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Guojiao 1573 pricing and supply国窖1573价格与供应
7 · 2024-01-03 → 2024-07-03
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Price hikes, order suspensions, and supply controls for the flagship Guojiao 1573 product对旗舰产品国窖1573进行提价、暂停接单和供应控制
2024-01-03Luzhou Laojiao raised the price of its core product Guojiao 1573 classic edition (52% ABV) by 20 yuan per bottle to 980 yuan in mid-August 2023, contributing to a 29.13% YoY increase in average ton price to 767,300 yuan/ton in the first three quarters.泸州老窖于2023年8月中旬将核心产品国窖1573经典装（52度）每瓶提价20元至980元，推动前三季度整体吨价同比增长29.13%至76.73万元/吨。
2024-01-03Luzhou Laojiao reversed a previous price cut and announced a price restoration, reflecting indecision in pricing strategy amid industry-wide price increases by Moutai and Wuliangye.泸州老窖在刚刚降价后又宣布将价格回调，反映出在茅台、五粮液等行业普遍涨价的背景下，其定价策略犹豫不决。
2024-05-09At the 2023 annual performance briefing, Luzhou Laojiao management stated that Guojiao 1573 currently has no price adjustment plan.在2023年度业绩说明会上，泸州老窖管理层表示目前国窖1573暂无调价计划。
2024-06-28Luzhou Laojiao's Guojiao Liquor Sales Co. issued a notice to stop accepting orders and shipments for the 38% ABV Guojiao 1573 Classic Edition, effective immediately.泸州老窖国窖酒类销售股份有限公司发布通知，即日起停止接收国窖38度经典装订单及货物发运。
2024-06-28Luzhou Laojiao stated in an institutional调研 that Guojiao 1573 capacity fully meets current sales demand, and that low-alcohol products will be a future growth focus as consumer preferences shift.泸州老窖在机构调研中表示，国窖1573产能能充分满足现阶段销售需求，低度酒产品将作为未来发展的重要突破板块。
2024-07-02Luzhou Laojiao Guojiao Sales Co., Ltd. raised the settlement price for 38% ABV Guojiao 1573 Classic Edition (500ml*6) by 30 yuan per bottle for distributor in-plan quotas.泸州老窖国窖酒类销售股份有限公司将38度国窖1573经典装（500ml*6）经销客户计划内配额结算价格上调30元/瓶。
2024-07-03Luzhou Laojiao Guojiao Sales Co., Ltd. stopped accepting orders and shipments for 52% ABV Guojiao 1573 Classic Edition to control supply and stabilize prices.泸州老窖国窖酒类销售股份有限公司停止接收52度国窖1573经典装订单及货物发运，以控货稳价。
Digital and intelligent transformation数字化与智能化转型
21 · 2024-01-12 → 2026-06-15
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MIIT recognition, smart factory, 5G factory, digital twin, and data IP awards工信部认定、智慧工厂、5G工厂、数字孪生和数据知识产权奖项
2024-01-12Luzhou Laojiao's 'Baijiu Production-Supply-Marketing Digital and Intelligent Transformation Pilot Project' was selected by the MIIT as a 2023 'Digital Leader' enterprise, becoming the first baijiu company to receive this honor.泸州老窖申报的“白酒产供销数智化转型领航示范项目”入选工信部2023年“数字领航”企业方向，成为白酒行业首家入围单位。
2024-01-29Luzhou Laojiao's intelligent packaging center, built over 4 years with a total investment of 2.136 billion yuan, commenced trial production in Luzhou Baijiu Industrial Park, becoming the baijiu industry's first 'lighthouse factory' with 5 high-speed filling lines (15,000 bottles/hour each), annual packaging capacity of 100,000 tons, and 24 patents.泸州老窖智能包装中心在四川泸州白酒产业园区启动试生产，历时4年、总投资21.36亿元，成为白酒行业首家“灯塔工厂”，拥有5条高速灌装线（15000瓶/时），年包装能力10万吨，取得24项专利授权。
2024-02-06Luzhou Laojiao's intelligent packaging center, the industry's first 'lighthouse factory', started trial production, with 5 filling lines averaging 15,000 bottles/hour, doubling production efficiency.泸州老窖智能包装中心试生产启动，为白酒行业首家'灯塔工厂'，5条灌装线平均速度15000瓶/时，生产效率提高2倍以上。
2024-03-13Luzhou Laojiao announced that its raw liquor storage reached 400,000 tons, with high-quality liquor accounting for over 50%, and the intelligent packaging center, with an investment of 2.136 billion yuan, started trial production on January 30, 2024, as the industry's first lighthouse factory.泸州老窖宣布原酒储存量40万吨，好酒占比超50%；投资21.36亿元的智能包装中心于2024年1月30日启动试生产，为行业首家灯塔工厂。
2024-06-04Luzhou Laojiao's intelligent packaging center began trial production in January 2024; it has a total floor area of 181,300 sqm, annual packaging capacity of 100,000 tons, finished product storage capacity of 5 million cases, and a production speed of 15,000 bottles/hour (1.5x improvement, 90% labor saving), hailed as the industry's first 'lighthouse factory'.泸州老窖智能包装中心于2024年1月开始试生产，总建筑面积18.13万平方米，年包装能力10万吨，成品酒储存能力500万件，生产速度达15000瓶/时（效率提升1.5倍，节约人工90%以上），被誉为行业首家'灯塔工厂'。
2024-06-25Luzhou Laojiao Group was awarded '2024 Western Enterprise Digital Transformation Excellent Practice Unit'; General Manager Lin Feng was named '2024 Western Enterprise Digital Transformation Leader'.泸州老窖集团荣获'2024年西部企业数字化转型优秀实践单位'；总经理林锋荣获'2024年西部企业数字化转型领军人物'称号。
2024-12-02Luzhou Laojiao was selected as the first national intelligent manufacturing benchmark enterprise in the baijiu industry by the China Electronics Standardization Institute under the MIIT.泸州老窖被工信部下属中国电子技术标准化研究院评选为白酒行业首家国家级智能制造标杆企业。
2024-12-30Luzhou Laojiao and Schneider Electric held high-level exchanges on intelligent manufacturing, digital transformation, and sustainable development, aiming for 'lighthouse factory' goals.泸州老窖与施耐德电气开展高层交流，围绕智能制造、数字化转型及可持续发展进行探讨，共谋“灯塔工厂”目标。
2025-03-25Luzhou Laojiao disclosed in investor relations activities that its overall product scan rate has reached 40%, and it has built a consumer data model. It will continue to incentivize consumers to scan codes and open bottles.泸州老窖在投资者关系活动中披露，现阶段产品整体扫码率达40%，已构建消费者数据模型，将持续激励消费者扫码开瓶。
2025-04-22Luzhou Laojiao obtained Sichuan's first data intellectual property certificate related to baijiu, for 'Guojiao 1573 Bottled Wine Body Foreign Matter Real-time Monitoring Data', marking the industry's first inclusion of real-time monitoring data into IP protection.泸州老窖取得四川首张与“酒”相关的数据知识产权登记证书——《泸州老窖“国窖1573”瓶装酒酒体异物实时监测数据》，标志着白酒行业首次将酒体异物实时监测数据纳入知识产权保护体系。
2025-06-24Chairman Liu Miao attended Summer Davos Forum, sharing experience of building the baijiu industry's first excellence-level smart factory and digital twin covering 3,000 mu and 60,000 devices.董事长刘淼出席夏季达沃斯论坛，分享打造白酒行业首家卓越级智能工厂经验，数字孪生覆盖3000亩园区、6万台设备。
2025-07-01Luzhou Laojiao shared AI empowerment practices in traditional brewing at the Summer Davos Forum; its 'Guojiao 1573' was the only baijiu brand at the 'Cultural Night'.泸州老窖在夏季达沃斯论坛分享人工智能赋能传统酿造实践；'国窖1573'作为唯一白酒品牌亮相'文化之夜'。
2025-08-04Luzhou Laojiao registered a new software copyright 'Luzhou Laojiao Smart Brewing System V1.0', with R&D spending of 261 million yuan in 2024, up 15.5% YoY.泸州老窖新注册《泸州老窖智慧工酿系统V1.0》软件著作权，2024年研发投入2.61亿元，同比增长15.5%。
2025-08-31Luzhou Laojiao's smart brewing technical transformation project progressed, with the Huangyi brewing ecological park's Qu-making MES system going online.泸州老窖智能酿造技改项目继续推进，黄舣酿酒生态园制曲MES系统上线运行。
2025-09-05Luzhou Laojiao was selected into the MIIT's 2025 5G Factory Directory for its 5G+ industrial internet smart manufacturing deployment at Huangyu酿酒生态园 and other sites.泸州老窖入选工信部《2025年5G工厂名录》，因其在黄舣酿酒生态园等地的5G+工业互联网智能制造部署。
2025-11-01Registered a new software copyright for 'Microbial Composition Differences and Functional Characteristics Online Analysis Software V1.0'; total 9 software copyrights registered in 2025; R&D spending in H1 2025 was 83.8641 million yuan, up 11.78% YoY.新注册《微生物组成差异及功能特征在线分析软件V1.0》软件著作权；2025年共注册9项软件著作权；2025年上半年研发投入8386.41万元，同比增长11.78%。
2026-03-11Luzhou Laojiao registered a new software copyright for 'Luzhou Laojiao Intelligent Label Platform Software V1.0'; R&D spending in H1 2025 was 83.8641 million yuan, up 11.78% year-on-year.泸州老窖新注册《泸州老窖智能标签平台软件V1.0》软件著作权；2025上半年研发投入8386.41万元，同比增11.78%。
2026-04-10Luzhou Laojiao registered two new software copyrights: 'Luzhou Laojiao Smart Marketing Management System V1.0' and 'Luzhou Laojiao Qianlima System V1.0'.泸州老窖新注册了《泸州老窖智慧营销管理系统1.0》和《泸州老窖千里码系统V1.0》两项软件著作权。
2026-04-29Luzhou Laojiao's 2025 annual report disclosed that the company promoted the 'Five-Code Integration' (五码合一) system for full-chain digital management, covering production to end-consumer unsealing.泸州老窖2025年年报披露，公司以“五码合一”为核心，实施全链路数字化管理，覆盖从出厂到终端开瓶全过程。
2026-05-12Luzhou Laojiao registered a new software copyright for 'Luzhou Laojiao Channel Member System 1.0', and has registered 14 software copyrights in 2026, up 180% YoY.泸州老窖新注册《泸州老窖渠道会员系统1.0》软件著作权，2026年以来新注册14个，同比增加180%。
2026-06-15Luzhou Laojiao disclosed cumulative investment of over 16 billion yuan in digital and intelligent transformation over nearly 20 years, building a full-chain smart factory with digital twin, 5G, AI vision, and big data at Huangyi Brewing Eco-Park.泸州老窖披露近二十年累计投入超160亿元推进数字化智能化转型，在黄舣酿酒生态园打造全产业链智能工厂，应用数字孪生、5G、AI视觉、大数据等技术。
Sports and event sponsorship体育与活动赞助
5 · 2024-01-15 → 2026-04-07
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Australian Open, Streetball King, ITTF World Cup, and Olympic co-brand澳网、街球霸王、ITTF世界杯和奥运联名
2024-01-15Luzhou Laojiao sponsored the 2024 Australian Open tennis tournament, appearing among 32 sponsors from various sectors including sports, food, and aviation.泸州老窖赞助2024年澳大利亚网球公开赛，成为来自运动、食品、航空等多个领域的32个赞助商之一。
2024-04-28Luzhou Laojiao's Baidiao brand partnered as the official event partner for the 2024 Streetball King (街球霸王) national tour, starting in Chengdu.泸州老窖百调作为赛事官方合作伙伴，携手2024街球霸王全国巡回赛首站成都站。
2024-08-02Luzhou Laojiao held a TEAM CHINA national team co-branded product launch in Paris on July 30, releasing a special edition for the 2024 Olympics, as part of its sponsorship of the Chinese national team.泸州老窖于7月30日在巴黎举办TEAM CHINA中国国家队联名产品发布会，推出2024年奥运会特别版，作为中国国家队荣誉赞助商。
2024-11-05Luzhou Laojiao co-hosted the 2024 Table Tennis City Challenge Central Regional Finals in Jinan with the ITTF World Cup; the event was themed 'Same Glory, Together Ping'.泸州老窖携手国际乒联世界杯在济南联合主办2024泸州老窖乒乓球城市挑战赛中部大区总决赛，主题为“同荣耀·共乒搏”。
2026-04-07Luzhou Laojiao, as the Global Top Partner of the ITTF World Cup, held a themed pop-up store 'World Cup Cellar Master BAR' and launched limited-edition cocktails, with table tennis star Liu Shiwen attending.泸州老窖作为国际乒联世界杯全球顶级合作伙伴，开设乒乓球主题快闪店“世界杯窖主BAR”，推出世界杯限定特调，乒乓球明星刘诗雯出席活动。
Tequ 60 channel strategy特曲60版渠道策略
6 · 2024-01-16 → 2026-04-08
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Pilot omni-channel in Sichuan/Chongqing, group-buy elsewhere, and Red 60 launch在川渝试点全渠道运营，其他地区维持团购，推出红60
2024-01-16Luzhou Laojiao stated that its 60th Edition Tequ (60版特曲) is a successfully cultivated large single product, currently piloting offline full-channel operations in parts of Sichuan and Chongqing, while continuing group-buying channels outside these regions.泸州老窖表示，60版特曲是近年来成功培育的大单品，目前正在川渝部分地区试点线下全渠道运营，川渝外继续以团购模式为主。
2024-03-22Luzhou Laojiao launched the Tequ 60 edition 'Red 60' at the Chengdu Spring Sugar Fair, targeting the banquet market, especially weddings.泸州老窖在成都春糖期间推出特曲60版‘红60’，瞄准宴席市场，特别是婚宴市场。
2024-12-04Luzhou Laojiao announced it is piloting offline omni-channel operations for its 60th-anniversary Special Qu in parts of Sichuan and Chongqing, while continuing group-buying channels outside these regions.泸州老窖表示60版特曲正在川渝部分地区试点线下全渠道运营，川渝外继续以团购模式为主。
2025-01-22Luzhou Laojiao said 60th Edition Tequ is piloting omni-channel operations in parts of Sichuan and Chongqing, and launched 'Red 60' for the banquet market.泸州老窖表示60版特曲正在川渝部分地区试点全渠道运营，并推出“红60”发展宴席市场。
2025-02-21Luzhou Laojiao Huaijiu Liquor Marketing Co. suspends orders and shipments of the 'Tequ 60 Edition' series products, which reportedly accounts for over 10% of total revenue (approx. RMB 3 billion annually).泸州老窖怀旧酒类营销有限公司暂停接收特曲60版系列产品订单与发货，该产品据券商预估年销售约30亿元，占营收10%以上。
2026-04-08Luzhou Laojiao stated on the investor interaction platform that its Tequ 60 edition is piloting full-channel operations in some regions, while outside pilot areas it continues to rely on group-buy channels; it has launched 'Red 60' for the banquet market.泸州老窖在投资者互动平台表示，特曲60版正在部分地区试点全渠道运营，试点地区外继续以团购模式为主，并推出了“红60”发展宴席市场。
Capital structure and debt financing资本结构与债务融资
8 · 2024-01-16 → 2025-09-08
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Long-term borrowings for expansion, low-cost debt, and capital management长期借款用于扩张、低成本债务和资本管理
2024-01-16Luzhou Laojiao explained that its 28 billion yuan in cash and 13 billion yuan in long-term borrowings and bonds are due to business expansion, funding smart brewing upgrades and brand-building projects with low-cost debt.泸州老窖解释称，账上280亿元现金及130亿元长期借款和应付债券源于业务扩张，利用低成本借款资金开展智能酿造技改和品牌提升项目建设。
2024-05-09At the 2023 annual performance briefing, Chairman Liu Miao stated that the company's long-term borrowing is used for important project construction during the business expansion period, and there is no situation of providing loans to dealers through related parties.在2023年度业绩说明会上，董事长刘淼表示公司长期借款用于业务扩张时期的重要项目建设，不存在通过关联方向经销商贷款的情形。
2024-05-30Luzhou Laojiao stated that as of the end of the first quarter of 2024, its long-term borrowing balance was 11.99 billion yuan, and the asset-liability ratio was 32.43%, maintaining a reasonable and low level.泸州老窖表示截至2024年一季度末，公司长期借款余额119.90亿元，资产负债率为32.43%，维持在合理且较低水平。
2024-09-12Luzhou Laojiao semi-annual report briefing: Chairman Liu Miao explained that long-term debt increased due to investment in projects for future development; the company uses low-cost bank loans and optimizes capital structure to increase cash management income.泸州老窖半年度业绩说明会：董事长刘淼解释长期债务增加系为匹配未来发展需要投资建设项目，利用低成本长期借款并优化资本结构以增加现金管理收益。
2024-11-26Luzhou Laojiao stated on the investor interactive platform that it uses low-cost borrowed funds combined with own funds for smart brewing technical transformation and brand building projects, and moderately increases financial leverage to improve capital returns.泸州老窖在投资者互动平台表示，利用较低成本借款资金结合自有资金开展智能酿造技改、品牌提升项目建设，适度提升财务杠杆以提高资本回报。
2025-01-16Luzhou Laojiao disclosed that its long-term borrowings of approx. RMB 9.7 billion are from multiple commercial banks, not from Luzhou Bank, and are used for production expansion and cultural tourism projects.泸州老窖披露约97亿元长期借款来自多家商业银行，不包含泸州银行，用于生产扩产和文旅项目。
2025-04-28Luzhou Laojiao stated it uses low-cost borrowing (CNY 10+ billion long-term loans) combined with自有资金 to fund smart brewing tech upgrades and brand enhancement projects, while maintaining reasonable cash management.泸州老窖表示利用较低成本借款资金（超100亿元长期借款）结合自有资金开展智能酿造技改和品牌提升项目建设，并进行合理现金管理。
2025-09-08Luzhou Laojiao disclosed that it used自有资金 (own funds) to redeem bonds '19 Laojiao 01' and '20 Laojiao 01' in full; the remaining 150.5 million yuan in the raised-funds account is unspent proceeds plus interest.泸州老窖披露使用自有资金兑付“19老窖01”“20老窖01”债券本息；募集资金账户余额1.505亿元为未使用资金及利息。
E-commerce and emerging channels电商与新兴渠道
6 · 2024-01-17 → 2026-04-29
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Jingling platform sales, online growth, and own e-commerce buildout京灵平台销售、线上增长和自建电商
2024-01-17Luzhou Laojiao's products launched on Jingling Group's platform on January 15, achieving first-day sales exceeding 4.52 million yuan.泸州老窖出品产品于1月15日上线鲸灵集团平台，首日销售额超452万元。
2024-04-27Luzhou Laojiao's 2023 annual report showed traditional channel revenue of 28.657 billion yuan (+22.98% YoY), while emerging channel revenue was 1.42 billion yuan (-2.97% YoY).泸州老窖2023年年报显示，传统渠道运营模式收入286.57亿元（同比+22.98%），新兴渠道运营模式收入14.2亿元（同比-2.97%）。
2025-08-29Luzhou Laojiao's H1 2025 emerging channel revenue reached 932 million yuan, up 27.55% YoY; traditional channel revenue 15.465 billion yuan, down 3.99%.泸州老窖2025年上半年新兴渠道营收9.32亿元，同比增长27.55%；传统渠道营收154.65亿元，同比下降3.99%。
2025-09-05Luzhou Laojiao's online sales channel grew about 30% in H1 2025; it is building its own e-commerce platform and deepening cooperation with major e-commerce and instant retail platforms.泸州老窖2025年上半年线上销售增长约30%；自建电商平台并深化与主流电商及即时零售平台合作。
2026-03-26Luzhou Laojiao disclosed that its emerging channel (online sales) accounted for 4.74% of total revenue in 2024, with growth faster than traditional channels; sales models include traditional dealer distribution and online direct sales via e-commerce platforms, livestreaming, etc.泸州老窖披露2024年度新兴渠道（线上销售）在营收中占比为4.74%，增速快于传统渠道；销售模式包括传统经销商授权经销和线上平台、直播间等新兴渠道运营。
2026-04-29Luzhou Laojiao's 2025 annual report showed that online sales channels achieved revenue of 1.385 billion yuan, with gross margin up 2.64% YoY despite a slight revenue decline.泸州老窖2025年年报显示，线上销售等新兴渠道实现营业收入13.85亿元，毛利率同比增长2.64%。
Brand ambassador and cultural IP品牌大使与文化IP
4 · 2024-01-22 → 2025-05-16
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Jackie Chan as Guojiao 1573 ambassador, Three-Body co-brand, and art collaborations成龙任国窖1573大使、三体联名和艺术合作
2024-01-22Luzhou Laojiao appointed international movie star Jackie Chan as the cultural communication ambassador for Guojiao 1573, releasing a brand film 'Descendants of the Dragon, Legacy of Nongxiang' to mark the 700th year of unbroken inheritance of its traditional brewing technique.泸州老窖携手国际影星成龙，任命其为国窖1573文化传播大使，发布品牌影片《龙的传人浓的传承》，庆祝泸州老窖酒传统酿制技艺不断代传承700年。
2025-02-18Luzhou Laojiao partners with artist Sui Jianguo to launch the 2025 'Guojiao 1573 Art New Year Wine' series, continuing its annual art collaboration tradition.泸州老窖携手国际雕刻艺术家隋建国推出2025年国窖1573艺术新春酒“手握星辰”，延续年度艺术合作传统。
2025-04-02Luzhou Laojiao and sci-fi epic 'Three-Body Problem' jointly launched 'Luzhou Laojiao | Three-Body' and 'Guojiao 1573 | Three-Body' at a global launch event in Beijing, marking the first deep integration of China's baijiu industry with a sci-fi IP.泸州老窖与科幻巨作《三体》联袂打造的“泸州老窖丨三体”与“国窖1573丨三体”全球发布会在北京启幕，标志着中国白酒行业首次与科幻IP深度融合。
2025-05-16At the 2024 annual performance briefing, Luzhou Laojiao announced that the 'Three-Body Problem' sci-fi co-branded liquor is expected to launch in June 2025.在2024年度业绩说明会上，泸州老窖宣布《三体》科幻联名酒预计2025年6月正式上市。
Share repurchase and cancellation股份回购与注销
19 · 2024-01-23 → 2026-06-02
