Companies that make spirits and wine — whisky, vodka, gin and the wineries behind the bottles on the shelf.
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Diageo's Johnnie Walker Launches Limited Edition Blue Label Indian Festive Blend
Diageo brand Johnnie Walker has introduced a limited edition Blue Label Indian Festive Blend inspired by India's festivals and cuisine. The release features packaging and design created with Indian couturier Rahul Mishra, highlighting contemporary Indian visual themes, and the blend is tailored specifically for the Indian market, reflecting local flavor influences and cultural traditions. The launch fits Diageo's broader push to localise brands in key consumption markets like India, part of a premiumization strategy aimed at earning more from affluent drinkers rather than chasing volume, and it puts the £36.4b beverage group up against competitors including Pernod Ricard and Campari. The move does not address a key gap analysts have flagged: Diageo still needs broader product development in low and no-alcohol options as moderation trends build.
DGE.LSE · Demand · Positive Johnnie Walker launches a limited-edition Blue Label Indian Festive Blend tailored to the Indian market, supporting Diageo's localisation and premiumization push.
DGE.LSE · Technology · Negative Article notes Diageo still lacks broader low- and no-alcohol product development as moderation trends build.
Constellation Brands Beats Q2 Estimates and Agrees to Acquire SpikedAde
Constellation Brands reported past second-quarter results with higher sales of US$2,816.7 million, revenue of US$2,633 million, and net income of US$565.8 million versus the prior year, while affirming a quarterly dividend of US$1.03 per share. Alongside the earnings beat, the company agreed to acquire spirit-based ready-to-drink brand SpikedAde, extending its push into convenience-focused flavored alcohol formats and newer drinking occasions. The company also reaffirmed its fiscal 2027 comparable EPS outlook of US$11.20 to US$11.90, a figure that stands out among recent news and reinforces the role of cost savings, Pacifico's rise into the top 10 beer brands, and occasion-based innovation in the investment case. Management nonetheless acknowledged weaker depletions in some core beers and ongoing margin pressure in Wine & Spirits, with tariff-driven cost inflation and a stretched core beer consumer remaining key risks. Constellation Brands' narrative projects US$9.5 billion in revenue and US$2.1 billion in earnings by 2029, requiring 1.6% yearly revenue growth and a US$0.3 billion earnings increase from US$1.8 billion today, while some cautious analysts assume revenue shrinking about 1.1 percent a year to around US$8.8 billion.
Wuliangye has repurchased a cumulative 16.1278 million shares, paying approximately 1.201 billion yuan
Wuliangye announced that as of September 30, 2026, the company had repurchased a cumulative 16.1278 million shares, accounting for 0.4155 percent of total share capital, with a total payment of approximately 1.201 billion yuan. The highest transaction price in this buyback was 85.25 yuan per share, and the lowest was 70.28 yuan per share. The company previously disclosed plans to repurchase shares with 8 billion to 10 billion yuan, and the amount paid so far accounts for about 15 percent of the lower limit of that buyback plan.
Constellation Brands Tops Q2 Estimates, Eyes High End of Fiscal 2027 Guidance
Constellation Brands reported second-quarter earnings of $3.74 per share on revenues of $2.63 billion, beating the Zacks Consensus Estimate of $3.62 per share and $2.57 billion in revenue, and reaffirmed fiscal 2027 comparable earnings guidance of $11.20-$11.90 per share. On the earnings call, President and CEO Nicholas Fink said September's improving beer demand trends, helped by college football programming and stronger consumer engagement, could push results toward the high end of that range, while CFO Garth Hankinson said second-quarter performance exceeded internal expectations even after accounting for distributor inventory rebuilding. Beer shipments rose 5.5% while depletions fell 0.6% in the quarter, and management said distributor inventories have recovered but remain below historical averages, with full-year shipments and depletions expected to track within 99% of each other. Pacifico grew approximately 20% year to date and entered the 10 largest U.S. beer brands, Victoria posted first-half growth in the mid-teens, and Modelo Especial and Corona Extra saw depletion declines of approximately 2% and 5%, respectively. Beer operating margin fell 160 basis points to 39%, and Hankinson projected second-half beer operating margins of 34.5%-35.5%, with the Veracruz brewery set to enter service early in fiscal 2028, bringing roughly $75 million in annualized depreciation and a 90-basis-point margin headwind. The company has repurchased $530 million in shares year to date, with approximately $2.5 billion remaining under an authorization extending through fiscal 2028, and its SpikedAde acquisition involved $75 million upfront plus potential contingent payments totaling $278 million.
