# Wu Xiangdong

Defying the Downturn: How Zhenjiu LiDu Cracked the Code of Baijiu Price Stability

While the Chinese baijiu industry suffers from severe price inversion and inventory surpluses, Zhenjiu LiDu has maintained profitability and price stability through its 'Ten-Thousand Merchant Alliance' model and equity incentives for distributors. By prioritizing channel health over short-term volume, the group has successfully cleared inventory and recently raised its 2026 financial guidance.