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Cancellation of restricted shares from incentive plans and controlling shareholder buyback注销激励计划限制性股票及控股股东增持
2024-01-23Luzhou Laojiao's board of directors approved a resolution to repurchase and cancel 15,266 restricted shares from three ineligible incentive recipients, with a total repurchase amount of 1.3013 million yuan from自有资金.泸州老窖董事会审议通过回购注销3名不再符合激励条件的激励对象已获授但尚未解除限售的限制性股票共计15266股，回购资金总额130.13万元，资金来源为公司自有资金。
2024-01-31Luzhou Laojiao confirmed that its controlling shareholder's share purchase plan, announced on December 15, 2023, is progressing orderly, and the company has no current share buyback plan except for the restricted stock repurchase under the 2021 incentive plan.泸州老窖确认控股股东增持计划（2023年12月15日公告）正有序推进，除2021年限制性股票激励计划规定的回购注销外，公司暂无回购计划。
2024-02-222,734,640 restricted shares (0.19% of total shares) from Luzhou Laojiao's 2021 restricted stock incentive plan became tradable on February 22, 2024.泸州老窖2021年限制性股票激励计划第一个解除限售期的273.464万股（占总股本0.19%）于2024年2月22日上市流通。
2024-03-15Luzhou Laojiao's controlling shareholder, Luzhou Laojiao Group, through its wholly-owned subsidiary Sichuan Jinduo Investment Co., Ltd., cumulatively increased its shareholding by 607,800 shares (0.04% of total shares) from December 15, 2023 to March 15, 2024, with an amount of 101.9956 million yuan.泸州老窖控股股东老窖集团通过全资子公司四川金舵投资有限责任公司于2023年12月15日至2024年3月15日期间累计增持公司股份60.78万股（占总股本0.04%），增持金额10199.56万元。
2024-06-04Luzhou Laojiao adjusted the grant price of reserved restricted shares under the 2021 incentive plan from 92.71 yuan to 89.466 yuan (after 2021 dividend) and then to 85.241 yuan (after 2022 dividend), and resolved to repurchase and cancel 6,000 restricted shares.泸州老窖将2021年激励计划预留部分限制性股票授予价格由92.71元调整为89.466元（2021年分红后），再调整为85.241元（2022年分红后），并决议回购注销6000股限制性股票。
2024-06-17Luzhou Laojiao's controlling shareholder, Luzhou Laojiao Group, completed its share buyback plan via wholly-owned subsidiary Sichuan JinDuo Investment, cumulatively purchasing 1,140,200 shares (0.08% of total equity) for approximately 200.96 million yuan.泸州老窖控股股东泸州老窖集团通过全资子公司四川金舵投资完成增持计划，累计增持1,140,200股（占总股本0.08%），增持金额约2.0096亿元。
2024-07-30Luzhou Laojiao stated it has no current share buyback or executive share increase plan, except for repurchases required under the 2021 restricted stock incentive plan.泸州老窖表示除2021年限制性股票激励计划规定的回购注销外，暂无回购或高管增持计划。
2024-08-13Luzhou Laojiao completed the cancellation of 21,266 restricted shares at a repurchase price of 85.241 yuan per share, involving 4 grantees, reducing total shares to 1,471,966,503.泸州老窖完成21,266股限制性股票回购注销，回购价格85.241元/股，涉及4名激励对象，总股本降至1,471,966,503股。
2024-09-23Luzhou Laojiao's board approved repurchase of 15,000 restricted shares at total cost of 1,197,615 yuan due to adjustment of repurchase price.泸州老窖董事会同意回购注销15,000股限制性股票，回购资金总额为1,197,615元。
2024-12-19Luzhou Laojiao completed the repurchase and cancellation of 15,000 restricted shares at a price of 79.841 yuan per share, involving one incentive recipient who no longer met conditions, reducing total shares to 1,471,951,503.泸州老窖完成15,000股限制性股票回购注销，回购价格为79.841元/股，涉及1名激励对象，总股本减少至1,471,951,503股。
2025-01-21Luzhou Laojiao board approved the release of 2,022,530 restricted shares for 434 grantees under the 2021 restricted stock incentive plan's second tranche, effective Feb 24, 2025.泸州老窖董事会批准2021年限制性股票激励计划第二个解除限售期解除限售条件成就，涉及434名激励对象共202.253万股，2025年2月24日生效。
2025-01-21Luzhou Laojiao board approved the release of 37,069 restricted shares for 17 grantees under the 2021 restricted stock incentive plan's reserved part first tranche, effective Feb 17, 2025.泸州老窖董事会批准2021年限制性股票激励计划预留部分第一个解除限售期解除限售条件成就，涉及17名激励对象共3.7069万股，2025年2月17日生效。
2025-02-13Luzhou Laojiao announces the first release of 37,069 restricted shares (0.0025% of total) for 17 incentive recipients under the 2021 restricted stock incentive plan, effective Feb 17, 2025.泸州老窖公告2021年限制性股票激励计划预留部分第一个解除限售期，17名激励对象可解除限售3.7069万股（占总股本0.0025%），2025年2月17日上市流通。
2025-03-13Luzhou Laojiao's controlling shareholder, Luzhou Laojiao Group, announced a plan to increase its shareholding by no less than 150 million yuan and no more than 300 million yuan within 6 months, using special loan funds and自有资金. China Construction Bank Luzhou Branch will provide up to 270 million yuan in special loan for the increase.泸州老窖控股股东泸州老窖集团计划6个月内增持公司股份，金额不低于1.5亿元，不超过3亿元，资金来源为增持专项贷款及自有资金。中国建设银行泸州分行提供不高于2.7亿元专项贷款。
2025-04-08Luzhou Laojiao Group disclosed a share buyback plan: from March 14, 2025, within 6 months, using special loan and自有资金 CNY 150-300 million to increase holdings of Luzhou Laojiao stock; progress is being implemented.泸州老窖集团披露增持计划：自2025年3月14日起6个月内，使用增持专项贷和自有资金1.5亿至3亿元增持泸州老窖股票，目前正在推进实施。
2025-06-06Controlling shareholder Luzhou Laojiao Group disclosed progress of share buyback plan: cumulatively bought 2.1338 million shares (0.14% of total) for about RMB 271.65 million as of June 13.控股股东泸州老窖集团披露增持进展：截至6月13日累计增持213.38万股（占总股本0.14%），金额约2.7165亿元。
2025-09-08Controlling shareholder Luzhou Laojiao Group completed a share buyback plan, accumulating 2.345 million shares (0.16% of total) for about 300 million yuan via open market purchases from June 14 to Sep 5, 2025.控股股东泸州老窖集团完成增持计划，于2025年6月14日至9月5日通过集中竞价累计增持约234.5万股（占总股本0.16%），金额约3亿元。
2025-11-21Completed repurchase and cancellation of 9,540 restricted shares at 73.891 yuan per share, involving 3 incentive recipients; total shares reduced from 1,471,951,503 to 1,471,941,963.完成回购注销9540股限制性股票，回购价格73.891元/股，涉及3名激励对象；公司总股本由1,471,951,503股减少至1,471,941,963股。
2026-06-02Luzhou Laojiao completed repurchase and cancellation of 40,500 restricted shares at 72.533 yuan/share for 6 ineligible incentive recipients, total consideration 2.9376 million yuan, reducing total shares to 1,471,901,463.泸州老窖完成对6名不符合条件的激励对象所持40,500股限制性股票的回购注销，回购价72.533元/股，总金额293.76万元，总股本降至1,471,901,463股。
New product launches新品发布
34 · 2024-01-25 → 2026-06-25
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Six-Year Cellar Touqu Zhenpin, Jiao Series, Mingniang tea-flavored, Erqu, and low-alcohol products六年窖头曲珍品、窖系列、茗酿茶香型、二曲和低度产品
2024-01-25Luzhou Laojiao launched a new product, 'Six-Year Cellar Touqu · Zhenpin' (六年窖头曲·珍品), a premium entry-level baijiu emphasizing traditional craftsmanship and modern style.泸州老窖推出新品六年窖头曲·珍品，一款集传统酿造艺术与现代风格于一身的高端塔基产品。
2024-03-27Luzhou Laojiao confirmed in an investor interaction that the 'Jiao Series' (Jiao 10, Jiao 15) is a new product line targeting regional markets.泸州老窖在投资者互动中确认‘窖系列’（窖10、窖15）是公司推出的针对区域市场的新产品。
2024-04-08Luzhou Laojiao held a new product launch for its 'Jiao Series' (窖系列) during the 2024 Spring Sugar Fair (春糖).泸州老窖在2024年春糖期间举行了窖系列产品的新品发布会。
2024-05-10Luzhou Laojiao stated on the investor interaction platform that the 'Jiao Series' is a new product launched for regional markets and does not change the company's 'Dual Brand, Three Product Lines, Big Single Product' brand strategy.泸州老窖在投资者互动平台表示，窖系列是针对区域市场推出的新产品，不改变公司“双品牌、三品系、大单品”的品牌战略。
2024-07-16Luzhou Laojiao stated that its 'Jiao Series' products are in pre-launch preparation.泸州老窖表示其“窖系列”产品正在上市前准备中。
2024-09-05Luzhou Laojiao held the 'New Flavor, New Opportunity' China LuJiu (herbal liquor) Industry Development Conference and launched the third-generation Mingniang tea-flavored liquor (茗酿茶香型酒), with nearly 1 billion yuan invested in health liquor production and R&D systems.泸州老窖承办“新风味 新风口”中国露酒产业发展大会暨茗酿茶酒上市发布会，推出第三代茗酿茶香型酒，总投入近10亿元建成养生酒生产、研发体系。
2024-09-12Luzhou Laojiao semi-annual report briefing: Chairman Liu Miao said the company has launched innovative products such as Chinese-style fruit wine and craft beer to meet young consumer demand.泸州老窖半年度业绩说明会：董事长刘淼表示公司已推出中式果酿酒、精酿啤酒等创新产品以满足年轻消费群体需求。
2024-09-13Luzhou Laojiao disclosed in investor relations record: health liquor subsidiary has developed and sold Mingniang and other LuJiu (herbal liquor) products; 'Heigai' product focuses on high-end optical bottle baijiu market, targeting 20 cities.泸州老窖披露投资者关系活动记录：养生酒公司已研发销售茗酿等露酒产品；黑盖产品布局高端光瓶酒市场，重点聚焦20城发展。
2024-10-15Company stated it already has bottle-aged (瓶储年份酒) products on the market.公司表示已有瓶储年份酒产品。
2024-10-17Luzhou Laojiao Innovation Industry Holding Co., Ltd. held the 'Luzhou Laojiao Bainian Hongshunhe' (百年红顺和) bottle-aged liquor appreciation base inauguration ceremony, marking the re-launch of the product after 12 years of aging.泸州老窖创新产业控股有限公司举行泸州老窖百年红顺和瓶储年份酒鉴赏基地授牌仪式，该产品历经十二年沉淀再度面世。
2024-12-06Luzhou Laojiao and Sinopec Easy Joy jointly launched the 'Sanrenxuan·Golden Melody' new product in Hangzhou, with singer Tan Jing signed as cultural ambassador and the theme song 'Xuanwu Tiandi Jian' premiered globally.泸州老窖与中石化易捷在杭州联合发布“三人炫·金色乐章”新品，签约歌唱家谭晶为文化推广大使，全球首发主题曲《炫舞天地间》。
2025-01-15Luzhou Laojiao and Guangyuan Zhaohua district launched a strategic cooperation, releasing new product 'Baitiao Kiwi Distilled Spirit' (百调猕猴桃蒸馏酒).泸州老窖与广元昭化达成战略合作，发布新品“百调猕猴桃蒸馏酒”。
2025-03-31Luzhou Laojiao stated that its 'Baijiao' series, including Baijiao craft beer and low-alcohol plum wine, has been launched and is targeting young consumers.泸州老窖表示其“百调”系列包括百调精酿啤酒和低度化青梅酒已上市销售，主要目标群体是年轻消费者。
2025-06-17Launched cultural creative perfume 'Jiao Xiang Qing Cheng' (Cellar Aroma Clear Orange) at RMB 128/box, sold only at Luzhou Laojiao scenic area shopping center.推出文创香水“窖香清橙”，售价128元/盒，仅在泸州老窖景区购物中心销售。
2025-06-27Chairman Liu Miao announced 28-degree Guojiao 1573 successfully developed and will be launched timely; also considering even lower-degree products.董事长刘淼宣布28度国窖1573已研发成功，将适时投放市场，并考虑更低度数产品。
2025-07-04Luzhou Laojiao confirmed new low-alcohol products (e.g., 28% abv) are in R&D stage and will be launched when appropriate.泸州老窖确认28度等低度新产品处于研发阶段，将适时投入市场。
2025-07-11Luzhou Laojiao confirmed it has launched low-alcohol green plum wine (qingmei jiu) for sale.泸州老窖确认已有低度青梅酒上市销售。
2025-08-29Luzhou Laojiao plans to launch a new Luzhou Laojiao Erqu product, targeting the high-growth bottled baijiu segment, and shift resources to mid-to-high-end mass-market products.泸州老窖计划推出全新的泸州老窖二曲产品，布局高增长的光瓶酒赛道，并将资源向中高端大众主流产品倾斜。
2025-09-04Luzhou Laojiao successfully developed 28-degree Guojiao 1573 (low-alcohol baijiu) and plans to launch it; also plans to launch a new Luzhou Laojiao Erqu (bottled light liquor) product.泸州老窖成功研发28度国窖1573并计划推出；同时计划推出全新的泸州老窖二曲光瓶酒产品。
2025-10-10Luzhou Laojiao plans to launch 28° Guojiao 1573 new product and 'Erqu' new product in H2 2025 to boost low-alcohol and mass-market segments.泸州老窖计划于2025年下半年推出28°国窖1573新品和“二曲”新品，以提振低度酒及大众价位市场。
2025-10-23Luzhou Laojiao launched its 2026 Year of the Horse gift liquor dual-product set on Douyin official flagship store on October 22.泸州老窖于10月22日在抖音官方旗舰店首发2026丙午马年礼酒双品。
2025-11-05New product Luzhou Laojiao Erqu (light-bottle liquor) has begun pilot promotion; 28-degree Guojiao 1573 will be launched to market when appropriate.新品泸州老窖二曲（光瓶酒）已开展试点推广；28度国窖1573将适时投入市场。
2026-01-08Announced on investor platform: systematically advancing youth-oriented layout, deepening 38° low-alcohol product line, developing craft beer, Chinese-style fruit wine, bio-fermented masks, perfumes, and promoting iced and mixed drinking scenarios.在投资者平台宣布：系统性推进年轻化布局，深耕38°低度产品线，开发精酿啤酒、中式果酿酒、生物发酵面膜、香水，推广冰饮、调饮等新场景。
2026-01-27Announced on investor platform: major products have 38-degree versions; fruit wine products include 'Luzhou Laojiao Guoxian Chinese-style Fruit Wine Fengzhi Qing' and others; continuing youth-oriented product innovation.在投资者平台宣布：各大单品均有38度产品；果酒有《泸州老窖国仙中式果酿酒风之清》等产品；持续推进年轻化产品创新。
2026-02-28Luzhou Laojiao launched a new product '6-Year Cellar-Aged Touqu' (6龄头曲), which is selling very well. The product naming strategy (using cellar age) may cause consumer confusion about actual aging years. Wuliangye's board secretary noted they will learn from industry best practices but continue to emphasize their Ming Dynasty ancient cellar heritage.泸州老窖推出了新产品'6龄头曲'，市场反应火爆。这种以窖龄命名的产品策略可能让消费者误以为酒体实际窖藏了6年。五粮液董秘表示会学习行业优秀经验，但将继续以'明代古窖池活态酿造'为核心品牌点。
2026-03-12Luzhou Laojiao confirmed it sells a 5L-packaged 'Red Sorghum' product.泸州老窖确认有5L装红高粱产品销售。
2026-03-20At the 24th China International Alcoholic Drinks Expo, Luzhou Laojiao showcased its 'Baidiao' beer, fruit wine, and fruit distilled spirits, and launched a 'wine-coffee' series low-alcohol mix drink targeting young consumers.在第二十四届酒博会上，泸州老窖展示了“百调”啤酒、果酒及水果蒸馏酒等多元化酒品，并推出“酒咖”系列低度调饮，面向年轻客群。
2026-04-29Luzhou Laojiao's 2025 annual report disclosed that the company's Erqu (Erqu) product was revamped and relaunched, upgrading in four core dimensions: process, body, taste, and experience.泸州老窖2025年年报披露，泸州老窖二曲焕新上市，从工艺、酒体、口感、体验四大核心维度进行升级。
2026-05-09Luzhou Laojiao stated it has no 28-degree product currently, but will continue to promote new drinking methods like iced drinks and mixology, and develop more diversified products.泸州老窖表示暂无28度产品，将持续推广冰饮、调配等全新品饮方式，研发更多样化、个性化产品。
2026-05-25Luzhou Laojiao stated it has developed innovative alcoholic products such as craft beer to cater to younger consumers' self-pleasing and emotional value needs.泸州老窖表示已研究开发精酿啤酒等创新酒品，贴合年轻群体悦己型消费与情绪价值需求。
2026-06-04Luzhou Laojiao participated in the 'Famous Liquor Light Drinking' strategy launch co-hosted by China Alcoholic Drinks Association and Meituan Flash Delivery, unveiling the T9 50ml mini-bottle; VP Zhao Bingkun discussed AI-enabled brewing and youth-oriented strategy.泸州老窖参与中国酒业协会与美团闪购联合主办的“名酒轻饮”战略发布会，推出T9 50ml小酌瓶；副总经理赵丙坤分享AI赋能酿酒和年轻化战略。
2026-06-12Luzhou Laojiao's premium brand Guojiao 1573 launched official commemorative bottles for Argentina and Portugal national football teams ahead of the World Cup: 52% vol 500ml at 1,399 yuan, 38% vol 100ml at 158 yuan.泸州老窖旗下高端品牌国窖1573在世界杯前夕推出阿根廷队和葡萄牙队官方纪念酒：52度500ml建议零售价1,399元，38度100ml建议零售价158元。
2026-06-23Luzhou Laojiao launched a new product 'Touqu Jingcai' (头曲晶彩) upgrade, targeting the mass-market baijiu segment at around 100 yuan, completing the product tier of 'high-end Guojiao + mid-end Tequ + mass-market Touqu'.泸州老窖推出头曲晶彩新品升级，定位百元价位大众消费市场，完善“高端国窖+中端特曲+大众头曲”产品梯队。
2026-06-25Luzhou Laojiao officially launched '28% vol Gaoguang' (高光) new product: International Edition 375ml at 128 yuan/bottle, Mini Edition 50ml at 16.9 yuan/bottle, targeting 25-35 year-old consumers for social drinking occasions.泸州老窖正式推出28度高光新品：高光国际版375ml 128元/瓶，高光mini版50ml 16.9元/瓶，目标25-35岁年轻群体，主打聚会场景。
Securities lending recall转融通召回
1 · 2024-01-26
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Full recall of lent shares via securities lending to zero balance全面召回转融通出借股份，余额归零
2024-01-26Luzhou Laojiao Co., Ltd. fully recalled all lent shares via securities lending (转融通), reducing the outstanding lent share balance to zero.泸州老窖股份有限公司近期已将出借股份全部收回，未再通过转融通业务出借股份，目前出借股份余额为0股。
Trademark and IP litigation商标与知识产权诉讼
60 · 2024-01-27 → 2026-06-22
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Numerous infringement lawsuits, withdrawals, wins, and trademark applications大量侵权诉讼、撤诉、胜诉和商标申请
2024-01-27Two trademark infringement lawsuits filed by Luzhou Laojiao against retailers in Weinan, Shaanxi were withdrawn after the court approved the company's request to drop the cases, overturning prior judgments.泸州老窖在陕西省渭南市对两家零售商店提起的两起侵害商标权纠纷案，经法院裁定准许撤回起诉，撤销原判。
2024-02-03Luzhou Laojiao withdrew a trademark infringement lawsuit against Leiyang Wanhui Department Store, with the court permitting the withdrawal.泸州老窖撤回对耒阳市万汇百货店的侵害商标权诉讼，法院准许撤诉。
2024-02-19Luzhou Laojiao withdrew two trademark infringement lawsuits against Xichang Jingqi Tobacco & Liquor Store and Xichang Yichen Tobacco & Liquor Store, with the court permitting withdrawal.泸州老窖撤回对西昌景奇烟酒店和西昌市亿宸烟酒店的两起侵害商标权诉讼，法院准许撤诉。
2024-02-28Luzhou Laojiao applied to register trademarks 'Luzhou Laojiao 700 Qi' and 'Luzhou Laojiao Qi 700' in international classes including jewelry, scientific instruments, kitchen utensils, and fitness equipment, currently under substantive examination.泸州老窖申请注册'泸州老窖 700麒''泸州老窖 麒700'商标，国际分类包括珠宝钟表、科学仪器、厨房洁具、健身器材等，当前状态为等待实质审查。
2024-03-15Luzhou Laojiao was reported to have previously sued Yibin Tinghuajiu Industry Development Co., Ltd. for trademark infringement, alongside Kweichow Moutai.据报道，泸州老窖曾与贵州茅台一起起诉宜宾听花酒业发展有限责任公司商标侵权。
2024-04-17Luzhou Laojiao voluntarily withdrew a trademark infringement lawsuit against a shop in Laoshan District, Qingdao, as per a civil ruling dated March 6, 2024.泸州老窖作为原告的一起侵害商标权纠纷案（被告为崂山区某商店）获法院准许撤回起诉，裁定日期为2024年3月6日。
2024-05-13Luzhou Laojiao filed a trademark infringement lawsuit against Yiwu Junbao E-commerce Firm and Hangzhou Weiyi Technology Co., Ltd., which was later withdrawn with the court's permission.泸州老窖诉义乌市珺宝电子商务商行、杭州微蚁科技有限公司侵害商标权纠纷一案，后经法院准许撤诉。
2024-05-14Luzhou Laojiao Co., Ltd. filed a trademark infringement lawsuit against Yunxi District Mingfan Department Store and Beijing Zhuanzhuan Spirit Technology Co., Ltd., with the court issuing a public notice of summons.泸州老窖股份有限公司诉云溪区明凡百货商行、北京转转精神科技有限责任公司侵害商标权纠纷一案，法院公告送达。
2024-06-14Luzhou Laojiao was involved in a new trademark infringement lawsuit (case no. (2024) Su 10 Min Zhong 1988) filed by Hanjiang District Mantianyou Tobacco & Liquor Shop, heard by Yangzhou Intermediate People's Court, filed on June 6, 2024.泸州老窖新增一起商标权侵权纠纷诉讼（案号(2024)苏10民终1988号），原告为邗江区漫天游烟酒经营部，由江苏省扬州市中级人民法院审理，立案日期2024年6月6日。
2024-08-02Luzhou Laojiao withdrew its appeal in a trademark infringement lawsuit (Case No. (2024) Ji 01 Min Zhong 4668) against Siping City a liquor company and a restaurant, with the Changchun Intermediate People's Court permitting the withdrawal.泸州老窖在侵害商标权纠纷案（案号（2024）吉01民终4668号）中撤回上诉，吉林省长春市中级人民法院准许撤回。