STZ · Capital · Positive Q2 EPS of $3.74 and revenue of $2.63B beat consensus, with fiscal 2027 guidance reaffirmed at $11.20-$11.90.
STZ · Demand · Positive CEO Fink cited improving September beer demand trends from college football programming and stronger consumer engagement, potentially pushing results to the high end of guidance.
Constellation Brands reported second quarter fiscal 2027 revenues of $2.63 billion, surpassing the Zacks Consensus Estimate by 2.46%, sending its shares up 2.4%. Penguin Solutions reported fourth quarter 2026 revenues of $566.69 million, beating the Zacks Consensus Estimate by 10.57%, and its shares surged 13.1%. Space Exploration Technologies Corp. shares fell 2.5% after Bloomberg reported the company is seeking to raise $40 billion in new debt to purchase Nvidia chips for its data centers. Moderna shares rose 4.8% as health emerged as one of the biggest-gaining sectors in the session.
Constellation Brands reported third-quarter revenue of $2.63 billion, beating analyst estimates of $2.53 billion with 6.1% year-on-year growth, while adjusted EPS came in at $3.74 against estimates of $3.55. The company reconfirmed its full-year revenue guidance of $9 billion at the midpoint and reiterated full-year adjusted EPS guidance of $11.55 at the midpoint. Operating margin fell to 30.6% from 35.2% a year earlier, and market capitalization stands at $20.22 billion. On the earnings call, CEO Nicholas Fink said the beer business outperformed and accelerated meaningfully quarter-on-quarter, crediting marketing investments and brands like Pacifico and Modelo, and noted distributor inventory levels are now more balanced. CFO Garth Hankinson pointed to seasonality effects and ongoing cost controls as supporting improved gross margins in the second half, while Fink said RTD acquisitions such as SpikedAde are approached cautiously to ensure sustainability and fit with distribution strengths.
CITIC's Wang Liang takes over as chairman of *ST Niya; group financial services agreement supports shell preservation
Blue Whale News, October 8 — *ST Niya completed its board renewal at an extraordinary shareholders' meeting, with CITIC-affiliated Wang Liang elected chairman, and Ke Chao serving as vice chairman and general manager while continuing to concurrently hold the role of chief financial officer. Wang Liang, born in 1981, is currently a member of the party committee and chief financial officer of CITIC Guoan Industrial. Ke Chao, born in 1971, was appointed general manager of *ST Niya on January 28, 2026, and after the board renewal at the end of September, became vice chairman, general manager, and chief financial officer. *ST Niya is a wine enterprise integrating grape cultivation, production, sales, and research, owning several well-known domestic wine brands including Niya, Xiyu, Xintian, and Tianfangyetan. As of the end of June this year, it has developed more than one hundred distributor and key account partners nationwide. The company is currently on the life-or-death line for shell preservation: revenue in 2025 was 123 million yuan, down 23.62 percent year on year, with net profit attributable to the parent company at negative 26.0755 million yuan and non-recurring net profit at negative 30.2558 million yuan. After deducting revenue unrelated to the main business and lacking commercial substance, revenue fell to 118 million yuan, below the 300 million yuan red line, with both indicators hitting the line simultaneously, triggering a delisting risk warning in April this year. In the first half of 2026, the company's revenue was 82.9365 million yuan, up 19.10 percent year on year, with net profit attributable to the parent company at 7.6954 million yuan, up 1,045.98 percent year on year, and non-recurring net profit at 3.7611 million yuan, turning from loss to profit compared with the same period last year. However, net operating cash flow was negative 23.7646 million yuan, with outflows expanding compared with the same period last year, and the heavy pressure of shell preservation remains. At the end of August, *ST Niya signed a three-year financial services agreement with CITIC Finance Company Limited, with a maximum daily deposit balance not exceeding 200 million yuan and a maximum comprehensive credit balance not exceeding 100 million yuan. CITIC Finance had total assets of 54.513 billion yuan and net assets of 8.408 billion yuan at the end of 2025. Shen Meng, a director at Chanson Capital, told Blue Whale News that Niya is CITIC's wine operation platform, and CITIC cannot abandon this brand and platform. Using resources within the group to continuously support and inject capital is also to ensure the maintenance of this platform, but the more important issue now is the company's future development.
