Shede Spirits held its second extraordinary shareholders' meeting of 2026 on September 29, reviewing and approving proposals including the board renewal election, with the new board and senior management lineup announced. At the first meeting of the new board held subsequently, Tang Hui was elected chairman, while also continuing as company president. Li Anhua and Luo Chao were appointed vice presidents, Zhong Lingyao continued as chief financial officer, and Zhang Wei continued as board secretary. Tang Hui, 46, has 20 years of experience in the Procter & Gamble system and has served as president of Shede Spirits since December 2023. In terms of board seats, Fosun and the Shehong municipal government representatives remain the same as the previous term, with the Shehong municipal government recommending Tan Xiangyang from the finance system to join the board for the first time. The baijiu industry remains in a period of deep adjustment. Shede Spirits' 2026 interim report shows operating revenue and net profit attributable to the parent company of 2.287 billion yuan and 145 million yuan respectively, both down year on year. The company has proactively implemented a strategy of controlling volume and stabilizing prices to support dealers in reducing inventory.
Fosun International Ltd
Procter & Gamble CompanySichuan Tuopai Shede Wine Co LtdBoard renewal and reappointment of Tang Hui as chairman/president amid a deep baijiu industry adjustment and declining H1 revenue and profit.