2024-08-19Luzhou Laojiao filed three new trademark infringement lawsuits on August 21, against Shuangta District Shanglong Tobacco & Liquor Shop, Gongjing District Zhangjia Xiufei Food Store, and Luzhou Jinshunjiao Liquor Co., Ltd.泸州老窖于8月21日新增三起侵害商标权诉讼，被告分别为双塔区尚隆烟酒商行、贡井区章佳乡秀飞副食品经营部和泸州金顺窖酒业有限公司。
2024-09-05Luzhou Laojiao filed a trademark infringement lawsuit against Han Mou; the court (Chengdong District, Xining) allowed the plaintiff to withdraw the lawsuit on July 18, 2024.泸州老窖作为原告提起侵害商标权纠纷诉讼，西宁市城东区人民法院于2024年7月18日裁定准许原告撤回起诉。
2024-09-23A case of 'high imitation' Luzhou Laojiao products was handled by Huzhou Market Supervision Bureau: a business was fined 10,000 yuan and counterfeit goods confiscated for selling products imitating 'Luzhou Laojiao Tequ 60' and 'Guojiao 1573' packaging.湖州市市场监管局查处一起销售“高仿”泸州老窖商品案件：某单位因销售仿冒“泸州老窖特曲酒60版”和“国窖1573”包装的产品被罚款1万元并没收涉案商品。
2024-09-30Luzhou Laojiao has 3 upcoming trademark infringement lawsuits as plaintiff, with court dates on October 9 and October 29, 2024, in Lanzhou.泸州老窖作为原告有3起侵害商标权纠纷开庭公告，开庭日期分别为2024年10月9日和10月29日，均在兰州。
2024-11-15Luzhou Laojiao filed a trademark infringement lawsuit against Nanchang Mouyou Supermarket; the court (Nanchang Intermediate People's Court, Jiangxi) permitted the plaintiff to withdraw the lawsuit on December 18, 2023.泸州老窖诉南昌某优超市侵害商标权纠纷案，江西省南昌市中级人民法院于2023年12月18日裁定准许原告撤诉。
2024-11-27Luzhou Laojiao has a trademark infringement lawsuit scheduled for November 28, 2024, at Xi'an Chang'an District People's Court against Xi'an Chang'an District Yuanfayuan Tobacco and Alcohol Retail Store.泸州老窖诉西安市长安区源发源烟酒零售店侵害商标权纠纷案，将于2024年11月28日在西安市长安区人民法院开庭。
2024-11-30Luzhou Laojiao has a trademark infringement lawsuit scheduled for December 3, 2024, at Chongqing Liangjiang New Area People's Court against Jiangbei District Yujianglan Convenience Store.泸州老窖诉江北区玉江澜便利店侵害商标权纠纷案，将于2024年12月3日在重庆两江新区人民法院开庭。
2024-12-04Luzhou Laojiao faced an unfair competition lawsuit filed by Qionglai Jiangyang Distillery and others, scheduled for hearing on December 4, 2024, at the Sichuan High People's Court.泸州老窖因不正当竞争纠纷被四川省邛崃市江洋酒厂等起诉，2024年12月4日在四川省高级人民法院开庭。
2024-12-10Luzhou Laojiao filed a trademark infringement lawsuit against defendant Wu, scheduled for hearing on December 13, 2024, at Shaoxing Keqiao District People's Court.泸州老窖作为原告就侵害商标权纠纷起诉吴某某，2024年12月13日在绍兴市柯桥区人民法院开庭。
2024-12-21Luzhou Laojiao filed a trademark infringement lawsuit against Tangshan Gengjiu Liquor Co., Ltd., scheduled for hearing on December 24, 2024, at Tangshan High-tech Industrial Development Zone People's Court.泸州老窖作为原告就侵害商标权纠纷起诉唐山浭酒酒业有限公司，2024年12月24日在唐山高新技术产业开发区人民法院开庭。
2024-12-21Luzhou Laojiao was sued for trademark infringement by Lu, scheduled for hearing on December 24, 2024, at the High People's Court of Xinjiang Uygur Autonomous Region, Yili Kazakh Autonomous Prefecture Branch.泸州老窖因侵害商标权纠纷被陆某某起诉，2024年12月24日在新疆维吾尔自治区高级人民法院伊犁哈萨克自治州分院开庭。
2024-12-26Luzhou Laojiao filed a new trademark application for 'Longqi Chenxiang' (龙启陈香), bringing its total registered trademarks to 7,597, with 582 pending.泸州老窖新提交“龙启陈香”商标注册申请，截至目前共持有注册商标7597件，另有582件尚在申请中。
2025-01-02Luzhou Laojiao won a trademark infringement lawsuit against Xixian Fengjian Tobacco & Liquor Store, awarded RMB 20,000 in damages.泸州老窖在诉息县冯建烟酒商行商标侵权案中胜诉，获赔2万元。
2025-02-05Luzhou Laojiao files a trademark ownership dispute lawsuit against Toksun County Huixin Supermarket at the Gaochang District People's Court of Turpan (case no. (2025) Xin 2101 Min Chu 108).泸州老窖就商标权属纠纷起诉托克逊县惠鑫超市，案号（2025）新2101民初108号，审理法院为吐鲁番市高昌区人民法院。
2025-02-18Luzhou Laojiao is sued for trademark infringement by three individuals (Deng, Yang, Du) at the Yunnan Higher People's Court (case no. (2024) Yun Min Zhong 662).泸州老窖作为被告/被上诉人，涉及邓某某、杨某某、杜某某提起的侵害商标权纠纷上诉案，审理法院为云南省高级人民法院（案号（2024）云民终662号）。
2025-02-23Luzhou Laojiao wins a trademark infringement lawsuit against Anhui Tongbao Trading Co., which is ordered to stop infringement and pay RMB 6,000 in damages (case no. (2024) Wan 0621 Min Chu 5519).泸州老窖在侵害商标权纠纷案中胜诉，安徽通宝贸易有限公司被判停止侵权并赔偿6000元（案号（2024）皖0621民初5519号）。
2025-03-21Two court cases were filed by Luzhou Laojiao Co., Ltd. as the plaintiff for trademark infringement disputes, with a hearing date of March 24, 2025.泸州老窖股份有限公司作为原告提起2起侵害商标权纠纷诉讼，开庭日期为2025年3月24日。
2025-03-29Three additional court cases were filed by Luzhou Laojiao Co., Ltd. as the plaintiff for trademark infringement disputes, with a hearing date of April 1, 2025.泸州老窖股份有限公司作为原告再提起3起侵害商标权纠纷诉讼，开庭日期为2025年4月1日。
2025-03-30A judgment document shows that Luzhou Laojiao Co., Ltd. voluntarily withdrew a trademark infringement lawsuit against a retailer in Chifeng City, Inner Mongolia.判决书显示，泸州老窖股份有限公司自愿撤回对内蒙古赤峰市一零售商的侵害商标权诉讼。
2025-04-08Luzhou Laojiao was involved in two trademark infringement lawsuits: as plaintiff against Xin Shi Qu Yin Xin Lu Jin Ming Ding Shang Hang (hearing Apr 8, Urumqi), and as defendant against Yanji Fu Xiang Jiu Hang (hearing Apr 8, Yanbian).泸州老窖涉及两起侵害商标权纠纷：作为原告起诉新市区银鑫路金铭鼎商行（4月8日开庭，乌鲁木齐），以及作为被告被延吉市富翔酒行起诉（4月8日开庭，延边）。
2025-05-04Luzhou Laojiao Co., Ltd. registered a new trademark 'Luzhou Laojiao New Liquor Industry Baitiao' under International Class 32 (beer and beverages), trademark registration No. 62787318.泸州老窖股份有限公司申请注册“泸州老窖 新 酒业 百调”商标获核准，国际分类为32-啤酒饮料，商标注册号62787318。
2025-07-03Luzhou Laojiao won a trademark infringement lawsuit in Xi'an Lianhu District Court; another case was withdrawn in Shuozhou.泸州老窖在西安市莲湖区法院赢得商标侵权诉讼；另一起案件在朔州撤诉。
2025-07-05Luzhou Laojiao has a trademark infringement lawsuit scheduled for July 8, 2025 at Chengdu Jinjiang District Court.泸州老窖一起商标侵权纠纷案将于2025年7月8日在成都市锦江区法院开庭。
2025-08-04Luzhou Laojiao withdrew two unfair competition lawsuits against Shandong Guoyuan Liquor Group and others, with court permission in Changshu, Jiangsu.泸州老窖撤回对山东国缘酒业集团有限公司等的两起不正当竞争诉讼，获江苏省常熟市法院准许。
2025-08-15Luzhou Laojiao withdrew a trademark infringement lawsuit against defendant Huang in Xining, Qinghai, with court permission.泸州老窖撤回对被告黄某某在西宁的侵害商标权诉讼，获法院准许。
2025-08-30Luzhou Laojiao has a trademark infringement lawsuit hearing scheduled for September 2, 2025, at Chengdu Jinjiang District People's Court, as plaintiff.泸州老窖作为原告的侵害商标权纠纷案将于2025年9月2日在成都市锦江区人民法院开庭。
2025-09-02Luzhou Laojiao voluntarily withdrew a trademark infringement lawsuit against Xinhua District百货商行 (Hebei), as per court ruling (2025) Ji 8601 Min Chu No. 335 on Apr 15, 2025.泸州老窖在侵害商标权纠纷案中自愿撤诉，案号（2025）冀8601民初335号，判决日期2025年4月15日。
2026-01-24As plaintiff, a trademark infringement lawsuit (case (2025) Ji 8601 Min Chu No.1750) was withdrawn with court permission; defendant was Xinhua District store.作为原告的一起侵害商标权纠纷案（案号(2025)冀8601民初1750号）获法院准许撤诉；被告为新华区某店。
2026-01-24Upcoming court hearings: as plaintiff in trademark infringement case against Wang XX and Beijing Zhuanzhuan Jingshen Technology Co., Ltd. at Beijing Haidian District People's Court on January 27, 2026; as defendant in two trademark infringement cases also on January 27, 2026.即将开庭：作为原告起诉王某某、北京转转精神科技有限责任公司的商标权权属、侵权纠纷案于2026年1月27日在北京市海淀区人民法院开庭；作为被告的两起侵害商标权纠纷案也于同日开庭。
2026-01-25Upcoming court hearing: as plaintiff in trademark infringement lawsuit against Yunxiao County Rutong Food Store at Zhangpu County People's Court on January 28, 2026.即将开庭：作为原告起诉云霄县汝桐食品店的侵害商标权纠纷案于2026年1月28日在漳浦县人民法院开庭。
2026-02-27Luzhou Laojiao Co., Ltd. filed a trademark infringement lawsuit against defendant Du, with the case heard at Tianjin Hexi District People's Court on March 2, 2026. In the past year, Luzhou Laojiao has been involved in 309 historical court announcements, of which 226 were for trademark infringement disputes.泸州老窖股份有限公司作为原告，对被告杜某某提起侵害商标权纠纷诉讼，案件于2026年3月2日在天津市河西区人民法院开庭。近一年内，泸州老窖作为当事人的历史开庭公告有309则，其中案由为'侵害商标权纠纷'的公告有226则。
2026-03-03Luzhou Laojiao filed a trademark infringement lawsuit against Jinniu District Yangxin Henglongyue Liquor Business Department, with a court hearing scheduled for April 14, 2026 at Chengdu Jinniu District People's Court.泸州老窖对金牛区杨昕横陇玥酒业经营部提起侵害商标权纠纷诉讼，开庭日期为2026年4月14日，审理法院为成都市金牛区人民法院。
2026-03-03Luzhou Laojiao won a trademark infringement case against Baise Youjiang District Qingyun Food Business, which sold counterfeit Guojiao 1573 baijiu; court ordered defendant to pay 10,000 yuan in damages.泸州老窖诉百色市右江区青云食品商行销售假冒国窖1573白酒商标侵权案胜诉，法院判令被告赔偿经济损失及合理开支共计1万元。
2026-03-03Luzhou Laojiao filed a trademark infringement lawsuit against a defendant and Zhejiang Alibaba Xianyu Network Technology Co., Ltd., with a court hearing scheduled for March 6, 2026 at Quanzhou Fengze District People's Court.泸州老窖对某被告及浙江阿里巴巴闲鱼网络科技有限公司提起侵害商标权纠纷诉讼，开庭日期为2026年3月6日，审理法院为泉州市丰泽区人民法院。
2026-03-04Luzhou Laojiao filed a trademark infringement lawsuit against Tianjin Xiqing Zhishenghe Convenience Store and Tianjin Zhichengshang Trading Co., Ltd., with a court hearing scheduled for May 6, 2026 at Tianjin Heping District People's Court.泸州老窖对天津市西青区智盛和便利店、天津智诚和商贸有限公司提起侵害商标权诉讼，开庭日期为2026年5月6日，审理法院为天津市和平区人民法院。
2026-03-04Luzhou Laojiao's trademark infringement lawsuit against Baise Youjiang District Mingming Food Wholesale Business was dismissed by the court because the defendant was under criminal investigation for suspected selling counterfeit registered trademark goods.泸州老窖诉百色市右江区铭铭食品批发商行侵害商标权纠纷案被法院驳回起诉，因被告经营者涉嫌销售假冒注册商标的商品罪已被立案侦查。
2026-03-07Luzhou Laojiao filed a trademark infringement lawsuit against a defendant and Zhejiang Alibaba Xianyu Network Technology Co., Ltd., with a court hearing scheduled for March 10, 2026 at Yueyang Yueyanglou District People's Court.泸州老窖对某被告及浙江阿里巴巴闲鱼网络科技有限公司提起侵害商标权纠纷诉讼，开庭日期为2026年3月10日，审理法院为岳阳市岳阳楼区人民法院。
2026-03-08Luzhou Laojiao filed a trademark infringement lawsuit against a defendant and Xi'an Beilin Lishun Yao Tobacco and Alcohol Supermarket, with a court hearing scheduled for March 11, 2026 at Xi'an Beilin District People's Court.泸州老窖对某被告及西安市碑林区利顺耀烟酒超市提起侵害商标权纠纷诉讼，开庭日期为2026年3月11日，审理法院为西安市碑林区人民法院。
2026-03-09Luzhou Laojiao filed an unfair competition lawsuit against a defendant, Beijing Kuaishou Technology Co., Ltd., and Chengdu Kuaigou Technology Co., Ltd., with a court hearing scheduled for March 12, 2026 at Sichuan Tianfu New District People's Court.泸州老窖对某被告、北京快手科技有限公司及成都快购科技有限公司提起不正当竞争纠纷诉讼，开庭日期为2026年3月12日，审理法院为四川天府新区人民法院。
2026-03-16Luzhou Laojiao was named as a defendant in a trademark infringement lawsuit filed by Gu Yun, with a court hearing scheduled for May 27, 2026 at Shanghai Pudong New Area People's Court; co-defendants include China Post Group Sichuan Branch, Shanghai Youle Network Technology, and others.泸州老窖作为被告/被上诉人涉及顾允提起的侵害商标权纠纷，开庭日期为2026年5月27日，审理法院为上海市浦东新区人民法院，共同被告包括中国邮政集团有限公司四川省分公司等。
2026-03-16Luzhou Laojiao filed a trademark ownership and infringement lawsuit against Guizhou Xinxing Liquor Industry Co., Ltd. and Shenzhen Nanshan Xiaoshuai Department Store, with a court hearing scheduled for March 19, 2026 at Shenzhen Nanshan District People's Court.泸州老窖对贵州新兴酒业有限公司、深圳市南山区小帅百货店提起商标权权属、侵权纠纷诉讼，开庭日期为2026年3月19日，审理法院为广东省深圳市南山区人民法院。
2026-03-20Luzhou Laojiao filed a trademark infringement lawsuit against a defendant, with a court hearing scheduled for March 23, 2026 at Haikou Qiongshan District People's Court.泸州老窖对某被告提起侵害商标权纠纷诉讼，开庭日期为2026年3月23日，审理法院为海口市琼山区人民法院。
2026-03-24Luzhou Laojiao filed a trademark infringement lawsuit against a defendant and Zhejiang Alibaba Xianyu Network Technology Co., Ltd., with a court hearing scheduled for March 27, 2026 at Jinjiang People's Court.泸州老窖对某被告及浙江阿里巴巴闲鱼网络科技有限公司提起侵害商标权纠纷诉讼，开庭日期为2026年3月27日，审理法院为晋江市人民法院。
2026-03-29Luzhou Laojiao filed a trademark infringement lawsuit against Shanghai Juwangxi Catering Management Co., Ltd., with a court hearing scheduled for April 1, 2026 at Shanghai Jing'an District People's Court.泸州老窖对上海居旺熙餐饮管理有限公司提起侵害商标权纠纷诉讼，开庭日期为2026年4月1日，审理法院为上海市静安区人民法院。
2026-04-07Luzhou Laojiao withdrew a trademark infringement lawsuit against Shanghai Xunmeng Information Technology Co., Ltd. (Pinduoduo) and others in Haikou Qiongshan District People's Court, case (2026) Qiong 0107 Min Chu No. 1258, due to failure to pay litigation fees.泸州老窖因未预交案件受理费，在海口市琼山区人民法院撤回对上海寻梦信息技术有限公司（拼多多）等人的侵害商标权诉讼，案号（2026）琼0107民初1258号。
2026-05-12Luzhou Laojiao disclosed multiple trademark infringement lawsuits as plaintiff, with hearings scheduled in June-July 2026 in courts across Huzhou, Wuhan, Chengdu, Tianjin, and Nanjing.泸州老窖披露多起作为原告的侵害商标权纠纷开庭公告，开庭时间分布在2026年6-7月，涉及湖州、武汉、成都、天津、南京等地法院。
2026-06-07Luzhou Laojiao filed a new trademark application for 'Kunlu Xiaojiao' (昆泸小窖); year-to-date it has filed 47 new trademark applications, holding 7,597 registered trademarks.泸州老窖新提交“昆泸小窖”商标注册申请；今年以来共新申请47件商标，目前持有注册商标7,597件。
2026-06-08Luzhou Laojiao disclosed an upcoming court case as plaintiff for unfair competition dispute (case No. 2026 Chuan 0193 Min Chu 5916) against Shi, Chengdu Kuaigou Technology, and Beijing Kuaishou Technology, hearing on August 12, 2026.泸州老窖披露作为原告的不正当竞争纠纷开庭公告（案号(2026)川0193民初5916号），被告为史某、成都快购科技、北京快手科技，开庭日期2026年8月12日。
2026-06-17Luzhou Laojiao filed a trademark infringement lawsuit (case No. 2026 Hu 0104 Min Chu 12198) against Kun, Shanghai Xunmeng Information Technology (Pinduoduo), and Jin, hearing on August 24, 2026 at Shanghai Xuhui District Court.泸州老窖提起侵害商标权纠纷诉讼（案号(2026)沪0104民初12198号），被告为昆某、上海寻梦信息技术有限公司（拼多多）、金某，2026年8月24日开庭。
2026-06-22Luzhou Laojiao filed another trademark infringement lawsuit (case No. 2026 Yu 0192 Min Chu 22614) against Jiang, hearing on August 26, 2026 at Chongqing Liangjiang New Area Court.泸州老窖再提起侵害商标权纠纷诉讼（案号(2026)渝0192民初22614号），被告为江某，2026年8月26日开庭。
Executive and board changes高管与董事会变动
17 · 2024-02-01 → 2026-04-28
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Resignations, appointments, board elections, and supervisory board nominations辞职、任命、董事会选举和监事会提名
2024-02-01Wang Hongbo resigned as director and deputy general manager of Luzhou Laojiao due to retirement age, effective upon delivery of resignation report.王洪波因达到法定退休年龄辞去泸州老窖董事及副总经理职务，辞职报告送达董事会时生效。
2024-05-09At the 2023 annual performance briefing, Chairman Liu Miao stated that the term of the 10th Board of Directors expires in June 2024, and the company will hold a shareholders' meeting for re-election.在2023年度业绩说明会上，董事长刘淼表示第十届董事会任期至2024年6月，届时将召开股东大会进行换届选举。
2024-06-04Luzhou Laojiao's 10th Supervisory Board nominated Yang Ping, Zhou Lei, and Zhang Li as candidates for the 11th Supervisory Board non-employee supervisors, pending shareholder vote.泸州老窖第十届监事会提名杨平、周蕾、张莉为第十一届监事会非职工监事候选人，待股东大会选举。
2024-06-21Luzhou Laojiao's职工代表大会 elected Xiong Pingting as职工 director for the 11th board, and Li Guangjie and Li Lunyu as职工 supervisors for the 11th supervisory board.泸州老窖职工代表大会选举熊娉婷为第十一届董事会职工董事，李光杰、李伦玉为第十一届监事会职工监事。
2024-06-27Luzhou Laojiao's 11th board of directors held its first interim meeting and approved the appointment of the board secretary.泸州老窖第十一届董事会召开第一次临时会议，审议通过了聘任董事会秘书的议案。
2024-08-02The 11th board's 2nd meeting approved the appointment of Zhao Bingkun as deputy general manager, and reviewed the 2023-2025 performance assessment plan for management team.第十一届董事会第二次会议聘任赵丙坤为副总经理，并审议了管理团队2023-2025年考核执行方案。
2024-10-19Liao Jun (廖俊) appointed as Deputy Party Secretary, Vice Chairman, and President of Luzhou Laojiao Group Co., Ltd., effective Oct 18, 2024; previously served as Party Secretary of Xuyong County.廖俊被任命为泸州老窖集团有限责任公司党委副书记、副董事长、总裁，2024年10月18日生效；此前任叙永县委书记。
2024-12-24Luzhou Laojiao appointed Tang Dongliang as deputy general manager, effective with the 11th board term. Tang previously served as district mayor of Jiangyang District, Luzhou.泸州老窖聘任唐栋良为公司副总经理，任期与第十一届董事会一致。唐栋良此前曾任泸州市江阳区区长。
2025-05-28Director Qian Xu resigned from Luzhou Laojiao's 11th board of directors and audit committee due to personal reasons, effective immediately; he held the external director role for nearly 10 years since June 2015.董事钱旭因个人原因辞去泸州老窖第十一届董事会董事及审计委员会委员职务，辞职即日生效；其自2015年6月起担任外部董事近10年。
2025-06-01Director Qian Xu resigned from the board and audit committee due to personal reasons, effective upon delivery of resignation letter.董事钱旭因个人原因辞去董事会及审计委员会委员职务，辞职报告送达董事会时生效。
2025-06-16Board adjusted the composition of the Audit Committee: Lv Xianpei (chairman), Chen You'an, Li Guowang appointed.董事会调整审计委员会成员：吕先锫（主任委员）、陈有安、李国旺。
2025-07-09Former Luzhou Laojiao executive Chen Chao was appointed Party Secretary and Chairman of Fenggu Liquor, a local state-owned enterprise.原泸州老窖高管谌超被任命为丰谷酒业党委书记、董事长。
2025-12-03Director Ying Hanjie resigned from the 11th board of directors and the Remuneration and Appraisal Committee due to personal reasons, effective upon delivery of resignation letter.董事应汉杰因个人原因辞去第十一届董事会董事及薪酬与考核委员会委员职务，辞职自辞职报告送达董事会之日起生效。
2025-12-03The 11th board of directors at its 18th meeting nominated Yi Zhi and Chen Guoxiang as candidates for independent directors of the 11th board, and approved the convening of the second extraordinary general meeting of 2025.第十一届董事会十八次会议提名益智先生、陈国祥先生为第十一届董事会独立董事候选人，并审议通过召开2025年第二次临时股东会。
2025-12-25The second extraordinary general meeting of 2025 elected Yi Zhi and Chen Guoxiang as independent directors of the 11th board, with Yi Zhi receiving 99.28% of voting shares; the meeting was legally valid.2025年第二次临时股东会选举益智先生和陈国祥先生为第十一届董事会独立董事，益智获99.28%同意票；会议程序合法有效。
2026-03-30Luzhou Laojiao's 11th Board of Directors approved an adjustment to the members of the Board's Remuneration and Assessment Committee.泸州老窖第十一届董事会审议通过了《关于调整第十一届董事会专门委员会委员的议案》，调整了薪酬与考核委员会成员。
