In the afternoon of August 1,ShuijingfangAccording to the announcement, after multiple rounds of negotiations and in-depth discussions between the company and Mr. Liang Mingfeng and Guowei Company, it was difficult to reach agreement on a number of important commercial arrangements for the joint venture project. The company decided to follow the relevant provisions of the framework agreement on July 31, 2021. Send a friendly notice to Mr. Liang Mingfeng and Guowei Company to terminate the framework agreement and the joint venture project and neither party assumes any responsibility.
On August 2, liquor stocks continued to decline in early trading. Shuijingfang once fell more than 8%, and the stock price also fell below the 100 yuan mark.
At the dealer conference held in early April this year, Zhu Zhenhao, general manager of Shuijingfang, publicly pointed out that he is not worried about the influence of sauce and wine. Under the trend of diversification in the Chinese liquor market, the current market share of Luzhou-flavor liquor is still over 60%. As the consumption upgrade continues, there are still many development opportunities in the sub-high-end and high-end Luzhou-flavor liquor market in the future.
In addition, Shuijingfang pointed out that at present, the cooperation model between external investors and Renhuai local sauce and wine companies is diverse. In addition to forming a joint venture, it also includes using its own channels for personalized customization, using its own brand to commission processing, and Joint development of sauce and wine enterprises with a certain brand foundation, etc. These may become the path for the layout of sauce and wine in Shuijingfang.
Regarding the termination of the joint venture project with Guowei, Baijiu industry commentator Cai Xuefei also said that the two parties failed to reach an agreement on some commercial arrangements. Although there are no more details to disclose, this also reflects the fact that Shuijingfang is in the hot sauce and wine. Down, still maintain prudence and pragmatism.
According to Shuijingfang’s announcement, the two parties will continue to discuss potential cooperation opportunities in the future, but there is still uncertainty about whether they can reach a consensus on the way of cooperation. For Shuijingfang, what will the new story of sauce and wine tell in the future?
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