Special Feature: Cheers for the Chinese Economy—2025 Entrepreneur Night Gala
Wu Xiangdong, Chairman of ZJLD Group and Huazhi Wine Shop, attended the event held in Beijing on January 29th to receive the tribute. Zhang Yuliang, Chairman and President of Greenland Group; Zhou Yanlong, Party Committee Secretary, Director, and General Manager of Quanjude Group; and former UN Under-Secretary-General Kim Won-soo were present to witness the honor.
Witnesses delivered speeches: Kim Won-soo: I visited ZJLD a year ago. Its brewing technique is unique, its management is scientific and standardized, and its production capacity is massive. This wine is a masterpiece crafted from craftsmanship, technology, and nature. Zhang Yuliang: I hope that ZJLD will continue to provide more high-quality products and services for the country, the baijiu industry, and consumers in the future, whether facing challenges or sunshine. Zhou Yanlong: As representatives of the real economy, even the traditional service sector's real economy, let us work together to win over more consumers and more media to applaud the real economy and the Chinese economy. I believe that under new consumption models, we will certainly have a brighter future.
Wu Xiangdong's acceptance speech: Wu Xiangdong: I hope that Chinese national products can continue to thrive, not only deepening their roots in China but also stepping onto the international stage. I hope more people around the world will come to enjoy our baijiu.
As the baijiu industry enters a period of deep adjustment, challenges such as the restructuring of consumption scenarios, the alienation of younger demographics, and intensified homogeneous competition arrive one after another. While some choose to retrench and others rush to break boundaries through diversification, Wu Xiangdong, Chairman of ZJLD Group and Huazhi Wine Shop, has charted a unique development path amidst the industry's transformation, characterized by a posture of going with the flow and the courage to defy the odds.
From founding the "Jinliufu" brand in 1998, which stirred the baijiu market, to now creating two listed companies, ZJLD and Huazhi Wine Shop, and building a diversified beverage ecosystem encompassing baijiu, beer, and low-alcohol drinks, this entrepreneur with nearly 30 years in the industry has consistently navigated industry cycles with the初心 of a product manager and the courage of an innovator.
"Drinking only our own products every day" Mention Wu Xiangdong, and few in the baijiu industry are unfamiliar with him. With nearly three decades in the sector, Wu has written numerous commercial legends凭借 his keen business acumen and pragmatic approach.
In 1996, Wu Xiangdong formally entered the baijiu industry, founding the "Jinliufu" brand two years later. Through precise market positioning and innovative marketing models, "Jinliufu" rapidly swept the nation, becoming a memory for a generation.
Over the following decades, he strategically expanded, successively acquiring and establishing over ten wineries, including Jiangxi Lidu Wine and Guizhou Zhenjiu Brewery Co., Ltd., and founding Huazhi Wine Shop in 2005. In 2019, he led Huazhi Wine Shop to an listing on the Shenzhen Stock Exchange, making it China's first A-listed liquor distribution company. In 2023, he led ZJLD to an listing on the Hong Kong Stock Exchange, making it the "first baijiu stock on港股."
Thus, Wu Xiangdong built his own "beverage empire," underpinned始终 by the pragmatism and通透 characteristic of Hunan businesspeople. He never pursues short-term gains but believes in long-termism, insisting on steady and sustained efforts whether in brand building or industrial layout.
This trait permeates the entire process of his personal branding. In Wu's view, entrepreneurs building a personal IP is never about seeking attention but is an efficient communication method. "This actually reduces our communication barriers and costs with the outside world, improving efficiency, whether with internal employees, partners, or consumers."
"My foray into personal IP was also quite coincidental; partly it's the general trend, as many leading entrepreneurs before me have built IPs and done it well, they paved a way," Wu recalled. "Once during a meal, a friend secretly filmed a video of me, edited it, showed it to me, and asked if it could be published. I said go ahead, and unexpectedly, it just took off from there."
According to Wu, his personal short-video account has released 150 pieces of content. Since starting the account last July, it averages about 3 to 5 million daily views, peaking at over 10 million. "I drink our own products every day, which certainly brings greater credibility and makes consumers more assured."
"I don't really like involution" The持续 impact of his personal IP has injected new vitality into ZJLD's brand communication. Simultaneously, Wu Xiangdong has not halted his strategic布局, instead leading the company to accelerate cross-border innovation and upgrade its development model, striving to solidify its foundation during the industry's adjustment period and seize future opportunities.
