Huatie Media's Lu Liming Questions Liquor Firms' Profit Claims Despite High Margins

Deep News03-18 14:51

During the "New Consumer Forum: Understanding Consumer Logic" session at the 2026 Annual Meeting of the China Entrepreneurs Forum in Yabuli on March 18, Lu Liming, Founder and Chairman of Huatie Media Group, shared his views.

In a discussion, Tang Hui, President of Shede Spirits Co., Ltd., remarked that the current year might be the most challenging period for the baijiu industry in two decades.

In response, Lu Liming humorously commented, "Looking at your financial reports, I see gross profit margins of over 90% or 80%—yet you claim not to be making money. How are other businesses supposed to survive under such conditions?"

Tang Hui promptly replied, "The margins are not that high now."

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