2026-04-28Luzhou Laojiao's 11th Board of Directors 24th meeting was held on April 27, 2026, reviewing documents including the '2025 Board of Directors Work Report'.泸州老窖第十一届董事会二十四次会议于2026年4月27日召开，审议了《2025年度董事会工作报告》等文件。
Subsidiary capital increases子公司增资
6 · 2024-02-02 → 2025-11-13
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Capital increases at Luzhou Laojiao Capital Holdings, Puxin Chanrong, and Brewing subsidiary泸州老窖资本控股、璞信产融和酿酒子公司增资
2024-02-02Luzhou Laojiao Capital Holdings Co., Ltd. increased registered capital from 170 million yuan to approximately 607 million yuan, a 257% increase.泸州老窖资本控股有限责任公司注册资本由1.7亿元增至约6.07亿元，增幅约257%。
2024-03-06Sichuan Puxin Chanrong Investment Co., Ltd., a subsidiary of Luzhou Laojiao, increased its registered capital from 450 million yuan to approximately 706 million yuan, a 56.78% increase, with Luzhou Laojiao Capital Holdings Co., Ltd. becoming a new shareholder.泸州老窖旗下四川璞信产融投资有限责任公司注册资本由4.5亿元增至约7.06亿元，增幅约56.78%，新增泸州老窖资本控股有限责任公司为股东。
2024-07-05Luzhou Laojiao Brewing Co., Ltd. increased its registered capital from approximately 310 million yuan to approximately 488 million yuan.泸州老窖酿酒有限责任公司注册资本由约3.1亿元增至约4.88亿元。
2025-05-26Luzhou Laojiao Capital Holdings Co., Ltd. increased its registered capital from approximately 607 million yuan to approximately 1.527 billion yuan, an increase of about 152%.泸州老窖资本控股有限责任公司注册资本由约6.07亿元增至约15.27亿元，增幅约152%。
2025-11-05Capital Holdings subsidiary increased registered capital from ~1.53 billion yuan to ~2.03 billion yuan (33% increase); legal representative and several executives changed.泸州老窖资本控股有限责任公司注册资本由约15.3亿元增至约20.3亿元（增幅约33%）；法定代表人及多位主要人员变更。
2025-11-13Luzhou Laojiao Group Commercial Investment Co., Ltd. increased registered capital from 100 million yuan to 500 million yuan (400% increase); established April 2025, wholly owned by Luzhou Laojiao Group.泸州老窖集团商业投资有限公司注册资本由1亿元增至5亿元（增幅400%）；该公司成立于2025年4月，由泸州老窖集团全资持股。
Capacity expansion and smart brewing产能扩张与智慧酿造
13 · 2024-02-02 → 2026-05-29
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Huangyi Eco-Park, 80kt smart brewing project, and base liquor capacity upgrades黄舣生态园、8万吨智能酿造项目和基酒产能提升
2024-02-02Luzhou Laojiao disclosed that its existing base liquor production capacity is 170,000 tons, and high-end liquor capacity fully meets current sales demand.泸州老窖披露现有基酒产能17万吨，高端酒产能充分满足现阶段销售需求。
2024-05-07Luzhou Laojiao stated that its existing base liquor production capacity is 170,000 tons, and the first phase of the intelligent brewing technical renovation project will add 80,000 tons of base liquor capacity, currently under construction.泸州老窖表示现有基酒产能17万吨，智能酿造技改项目（一期）将新增8万吨基酒产能，目前正在建设中。
2024-05-22Luzhou Laojiao stated that the Huangyi Brewing Ecological Park brewing project added over 20,000 pits and increased high-quality pure grain solid-state base liquor capacity by 100,000 tons per year.泸州老窖表示黄舣酿酒生态园酿酒工程技改项目新建2万余口窖池，新增优质纯粮固态基酒年产能10万吨。
2024-06-07Luzhou Laojiao disclosed that as of end-2023, it had 42,250 tons of finished liquor inventory and 430,838 tons of semi-finished liquor (including base liquor); the Huangyi Brewing Ecological Park, fully operational since end-2020, added 100,000 tons/year of high-quality solid-state baijiu capacity, 100,000 tons/year of jiuqu capacity, and 380,000 tons of liquor storage capacity.泸州老窖披露截至2023年末成品酒库存42250吨，半成品酒（含基础酒）430838吨；黄舣酿酒生态园自2020年底全面投产后，新增优质纯粮固态白酒10万吨/年、酒曲10万吨/年产能和38万吨储酒能力。
2024-07-09Luzhou Laojiao stated that its inventory turnover slowed due to the high-quality liquor capacity expansion project and finished product shelf-life management; it confirmed plans to build an additional 80,000 tons of base liquor capacity.泸州老窖表示存货周转放缓系优质酒产能提升计划和成品酒货架期管理所致，并确认计划新建8万吨基酒产能。
2024-07-30Luzhou Laojiao stated that its intelligent brewing technical renovation project (Phase I) is progressing as planned, with a construction period from 2022 to 2026.泸州老窖表示其智能酿造技改项目（一期）正按计划稳步推进，建设期为2022-2026年。
2024-08-27Luzhou Laojiao confirmed that its intelligent brewing technology renovation project (Phase I) is progressing as planned, in response to investor queries about capacity expansion over the next 3-5 years.泸州老窖确认智能酿造技改项目（一期）正按计划稳步推进，回应投资者关于未来3-5年产能扩建的提问。
2024-10-15Company confirmed it is implementing the 'Liquor-making Engineering Technical Renovation Project' and 'Luzhou Laojiao Intelligent Brewing Technical Renovation Project (Phase 1)' to boost automation, intelligence, base liquor production/storage capacity, and sustainable development.公司确认正在实施酿酒工程技改项目、泸州老窖智能酿造技改项目（一期），以推动自动化、智能化、信息化酿造，提升基酒产储能力。
2025-02-18Luzhou Laojiao discloses that its Huangyi Brewing Ecological Park, fully operational since end-2020, added 100,000 tons/year base liquor capacity and 380,000 tons storage capacity, raising total base liquor capacity to 170,000 tons; a smart brewing tech upgrade project (Phase I) is under construction.泸州老窖披露黄舣酿酒生态园2020年底全面投产，新增基酒10万吨/年产能和38万吨储酒能力，基酒总产能达17万吨；智能酿造技改项目（一期）在建中。
2025-02-24Luzhou Laojiao's smart brewing tech upgrade project in Sichuan Luzhou Baijiu Industrial Park, with total investment of RMB 8.848 billion and planned area of 950 mu, begins Phase I construction (started Sep 2024).泸州老窖智能酿造技改项目位于四川泸州白酒产业园，总投资88.48亿元，规划用地950亩，一期于2024年9月开工。
2025-06-23Main structure of Luzhou Laojiao Intelligent Brewing Technical Renovation Project (Phase I) completed; total investment RMB 4.783 billion, annual base liquor capacity 80,000 tons, storage capacity 104,000 tons.泸州老窖智能酿造技改项目（一期）主体完工，总投资47.83亿元，年产基酒8万吨、储酒10.4万吨。
2026-01-25Luohans Brewing Ecological Park upgrade and renovation project (Phase 2 and 3) awarded to China Construction Fourth Engineering Division Corp., Ltd. with winning bid amount of 177,407,661.94 yuan.泸州老窖罗汉酿酒生态园提升改造项目二、三标段由中国建筑第四工程局有限公司中标，中标金额177,407,661.94元。
2026-05-29Luzhou Laojiao's 'Luohan Pit Group' (2016 pits in 8 workshops) was designated as a provincial-level cultural relic protection unit, making Luzhou Laojiao the only baijiu company with 'living heritage' pits from Ming, Qing, Republic, and PRC eras.泸州老窖“罗汉窖池群”（8个车间2016口窖池）入选省级文物保护单位，泸州老窖成为唯一完整拥有明、清、民国及中华人民共和国时期“活态文物”窖池群的白酒企业。
Joint ventures and partnerships合资公司与合作伙伴
18 · 2024-02-05 → 2026-04-27
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China-Malaysia mining JV, Habanos cigar, Tontine Wines, and various equity funds中马矿业合资、哈伯纳斯雪茄、通廷葡萄酒及各类股权基金
2024-02-05China-Malaysia International Mining (Sichuan) Co., Ltd. was established with registered capital of 30 million yuan, jointly held by Luzhou Laojiao International Industrial Co., Ltd.中马国际矿业(四川)有限公司成立，注册资本3000万元，由泸州老窖国际实业有限责任公司等共同持股。
2024-03-02Luzhou Laojiao signed a strategic cooperation agreement with Habanos S.A., the Cuban cigar company, at the 24th Cuba International Cigar Festival, covering co-branded products, cultural exchange, brand marketing, and market promotion.泸州老窖在第24届古巴国际雪茄节上与古巴哈伯纳斯集团签署战略合作协议，涉及产品联名、文化交流、品牌营销和市场推广等领域。
2024-03-02Luzhou Laojiao and Habanos S.A. plan to jointly launch a product under the 'Guojiao 1573' brand and the 'Cohiba Atmosphere' brand, with 7 bottles of Guojiao 1573 auctioned for Cuban public health.泸州老窖与哈伯纳斯集团计划联合推出‘国窖1573’品牌与‘高希霸Atmosphere’品牌产品，7瓶国窖1573拍卖用于古巴公共卫生事业。
2024-05-17Shouzhong (Sichuan) International Trade Co., Ltd. was established, with a registered capital of 40 million yuan, jointly held by Luzhou Laojiao International Industry Co., Ltd. (51%) and Liuan Steel Holding Group Co., Ltd. (49%).首众（四川）国际贸易有限责任公司成立，注册资本4000万元，由泸州老窖国际实业有限责任公司（51%）和六安钢铁控股集团有限公司（49%）共同持股。
2024-05-29Tontine Wines Group (00389.HK) signed a strategic cooperation agreement with Luzhou Laojiao New Liquor Co., Ltd., an indirect wholly-owned subsidiary of Luzhou Laojiao, to jointly develop new products and expand distribution channels.通天酒业（00389.HK）与泸州老窖新酒业有限公司签订策略合作协议，共同研发新产品，扩大分销渠道。
2024-09-03Luzhou Laojiao's subsidiary Sichuan Puxin Chanrong Investment Co., Ltd. jointly established Jiaxing Yihong Equity Investment Partnership (3.01 billion yuan) with SAIC Motor's Shanghai SAIC Hengxu Investment Management Co., Ltd., focusing on equity investment.泸州老窖旗下四川璞信产融投资有限责任公司与上汽旗下上海上汽恒旭投资管理有限公司共同出资成立嘉兴屹弘股权投资合伙企业（出资额3.01亿元），从事股权投资业务。
2024-10-22Luzhou Laojiao Group, through its subsidiary Sichuan Jindou Investment Co., Ltd., co-founded 'Jinxiang Yuanduo No.3 (Shenzhen) Investment Partnership' with a capital of 200 million yuan, for investment and management consulting.泸州老窖集团旗下四川金舵投资有限责任公司等共同出资成立金祥远舵叁号（深圳）投资合伙企业，出资额2亿元，从事投资和管理咨询。
2024-11-20Chengdu Jinsheng No.1 Enterprise Management Partnership (Limited Partnership) was established with a capital contribution of 701 million yuan; partners include Luzhou Laojiao's subsidiary Foshan Jinchun No.2 Venture Capital Partnership.成都金晟壹号企业管理合伙企业（有限合伙）成立，出资额7.01亿元，合伙人包括泸州老窖旗下佛山金醇贰号创业投资合伙企业（有限合伙）。
2024-12-02Luzhou Laojiao established Chengdu Jinhui Shenghe Enterprise Management Partnership (limited partnership) with a registered capital of 301 million yuan, involving its subsidiary Jinhui Honghu (Shenzhen) Enterprise Management Co., Ltd.泸州老窖旗下金惠红湖（深圳）企业管理有限公司等共同出资成立成都金辉盛和企业管理合伙企业（有限合伙），注册资本3.01亿元。
2024-12-16Luzhou Laojiao Group, through its subsidiary Sichuan Puxin Chanrong Investment Co., Ltd., co-founded Shenzhen Hongtu Puxin Private Equity Investment Fund Partnership (limited partnership) with a capital of 500 million yuan.泸州老窖集团旗下四川璞信产融投资有限责任公司等共同出资成立深圳市红土璞信私募股权投资基金合伙企业（有限合伙），出资额5亿元。
2025-01-03Luzhou Laojiao established Foshan Boke Jinduo Venture Capital Partnership (limited partnership) with a capital contribution of RMB 300 million, involving its subsidiaries Sichuan Jindu Investment and Luzhou Laojiao Postdoctoral Workstation Kechuang.泸州老窖通过旗下四川金舵投资等共同出资3亿元成立佛山博科金铎创业投资合伙企业（有限合伙）。
2025-02-20Luzhou Laojiao Group, via subsidiary Sichuan Puxin Chanrong Investment, co-founds Hunan Xiangtou Puxin Equity Investment Partnership (RMB 500 million) with Hunan Energy Group and Changsha Industrial Investment Fund.泸州老窖集团旗下四川璞信产融投资有限责任公司与湖南能源集团等共同出资设立湖南湘投璞信股权投资合伙企业，出资额5亿元。
2025-02-26Luzhou Laojiao's subsidiary Sichuan Jinzou Investment Co. co-founds Chengdu Jinyao No.1 Enterprise Management Partnership (RMB 842 million) with Jinhui Honghu (Shenzhen) Enterprise Management Co.泸州老窖旗下四川金舵投资有限责任公司与金惠红湖（深圳）企业管理有限公司等共同出资设立成都金耀壹号企业管理合伙企业，出资额8.42亿元。
2025-05-03Luzhou Laojiao International Industry, via its joint venture Sino-Malaysia International Mining (Sichuan) Co., Ltd. (established Feb 2024, registered capital 30 million yuan), completed the first shipment of 48,000 tons of bauxite from Malaysia's Kuantan Port to China's Fangchenggang Port.泸州老窖国际实业通过合资公司中马国际矿业（四川）有限公司（2024年2月成立，注册资本3000万元），完成首船4.8万吨铝土矿从马来西亚关丹港至中国防城港的进口全流程操作。
2025-07-30Luzhou Laojiao, through its subsidiary Sichuan Jindiao Investment, co-established 'Jinxiang Yuandong No.4 (Shenzhen) Investment Partnership' with capital of about 140 million yuan.泸州老窖通过旗下四川金舵投资等共同成立'金祥远舵肆号（深圳）投资合伙企业（有限合伙）'，出资额约1.4亿元。
2025-10-27Luzhou Laojiao Group (via subsidiary Sichuan Jintou Investment) co-founded Shenzhen Jinruiyijia Investment Partnership (limited partnership) with capital of approximately 476 million yuan.泸州老窖集团通过子公司四川金舵投资等共同出资成立深圳市金瑞益佳投资合伙企业（有限合伙），出资额约4.76亿元。
2026-01-21Foshan Jinchun No.4 Venture Capital Partnership (limited partnership) established with capital contribution of 495 million yuan, jointly funded by Sichuan Jindou Investment Co., Ltd. under Luzhou Laojiao Group.佛山金醇肆号创业投资合伙企业（有限合伙）成立，出资额4.95亿元，由泸州老窖集团旗下四川金舵投资有限责任公司等共同出资。
2026-04-27Chengdu Jinyu No.2 Enterprise Management Partnership (Limited Partnership) was established, with a capital contribution of approximately 185 million yuan, jointly funded by Luzhou Laojiao's Sichuan Jindou Investment Co., Ltd., Shenzhen Xiyu Zhishan Communication Partnership, and Jinhui Honghu (Shenzhen) Enterprise Management Co., Ltd.成都金羽贰号企业管理合伙企业（有限合伙）成立，出资额约1.85亿元，由泸州老窖旗下四川金舵投资有限责任公司等共同出资。
Policy advocacy and heritage政策倡导与文化遗产
6 · 2024-03-05 → 2025-10-23
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UNESCO heritage push, intangible cultural heritage awards, and archive inscription推动联合国教科文组织遗产、非遗奖项和档案入选
2024-03-05Zeng Na, a national NPC deputy and 23rd-generation inheritor of Luzhou Laojiao's traditional brewing technique, proposed over ten suggestions including promoting Chinese baijiu for UNESCO World Heritage status, improving cultural heritage legislation, and seeking international trade policies for liquor.全国人大代表、泸州老窖酒传统酿制技艺第23代传承人曾娜提出十余条建议，包括推动中国白酒申报世界遗产、健全文化遗产立法保护、争取酒类国际贸易政策等。
2024-03-28Luzhou Laojiao was selected as the only nongxiang baijiu enterprise and the only Sichuan liquor enterprise in the national list of 'Intangible Cultural Heritage Productive Protection Demonstration Bases'.泸州老窖入选国家级非物质文化遗产生产性保护示范基地名单，是浓香型白酒企业和川酒企业中唯一入选单位。
2024-11-13Luzhou Laojiao's submission 'National Treasure Journey: Experiencing Living Intangible Cultural Heritage' won the 'Excellent Case of Intangible Cultural Heritage and Tourism Integration' at the 2024 'Revitalize Intangible Cultural Heritage·Tianfu Night' event.泸州老窖报送的《“国宝”之旅体验“活”非遗》荣获2024“焕新非遗·天府之夜”活动“非遗与旅游融合优秀案例”。
2025-03-06Zeng Na, a National People's Congress representative and 23rd-generation inheritor of Luzhou Laojiao's traditional brewing technique, proposed accelerating the joint application of Chinese baijiu for UNESCO World Heritage status.全国人大代表、泸州老窖酒传统酿制技艺第23代传承人曾娜建议加快推动中国白酒联合申报世界遗产进程。
2025-06-10Luzhou Laojiao archive documents (1771-1983) were inscribed into the China Archives Literature Heritage List, the first liquor industry entry.泸州老窖档案文献（1771-1983）入选《中国档案文献遗产名录》，为首个酒类文献遗产。
2025-10-23MIIT released draft guidance listing brewing as a 'historical classic industry'; Luzhou Laojiao stated its '136' strategy aligns, citing smart brewing projects, Huangyi Brewing Eco-Park, and intelligent packaging center.工信部发布指导意见征求意见稿，将酿酒产业纳入“历史经典产业”；泸州老窖回应称其“136”战略高度契合，并提及智能酿造项目、黄舣酿酒生态园和智能化包装中心。
Strategic planning and annual guidance战略规划与年度指引
15 · 2024-03-07 → 2026-03-23
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136 strategy, 15th Five-Year plan, revenue targets, and market value management136战略、十五五规划、营收目标和市值管理
2024-03-07Luzhou Laojiao released a 'Quality and Return Dual Improvement' action plan, reaffirming its '136' strategy for the 14th Five-Year Plan, targeting a return to the top three in the baijiu industry.泸州老窖发布‘质量回报双提升’行动方案，重申十四五‘136’战略规划，目标重回白酒行业前三。
2024-04-27Luzhou Laojiao set its 2024 revenue growth target at no less than 15% year-on-year, consistent with the 2023 target.泸州老窖设定2024年营收目标为同比增长不低于15%，与2023年目标一致。
2024-05-09At the 2023 annual performance briefing, Chairman Liu Miao stated that the company's 2024 target is to achieve year-on-year revenue growth of no less than 15%.在2023年度业绩说明会上，董事长刘淼表示公司2024年目标为力争实现营业收入同比增长不低于15%。
2024-06-07Luzhou Laojiao stated on the investor互动平台 that it aims for 2024 revenue growth of no less than 15% year-on-year, and confirmed its production and operations are normal.泸州老窖在投资者互动平台表示，2024年力争实现营业收入同比增长不低于15%的年度总目标，并确认生产经营正常。
2024-07-30Luzhou Laojiao stated it has no plan to issue a semi-annual performance forecast and will disclose its 2024 semi-annual report on August 31.泸州老窖表示无发布半年度业绩预告计划，将在8月31日披露2024年半年报。
2024-10-31Company's 2024 annual target is revenue growth of no less than 15% YoY (i.e., at least 34.768 billion yuan); Q4 revenue would need to exceed 10.464 billion yuan, implying 26.21% YoY growth.公司2024年经营目标为营收同比增长不低于15%（即至少347.68亿元）；第四季度营收需不低于104.64亿元，同比增速需达26.21%。
2024-12-24Luzhou Laojiao disclosed its 'Market Value Management System', focusing on cash dividends, mergers, equity incentives, and share buybacks to enhance investment value.泸州老窖披露《市值管理制度》，明确通过现金分红、并购重组、股权激励、股份回购等方式提升投资价值。
2024-12-28At the 2024 core dealer conference in Fuzhou, Luzhou Laojiao proposed six mindset shifts for 2025, emphasizing digitalization, consumer-centric approaches, and refined management.在福州举行的2024年核心经销客户会议上，泸州老窖提出2025年六大思维转变，强调数字化、消费者导向和精细化管理。
2025-01-06Luzhou Laojiao set 2025 as 'Digital Implementation Year', focusing on digital transformation with themes of 'digital landing, mechanism innovation, intensive breakthrough, comprehensive攻坚'.泸州老窖将2025年定为“数字化落地年”，围绕“数字落地、机制创新、精耕突破、全面攻坚”推进数字化转型。
2025-03-02Luzhou Laojiao Chairman Liu Miao stated at the dealer conference that the company has set a preliminary '15th Five-Year Plan' target for baijiu revenue to exceed 100 billion yuan and stock market value to exceed 1 trillion yuan.泸州老窖董事长刘淼在经销商大会上表示，初步构建的“十五五”目标包括白酒营收超过1000亿元，股票市值超过1万亿元。
2025-03-02Luzhou Laojiao announced it will deepen market penetration, focusing on sinking into district, county, township, and even village-level markets, and will seize the opportunity of lower-alcohol baijiu products.泸州老窖宣布将精耕细作，推动不同品类产品深耕区县、乡镇甚至村级市场，并重点抓住白酒产品低度化机遇。
2025-05-16At the 2024 annual performance briefing, Luzhou Laojiao stated its 2025 business target is 'steady progress in full-year revenue', not a specific growth number.在2024年度业绩说明会上，泸州老窖表示2025年经营目标为“全年营业收入稳中求进”，未给出具体增速。
2025-05-16At the 2024 annual performance briefing, Luzhou Laojiao said it will focus on low-alcohol, younger-generation, and scenario-based consumption; channel inventory is safe and controllable under the terminal quota system.在2024年度业绩说明会上，泸州老窖表示将聚焦低度化、年轻化、场景化消费；终端配额制下渠道库存安全可控。
2025-06-27Chairman Liu Miao set 2025 business goal as 'steady progress in revenue' and outlined four strategic priorities: lower alcohol, younger consumers, scenario-based, and digital-intelligent.董事长刘淼设定2025年经营目标为营收稳中求进，提出“低度化、年轻化、场景化、数智化”四大战略。