The launch of Niushi Beer is a crucial step in Wu's cross-border strategy. Discussing the初衷, Wu stated the core purpose is to break industry boundaries and meet consumers' diversified and personalized demands. "Our company's positioning has never been solely as a baijiu company, but as a beverage company. Baijiu is our current top priority, but in the future, we hope to become a world-class alcoholic beverage company."
In his view, homogeneous competition in the baijiu industry is increasingly fierce, and only innovation can seize the initiative. "I don't really like involution; I prefer doing differentiated things. This beer pursues extreme differentiation from ingredients to工艺."
Wu revealed that the investment in ingredients for Niushi Beer is堪称 "luxurious": the hops are selected top varieties from the Yakima Valley in the US, costing nearly 700,000 RMB per ton, with usage 20 times that of ordinary beer, resulting in costs 400 times higher, creating a rich and unique taste. Priced at 60 RMB for a 375ml规格 on JD.com, it balances high quality with cost-effectiveness.
With the launch of Niushi Beer, ZJLD has formally established a dual-core business model of baijiu + beer. Furthermore, ZJLD is making breakthroughs in brand rejuvenation and product diversification. Wu透露 that the company is developing low-alcohol beverages featuring low alcohol content, low calories, and high vitamins, slated for launch as early as this year, precisely meeting the health needs of younger groups.
"Young people will eventually feel the charm of baijiu" While leading ZJLD towards steady development and持续 breakthroughs, Wu Xiangdong also consistently examines the present and future of the baijiu industry from the perspective of an observer and practitioner. Currently, the industry is in a deep adjustment phase, troubled by issues like consumption scenario restructuring and younger demographics' alienation. However, in his view, the adjustment period is also an opportunity period, and the future of the baijiu industry remains full of promise.
"Baijiu is now at a crossroads between past consumption and future consumption," Wu analyzed. In the past, much baijiu consumption was about pleasing others, choosing expensive over right; now, the consumption mindset has shifted towards pleasing others, pleasing oneself, and enjoying life. Gathering with old friends is about satisfying guests but, more importantly, making oneself happy. This shift is driving the industry's transition from prestige consumption to rational consumption.
He believes that in the future, baijiu will integrate more into daily life, becoming a carrier of lifestyle and pairing well with scenarios involving fine food and music. "As a Chinese quintessence, baijiu has profound cultural heritage. The Lidu fermentation pits are a testament to baijiu's history. Moreover, compared to developed countries, China's per capita alcohol consumption still has significant room for growth, which fills us with confidence about the industry's future."
Regarding industry trends, Wu stated that "high quality at a fair price" will become the core. Future baijiu must ensure high quality while having a reasonable price, meeting consumer demand for high cost-performance products. ZJLD will always adhere to its初心 of quality and顺应 industry trends.
Facing the alienation of younger groups from baijiu, he has a unique strategy. He suggests young people start with beer or low-alcohol wine to acclimate to alcohol before trying baijiu. Wu said, "Baijiu is a national product with an irreplaceable cultural charm. When I was young and in the baijiu business, I was almost embarrassed to mention it. But now, most people my age drink baijiu. Give young people some time; they will eventually come to appreciate its charm."
Looking back on 2025, Wu感慨万千: "The consumer market in 2025 faced significant阻力, but entrepreneurs are meant to experience and穿越 cycles." For 2026, he is full of anticipation, believing that with the stock market recovery and the rebound in domestic demand, this year will be better than the last.
Discussing the new five-year period following the start of the "15th Five-Year Plan," Wu believes the arrival of the AI era will be the most noteworthy turning point for the Chinese economy. "I missed the internet and digital transformation eras; I don't want to miss the AI era." He stated that AI will trigger an industrial revolution, helping companies improve efficiency and reduce costs while providing individuals with more development opportunities. He himself is actively learning about AI-related knowledge.
Wu's message to young people and entrepreneurs: "Embrace this major revolution of the AI era and seize the development opportunities; also embrace curiosity, explore the unknown, and continuously break through to go further and steadier on the path of striving."
Wu Xiangdong's entrepreneurial journey is both a microcosm of a Hunan businessperson's pragmatic innovation and sincere perseverance, and a portrayal of the Chinese liquor industry seeking development amidst change. Today, he is steadily leading ZJLD forward. His insights into the industry and confidence in the future are bound to inject new strength into the high-quality development of China's liquor industry.
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