A new promotional campaign for a product named "Blue and White 25 Flower God Decree" on an official Fenjiu flagship store on an e-commerce platform has attracted widespread attention, as the store promised to buy back the product at double the actual payment amount after two years, leading to jokes that "baijiu has become a financial product." The full name of the product is "Fenjiu Shanxi Xinghuacun Fenjiu 53% Vol. Blue and White 25 Flower God Decree Baijiu 225ml*2 Bottles Gift Box." The product page indicates that eligibility is limited to orders successfully paid between 00:00 on January 1, 2026, and 24:00 on January 8, 2026; the buyback value is "double your payment amount (not exceeding the new product price of 489 yuan)." If calculated based on a "double-price buyback after two years," the product's annualized return would be close to 50%. Notably, the activity is limited to 200 boxes per day, with a total release of 1,600 boxes, and each ID is limited to one order (i.e., one box). At a unit price of 489 yuan per box, the total value of 1,600 boxes is 782,400 yuan. The product page introduction states, "This is a limited edition time investment. We are offering a daily reservation of only 200 slots at the new product launch price..." As of the evening of January 6, the page showed that "1000+" had already been sold. Furthermore, the product page also highlighted key conditions that must be met, including four aspects: 1. The product must be originally sealed and unopened, with intact packaging (gift box, bottle body, seal, etc.); 2. The bottle markings and anti-counterfeiting codes must be clear; 3. There must be no leakage, severe damage, or man-made damage; 4. The original purchase order must be retained. The page also noted that this new product is a pre-sale item and will be shipped within 30 days after successful payment. At 00:00 on January 6, a reporter promptly accessed the aforementioned product page and found the product sold out instantly, with the page displaying "The product is already sold out." Shortly after, the page then showed "The product has been delisted." In the store's live broadcast room, the product was similarly shown as delisted. It is important to point out that in the afternoon of January 6, the reporter accessed the "Blue and White 25 Flower God Decree" promotion page again, and the activity was relisted, scheduled to go on sale again at 00:00 on January 7. Regarding the aforementioned promotional activity, on January 6, a reporter, posing as an investor, called the investor hotline of Shanxi Xinghuacun Fenjiu Factory Co., Ltd. (Shanxi Fenjiu, 600809.SH). The relevant staff member stated, "This product should no longer be visible, right?" Subsequently, the staff member added, "Please contact the sales company for specifics." The reporter then called the Fenjiu sales company phone number provided by the staff member. The relevant personnel there said, "For specific product inquiries, please contact the e-commerce department." When the reporter called the e-commerce department number provided by that staff member, the person answering the call stated, "We are not clear about online platform activities; please contact the store customer service." Furthermore, this staff member confirmed that the store running the activity is an authorized Fenjiu store. Subsequently, the customer service personnel for this "Fenjiu Official Flagship Store" stated, "The promotional activity is run by the store and is currently still available for participation," and reminded that "the activity involves product verification passing after two years, followed by a double buyback based on the order's actual payment (not exceeding 489 yuan)." At 00:00 on January 7, the reporter entered the promotion page again and found the product still sold out instantly ("seconds out"), with the page showing "The product has been delisted." Regarding this promotional activity, the store's customer service personnel stated, "The activity will run for one more day on January 8; please feel free to follow the product's status." It is understood that during the 2025 Fenjiu Global Distributor Conference held in December last year, Fenjiu launched the new "Blue and White Fenjiu 25 · Flower God Decree" product. According to official website information, Shanxi Fenjiu was established through restructuring in December 1993 and was listed on the Shanghai Stock Exchange in January 1994, making it the first baijiu stock and the first stock from Shanxi province. The company's main business is the production and operation of Fenjiu and Zhuyeqing Liquor. The company is one of the formulators of the national standard for light-flavor baijiu. Its main product, Fenjiu, is a typical representative of light-flavor baijiu in China, and Zhuyeqing Liquor is a famous health-preserving liquor. According to the third-quarter report, the company's largest shareholder is Shanxi Xinghuacun Fenjiu Group Co., Ltd., holding a 56.65% stake. In terms of performance, the 2025 third-quarter report showed that Shanxi Fenjiu achieved operating revenue of 32.924 billion yuan in the first three quarters, a year-on-year increase of 5.00%; net profit attributable to shareholders was 11.405 billion yuan, a year-on-year increase of 0.48%. Specifically, the third quarter saw operating revenue of 8.960 billion yuan, up 4.05% year-on-year, while net profit attributable to shareholders was 2.899 billion yuan, a decrease of 1.38% year-on-year. According to Wind data, Shanxi Fenjiu's revenue and net profit for the first three quarters both hit record highs, but the growth rates were the lowest since 2016. Additionally, the year-on-year decline in net profit for the third quarter was the first since 2015. According to DZH VIP, as of the close on January 6, Shanxi Fenjiu's share price was 179.09 yuan per share, an increase of 1.19%, with a total market capitalization of 218.5 billion yuan.
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