600084.CG · Regulation · Positive CITIC-affiliated Wang Liang elected chairman and a group financial services agreement support *ST Niya's shell-preservation/delisting-risk efforts.
Changyu A hits limit-up after four years; first-half net profit falls 24.3%
On October 8, the first trading day after the National Day holiday, leading wine maker Changyu A opened lower but rallied to close at its daily limit-up price of 18.76 yuan per share, up 10.03%, with a market value of 12.1 billion yuan. This was Changyu A's first limit-up in four years, since August 10, 2022. Profitability continues to decline. In the first half of 2026, revenue reached 1.57 billion yuan, up 6.9% year on year, while net profit attributable to shareholders of the parent company was 140 million yuan, down 24.3%, marking another low for the same period in more than 20 years. Net profit fell for two consecutive years in 2024 and 2025, with 2025 attributable net profit plunging 76.6% to just over 70 million yuan, a record low since listing. For 2026, the company aims to achieve revenue of no less than 3 billion yuan and keep main business costs and three categories of period expenses below 2.7 billion yuan; it completed half of that target in the first half. At the end of September 2026, Changyu A announced the completion of a buyback of about 100 million yuan with share cancellation, following buybacks of about 175 million yuan in 2024 and 99.42 million yuan in 2025, with those repurchased shares also cancelled.
000869.CS · Capital · Neutral First-half 2026 net profit fell 24.3% and 2025 profit plunged 76.6%, but the stock hit limit-up and the company completed a ~100 million yuan buyback with share cancellation.
Coca-Cola Adds Prebiotic Fiber Soda as Constellation Buys Spiked for Up to $353 Million
Coca-Cola is adding a zero-sugar prebiotic soda to its lineup, Coca-Cola Zero Sugar with 6 grams of prebiotic fiber, with the same fiber option also coming to Sprite Zero Sugar and Fresca in a pilot starting this month in parts of New York, New Jersey and Pennsylvania. Separately, Semaphore reported that Chipotle Mexican Grill is tapping bankers amid takeover concerns, with one theory under discussion being a potential tie-up between Chipotle and Starbucks, though no bid is on the table and supporters argue the companies could combine operations in real estate while keeping the brands separate. Constellation Brands, the Modelo and Corona maker, beat Wall Street's earnings expectations with beer sales rising 5%, even as sales of Modelo Especial and Corona Extra declined, and the company also announced the acquisition of ready-to-drink brand Spiked in a deal potentially worth up to $353 million.
Webull Plunges 20% After Congressional Panel Flags China Ties as Security Risk
Webull shares tumbled 20% after CNBC reported that a congressional panel found the brokerage's ties to the Chinese government create a national security risk. Banks also fell as longer-dated Treasury yields rose to levels not seen in 24 years, with Citigroup, Wells Fargo and Goldman Sachs each down nearly 2%, while JPMorgan Chase, Bank of America and Morgan Stanley each slipped around 1%. Worthington Steel dropped 10% after first-quarter adjusted earnings of 57 cents per share came in sharply below the 77 cents a share reported a year earlier, results that reflect the impact of its acquisition of a majority interest in Klöckner & Co. Penguin Solutions jumped 15% on fourth-quarter adjusted earnings of $1 per share and revenue of $566.7 million, beating the 77 cents per share and $521 million analysts polled by FactSet expected. Constellation Brands added 2% on better-than-expected fiscal second-quarter results, earning $3.74 per share on revenue of $2.63 billion versus FactSet consensus of $3.55 per share and $2.54 billion, while Micron rose 3% after D.A. Davidson said it expects the chipmaker to triple, and NetApp gained 3% on an Evercore ISI upgrade to outperform from in line.