2026-03-23Luzhou Laojiao released its '15th Five-Year' strategic development plan outline, the '156' strategy, aiming to build six excellence systems including market expansion, cultural branding, quality capacity, digital integration, organizational talent, and industrial ecosystem.泸州老窖发布“十五五”发展战略规划纲要即“156”战略，构建六大卓越体系：市场拓展、文化品牌、品质产能、数智融合、组织人才、产业生态。
Overseas expansion海外扩张
16 · 2024-03-11 → 2026-01-30
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70+ country network, Hong Kong/North America subsidiaries, and international exhibitions覆盖70+国家网络、香港/北美子公司和国际展会
2024-03-11Chairman Liu Miao announced that Luzhou Laojiao has established distribution networks in over 70 countries and regions, becoming one of the most visible Chinese baijiu brands overseas.董事长刘淼宣布泸州老窖已在全球70多个国家和地区建立经销网络，成为海外能见度最高的中国白酒品牌之一。
2024-04-15Luzhou Laojiao Group held a strategy promotion meeting for its international business arm, Laojiao International Industry, with PwC Strategy& attending, to discuss 2024 business plans and strategic implementation.泸州老窖集团召开国际实业战略推进会暨2024年经营计划会，战略咨询机构普华永道思略特参会，讨论战略落地及2024年经营计划。
2024-04-27Luzhou Laojiao's 2023 annual report showed domestic revenue of 30.056 billion yuan (+20.37% YoY) and overseas revenue of 177 million yuan (+15.74% YoY).泸州老窖2023年年报显示，境内营收300.56亿元（同比+20.37%），境外营收1.77亿元（同比+15.74%）。
2024-07-16Luzhou Laojiao disclosed it has three overseas subsidiaries, including Luzhou Laojiao International Development (Hong Kong) Co., Ltd. and Luzhou Laojiao Commercial Development (North America) Co., Ltd., to expand overseas markets.泸州老窖披露其设立了泸州老窖国际发展（香港）有限公司、泸州老窖商业发展（北美）股份有限公司等3家境外子公司，以拓展境外市场。
2024-09-24Luzhou Laojiao participated as a strategic partner in the 2024 'Belt and Road' Trade and Investment Forum; GM Lin Feng stated products are sold in over 70 countries and regions, with brand counters in 71 mainstream international airport duty-free terminals across 15 countries.泸州老窖以战略合作伙伴身份亮相2024年“一带一路”贸易投资论坛；总经理林锋表示产品已销售至70多个国家和地区，在15个国家的71个主流国际机场免税终端建立品牌专柜。
2024-11-26Luzhou Laojiao stated on the investor interactive platform that product low-alcoholization is a long-term trend and the company is working to expand overseas markets.泸州老窖在投资者互动平台表示，产品低度化是长期趋势，公司正在努力拓展海外市场。
2024-12-17Luzhou Laojiao disclosed it has set up three overseas subsidiaries, including Luzhou Laojiao International Development (Hong Kong) Co., Ltd. and Luzhou Laojiao Business Development (North America) Co., Ltd., to expand overseas markets through innovative marketing strategies.泸州老窖披露已设立泸州老窖国际发展（香港）有限公司、泸州老窖商业发展（北美）股份有限公司等3家境外子公司，通过创新营销策略拓展境外市场。
2025-02-12Luzhou Laojiao participates in 'Sichuan Liquor Global Tour' in Paris, showcasing core products at Wine Paris exhibition to expand international market.泸州老窖参加“川酒全球行”巴黎站，在Wine Paris展会上展示核心产品，拓展国际市场。
2025-04-16Luzhou Laojiao confirmed it has set up 3 overseas subsidiaries: Luzhou Laojiao International Development (Hong Kong) Co., Ltd. and Luzhou Laojiao Commercial Development (North America) Co., Ltd., to expand overseas markets.泸州老窖确认设立了泸州老窖国际发展（香港）有限公司、泸州老窖商业发展（北美）股份有限公司等3家境外子公司，积极拓展境外市场。
2025-05-20Luzhou Laojiao disclosed it has 3 overseas subsidiaries: Luzhou Laojiao International Development (Hong Kong) Co., Ltd. and Luzhou Laojiao Commercial Development (North America) Co., Ltd., etc., for overseas market expansion.泸州老窖披露设有3家境外子公司：泸州老窖国际发展（香港）有限公司、泸州老窖商业发展（北美）股份有限公司等，拓展境外市场。
2025-07-01Luzhou Laojiao disclosed 2024 overseas revenue of approximately 186 million yuan, accounting for 0.60% of total revenue.泸州老窖披露2024年境外营收约1.86亿元，占总营收0.60%。
2025-07-04Luzhou Laojiao stated it has established Luzhou Laojiao International Development (Hong Kong) Co., Ltd. and Luzhou Laojiao Commercial Development (North America) Inc., with overseas sales network covering 70 countries and regions including 24 Belt and Road countries.泸州老窖表示已成立泸州老窖国际发展（香港）有限公司和泸州老窖商业发展（北美）股份有限公司，海外销售网络覆盖70个国家和地区，包括24个'一带一路'沿线国家。
2025-12-01Luzhou Laojiao stated that it has set up three overseas subsidiaries including Luzhou Laojiao International Development (Hong Kong) Co., Ltd. and Luzhou Laojiao Commercial Development (North America) Co., Ltd., and is actively expanding overseas markets through innovative marketing strategies tailored to local consumption habits.泸州老窖表示，已设立泸州老窖国际发展（香港）有限公司、泸州老窖商业发展（北美）股份有限公司等3家境外子公司，通过开展契合当地市场消费习惯的创新营销策略，积极拓展和布局境外市场。
2026-01-14Announced on investor platform: the company has built an extensive global sales network under its internationalization strategy.在投资者平台宣布：公司国际化战略已构建起广泛而深入的全球销售网络。
2026-01-27Announced on investor platform: 2024 overseas revenue was approximately 186 million yuan, accounting for 0.60% of total revenue.在投资者平台宣布：2024年境外营收约1.86亿元，占总营收比例0.60%。
2026-01-30Announced on investor platform: overseas distribution network covers 70 countries and regions including North America, Europe, Australia-New Zealand, and Belt and Road countries; brand counters set up in 71 duty-free terminals across 15 countries.在投资者平台宣布：海外经销网络覆盖北美、欧洲、澳新及“一带一路”沿线国家等全球70个国家和地区；已在15个国家的71个主流国际机场免税终端设立品牌专柜。
Cultural & promotional events文化与推广活动
8 · 2024-03-11 → 2026-06-25
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Luzhou Laojiao released a corporate culture manifesto, sponsored a CCTV program, participated in the Summer Davos Forum, and held promotional events.泸州老窖发布企业文化宣言，赞助央视节目，参加夏季达沃斯论坛，并举办推广活动。
2024-03-11At the 2024 Guojiao 1573 Fengcang Ceremony, Chairman Liu Miao stated that Luzhou Laojiao has built the Huangyi Brewing Ecological Park, the largest and most advanced in China's baijiu industry, leading the sector into the digital era.在2024年国窖1573封藏大典上，董事长刘淼表示泸州老窖建成了中国白酒行业投资最大、起点最高、技术最先进的黄舣酿酒生态园，引领行业进入数字时代。
2024-06-25Luzhou Laojiao became a strategic partner of the 2024 China Agricultural International Economic and Trade Cooperation Conference, with Vice President and Chief Engineer Shen Caihong delivering a speech.泸州老窖成为2024中国农业国际经贸合作会议战略合作伙伴，副总经理、总工程师沈才洪在开幕式上发表致辞。
2024-07-01Luzhou Laojiao became a strategic partner of the 2024 China Agricultural International Economic and Trade Cooperation Conference, hosted by the China Chamber of International Commerce.泸州老窖成为2024中国农业国际经贸合作会议战略合作伙伴，该会议由中国国际商会主办。
2024-11-05Luzhou Laojiao exclusively sponsored the second season of CCTV's large cultural program 'Intangible Cultural Heritage in China', which concluded on October 26.泸州老窖独家冠名的中央广播电视总台大型文化节目《非遗里的中国》第二季于10月26日收官。
2025-07-22Luzhou Laojiao released its corporate culture manifesto 'Symbiosis Philosophy' (Gongsheng Zhexue), marking the 3.0 phase of its cultural system.泸州老窖发布《共生哲学——泸州老窖企业文化纲领》，标志着文化体系进入3.0阶段。
2025-10-18Luzhou Laojiao exhibited at the 23rd China International Alcoholic Drinks Expo (CIADE) with theme 'Riding the Waves, Chinese Nongxiang', showcasing core products and cross-border innovations (perfume, chocolate, wine lees mask, Guoxian fruit wine).泸州老窖以“逐浪前行 中国浓香”为主题参展第二十三届中国国际酒业博览会，展示核心产品及跨界创新产品（香水、巧克力、酒糟面膜、国仙果酿酒）。
2026-05-25Luzhou Laojiao announced the winning bidder for the 2026 Beijing high-end PR promotion project: Beijing Benchmark Sports Culture Co., Ltd., with a winning bid of 1.6 million yuan.泸州老窖公布北京地区2026年公关高端推广项目成交供应商：北京标杆体育文化有限公司，中标金额160万元。
2026-06-25Luzhou Laojiao participated in the 2026 Summer Davos Forum 'Tianjin Night' event, showcasing its premium brand Guojiao 1573 and promoting intelligent brewing and digital transformation.泸州老窖参与2026夏季达沃斯论坛“天津之夜”活动，携超高端品牌国窖1573亮相，展示智能酿造和数字化转型成果。
Sales performance and dealer network销售业绩与经销商网络
14 · 2024-03-12 → 2026-05-22
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Record sales, dealer growth, channel inventory, and bottle-opening KPI创纪录销售、经销商增长、渠道库存和开瓶率KPI
2024-03-12At the 2023-2024 dealer conference, General Manager Lin Feng reported that 2023 sales hit a record high, with Guojiao 1573 and Luzhou Laojiao brands achieving major breakthroughs, core products and channels surpassing 1 billion yuan each, and the national dealer network growing threefold year-on-year.在2023-2024年度经销商会议上，总经理林锋表示2023年销售规模创纪录，国窖1573和泸州老窖品牌实现重大突破，核心单品和渠道均突破10亿元，全国经销网络同比增长3倍。
2024-03-12General Manager Lin Feng stated that during the 2024 Spring Festival, all Luzhou Laojiao products achieved smooth-price sales, and the company will take consumer bottle-opening rate as a core KPI for 2024.总经理林锋表示2024年春节期间所有产品实现顺价销售，公司将把消费者开瓶率作为2024年核心考核指标。
2024-04-27Luzhou Laojiao's 2023 annual report disclosed that the top five customers accounted for 62.28% of total sales (18.830 billion yuan), with the largest single customer accounting for 43.85% (13.258 billion yuan).泸州老窖2023年年报显示，前五名客户合计销售金额188.30亿元，占比62.28%；其中第一名客户销售金额132.58亿元，占比43.85%。
2024-08-30Luzhou Laojiao's total number of domestic and overseas dealers reached 1,861 as of end-H1 2024, a net increase of 47 during the period.截至2024年上半年末，泸州老窖境内外经销商合计1861家，报告期内净增加47家。
2024-09-02Luzhou Laojiao held an investor conference: Q2 actively adjusted operations to reduce channel inventory; by end-August channel inventory decreased by double digits YoY; confident to achieve full-year revenue growth target of no less than 15%.泸州老窖举行投资者交流会：Q2主动调整经营节奏以降低渠道库存；截至8月底渠道库存同比下降双位数以上；有信心完成全年营收增长不低于15%的目标。
2024-09-02Luzhou Laojiao held an investor conference: for Mid-Autumn Festival, the company expects no major change in baijiu sales and will increase market investment to gain share.泸州老窖举行投资者交流会：预计今年中秋白酒动销不会有太大变动，公司将加大市场投入以获取更多份额。
2024-11-04In investor relations activities, Luzhou Laojiao stated that mid-price product sales meet market demand, opening rate and bottle-opening rate continue to improve, and channel indicators such as cross-region sales and terminal profitability have improved; the company will continue to promote digital marketing system reform and expand terminals.在投资者关系活动中，泸州老窖表示中价位产品销售符合市场需求，开瓶数和开瓶率持续提升，窜货率、终端盈利等渠道指标均有改善；公司将继续推进数字化营销体系改革，拓展终端。
2025-03-02Luzhou Laojiao reported that in 2024, its core integrated terminals reached 80,000 (up 40% YoY), strategic retail terminals incubated nearly 6,000 (up 50%), effective certified outlets exceeded 1.1 million, and member assets surpassed 40 million.泸州老窖披露2024年核心融合终端达8万家（同比提升40%），战略零售终端孵化近6000家（提升50%），有效认证终端网点突破110万家，会员资产突破4000万。
2025-03-25Luzhou Laojiao stated that during the 2025 Spring Festival, the sales and bottle-opening volume of its main products achieved positive year-on-year growth, and inventory is controllable.泸州老窖表示2025年春节期间主要产品动销和开瓶量同比实现正增长，库存可控。
2025-06-27General manager Lin Feng stated target to expand terminal coverage to 4 million outlets in five years (from current 500,000), an eight-fold increase.总经理林锋表示未来五年终端覆盖目标达400万家（当前50万家），扩大八倍。
2025-08-04Luzhou Laojiao's Zhejiang region annual sales exceeded 2.5 billion yuan, ranking top three in Zhejiang baijiu market, as stated by provincial general manager Ma Longjun.泸州老窖浙江地区年销售额超25亿元，在浙江白酒市场中稳居前三，由浙江省区总经理马龙俊透露。
2026-03-12Luzhou Laojiao reported that during the Spring Festival peak season, overall sell-through met expectations; high-strength Guojiao 1573 maintained stable pricing, low-strength Guojiao saw strong demand, and products in the 100-300 yuan price range had fast opening and sell-through rates.泸州老窖表示春节旺季整体动销符合预期，高度国窖价盘稳固，低度国窖需求较好，100-300元价位段产品开瓶动销流速较快。
2026-03-22At the 2025-2026 distributor conference, Luzhou Laojiao announced that its 'Luzhou Laojiao' series brand revenue exceeded 10 billion yuan for the first time, and 38-degree Guojiao 1573 became the industry's first low-alcohol 10-billion-yuan single product.在2025-2026年度经销商会议上，泸州老窖宣布泸州老窖系列品牌营收首次突破百亿元，38度国窖1573成为行业首支低度百亿大单品。
2026-05-22At the 2025 annual performance briefing, Luzhou Laojiao stated that product sales and bottle-opening improved in 2026 compared to H2 2025, and channel inventory pressure is gradually easing.在2025年度业绩说明会上，泸州老窖表示2026年产品动销和开瓶情况较2025年下半年改善，渠道库存压力逐步缓解。
Financial results and dividends财务业绩与分红
70 · 2024-03-12 → 2026-06-01
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Annual and quarterly results, dividend plans, and payout ratios年度和季度业绩、分红方案和派息率
2024-03-12Chairman Liu Miao revealed that from 2015 to 2023, Luzhou Laojiao's revenue grew 369.3% with a CAGR of 21.3%, and net profit grew 966.6% with a CAGR of 34.4%, expecting 2023 indicators to hit new highs.董事长刘淼透露2015年至2023年泸州老窖营收累计增长369.3%，年复合增长率21.3%；净利润累计增长966.6%，年复合增长率34.4%，预计2023年指标再创新高。
2024-04-27Luzhou Laojiao reported 2023 annual results: revenue of 30.233 billion yuan (+20.34% YoY), net profit of 13.246 billion yuan (+27.79% YoY), and proposed a dividend of 54 yuan per 10 shares.泸州老窖发布2023年年报：营业收入302.33亿元（同比+20.34%），净利润132.46亿元（同比+27.79%），拟10派54元。
2024-04-27Luzhou Laojiao reported Q1 2024 results: revenue of 9.188 billion yuan (+20.74% YoY), net profit of 4.574 billion yuan (+23.20% YoY).泸州老窖发布2024年一季报：营业收入91.88亿元（同比+20.74%），净利润45.74亿元（同比+23.20%）。
2024-04-27Luzhou Laojiao's 2023 annual report showed gross margin for liquor products reached 88.41%, up 1.39 ppt YoY; mid-to-high-end liquor gross margin was 92.27%, up 1.22 ppt YoY.泸州老窖2023年年报显示，酒类产品毛利率88.41%（同比+1.39个百分点），中高档酒类毛利率92.27%（同比+1.22个百分点）。
2024-04-27Luzhou Laojiao's 2023 annual report showed operating cash flow of 10.648 billion yuan, up 28.87% YoY; net increase in cash and cash equivalents was 3.837 billion yuan, up 88.70% YoY.泸州老窖2023年年报显示，经营活动产生的现金流量净额106.48亿元（同比+28.87%），现金及现金等价物净增加额同比增加38.37亿元（增幅88.70%）。
2024-04-27Luzhou Laojiao's 2023 annual report showed inventory decreased by 0.79% year-on-year, indicating destocking.泸州老窖2023年年报显示，存货同比下降0.79%，表明去库存效果。
2024-05-09At the 2023 annual performance briefing, Luzhou Laojiao management stated that the company's cumulative cash dividends since listing total 35.353 billion yuan, with a total dividend payout ratio of 61.14%, and currently no special dividend plan.在2023年度业绩说明会上，泸州老窖管理层表示公司上市以来累计现金分红总额353.53亿元，总分红率达61.14%，目前暂无特别分红计划。
2024-05-09Luzhou Laojiao held its 2023 annual performance briefing, reporting 2023 revenue of 30.233 billion yuan (+20.34% YoY) and net profit of 13.246 billion yuan (+27.79% YoY); Q1 2024 revenue of 9.188 billion yuan (+20.74% YoY) and net profit of 4.574 billion yuan (+23.20% YoY).泸州老窖召开2023年度业绩说明会，2023年营收302.33亿元（同比+20.34%），净利润132.46亿元（同比+27.79%）；2024年一季度营收91.88亿元（同比+20.74%），净利润45.74亿元（同比+23.20%）。
2024-06-27Luzhou Laojiao held its 2023 annual general meeting, reporting 2023 revenue of 30.233 billion yuan (+20.34% YoY) and net profit of 13.246 billion yuan (+27.79% YoY), both exceeding targets.泸州老窖召开2023年度股东大会，报告2023年营收302.33亿元（同比+20.34%），净利润132.46亿元（同比+27.79%），均超额完成目标。
2024-07-31Luzhou Laojiao stated that its profit distribution plan will be implemented within two months after the shareholders' meeting that approves it.泸州老窖表示其利润分配方案将在审议通过的股东大会后2个月内实施。
2024-08-15Luzhou Laojiao announced its 2023 annual cash dividend plan: 5.4 yuan per 10 shares (including tax), totaling approximately 7.949 billion yuan, with record date August 22 and ex-dividend date August 23.泸州老窖公布2023年度分红方案：每10股派54元（含税），合计约79.49亿元，股权登记日8月22日，除权除息日8月23日。
2024-08-30Luzhou Laojiao reported 2024 H1 results: revenue 16.905 billion yuan (+15.84% YoY), net profit 8.028 billion yuan (+13.22% YoY), operating cash flow 8.225 billion yuan (+45.63% YoY).泸州老窖发布2024年半年报：营收169.05亿元（同比+15.84%），净利润80.28亿元（同比+13.22%），经营性现金流82.25亿元（同比+45.63%）。
2024-08-30In H1 2024, Luzhou Laojiao's mid-to-high-end liquor revenue reached 15.213 billion yuan (+17.12% YoY), accounting for 89.99% of total revenue; sales volume of mid-to-high-end liquor was 21,300 tons (+25.71% YoY), with inventory down 23.10%.2024年上半年，泸州老窖中高档酒类营收152.13亿元（同比+17.12%），占总营收89.99%；销量2.13万吨（同比+25.71%），库存量同比减少23.10%。
2024-08-30Luzhou Laojiao's contract liabilities (advances from customers) stood at 2.342 billion yuan as of end-H1 2024, up 21.1% year-on-year.截至2024年上半年末，泸州老窖合同负债（预收款项）为23.42亿元，同比增长21.1%。
2024-09-01Luzhou Laojiao released 2024 semi-annual report: revenue 16.905 billion yuan, +15.84% YoY; net profit 8.028 billion yuan, +13.22% YoY.泸州老窖发布2024年半年报：营收169.05亿元，同比增长15.84%；归母净利润80.28亿元，同比增长13.22%。
2024-09-12Luzhou Laojiao semi-annual report briefing: CFO Xie Hong said Q2 profit growth slowdown was due to increased market investment, higher taxes and surcharges, and a higher proportion of mid-range products.泸州老窖半年度业绩说明会：财务总监谢红回应二季度利润增速放缓主要系加大市场投入、税金及附加同比增加、中档产品占比提升等因素。
2024-10-08Chairman Liu Miao explained that the company uses low-cost long-term borrowings to increase cash management income, reduce financial expenses, and boost net profit; Q2 2024 revenue was 7.716 billion yuan (+10.51% YoY), net profit 3.454 billion yuan (+2.24% YoY).董事长刘淼解释公司利用低成本长期借款增加现金管理收益、降低财务费用、提升净利润；2024年第二季度营收77.16亿元（同比+10.51%），归母净利润34.54亿元（同比+2.24%）。
2024-10-30Q3 2024 report: first 9 months revenue 24.304 billion yuan (+10.76% YoY), net profit 11.593 billion yuan (+9.72% YoY); Q3 alone revenue 7.399 billion yuan (+0.67% YoY), net profit 3.566 billion yuan (+2.58% YoY).2024年三季报：前三季度营收243.04亿元（同比+10.76%），净利润115.93亿元（同比+9.72%）；第三季度营收73.99亿元（同比+0.67%），净利润35.66亿元（同比+2.58%）。
2024-10-30First 9 months operating cash flow reached 12.465 billion yuan, up 37.69% YoY, mainly due to increased cash receipts from sales and reduced cash payments for purchases.前三季度经营活动现金流量净额124.65亿元，同比增长37.69%，主要系销售商品收到现金增加及购买商品支付现金减少。
2024-11-01Luzhou Laojiao released Q3 2024 report: first three quarters revenue 24.304 billion yuan, +10.76% YoY; net profit 11.593 billion yuan, +9.72% YoY; operating cash flow 12.465 billion yuan, +37.69% YoY.泸州老窖发布2024年三季报：前三季度营收243.04亿元，同比增长10.76%；净利润115.93亿元，同比增长9.72%；经营活动现金流净额124.65亿元，同比增长37.69%。
