mainly reflects small dealers exiting due to market conditions and company-led network optimization and will not affect overall sales. Cheng said the partnership with retailer Pang Donglai is a new-channel expansion that has delivered visible positive results and will not disrupt traditional channels or da

At a Sept. 18, 2026 interim results briefing, Jiugui Liquor GM Cheng Jun said the distributor base is stable and most dealers are long-term partners. He said the decline in distributor numbers mainly reflects small dealers exiting due to market conditions and company-led network optimization and will not affect overall sales. Cheng said the partnership with retailer Pang Donglai is a new-channel expansion that has delivered visible positive results and will not disrupt traditional channels or damage brand value.