BULL · Regulation · Negative Congressional panel flagged Webull's China ties as a national security risk, sending shares down 20%.
PENG · Capital · Positive Penguin Solutions beat Q4 earnings and revenue estimates, jumping 15%.
STZ · Capital · Positive Constellation Brands beat fiscal Q2 earnings and revenue expectations, adding 2%.
WS · Capital · Negative First-quarter adjusted earnings of 57 cents per share came in sharply below the 77 cents a year earlier, reflecting the Klöckner acquisition.
MU · Capital · Positive D.A. Davidson said it expects Micron to triple, lifting shares 3%.
NTAP · Capital · Positive Evercore ISI upgraded NetApp to outperform from in line, sending shares up 3%.
Constellation Brands Falls on Earnings as Intel Rises on Terafab
Constellation Brands shares fell after the maker of Modelo Especial and Corona Extra reaffirmed its comparable earnings per share forecast for the full year and announced the acquisition of SpikedAde, a vodka-based drink brand. SpaceX shares were lower as Elon Musk's company is in talks with banks and investors to raise $40 billion to buy chips from Nvidia, with Pacific Investment Management Co. and Apollo Global Management Inc. involved in the early-stage discussions that could end without a deal. Intel shares rose as CEO Lip-Bu Tan said the company will continue working with Elon Musk on Terafab, after Musk responded on X to speculation that TSMC would play a larger role in the chip plant, saying, "we will build and run the fab."
STZ · Capital · Negative Constellation Brands shares fell after reaffirming its full-year comparable EPS forecast and announcing the SpikedAde acquisition.
INTC · Technology · Positive CEO Lip-Bu Tan said Intel will continue working with Elon Musk on Terafab, with Musk saying 'we will build and run the fab.'
SPCX · Capital · Neutral SpaceX is in talks with banks and investors to raise $40 billion to buy chips from Nvidia, an early-stage deal that could fall through.
NVDA · Demand · Neutral SpaceX is in talks to raise $40B to buy chips from Nvidia, though the discussions are early-stage and could end without a deal.
APO · Capital · Neutral PIMCO and Apollo are in early-stage talks to help fund SpaceX's $40B chip purchase, a deal that could end without agreement.
Constellation Brands beats estimates but beer demand durability questioned
Constellation Brands stock fell in premarket trading Wednesday even though the Corona and Modelo maker beat Wall Street's earnings expectations for its second quarter. Net sales came in at $2.63 billion, above analysts' expectations of $2.54 billion, and adjusted earnings per share of $3.74 topped estimates of $3.55. Beer sales grew 5% in the quarter to $2.47 billion, but the company said it shipped slightly more cases to distributors rebuilding depleted inventory, raising questions about whether consumer demand is actually picking up. Sales of Modelo Especial and Corona Extra declined, partially offset by growth in smaller brands such as Pacifico, Victoria, and Modelo Chelada, while Wine and Spirits sales rose 17% on a 15.4% increase in shipment volumes. Constellation Brands reaffirmed its full-year adjusted earnings per share forecast of $11.20 to $11.90, and also announced it acquired ready-to-drink cocktail brand SpikedAde for $75 million up front plus payments of up to $278 million over the next five years based on the brand's future performance.
STZ · Capital · Neutral Beat Q2 estimates on sales and EPS and reaffirmed full-year guidance, but beer demand durability questioned as shipments to rebuild distributor inventory may mask weak consumer demand.