2024-11-25Luzhou Laojiao stated on the investor interactive platform that it is conducting research on whether to launch an interim dividend plan.泸州老窖在投资者互动平台表示，正在开展关于是否推出中期分红计划的相关研究。
2024-11-26Luzhou Laojiao stated on the investor interactive platform that its average annual cash dividend rate since listing exceeds 60%, and it will actively study dividend policies as investor attention increases.泸州老窖在投资者互动平台表示，上市以来平均年现金分红率超过60%，将随着投资者对现金分红的重视度提高积极开展相关研究。
2024-12-24Luzhou Laojiao announced a 2024 interim profit distribution plan: a cash dividend of 13.58 yuan per 10 shares (tax included), totaling approximately 2 billion yuan, based on total shares of 1,471,951,503.泸州老窖公布2024年中期利润分配预案：以总股本1,471,951,503股为基数，每10股派发现金红利13.58元（含税），合计约20亿元。
2025-01-13Luzhou Laojiao's 2025 first extraordinary general meeting approved the 2024 interim profit distribution plan and the revision of company charter and related appendices.泸州老窖2025年第一次临时股东大会审议通过《2024年中期利润分配方案》和修订公司及附件的议案。
2025-01-16Luzhou Laojiao announced 2024 interim dividend plan: RMB 13.58 cash per 10 shares (tax included), total cash dividend approx. RMB 2 billion, record date Jan 23, ex-dividend date Jan 24, 2025.泸州老窖公告2024年中期利润分配方案：每10股派13.58元现金（含税），现金分红总额约20亿元，股权登记日2025年1月23日，除权除息日2025年1月24日。
2025-04-27Luzhou Laojiao released 2024 annual report: revenue CNY 31.196 billion (+3.19% YoY), net profit CNY 13.473 billion (+1.71% YoY); plans to distribute cash dividend of CNY 45.92 per 10 shares (total CNY 8.758 billion, 65% payout ratio).泸州老窖发布2024年年报：营业收入311.96亿元（同比+3.19%），净利润134.73亿元（同比+1.71%）；拟每10股派发现金红利45.92元（合计87.58亿元，分红比例65%）。
2025-04-27Luzhou Laojiao released 2025 Q1 report: revenue CNY 9.352 billion (+1.78% YoY), net profit CNY 4.593 billion (+0.41% YoY).泸州老窖发布2025年一季报：营业收入93.52亿元（同比+1.78%），净利润45.93亿元（同比+0.41%）。
2025-04-27Luzhou Laojiao released 2024 annual report: revenue 31.196 billion yuan, +3.19% YoY; net profit 13.473 billion yuan, +1.71% YoY; both hit record highs, marking the 10th consecutive year of double growth.泸州老窖发布2024年年报：营收311.96亿元，同比增长3.19%；净利润134.73亿元，同比增长1.71%；均创历史新高，连续十年双增长。
2025-04-27Luzhou Laojiao 2024 annual report: medium-to-high-end liquor revenue 27.585 billion yuan, +2.77% YoY; sales volume +14.39%; other liquor revenue 3.467 billion yuan, +7.15% YoY.泸州老窖2024年报：中高档酒营收275.85亿元，同比增长2.77%；销量增长14.39%；其他酒类营收34.67亿元，同比增长7.15%。
2025-04-27Luzhou Laojiao 2024 annual report: total liquor sales volume 103,800 tons, +7.77% YoY; design capacity 170,000 tons, actual base liquor production capacity 170,000 tons; base liquor inventory increased to nearly 430,000 tons.泸州老窖2024年报：白酒销量合计10.38万吨，同比增长7.77%；设计产能17万吨，实际基酒产能17万吨；基酒库存增至近43万吨。
2025-04-27Luzhou Laojiao 2024 annual report: gross margin of liquor business 87.6%; medium-to-high-end liquor gross margin 91.85%; overall liquor gross margin declined 0.79 pct; medium-to-high-end gross margin declined 0.42 pct.泸州老窖2024年报：酒类毛利率87.6%；中高档酒类毛利率91.85%；整体酒类毛利率下降0.79个百分点；中高档酒毛利率下降0.42个百分点。
2025-04-27Luzhou Laojiao 2024 annual report: inventory 13.392 billion yuan, +15.2% YoY, a record high; inventory turnover days 1,157.93 days (approx. 3.2 years).泸州老窖2024年报：存货133.92亿元，同比增长15.2%，创历史新高；存货周转天数1157.93天（约3.2年周转一次）。
2025-04-27Luzhou Laojiao 2024 annual report: net operating cash flow 19.182 billion yuan, +80.14% YoY; full-year dividend 8.758 billion yuan, payout ratio 65% of net profit.泸州老窖2024年报：经营性现金流净额191.82亿元，同比增长80.14%；全年分红87.58亿元，占净利润65%。
2025-04-27Luzhou Laojiao 2024 annual report: R&D expenditure 261 million yuan, +15.5% YoY; newly registered 3 software copyrights in May 2025 (weak current inspection, financial performance appraisal, digital center performance appraisal systems).泸州老窖2024年报：研发投入2.61亿元，同比增长15.5%；2025年5月新注册3项软件著作权（弱电巡检管理、财务绩效考评、数字化发展中心绩效考评系统）。
2025-04-27Luzhou Laojiao 2024 annual report: Guojiao 1573 brand stable in the 20-billion-yuan camp; Luzhou Laojiao brand exceeded 10 billion yuan in scale.泸州老窖2024年报：国窖1573品牌稳居200亿阵营；泸州老窖品牌体量突破100亿元。
2025-04-27Luzhou Laojiao 2024 annual report: Q4 2024 revenue 6.893 billion yuan, -16.84% YoY; net profit 1.88 billion yuan, -29.86% YoY; first Q4 double decline in 10 years.泸州老窖2024年报：2024年四季度营收68.93亿元，同比下降16.84%；净利润18.8亿元，同比下降29.86%；近10年首次Q4双降。
2025-04-27Luzhou Laojiao 2024 annual report: revenue growth of 3.19% missed the board's initial target of 'not less than 15%' for 2024.泸州老窖2024年报：营收增速3.19%，未完成董事会年初提出的“营业收入同比增长不低于15%”的目标。
2025-04-27Luzhou Laojiao 2024 annual report: medium-to-high-end finished goods inventory 33,000 tons at year-end, vs annual sales of 39,000 tons; finished goods inventory turnover slower than peers.泸州老窖2024年报：年末中高档成品酒库存3.3万吨，年销量3.9万吨；成品酒库存周转慢于同行。
2025-04-28Luzhou Laojiao 2024 annual report showed chairman Liu Miao's compensation was CNY 1.3691 million, down CNY 292,900 from 2023; general manager Lin Feng's compensation was CNY 1.352 million, down CNY 291,000.泸州老窖2024年报显示董事长刘淼薪酬136.91万元，比上年减少29.29万元；总经理林锋薪酬135.2万元，比上年减少29.1万元。
2025-04-30Luzhou Laojiao released 2025 Q1 report: revenue 9.352 billion yuan, +1.78% YoY; net profit 4.593 billion yuan, +0.41% YoY; growth rate hit a 10-year low for Q1 (excluding 2020).泸州老窖发布2025年一季报：营收93.52亿元，同比增长1.78%；净利润45.93亿元，同比增长0.41%；增速创近10年一季报新低（除2020年）。
2025-06-272024 annual general meeting approved 9 proposals including 2024 profit distribution: RMB 45.92 cash dividend per 10 shares, total RMB 6.759 billion; cumulative 2024 dividends RMB 8.758 billion (65% of net profit).2024年度股东大会审议通过9项议案，利润分配方案：每10股派45.92元，合计67.59亿元；2024年累计分红87.58亿元（占净利润65%）。
2025-06-27Chairman Liu Miao stated company will continue to increase dividend payout ratio over the next 5-10 years to enhance shareholder returns.董事长刘淼表示未来5-10年将持续提高分红率以回报股东。
2025-06-27Shareholders approved the '2024-2026 Shareholder Dividend Return Plan' and authorized the board to formulate interim dividend schemes.股东大会审议通过《2024-2026年度股东分红回报规划》，授权董事会制定中期分红方案。
2025-08-01Luzhou Laojiao announced 2024 dividend plan: 45.92 yuan per 10 shares (tax included), total cash dividend about 6.759 billion yuan, ex-dividend date August 8, 2025.泸州老窖公告2024年度分红派息方案：每10股派45.92元（含税），现金分红总额约67.59亿元，除权除息日为2025年8月8日。
2025-08-29Luzhou Laojiao reported 2025 H1 revenue of 16.454 billion yuan, down 2.67% YoY; net profit of 7.663 billion yuan, down 4.54% YoY; no interim dividend.泸州老窖2025年上半年营收164.54亿元，同比下降2.67%；净利润76.63亿元，同比下降4.54%；不派发中期红利。
2025-08-29Luzhou Laojiao released 2025H1 results: revenue 16.454B yuan (-2.67% YoY), net profit 7.663B yuan (-4.54% YoY); Q2 revenue 7.102B yuan (-7.97% YoY), net profit 3.07B yuan (-11.1% YoY); first revenue and profit decline in a decade.泸州老窖发布2025年上半年业绩：营收164.54亿元（同比-2.67%），净利润76.63亿元（同比-4.54%）；Q2营收71.02亿元（同比-7.97%），净利润30.70亿元（同比-11.1%）；十年来首次营收和净利润双降。
2025-09-01Luzhou Laojiao's medium-to-high-end liquor sales volume +13% YoY but unit price -12.7%; other liquor volume -6.9% and unit price -10.8%; overall volume up price down strategy.泸州老窖中高档酒销量同比+13%但吨价同比-12.7%；其他酒类销量同比-6.9%且吨价同比-10.8%；整体量增价跌。
2025-09-01Shenwan Hongyuan Securities cut Luzhou Laojiao's 2025 net profit forecast to 11.79B yuan, implying an 11.13% YoY decline from 2024's 13.47B yuan.申万宏源证券下调泸州老窖2025年归母净利润预测至117.9亿元，意味着同比2024年134.7亿元下降11.13%。
2025-09-04Luzhou Laojiao's contract liabilities (advances from customers) increased over 50% from end-2024 to H1 2025, indicating strong distributor prepayments.泸州老窖合同负债（预收款项）较2024年末增长超50%，显示经销商预付款强劲。
2025-09-04Luzhou Laojiao's H1 2025 operating cash flow was 6.064B yuan, below net profit of 7.663B yuan, a decline of over 2B yuan from prior year.泸州老窖2025年上半年经营现金流净额60.64亿元，低于净利润76.63亿元，同比减少超20亿元。
2025-10-30Luzhou Laojiao reported Q3 2025 results: Q3 revenue 6.674 billion yuan (-9.80% YoY), net profit 3.099 billion yuan (-13.07% YoY); 9M revenue 23.127 billion yuan (-4.84% YoY), net profit 10.762 billion yuan (-7.17% YoY).泸州老窖发布2025年第三季度报告：第三季度营收66.74亿元（同比-9.80%），净利润30.99亿元（同比-13.07%）；前三季度营收231.27亿元（同比-4.84%），净利润107.62亿元（同比-7.17%）。
2025-11-01Released 2025 Q3 report: first three quarters revenue 23.127 billion yuan, net profit 10.762 billion yuan; Q3 single-quarter revenue 6.674 billion yuan, net profit 3.099 billion yuan.发布2025年三季报：前三季度营收231.27亿元，归母净利润107.62亿元；第三季度单季营收66.74亿元，归母净利润30.99亿元。
2025-11-05Q3 report shows mid-to-high-end liquor sales (mainly Guojiao 1573) fell 10.2% YoY to 24,119.09 tons; revenue from that segment fell 1.1% to ~21.12 billion yuan; low-end liquor sales rose 17.3% to 24,798.63 tons, revenue up 16.8% to ~1.89 billion yuan.三季报显示，以国窖1573为代表的中高档酒销量同比下滑10.2%至24119.09吨，销售收入同比下滑1.1%至约211.2亿元；低档酒销量同比增长17.3%至24798.63吨，销售收入同比增长16.8%至约18.9亿元。
2025-11-07Disclosed 2024-2026 shareholder dividend return plan: annual cash dividend payout ratio not less than 65%/70%/75% of net profit respectively, each year not less than 8.5 billion yuan (tax inclusive);原则上每年可进行两次现金分红.披露2024-2026年度股东分红回报规划：每年度现金分红总额占净利润比例分别不低于65%、70%、75%，且均不低于85亿元（含税）；原则上每年可进行两次现金分红。
2026-01-07Chairman Liu Miao stated at the employee congress that the company faces difficulties and challenges; 2025 first three quarters revenue was 23.127 billion yuan, down 4.84% YoY; net profit was 10.762 billion yuan, down 7.17% YoY; Q3 single-quarter revenue was 6.674 billion yuan, down 9.80% YoY; net profit was 3.099 billion yuan, down 13.07% YoY.董事长刘淼在职工代表大会上表示公司面临困难挑战；2025年前三季度营收231.27亿元，同比下降4.84%；净利润107.62亿元，同比下降7.17%；第三季度单季营收66.74亿元，同比下降9.80%；净利润30.99亿元，同比下降13.07%。
2026-01-09Board approved 2025 interim profit distribution plan: cash dividend of 13.58 yuan per 10 shares (tax incl.), total about 2 billion yuan (tax incl.), based on total share capital of 1.4719 billion shares.董事会审议通过2025年中期利润分配方案：每10股派发现金红利13.58元（含税），合计约20亿元（含税），以总股本14.72亿股为基数。
2026-01-09Disclosed 2024-2026 shareholder return plan: annual cash dividend payout ratio not less than 65%, 70%, 75% respectively, each year not less than 8.5 billion yuan (tax incl.);原则上每年可进行两次现金分红。披露2024-2026年度股东分红回报规划：每年现金分红比例分别不低于65%、70%、75%，且每年不低于85亿元（含税）；原则上每年可进行两次现金分红。
2026-01-23Announced 2025 interim dividend implementation: record date January 29, 2026; ex-dividend date January 30, 2026; cash dividend 13.58 yuan per 10 shares, total 1.9989 billion yuan.发布2025年中期分红派息实施公告：股权登记日2026年1月29日，除权除息日2026年1月30日；每10股派13.58元，总额19.989亿元。
2026-04-28Luzhou Laojiao reported 2025 annual results: revenue 25.731 billion yuan, down 17.52% YoY; net profit 10.831 billion yuan, down 19.61% YoY. Proposed a final dividend of 4.417 yuan per 10 shares (total ~6.502 billion yuan).泸州老窖发布2025年年报：营收257.31亿元，同比下降17.52%；净利润108.31亿元，同比下降19.61%。拟每10股派发现金红利44.17元（合计约65.02亿元）。
2026-04-28Luzhou Laojiao reported 2026 Q1 results: revenue 8.025 billion yuan, down 14.19% YoY; net profit 3.708 billion yuan, down 19.25% YoY.泸州老窖发布2026年一季报：营收80.25亿元，同比下降14.19%；净利润37.08亿元，同比下降19.25%。
2026-04-29Luzhou Laojiao disclosed that its 2025 mid-grade and above liquor revenue was 22.968 billion yuan, down 16.74% YoY; other liquor revenue was 2.638 billion yuan, down 23.93% YoY. Mid-grade and above liquor sales volume was 37,304.7 tons, down 13.23%.泸州老窖披露2025年中高档酒类营收229.68亿元，同比下降16.74%；其他酒类营收26.38亿元，同比下降23.93%。中高档酒类销量37304.7吨，同比下降13.23%。
2026-04-29Luzhou Laojiao announced that its cumulative total dividends since listing reached 60.56 billion yuan, and after the 2025 dividend plan, the cumulative dividend payout ratio will reach 63.50%.泸州老窖公告，上市以来累计分红已达605.60亿元，2025年度分红实施后累计分红率将达63.50%。
2026-04-29Luzhou Laojiao disclosed that 38-degree Guojiao 1573 became the industry's first 10-billion-yuan low-alcohol baijiu mega-product.泸州老窖披露38度国窖1573成为行业首个百亿级低度白酒大单品。
2026-04-29Luzhou Laojiao's 2025 annual report showed that the company's operating cash flow was 7.123 billion yuan, down 62.86% YoY.泸州老窖2025年年报显示，经营活动产生的现金流量净额为71.23亿元，同比大幅下降62.86%。
2026-05-01Luzhou Laojiao released its 2025 annual report: revenue of 25.731 billion yuan, down 17.52% YoY; net profit of 10.831 billion yuan, down 19.61% YoY; first double decline in nearly a decade.泸州老窖发布2025年年报：营收257.31亿元，同比下降17.52%；净利润108.31亿元，同比下降19.61%；近十年来首次双降。
2026-05-07Luzhou Laojiao reported Q1 2026 results: revenue of 8.025 billion yuan, down 14.19% YoY; net profit of 3.708 billion yuan, down 19.25% YoY.泸州老窖发布2026年一季报：营收80.25亿元，同比下降14.19%；净利润37.08亿元，同比下降19.25%。
2026-05-08Chairman Liu Miao's salary declined for two consecutive years: 1.184 million yuan in 2025, down from 1.369 million yuan in 2024.董事长刘淼薪酬连续两年下调：2025年118.4万元，低于2024年的136.9万元。
2026-05-12Luzhou Laojiao reiterated its 2024-2026 shareholder dividend return plan: annual cash dividend ratio not less than 65%/70%/75% of net profit, and not less than 8.5 billion yuan each year.泸州老窖重申2024-2026年度股东分红回报规划：每年度现金分红比例不低于净利润的65%/70%/75%，且均不低于85亿元。
2026-05-12Luzhou Laojiao stated that its 2023-2025 annual reports received standard unqualified audit opinions, and there are no prior-period accounting error corrections.泸州老窖表示2023年至2025年年度报告均经审计机构出具标准无保留意见，不存在前期会计差错更正情形。
2026-06-01Luzhou Laojiao released 2025 annual report: total revenue 25.731 billion yuan, down 17.52% YoY; net profit attributable to parent 10.831 billion yuan, down 19.61% YoY; R&D team expanded to 480 people.泸州老窖发布2025年年报：全年营业总收入257.31亿元，同比下降17.52%；归母净利润108.31亿元，同比下降19.61%；研发团队扩大至480人。
Other developments其他动态
15 · 2024-03-13 → 2026-06-18
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Assorted one-off developments.零散的一次性动态。
2024-03-13Luzhou Laojiao reported that its five-code digital product system achieved a consumer scan rate of over 25% in 2023, with daily bottle-opening scans exceeding 100,000 bottles.泸州老窖报告2023年五码产品消费端扫码率超25%，日均开瓶扫码量超10万瓶。
2024-04-08Luzhou Laojiao stated it has not yet deployed an industrial internet platform.泸州老窖表示公司暂未应用工业互联网平台。
2024-04-27Luzhou Laojiao's 2023 annual report showed sales expenses of 3.974 billion yuan (+15.24% YoY), with promotion expenses surging 107.62% to 1.489 billion yuan, while advertising expenses fell 14.15% to 1.614 billion yuan.泸州老窖2023年年报显示，销售费用39.74亿元（同比+15.24%），其中促销费14.89亿元（同比+107.62%），广告宣传费16.14亿元（同比-14.15%）。
2024-06-07Luzhou Laojiao clarified that its trading financial assets at end-2023 (14.26 billion yuan book value) were all fixed-income wealth management products (low-risk bonds, money market instruments), with no index-linked products; the 2022 fair value loss of 12.02 million yuan was due to market fluctuations and did not reflect final returns.泸州老窖澄清2023年末交易性金融资产（账面价值14.26亿元）均为固定收益类理财产品，无指数挂钩类产品；2022年公允价值变动损失1202万元系市价波动，不代表最终收益。
2024-09-23Luzhou Laojiao's 2021 restricted stock incentive plan (reserved portion) first release period conditions were met; 45 incentive recipients can release 134,534 shares, listing on October 9, 2024.泸州老窖2021年限制性股票激励计划预留部分第一个解除限售期条件成就，45名激励对象可解除限售134,534股，上市流通日期为2024年10月9日。
2024-10-0213,450 shares of restricted stock (equity incentive) to be unlocked on Oct 9, representing 0.01% of market cap, worth 20.14 million yuan.10月9日将解禁13.45万股股权激励限售股，占解禁前流通市值0.01%，市值2013.97万元。
2024-11-14Haikou Xiuying District Party Committee Secretary Fu Yong led a delegation to visit Luzhou Laojiao; both sides discussed potential cooperation in import/export trade, cross-border investment, and baijiu cultural promotion.海口市秀英区委书记符勇带队调研泸州老窖，双方探讨在进出口贸易、跨境投资、白酒文化推广等领域的合作可能性。
2025-02-07Luzhou Laojiao receives a visit from the municipal party secretary, who praises the company's performance and contributions to the local economy.泸州老窖接待市委书记调研，后者肯定公司经营业绩和对地方经济的贡献。
2025-12-28Luzhou Laojiao held a 2026 wage collective negotiation meeting at its command center; market speculation about a company-wide salary cut in 2026 emerged, but the company did not respond to inquiries.泸州老窖在指挥中心召开2026年工资集体协商会；市场出现2026年全员降薪的猜测，公司未回应相关问询。
2026-01-28Announced on investor platform: the company is working with high-quality strategic partners to optimize product display and marketing management in chain new retail formats to improve brand perception and consumer experience.在投资者平台宣布：公司携手优质战略合作伙伴持续优化连锁新零售业态产品形象展示和营销活动管理，提升品牌感知和消费体验。
2026-03-09Luzhou Laojiao held a 2026 wage collective consultation meeting to discuss salary and benefits; in 2024, Chairman Liu Miao's salary fell to 1.369 million yuan and General Manager Lin Feng's to 1.352 million yuan, both down over 290,000 yuan year-on-year; total employee compensation in 2024 was 1.343 billion yuan, with per capita salary of about 353,400 yuan.泸州老窖召开2026年工资集体协商会；2024年董事长刘淼薪酬降至136.9万元，总经理林峰降至135.2万元，均同比减少超29万元；2024年员工薪酬总额13.43亿元，人均薪酬约35.34万元。
2026-03-12Luzhou Laojiao stated that its 2025 annual report is expected to be released on April 29, 2026.泸州老窖表示2025年年报预计于2026年4月29日披露。
2026-04-29Luzhou Laojiao's 2025 annual report disclosed that the company had 3,912 employees, up 2.09% YoY; average per capita compensation was 321,900 yuan, down 8.37% YoY; per capita revenue was 6.5775 million yuan, down 19.21%.泸州老窖2025年年报披露，员工总数3912人，同比增2.09%；人均薪酬32.19万元，同比减8.37%；人均创收657.75万元，同比减19.21%。
2026-06-18Luzhou Laojiao Chairman Liu Miao led a delegation to visit Yanghe (Yanghe股份) for a strategic exchange, calling for industry collaboration amid the deep transformation of the baijiu sector.泸州老窖董事长刘淼率队到访洋河股份座谈，呼吁在白酒行业深度转型期头部酒企抱团共进、引领行业健康发展。
2026-06-18Luzhou Laojiao stated on investor platform that it has systematically laid out health liquor (养生酒) and Chinese-style fruit wine as key cultivation directions, but did not confirm joint development with pharmaceutical firms.泸州老窖在投资者平台表示已在养生酒领域进行系统布局，将养生酒、中式果酿酒作为持续培育重点方向，但未确认与药企联合开发。
Bond and debt actions债券与债务行动
4 · 2024-03-14 → 2026-04-15
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Bond interest payment, bondholder meetings, and medium-term note issuance债券付息、债券持有人会议和中期票据发行
