What can be achieved in 200 days? Enough time for a seed to take root, sprout, bloom, and bear fruit. In the liquor industry, 200 days is also sufficient to create a blockbuster product and build a "highway" for sales.
Since May this year, Wu Xiangdong, the leader of ZJLD, has hosted over 70 forums, gathering more than 3,800 of China’s top liquor sellers. Through these efforts, the new product *Da Zhen* (Great Zhen) achieved sales of 580 million yuan, becoming a standout in the industry.
These 200 days mark a pivotal period for Wu and ZJLD, as they embarked on a "re-entrepreneurship" journey with *Da Zhen* and the *Wan Shang Alliance* (Ten Thousand Merchants Alliance). This initiative is poised to become a turning point in China’s liquor market cycle.
**The Key to Breaking the Liquor Cycle** Wu Xiangdong is arguably the most fitting figure to witness the evolution of China’s liquor industry over the past 30 years. Starting in the 1990s, he first drank, then sold, and eventually brewed liquor. He founded Huazhi Wine, China’s largest liquor distribution network, and now leads ZJLD, the first Hong Kong-listed baijiu company.
The current industry downturn, which began in 2022, has lasted longer than the 2013 slump. By the first half of 2025, market sentiment had reached its lowest point. Having weathered multiple cycles, Wu knows that while downturns eventually reverse, the new era demands fresh approaches.
Enter *Da Zhen*, which quickly topped sales charts for mid-to-high-end liquor and became one of 2025’s most significant new products.
**A New Benchmark Product with a New Model** To break away from traditional distribution practices—where inventory is pushed downstream—*Da Zhen* adopted a consumer-centric approach. In May, Wu launched the *Wan Shang Alliance* in Zunyi, Guizhou. Over 200 days, 70+ forums were held, attracting merchants who truly understood ZJLD, *Da Zhen*, and the future of liquor sales.
Wu describes this as assembling China’s best liquor sellers into a "sales highway." Among them is 74-year-old Hou Qiuhua, the alliance’s eldest member, who has partnered with Wu since 1998. In under 200 days, she sold 500 cases of *Da Zhen* by targeting corporate clients.
Another standout is Zheng Haonan, a Gen-Z entrepreneur from Hangzhou who entered the industry through *Da Zhen*. Meanwhile, a merchant from Shaoxing was so impressed that he invested 50 million yuan in ZJLD stock, drawing parallels to his earlier success with Kweichow Moutai.
These stories were shared in Wu’s December 9 livestream, *"Our 200 Days,"* which drew 9.78 million viewers, 3.4 million likes, and a peak of 380,000 concurrent users.
**Why Did *Da Zhen* Succeed?** Wu revealed the alliance’s achievements: 200 days, 71 forums, 9,481 participants, 3,816 signed clients, and 580 million yuan in *Da Zhen* sales. In an industry where new products typically take three years to hit 500 million yuan, this is nothing short of a miracle—earning *Da Zhen* the nickname "a fire in the liquor winter."
The product’s success stems from its blend of heritage and innovation. Building on the popularity of Zhenjiu’s *Real Vintage* series during the 2024 downturn, *Da Zhen* (officially *Zhenjiu 2020 Real Vintage*) offers quality rivaling Feitian Moutai, striking packaging, and a high-end yet competitively priced proposition.
The *Wan Shang Alliance* revolutionized distribution by eliminating inventory pressure and focusing on sell-through. Merchants order new stock only after selling their current batch, ensuring efficiency and last-mile delivery.
To prevent cutthroat competition, ZJLD implemented a grid-based management system, supporting regional alliances. So far, 61 have formed, with a target of 1,000.
Alliance members aren’t just distributors but stakeholders. Beyond sales profits, they receive ZJLD trust-beneficiary shares. Early signees already hold 16,000 shares worth 115,000 yuan at current prices.
Strict rules—the "Six No’s" (no underpricing, no online sales, no bundling, no sub-distribution, no cashback discounts, no bartering)—maintain price integrity and profitability. Violators face penalties or expulsion; 123 warnings and 150 terminations have been issued to date.
**IP Strategy: A Game-Changer** Wu’s personal branding efforts have been pivotal. Since July, his five livestreams and 118 videos—delivered with his signature smile and Hunan-accented Mandarin—have amassed 300 million+ views. In November, he topped *Zhenghe Island*’s *Entrepreneur Video IP 100* list, surpassing figures like Yu Minhong and Lei Jun.
Unlike other celebrity CEOs, Wu’s IP directly drives merchant recruitment, consumer engagement, and sales, making it one of the most conversion-effective in the industry. He also encourages alliance members to leverage his brand for their businesses.
***Da Zhen* Is Just the First Battle** After 200 days, Wu’s "sales highway" is taking shape, and *Da Zhen* has secured its place as a blockbuster. Over the next six months, the alliance aims to recruit 5,000 premium merchants while refining ZJLD’s structure to enhance consumer services. The goal: scale *Da Zhen* into a 30-billion-yuan superstar.
But Wu’s ambitions extend further. ZJLD’s roadmap includes four mega-products: *Da Zhen*, the newly launched *Bull Market Beer*, a low-alcohol beverage, and a women’s wellness drink.
*Bull Market Beer*, released in August, trended on Douyin and became the top-selling premium beer at launch. Next, Wu plans an even pricier brew (100 yuan above *Bull Market*) and a dedicated beer distribution network.
The low-alcohol drink, as Wu hints, could be consumed liberally without triggering drunk-driving tests. Meanwhile, the women’s line taps into a booming niche, inspired by the viral success of competitors like Jinjiu.
**The Future: Integrated Beverage Empire** If the past 30 years saw China’s liquor market diversify (baijiu, beer, spirits), the next 30 will focus on integrated operations—mirroring global giants like Diageo and AB InBev. ZJLD, already a pioneer with three aroma types and four brands, is now expanding into beer.
In the era of scenario-based consumption, success hinges on deep user engagement, transcending categories and aromas to forge brand-consumer bonds—precisely what *Da Zhen* and the *Wan Shang Alliance* exemplify.
With *Da Zhen* on track and *Bull Market Beer* gaining momentum, Wu and ZJLD are poised for their next battles. Each campaign hones their team, refines their model, and strengthens their network of top sellers and premium consumers—keys to enduring industry cycles.
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