2024-03-14Luzhou Laojiao announced an interest payment for its bond '20 Laojiao 01' on March 18, 2024, with a coupon rate of 3.50%, paying 35.00 yuan per 1,000 yuan face value (before tax).泸州老窖公告将于2024年3月18日支付‘20老窖01’债券利息，票面利率3.50%，每手面值1000元派发利息35.00元（含税）。
2024-06-11Luzhou Laojiao will hold a bondholder meeting on June 28, 2024, for its '20 Laojiao 01' bond (149062.SZ) to consider repurchasing and canceling部分 restricted shares and amending bondholder meeting rules.泸州老窖将于2024年6月28日召开'20老窖01'债券持有人会议，审议回购注销部分限制性股票及修订债券持有人会议规则等议案。
2024-07-01Luzhou Laojiao's 2020 corporate bond (first tranche) bondholders' meeting failed due to insufficient attendance; no valid resolutions were formed on share cancellation and rule amendments.泸州老窖2020年公司债券（第一期）债券持有人会议因出席人数不足未能成功召开，未形成关于股份注销和规则修订的有效决议。
2026-04-15Luzhou Laojiao Group issued the 2026 first tranche of medium-term notes with a total actual issuance of 2 billion yuan, an interest rate of 1.85%, a 5-year term, and proceeds to be fully used to repay 2.12 billion yuan of interest-bearing debt.泸州老窖集团发行2026年度第一期中期票据，实际发行总额20亿元，发行利率1.85%，期限5年，募集资金拟全部用于偿还21.20亿元有息债务。
Low-alcohol product strategy低度酒战略
7 · 2024-03-20 → 2026-05-08
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38-degree Guojiao 1573 as 10-billion-yuan product, 28-degree R&D, and youth focus38度国窖1573成为百亿单品、28度研发和年轻化
2024-03-20Luzhou Laojiao stated in an investor relations activity that low-alcohol baijiu will be a future trend, and its low-alcohol products will be a key development segment, with targeted regional deployment and market cultivation.泸州老窖在投资者关系活动中表示低度化将是中国白酒未来发展趋势，低度产品将作为重要突破板块，进行区域针对性投放和市场培育。
2024-11-05Luzhou Laojiao stated that with changes in mainstream consumer habits, low-alcohol products may become a long-term trend; low-alcohol products are well received in North China and around Taihu Lake, and the company will continue to promote low-alcohol sales.泸州老窖表示，随着主流消费习惯变化，饮酒低度化可能成为长期趋势；低度产品在华北、环太湖等区域发展良好，公司将继续推动低度酒销售。
2025-03-25Luzhou Laojiao announced it will increase investment in the low-alcohol baijiu segment, as it sees medium- and low-alcohol products as a future trend.泸州老窖表示将在低度酒领域加大投入，认为中低度酒将成为未来趋势。
2025-09-04Luzhou Laojiao's 38-degree Guojiao 1573 became the industry's first baijiu single product exceeding 10 billion yuan in low-alcohol category.泸州老窖38度国窖1573成为行业首个百亿级低度白酒大单品。
2026-03-29Luzhou Laojiao stated that low-alcohol liquor remains a key strategic direction, as younger consumers increasingly prefer low-alcohol baijiu, and low-alcoholization is a trend in China's baijiu industry.泸州老窖表示低度酒仍是重点战略方向，年轻消费者偏好低度白酒，低度化是中国白酒发展趋势之一。
2026-05-06Luzhou Laojiao held an analyst meeting on April 30, stating it will systematically promote low-alcohol products nationwide in 2026 to seize market opportunities.泸州老窖于4月30日召开分析师会议，表示2026年将进一步推动低度产品全国化，抢占低度白酒市场先机。
2026-05-08Luzhou Laojiao's 38-degree Guojiao 1573 became the first 10-billion-yuan low-alcohol baijiu single product, with a CAGR of over 30% from 2015 to 2025.泸州老窖38度国窖1573成为行业首个百亿级低度白酒大单品，2015-2025年年复合增长率超30%。
Market rectification and channel cleanup市场整顿与渠道清理
4 · 2024-03-21 → 2025-04-27
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Order suspensions, price cleanup, and nationwide product line halt暂停接单、价格清理和全国性产品线停货
2024-03-21Chengdu Huiwei Jingdian Commerce Co., Ltd., a Luzhou Laojiao distribution platform, announced it would stop accepting orders for Luzhou Laojiao Tequ 80 edition from April 1, 2024, for market rectification.泸州老窖经销平台成都回味经典商贸有限公司宣布自2024年4月1日起暂停接收泸州老窖特曲80版订单，进行市场整治。
2025-02-20Luzhou Laojiao's subsidiary Luzhou Dacheng Nongxiang Liquor Sales Co. suspends orders and shipments of 500ml 'Lao Tou Qu' product, effective immediately.泸州老窖子公司泸州大成浓香酒类销售有限公司暂停接收老头曲500ML装产品订单与发货。
2025-04-24Market news said Luzhou Laojiao stopped accepting orders and shipments nationwide for all product lines (Guojiao, Tequ, Huaijiu, Jiaoling, Dacheng Nongxiang) until Dragon Boat Festival to clean up pricing, channels, and policies; company responded it is a routine operation.市场消息称泸州老窖全国全品系（国窖、特曲、怀旧、窖龄、大成浓香）停止订单接收和发货至端午节，全面清理价格、渠道和政策；公司回应称属常规操作。
2025-04-27Luzhou Laojiao announced a nationwide full-product-line suspension of order taking and shipment in late April, later clarified as temporary price and channel cleanup before Dragon Boat Festival; normal supply resumed by mid-May.泸州老窖4月底宣布全国全品系停止接收订单和发货，后澄清为端午前临时价格和渠道清理；5月中旬已恢复正常供货。
Industry alliances and standards行业联盟与标准
5 · 2024-03-23 → 2026-04-18
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Sichuan liquor declaration, bottle-aged baijiu standard, and health liquor summit川酒宣言、瓶储年份酒标准和养生酒峰会
2024-03-23Luzhou Laojiao hosted a bottled aged baijiu evaluation meeting, where the China Alcoholic Drinks Association released the 'Luzhou Laojiao Bottled Aged Baijiu Collection Value Index'.泸州老窖举办瓶储年份酒鉴评会，中国酒业协会发布‘泸州老窖瓶储年份酒收藏价值指数’。
2024-06-18Luzhou Laojiao, together with Wuliangye, Jiannanchun, Langjiu, Shede, and Shuijingfang, jointly released the 'Sichuan Liquor Development and Revitalization Declaration' at the 2024 Sichuan International Fine Wine Expo, pledging quality, brand, tech innovation, cooperation, and international expansion.泸州老窖与五粮液、剑南春、郎酒、舍得、水井坊在2024四川国际美酒博览会上共同发布《川酒发展振兴宣言》，承诺品质、品牌、科技创新、合作共赢及国际市场培育。
2025-06-21Hosted the 'China Famous Liquor · Bottle-Aged True Treasure' appreciation event in Tianjin, co-released the 'Bottle-Aged Liquor Group Standard' with China Alcoholic Drinks Association.在天津举办“中国名酒·瓶储真藏”鉴赏会，与中国酒业协会联合发布《瓶储年份酒团体标准》。
2025-06-24Hosted the 'Standards Set Direction, Seek the Future of Lu Wine' industry summit, positioning health liquor as a 'green growth pole'.承办“以标立向 寻露未来”行业峰会，将养生酒定位为“绿色增长极”。
2026-04-18Luzhou Laojiao held the Bottle-Aged Vintage Baijiu Value Appreciation Conference in Chengdu, co-hosted by the China Alcoholic Drinks Association, promoting the standardized development of bottle-aged vintage baijiu.泸州老窖在成都举办“瓶储真藏 举杯同享”瓶储年份酒价值鉴赏会，由中国酒业协会指导，推动瓶储年份酒行业规范化发展。
Product & brand updates产品与品牌更新
10 · 2024-04-07 → 2026-03-22
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Luzhou Laojiao confirmed its beer business, denied sauce-flavor products, raised wholesale prices, and disclosed major single products and digital achievements.泸州老窖确认啤酒业务，否认酱香产品，提高批发价格，并披露主要单品和数字化成果。
2024-04-07Luzhou Laojiao raised the ex-plan wholesale price of its Laotouqu 500ml product by 14 yuan per bottle, effective April 7, 2024.泸州老窖自2024年4月7日起，将老头曲500ml经销商计划外制单价上调14元/瓶。
2024-04-27Luzhou Laojiao's 2023 annual report showed mid-to-high-end liquor revenue (price ≥150 yuan/bottle, including Guojiao 1573, Tequ, Jiaoling) reached 26.841 billion yuan, up 21.28% YoY; other liquor revenue was 3.236 billion yuan, up 22.87% YoY.泸州老窖2023年年报显示，中高档酒类（含税销售价格≥150元/瓶，包括国窖1573、特曲、窖龄酒）收入268.41亿元，同比+21.28%；其他酒类收入32.36亿元，同比+22.87%。
2024-07-16Luzhou Laojiao confirmed it has a beer business under its innovation segment, with products including Baidiao Craft Beer 980 and Baidiao Craft Beer Black Gold Edition.泸州老窖确认其创新业务板块有啤酒业务，产品包括百调精酿啤酒980和百调精酿啤酒黑金版。
2024-11-25Luzhou Laojiao stated on the investor interactive platform that its major single products include Guojiao 1573, Luzhou Laojiao Tequ, Jiao Ling Jiu, and Tou Qu.泸州老窖在投资者互动平台表示，公司现有大单品包括国窖1573、泸州老窖特曲、窖龄酒、头曲。
2025-03-02At the 2024-2025 annual dealer conference, Luzhou Laojiao announced that its Guojiao 1573 brand firmly ranks in the 200 billion yuan camp, and the Luzhou Laojiao brand sales volume exceeded 100 billion yuan. The company expects all main indicators for 2024 to hit record highs.在2024-2025年度经销商大会上，泸州老窖宣布国窖1573品牌稳居200亿阵营，泸州老窖品牌体量突破100亿元，预计2024年全年各项主要指标将再创历史新高。
2025-05-20Luzhou Laojiao stated in an investor Q&A that it has no sauce-flavor (jiangxiang) liquor products under its brand.泸州老窖在投资者问答中表示，公司旗下没有酱酒产品。
2025-07-02Controlling shareholder Luzhou Laojiao Group's share buyback is progressing; 38% abv Guojiao 1573 is well-received; R&D of even lower-alcohol products is underway.控股股东老窖集团增持工作推进中；38度国窖1573市场反响良好；更低度产品正在研发中。
2025-07-17Luzhou Laojiao stated it has no sauce-flavor (jiangxiang) baijiu products.泸州老窖表示公司没有酱酒产品。
2025-07-28Luzhou Laojiao stated that health liquor (yangsheng jiu) and beer account for a very small proportion of total sales revenue.泸州老窖表示养生酒和啤酒占销售收入比重较小。
2026-03-22At the 2025-2026 distributor conference, Luzhou Laojiao disclosed '14th Five-Year' digital achievements: cumulative five-code product shipments exceeded 50 million cases, core single-product opening reached 110 million bottles, and membership scale exceeded 50 million.在2025-2026年度经销商会议上，泸州老窖披露“十四五”数智化成绩：五码产品累计投放量突破5000万箱，核心单品开瓶突破1.1亿瓶，会员规模突破5000万。
Research institutes & subsidiaries研究院与子公司
4 · 2024-04-18 → 2026-03-22
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Luzhou Laojiao dissolved its e-commerce subsidiary, renamed a cultural tourism subsidiary, and registered new software copyrights and art copyrights.泸州老窖解散电商子公司，更名文旅子公司，并注册新的软件著作权和美术作品著作权。
2024-04-18Luzhou Laojiao's wholly-owned subsidiary, Yuanquan Cultural Tourism Co., Ltd., was renamed to Luzhou Laojiao Innovation Industry Holding Co., Ltd., with registered capital of 90 million yuan.泸州老窖全资子公司源泉文化旅游有限公司更名为泸州老窖创新产业控股有限公司，注册资本9000万元。
2025-04-27Luzhou Laojiao registered 2 new software copyrights: 'Grab Below Personnel Intelligent Recognition System V1.0' and 'Crane Hoist Swing Detection Analysis Software V1.0'.泸州老窖新注册了2个软件著作权：《抓斗下方站人智能识别系统V1.0》和《行车吊物晃动检测分析软件V1.0》。
2025-06-04Board approved to dissolve subsidiary Luzhou Laojiao E-commerce Co., Ltd., with functions transferred to Luzhou Laojiao New Retail Co., Ltd.董事会批准注销子公司泸州老窖电子商务股份有限公司，其职能由泸州老窖新零售有限公司承接。
2026-03-22Luzhou Laojiao registered two new art copyrights: 'Lvdou Daqu Baoshi Bean Bottle - No Reflection' and 'Lvdou Daqu Bottle'.泸州老窖新注册2个美术作品著作权，包括《绿豆大曲宝石豆酒瓶-无倒影》、《绿豆大曲瓶子》。
Investor relations and analyst meetings投资者关系与分析师会议
6 · 2024-04-30 → 2026-05-14
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Performance briefings, analyst downgrade, and institutional surveys业绩说明会、分析师降级和机构调研
2024-04-30Luzhou Laojiao announced it will hold its 2023 annual online performance briefing on May 9, 2024, via the Interactive Easy platform.泸州老窖公告将于2024年5月9日通过互动易平台召开2023年度网上业绩说明会。
2024-07-30Luzhou Laojiao responded to UBS Securities' downgrade from 'buy' to 'neutral', stating it could not comment on the rating change.泸州老窖回应瑞银证券将其评级从买入下调至中性，表示无法对评级下调做出评价。
2024-09-12Luzhou Laojiao held semi-annual report performance briefing: Chairman Liu Miao stated the company has obtained trademark rights for 'Guojiao' and 'Guojiao 1573'; promoting digital transformation; product sales are healthy; distributor inventory has significantly decreased.泸州老窖举行半年度报告业绩说明会：董事长刘淼表示公司已取得“国窖”“国窖1573”等商标权；全力推动数字化转型；产品动销情况良性；经销商库存明显下降。
2025-05-16Luzhou Laojiao held its 2024 annual online performance briefing on the 'Interactive Easy' platform of Shenzhen Stock Exchange.泸州老窖在深交所“互动易”平台召开2024年度网上业绩说明会。
2025-09-04Luzhou Laojiao held an analyst meeting on Sep 1, 2025 (169 participants), stating it will deepen digital marketing, promote 38-degree products, introduce 28-degree Guojiao 1573, and expand into county-level markets.泸州老窖于9月1日举行分析师会议（169人参与），表示将深化数智营销，推进38度产品，导入28度国窖1573，并拓展县级以下市场。
2026-05-14Luzhou Laojiao announced it will hold its 2025 annual online performance briefing on May 22, 2026, from 15:00-17:00, with Chairman Liu Miao and other executives attending.泸州老窖公告将于2026年5月22日15:00-17:00召开2025年度网上业绩说明会，董事长刘淼等管理层出席。
Market & investor relations市场与投资者关系
10 · 2024-05-09 → 2026-05-15
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Luzhou Laojiao stated no performance forecast, no Hong Kong listing, no share buyback, and provided updates on market expansion and investor Q&A.泸州老窖表示无业绩预告、无港股上市、无股份回购，并更新市场拓展和投资者问答。
2024-05-09At the 2023 annual performance briefing, Luzhou Laojiao management stated that the revenue growth rate of mid-to-high-end liquor is greater than the sales volume growth rate, mainly due to the rapid growth of Guojiao 1573; the company adjusted its supply rhythm for some mid-range products.在2023年度业绩说明会上，泸州老窖管理层表示中高档酒收入增速大于销量增速，主要因国窖1573增长较快；部分中档产品调整了供给节奏。
2024-05-09At the 2023 annual performance briefing, Chairman Liu Miao stated that the company will continue to implement the 'Hundred Cities Plan', deepen base markets in North China and Southwest China, and expand strategic markets in East China, Central South China, and South China.在2023年度业绩说明会上，董事长刘淼表示公司将持续开展百城计划，深挖华北、西南基地市场，拓展华东、中南、华南战略市场。
2024-06-12Luzhou Laojiao stated it currently has no interim dividend plan.泸州老窖表示目前暂无中期分红计划。
2024-09-24Luzhou Laojiao responded to investors: the company will seriously study the topic of stock buyback plans, similar to Kweichow Moutai.泸州老窖回应投资者：公司将认真研究股票回购方案相关课题。
2024-10-15Company stated that since launching the 'East China Campaign' (华东会战), the East China market has grown rapidly and is now the third-largest regional market; it aims to achieve market share commensurate with brand status through digital marketing.公司表示自实施华东会战以来，华东市场快速发展，已成为第三大区域市场；目标是通过数字化营销获得与品牌地位相符的市场份额。
2024-11-26Luzhou Laojiao stated on the investor interactive platform that Hong Kong's reduction of the liquor tax will promote product sales.泸州老窖在投资者互动平台表示，香港降低烈酒税对产品销售有促进作用。
2025-01-22Luzhou Laojiao stated it has no plan to issue a performance forecast for now.泸州老窖表示暂无发布业绩预告的计划。
2025-05-20Luzhou Laojiao stated in an investor Q&A that it has no plans for a Hong Kong listing.泸州老窖在投资者问答中表示，公司暂无赴港上市的计划。
2026-01-08Announced on investor platform: South Korea is the largest overseas liquor consumer market; the company is orderly advancing important market layout work there.在投资者平台宣布：韩国是海外最大酒类消费市场之一，公司正有序推进在韩重要市场布局工作。
2026-05-15Luzhou Laojiao stated it currently has no share buyback or increase plan, but will manage market value through investor relations, information disclosure, and cash dividends.泸州老窖表示目前暂无回购或增持方案，将通过投资者关系管理、信息披露、现金分红等方式开展市值管理。
Minority investments & stakes少数股权投资与持股
6 · 2024-05-22 → 2026-01-28
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Luzhou Laojiao clarified it did not invest in the Maoxi sauce-flavor project, denied M&A with Tanjiu and Xiantan, and noted its parent group controls Hu Guo Wei Ye and other investments.泸州老窖澄清未投资茅溪酱酒项目，否认与潭酒、仙潭的并购，并指出其控股股东控制胡国伟业及其他投资。
2024-05-22Luzhou Laojiao stated that it did not participate in the investment in the Maoxi Town sauce-flavor liquor project.泸州老窖表示未参与投资茅溪镇酱酒项目。
2024-06-11Luzhou Laojiao's wholly-owned subsidiary Sichuan JinDuo Investment's portfolio company Yisou Technology (2550.HK) listed on the Hong Kong Stock Exchange; JinDuo is 100% owned by Luzhou Laojiao Group.泸州老窖全资子公司四川金舵投资参股的宜搜科技（2550.HK）在香港联交所上市；金舵投资由泸州老窖集团100%持股。
2025-03-31Luzhou Laojiao confirmed that 'Hu Guo Wei Ye' (a soy sauce brand) is a company controlled by its parent group, Luzhou Laojiao Group.泸州老窖确认“护国味业”是其控股股东老窖集团控股的公司。
2025-04-28Luzhou Laojiao denied any ongoing M&A cooperation with Gulin Jiangxiang Baijiu 'Tanjiu'.泸州老窖否认与古蔺酱香酒“潭酒”开展并购合作。
2025-05-06Luzhou Laojiao stated in an investor Q&A that it currently has no intention to acquire Sichuan Xiantan Liquor Industry Group Co., Ltd.泸州老窖在投资者问答中表示，暂未有收购四川仙潭酒业集团有限责任公司的意向。
2026-01-28Announced on investor platform: Sichuan Jindou Investment Co., Ltd. and Sichuan Puxin Industry Investment Co., Ltd. are subsidiaries of controlling shareholder Luzhou Laojiao Group, not related to the listed company; their investments are unrelated to the company.在投资者平台宣布：四川金舵投资有限责任公司和四川璞信产融投资有限责任公司为控股股东泸州老窖集团子公司，与上市公司无股权关系，其投资行为与公司无关。
Executive & governance高管与治理
7 · 2024-05-24 → 2026-06-08
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Luzhou Laojiao held board meetings, approved auditor appointments, revised articles of association, and disclosed executive compensation and shareholder agreements.泸州老窖召开董事会会议，批准审计师任命，修订公司章程，并披露高管薪酬和股东协议。
2024-05-24Luzhou Laojiao's controlling shareholder, Laojiao Group, and the second largest shareholder, Xinglu Group, renewed their concerted action agreement on May 23, 2024.泸州老窖控股股东老窖集团与第二大股东兴泸集团于2024年5月23日续签了一致行动协议。
2024-06-04Luzhou Laojiao announced its 2023 annual general meeting of shareholders will be held on June 27, 2024, to consider 11 proposals including the 2023 board work report, change of accounting firm, and amendment of the company's articles of association.泸州老窖公告将于2024年6月27日召开2023年度股东大会，审议2023年度董事会工作报告、变更会计师事务所、修订公司章程等11项议案。
2024-09-23Luzhou Laojiao held 11th board 4th meeting via communication vote, reviewing the 'Revised Luzhou Laojiao Investment Management System' proposal.泸州老窖以通讯表决方式召开第十一届四次董事会会议，审议了《关于修订泸州老窖股份有限公司投资管理制度的议案》。
2025-06-04Board approved to renew appointment of ShineWing Certified Public Accountants as 2025 auditor, with total fee cap of RMB 1.37 million.董事会批准续聘信永中和会计师事务所为2025年度审计机构，总费用上限137万元。
2025-06-27Shareholders approved revised Articles of Association and appendices to improve corporate governance structure.股东大会审议通过修订后的公司章程及附件，完善公司治理结构。
2026-04-08Luzhou Laojiao's 11th Board of Directors 23rd meeting approved the 'Proposal on Estimating 2026 Daily Related Party Transactions', with related directors Liu Miao and Xiong Bo recusing themselves.泸州老窖第十一届董事会二十三次会议审议通过《关于预计2026年度日常关联交易的议案》，关联董事刘淼、熊波回避表决。
2026-06-08Luzhou Laojiao board approved revised articles of association, calling 2025 annual general meeting for June 30, and a related-party transaction for the 'Nongxiang National Liquor Experience Marketing Center' Phase II project (≤345.23 million yuan).泸州老窖董事会审议通过修订公司章程、召开2025年度股东会（6月30日）及浓香国酒体验营销中心二标段关联交易（不超过3.45亿元）等议案。
Strategic cooperation MoUs战略合作备忘录
8 · 2024-05-29 → 2026-03-30
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Luzhou Laojiao signed strategic cooperation agreements with Fangda Group, ABB China, and other entities, and held discussions with various companies on potential collaboration.泸州老窖与方大集团、ABB中国等签署战略合作协议，并与多家企业就潜在合作进行洽谈。
2024-05-29Hebei State-owned Capital Control Group held a business discussion with Luzhou Laojiao Guojiao Liquor Sales Co., Ltd. to discuss in-depth cooperation in the liquor sector, including experience center construction.河北国控与泸州老窖国窖酒类销售股份有限公司举行业务恳谈会，围绕酒业板块深层次合作及体验馆建设进行交流。
2024-08-22Dongyangguang Group (600673) visited Luzhou Laojiao Capital; both parties discussed cooperation in M&A investment, supply chain finance, and asset management, with Luzhou Laojiao Group VP Li Jin attending.东阳光集团（600673）到访老窖资本，双方就并购投资、供应链金融、资产管理等座谈交流，泸州老窖集团副总裁李金出席。
2024-08-26Luzhou Laojiao Co., Ltd. led a delegation to visit Hongli Zhihui (300219) to explore cooperation on the Luzhou Laojiao Historical and Cultural Industrial Park project, focusing on LED lighting and display technologies.泸州老窖股份有限公司率队考察鸿利智汇（300219），就泸州老窖历史文化产业园项目探讨合作，聚焦LED照明和显示技术。
2024-11-08Chongqing Lvfa Group, along with partners including Sinopec Chongqing Yijie, visited Luzhou Laojiao for discussions; both sides explored cooperation in bulk supply chain trade, logistics, and liquor product sales channels.重庆绿发集团携中国石化重庆易捷分公司等合作伙伴到访泸州老窖交流，双方探讨在大宗供应链贸易、物流、酒类动销等渠道建设方面的合作。
2025-04-13Yongqing Group Chairman Liu Zhengjun led a delegation to visit Luzhou Laojiao; both sides discussed financing M&A, tech innovation, and industrial synergy, planning cooperation in eco-environmental protection, smart energy, and dual-carbon governance.永清集团董事长刘正军率队访问泸州老窖，双方围绕融资并购、科技创新、产业协同座谈，计划在生态环保、智慧能源、双碳治理等领域开展合作。
2025-09-08Luzhou Laojiao Group Vice President Liu Lianqiang visited FAW Group (China First Automobile) to discuss supply chain collaboration, logistics, automotive lighting, and baijiu-automotive cultural integration.泸州老窖集团副总裁刘联强率队拜访中国一汽，探讨大宗供应链协同、物流、汽车照明及酒文化与汽车文化融合等合作。
2025-11-27Signed a strategic cooperation agreement with ABB (China) Co., Ltd. to collaborate on green factory, smart manufacturing, digital upgrade, and medium/low-voltage electrical products.与ABB（中国）有限公司签署战略合作协议，围绕绿色工厂、智能制造、数字化升级及中低压电气产品等领域开展合作。
2026-03-30Luzhou Laojiao signed a strategic cooperation agreement with Fangda Group, covering finance, investment, trade, liquor, food, and customer resource sharing.泸州老窖与辽宁方大集团签署战略合作协议，围绕金融产投、贸易、酒品、食品、客户资源共享共建等方面开展全方位合作。
R&D and scientific achievements研发与科技成果
7 · 2024-05-31 → 2026-06-03
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Ten major sci-tech achievements, microbial research, and university partnerships十大科技成果、微生物研究和大学合作
2024-05-31Luzhou Laojiao held a Science, Technology and Talent Work Conference, summarizing the achievements of the past decade in technological innovation and talent cultivation, and deploying future work.泸州老窖召开科技和人才工作大会，总结近十年科技创新和人才培养成果，部署未来工作。
2024-06-03Luzhou Laojiao held its 2024 Science, Technology and Talent Work Conference, releasing ten major scientific and technological innovation achievements from 2015-2024, covering digitalization, smart brewing, and green brewing.泸州老窖召开2024年科技和人才工作大会，发布2015-2024年十大科技创新成果，涵盖数字化、智慧酿造、绿色酿造等领域。
2025-01-02Luzhou Laojiao signed Phase 2 strategic cooperation framework agreement with Nanjing Normal University, covering 40+ joint projects on solid-state fermentation microbes, flavor substances, health products, and baijiu culture.泸州老窖与南京师范大学签署第二期战略合作框架协议，围绕固态酿造微生物、风味物质、大健康产品、白酒文化等联合开展40余项项目。
2025-08-09Luzhou Laojiao and partners published a review paper in Trends in Food Science & Technology (IF 15.4) on microbial engineering for baijiu quality enhancement, advancing pit mud microbiology research.泸州老窖与合作团队在《Trends in Food Science & Technology》（IF 15.4）发表关于微生物工程赋能白酒品质升级的综述论文，推进窖泥微生物研究。
2025-10-14Luzhou Laojiao, with Wecare Probiotics and Nanjing Normal University, isolated probiotics LZLJ01 and LZLJ09 from century-old pits and launched Luzhou Laojiao Probiotic Special Dietary Tablets (certified special dietary food) into mass production.泸州老窖联合微康益生菌和南京师范大学，从百年窖池中分离出益生菌LZLJ01和LZLJ09，并推出泸州老窖益生菌特膳片（已获特膳食品认证）进入量产阶段。
2026-05-01Luzhou Laojiao announced the winning bidder for the 2026-2027 microbial and related sample testing service procurement project: Shanghai Personal Biotechnology Co., Ltd.泸州老窖公布2026-2027年微生物及相关样品指标检测服务采购项目成交供应商：上海派森诺生物科技股份有限公司。
2026-06-03Three major sci-tech projects by Luzhou Laojiao (with Jiangnan University, Tsinghua, etc.) passed expert appraisal and were rated 'international leading level', covering ecological analysis, microbial regulation, and intelligent brewing.泸州老窖与江南大学、清华大学等合作的三大科技项目通过鉴定，整体技术达到“国际领先水平”，涵盖生态解析、微生物调控和智能酿造领域。
Consumer complaints and CSR消费者投诉与企业社会责任
6 · 2024-06-05 → 2025-07-22
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Food safety complaints, disaster relief donations, and rural tourism support食品安全投诉、灾害捐赠和乡村旅游支持
2024-06-05A consumer complaint against Luzhou Laojiao for food safety issues (filed May 20) resulted in no mediation agreement on May 29, handled by Luzhou Longmatan District Market Supervision Bureau.一起针对泸州老窖的食品安全投诉（5月20日提交）于5月29日未达成调解协议，由泸州市龙马潭区市场监督管理局处理。
2024-06-28A second consumer complaint against Luzhou Laojiao (filed June 21) for alleged product quality issues (counterfeit/substandard) was resolved through mediation on June 26.第二起针对泸州老窖的消费者投诉（6月21日提交），涉及产品质量问题（以假充真、以次充好），于6月26日达成调解协议。
2024-09-29Luzhou Laojiao donated 10 million yuan to Ganzi County for tourism industry support, including a 8.09 million yuan rural tourism complex project and training 46 tourism talents.泸州老窖向甘孜县捐赠1000万元用于旅游产业帮扶，包括总投资809万元的农牧旅融合综合体项目，并培训46名旅游人才。
2025-01-09Luzhou Laojiao board approved a donation of RMB 10 million in cash to the Tibet Autonomous Region Charity Federation for earthquake relief in Dingri County, Xigaze.泸州老窖董事会批准向西藏自治区慈善总会定向捐赠现金1000万元，用于支持日喀则市定日县地震灾区抗震救灾。
2025-02-11Luzhou Laojiao donates RMB 10 million to the Red Cross Society of China for landslide relief in Junlian County, Yibin, Sichuan.泸州老窖向中国红十字会总会捐赠1000万元，用于四川省宜宾市筠连县山体滑坡抢险救灾。
2025-07-22Board approved establishment of 'Luzhou Laojiao Rural Revitalization Public Welfare Fund' with China Foundation for Rural Development, total donation 20 million yuan over 3 years (2025-2027).董事会批准与中国乡村发展基金会共同设立'泸州老窖乡村振兴公益基金'，捐赠总额2000万元，为期3年（2025-2027年）。
Investment funds and venture capital投资基金与风险投资
3 · 2024-07-01 → 2024-08-14
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Tykry Semiconductor, Guangzhou Chuangyu Mingyao, and multiple VC partnerships投资Tykry半导体、广州创钰铭耀及多个创投合伙
2024-07-01Luzhou Laojiao's fund, Guangzhou Yiqijinduo Investment Partnership, invested in Tykry Semiconductor Technology (Beijing) Co., Ltd., a SiC chip and power device maker.泸州老窖旗下广州壹期金舵投资合伙企业投资泰科天润半导体科技（北京）有限公司，该公司专注于碳化硅芯片和功率器件研发制造。
2024-08-09Luzhou Laojiao Group's subsidiary Sichuan Jindou Investment Co., Ltd. indirectly invested in the 500 million yuan venture capital fund 'Guangzhou Chuangyu Mingyao' through Foshan Jinchun Yihao, alongside Guangdong Lvtong New Energy.泸州老窖集团旗下四川金舵投资有限责任公司通过佛山金醇壹号间接投资5亿元创投基金“广州创钰铭尧”，与广东绿通新能源共同持股。
2024-08-14Luzhou Laojiao Group established Shenzhen Jinjun Runwan No.1 Investment Partnership (limited partnership) with a capital of 495 million yuan, held by Sichuan Jindou Investment and Jinhui Honghu (Shenzhen) Enterprise Management.泸州老窖集团成立深圳市金骏润湾壹号投资合伙企业（有限合伙），出资额4.95亿元，由四川金舵投资和金惠红湖（深圳）企业管理共同持股。
Industry standards & policy行业标准与政策
2 · 2024-07-30 → 2025-06-05
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Luzhou Laojiao monitored consumption tax reform policies and discussed intelligent brewing upgrades and industrial AI applications.泸州老窖关注消费税改革政策，并讨论智能酿造升级和工业AI应用。
2024-07-30Luzhou Laojiao said it will closely monitor consumption tax reform policies and conduct research and analysis.泸州老窖表示将密切关注消费税改革政策动态，开展研究分析。
2025-06-05Visited Supcon Technology to discuss intelligent brewing upgrade, industrial AI, and robotics applications in baijiu production.考察中控技术，探讨智能酿造升级、工业AI及机器人在白酒生产中的应用。
Brand rankings and awards品牌排名与奖项
7 · 2024-09-10 → 2025-07-18
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Kantar BrandZ, Golden Bull, China Manufacturing 500, and governance awardsKantar BrandZ、金牛奖、中国制造业500强和治理奖项
2024-09-10In the 2024 Kantar BrandZ China Top 100, Guojiao 1573 ranked 32nd with brand value of $6.495 billion; Luzhou Laojiao ranked 53rd with brand value of $3.107 billion.2024年凯度BrandZ最具价值中国品牌100强中，国窖1573以64.95亿美元品牌价值排名第32位，泸州老窖以31.07亿美元排名第53位。
2024-09-27Luzhou Laojiao ranked 123rd in the 2024 China Manufacturing Top 500, up 11 places; ranked 5th in Sichuan Top 100 Enterprises, up 4 places.泸州老窖入围2024中国制造业企业500强，位列第123位，排名提升11位；入围四川100强企业，位列第5位，排名提升4位。
2024-10-24Luzhou Laojiao won the '2023 Golden Bull Most Investment Value Award' and '2023 Golden Bull Best Information Disclosure Award' at the 26th Golden Bull Awards ceremony.泸州老窖在第二十六届上市公司金牛奖颁奖典礼上荣获“2023年度金牛最具投资价值奖”与“2023年度金信披奖”。
2024-11-07Luzhou Laojiao won the 'Golden Bull Most Investment Value Award' and 'Golden Bull Best Information Disclosure Award' at the 26th Golden Bull Awards for listed companies, marking the 16th consecutive year it has received a Golden Bull award.泸州老窖在第二十六届上市公司金牛奖中荣获“金牛最具投资价值奖”和“金信披奖”，已连续16年获得金牛奖项。
2024-11-14Luzhou Laojiao was selected as a '2024 Best Practice Case for Listed Company Boards' by the China Association for Public Companies, with only 120 companies (about 2%) selected from over 5,000 A-share companies.泸州老窖荣获中国上市公司协会“2024上市公司董事会最佳实践案例”，从5000余家A股公司中选出120家（约2%）。
2025-02-28Luzhou Laojiao is listed among the first batch of 'China Consumer Famous Brands' published by the Ministry of Industry and Information Technology (MIIT).泸州老窖入选工业和信息化部公示的首批中国消费名品名单。
2025-07-18Luzhou Laojiao was listed on the 'China Brand Internationalization Benchmark 100' by the International Brand Academy at the Hong Kong World Brand Conference.泸州老窖在香港世界品牌大会上入选国际品牌科学院发布的'中国品牌国际化标杆100'榜单。
IP & patents知识产权与专利
2 · 2024-12-04 → 2025-01-26
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Luzhou Laojiao renewed key trademarks, filed new trademark applications, and registered software and art copyrights.泸州老窖续展关键商标，提交新商标申请，并注册软件和美术作品著作权。
2024-12-04Luzhou Laojiao stated it has renewed trademarks including 'Luzhou Laojiao', 'Guojiao', and 'Guojiao 1573' before expiry in accordance with the Trademark Law.泸州老窖表示已依据《商标法》在商标到期前续展了“泸州老窖”“国窖”“国窖1573”等商标。
2025-01-26Luzhou Laojiao filed a new trademark application for 'Luzhou Laojiao Lighthouse Light' (泸州老窖灯塔之光).泸州老窖新提交“泸州老窖灯塔之光”商标注册申请。
ESG & green initiativesESG与绿色倡议
1 · 2025-01-09
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Luzhou Laojiao launched an ESG system construction project and collaborated with ABB on green factory and smart manufacturing initiatives.泸州老窖启动ESG体系建设项目，并与ABB合作推进绿色工厂和智能制造。
2025-01-09Luzhou Laojiao held an ESG system construction project kick-off meeting, chaired by Chairman Liu Miao, to advance ESG体系建设.泸州老窖召开ESG体系建设项目启动会，由董事长刘淼主持，推进ESG体系建设。
Awards & certifications奖项与认证
6 · 2025-03-02 → 2026-04-30
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Luzhou Laojiao held brewing skills competitions, Fengcang ceremonies, and the Jiaozhu Festival, showcasing its cultural heritage and craftsmanship.泸州老窖举办酿酒技能大赛、封藏大典和窖主节，展示其文化遗产和酿造技艺。
2025-03-02Luzhou Laojiao held the 2025 'Huaiyu Cup' brewing skills competition, a long-standing industry event to promote intangible cultural heritage and craftsmanship.泸州老窖举办2025年“怀玉杯”酿酒技能大赛，这是白酒行业历史最久、影响最大的品牌性技能竞赛之一，旨在传承非遗文化与工匠精神。
2025-03-02Luzhou Laojiao held the 2025 Guojiao 1573 Fengcang Grand Ceremony (Sealing Ceremony) in Luzhou, marking 110 years since Chinese strong-aroma baijiu first went overseas and won an international gold medal.泸州老窖在泸州举行2025年国窖1573封藏大典，纪念中国浓香白酒首次出海并荣获国际金奖110周年。
2025-03-20Luzhou Laojiao launched the 2025 'Jiaozhu Festival' (Cellar Master Festival) in Chengdu, a consumer-interaction IP event featuring eight themed days, immersive zones, and creative cocktails, aiming to engage younger consumers.泸州老窖在成都启动2025年“窖主节”，这是一个以“窖”文化为核心的消费者互动IP活动，设有八大主题日和沉浸式展区，旨在吸引年轻消费者。
2026-03-21Luzhou Laojiao held its 19th Fengcang (Sealing and Storage) Grand Ceremony on March 20, 2026, emphasizing the 'living dual national treasures' — the 1573 National Treasure Pit Group (continuously fermented for over 450 years) and the Luzhou Laojiao traditional brewing technique (inherited for over 700 years).泸州老窖于2026年3月20日举办第十九届封藏大典，强调“活态双国宝”——持续酿造450余年的1573国宝窖池群与传承700余年的泸州老窖酒传统酿制技艺。
2026-03-23Luzhou Laojiao held the 2026 'Jiaozhu Festival' (Distiller Master Festival) themed 'Chinese-style Mixology, Naturally Trendy', featuring Erqu liquor-based mixed drinks and interactive games.泸州老窖举办2026年窖主节，主题为“中式特调・本来就潮”，推出二曲调饮及潮玩互动活动。
2026-04-30Luzhou Laojiao held the 2026 'Huaiyu Cup' brewing skills competition, marking the 20th anniversary of the inclusion of its traditional brewing technique in the national intangible cultural heritage list and the 30th anniversary of the '1573 National Treasure Pit Group' being listed as a national key cultural relic protection unit.泸州老窖举办2026年“怀玉杯”酿酒技能大赛，纪念“泸州老窖酒传统酿制技艺”入选国家级非遗二十周年与“1573国宝窖池群”入选全国重点文物保护单位三十周年。
Cultural and tourism initiatives文化与旅游举措
8 · 2025-06-05 → 2026-06-18
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Baidiao Music Live, experience stores, museum project, and liquor-tourism integration百调音乐现场、体验店、博物馆项目和酒旅融合
2025-06-05Acquired a retail commercial land parcel at Jiangyang Middle Road, Luzhou for a baijiu museum via agreement transfer at RMB 77,100.通过协议出让方式以7.71万元取得泸州市江阳中路东侧零售商业用地，用于白酒博物馆建设。
2025-06-19Planning multiple liquor-tourism integration projects to create a consumption scene cluster featuring 'cellar, cave, garden, workshop, river, boat, mountain, port'.筹划多个酒旅融合重点项目，打造以“窖洞园坊，江舟山港”为特色的消费场景集群。
2025-08-18Luzhou Laojiao established Luzhou Laojiao Cultural Tourism Development Co., Ltd., with registered capital of 30 million yuan, indirectly wholly owned, covering tourism, hotel management, and robot sales.泸州老窖成立泸州老窖文化旅游发展有限公司，注册资本3000万元，间接全资持股，经营范围包括旅游、酒店管理、服务消费机器人销售等。
2025-11-05Board approved investment of ~1.478 billion yuan (including 420 million yuan already spent on acquiring Fenghuangshan campus assets) to build Luzhou Laojiao Historical Culture Industrial Park and Sichuan China Baijiu Museum; construction period ~50 months, self-funded.董事会批准投资约14.78亿元（含已用于购置泸州老窖天府中学凤凰山校区资产4.2亿元）建设泸州老窖历史文化产业园暨四川中国白酒博物馆项目；建设工期约50个月，自筹资金。
2026-03-18Luzhou Laojiao's 'Baidiao Music Live' venue officially opened at the confluence of the Yangtze and Tuo rivers in Luzhou on March 10, 2026; simultaneously, the 'Baidiao Coffee Bar' format integrating urban reception hall functions began operations in Yixing, Jiangsu.泸州老窖“百调音乐现场”于2026年3月10日在泸州两江交汇处正式启幕；同时，融合城市会客厅功能的“百调酒咖”业态在江苏宜兴投入运营。
2026-05-19Luzhou Laojiao announced the winning bidder for the Luzhou Laojiao Historical Culture Industrial Park and Sichuan China Baijiu Museum digital museum construction project: China Telecom Digital Intelligence Technology Co., Ltd., with a winning bid of 15.819345 million yuan.泸州老窖公布泸州老窖历史文化产业园暨四川中国白酒博物馆项目数智博物馆建设中标候选人：中电信数智科技有限公司，中标金额1581.9345万元。
2026-06-04Luzhou Laojiao's 'Nongxiang National Liquor Experience Marketing Center' Phase II project awarded to a consortium led by China Railway Shanghai Engineering Bureau and Luzhou Laojiao Construction & Installation Co., with total contract value not exceeding 345.2258 million yuan (related-party transaction).泸州老窖“浓香国酒体验营销中心”二标段工程由中铁上海工程局与泸州老窖建安公司等联合体中标，交易总金额不超过34,522.58万元（关联交易）。
2026-06-18Luzhou Laojiao Experience Store opened in Chongqing Shibati traditional scenic area, integrating 'intangible heritage + cultural tourism' with customized products, private cask service, and tasting spaces.泸州老窖体验馆在重庆十八梯传统风貌区开业，融合“非遗+文旅”，提供定制化产品、个性封藏服务、老酒品鉴等。
Legal & compliance法律与合规
4 · 2025-07-30 → 2026-01-31
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Luzhou Laojiao faced enforcement actions from a court, was involved in a franchise contract dispute, and dissolved a joint venture company.泸州老窖面临法院执行行动，涉及特许经营合同纠纷，并解散一家合资公司。
2025-07-30Luzhou Laojiao became a new enforcement target (zhixing beizhixing ren) by Baoji Intermediate People's Court, with execution标的 of about 140,900 yuan.泸州老窖新增一条被执行人信息，执行法院为陕西省宝鸡市中级人民法院，执行标的约14.09万元。
2025-08-01Luzhou Laojiao was listed as an enforcement target by Baoji Intermediate People's Court, Shaanxi Province, with an execution标的 of over 140,000 yuan.泸州老窖被陕西省宝鸡市中级人民法院列为被执行人，执行标的金额超过14万元。
2025-12-30The 11th board of directors at its 19th meeting (by communication) approved the resolution to dissolve the jointly invested company China Travel Luzhou Laojiao Cultural Tourism Development Co., Ltd., and revised the external guarantee management system.第十一届董事会十九次会议（通讯表决）审议通过注销参股公司中旅泸州老窖文化旅游发展有限公司的议案，并修订了对外担保管理制度。
2026-01-31Upcoming court hearing: as plaintiff in franchise contract dispute against Zhonghe Canmeng Information Technology Co., Ltd. and Hunan Mama Tea Catering Management Co., Ltd. at Changsha Tianxin District People's Court on February 3, 2026.即将开庭：作为原告起诉中合餐盟信息技术有限公司、湖南妈妈茶餐饮管理有限公司的特许经营合同纠纷案于2026年2月3日在长沙市天心区人民法院开庭。