STZ · Demand · Neutral Beer sales grew 5% but Modelo Especial and Corona Extra declined, with growth only in smaller brands, raising doubts about actual consumer demand.
Neogen raised its fiscal year guidance, sending shares up 11% premarket, with the food safety company now projecting revenue of $885 million to $890 million versus its earlier range of $880 million to $885 million and the FactSet consensus of $883.2 million. Penguin Solutions climbed more than 4% after fourth quarter adjusted earnings of $1 per share on revenue of $566.7 million beat the 77 cents per share and $521 million analysts polled by FactSet expected. Constellation Brands fell 5% even after reporting better-than-expected fiscal second quarter results, with earnings of $3.74 per share on revenue of $2.63 billion against analyst expectations of $3.56 per share on revenue of $2.54 billion, as beer operating margins decreased 160 basis points year on year and depletions fell slightly. Flutter Entertainment rose nearly 3% after Citi upgraded the FanDuel parent to buy from neutral, saying recent share price weakness on Brazil and September US sports results concerns are overblown.
Constellation Brands Falls on Guidance, SpaceX Debt Plan Weighs on Premarket
Constellation Brands shares fell 4.9% in premarket trading after the company's fiscal second-quarter 2027 results beat on earnings and revenue but its full-year profit outlook came in below analyst expectations. The company reported adjusted earnings of $3.74 per share, above consensus estimates of roughly $3.55 to $3.61, while net sales rose 6% year over year to $2.63 billion, topping the $2.54 billion estimate, but its reaffirmed fiscal 2027 adjusted EPS guidance of $11.20 to $11.90 carried a midpoint of $11.55, below the analyst consensus of about $11.72. Beer volumes remained weak, with Modelo Especial depletions down roughly 2% and Corona Extra down about 5%, bringing total beer depletions down 0.6% for the quarter, and the company also announced the acquisition of SpikedAde, a vodka-based, zero-sugar ready-to-drink beverage brand, for $75 million upfront plus up to $278 million in contingent payments over five years. Elsewhere in premarket trading, Intel shares rose 1% to around $113.50 after Elon Musk said TSMC will not own or operate the planned Terafab AI chip complex in Texas, easing concerns Intel could lose its role in the project, while Sigma Lithium shares surged nearly 5.9% after a Brazilian Federal Court of Appeals granted emergency suspensive relief upholding its environmental licenses at the Grota do Cirilo complex in Minas Gerais. Space Exploration Technologies shares slid 1.9% after a report said the company is seeking to raise $40 billion in debt to fund a massive Nvidia AI chip order, consisting of roughly $10 billion in bank loans and $30 billion in investment-grade bonds, with Apollo Global Management expected to lead the deal and Pimco among the lenders in early discussions.
STZ · Capital · Negative Constellation Brands' reaffirmed fiscal 2027 adjusted EPS guidance midpoint of $11.55 came in below analyst consensus of about $11.72.
STZ · Demand · Negative Beer volumes remained weak, with Modelo Especial depletions down ~2% and Corona Extra down ~5%, total beer depletions down 0.6%.
SGML · Regulation · Positive A Brazilian Federal Court of Appeals granted emergency suspensive relief upholding Sigma Lithium's environmental licenses at the Grota do Cirilo complex.
SPCX · Capital · Negative SpaceX is seeking to raise $40 billion in debt (bank loans plus investment-grade bonds) to fund a massive Nvidia AI chip order.
INTC · Competition · Positive Musk said TSMC will not own or operate the planned Terafab AI chip complex in Texas, easing concerns Intel could lose its role in the project.
Constellation Brands Q2 beats estimates but FY27 guidance misses consensus
Constellation Brands Inc reported second quarter results that exceeded analyst expectations, but shares fell 2.7% as the company's full-year earnings guidance came in below Wall Street estimates. The beer and spirits maker posted adjusted earnings per share of $3.74 for the second quarter, beating the analyst consensus of $3.61, while revenue reached $2.63 billion, up 6% YoY and ahead of the $2.54 billion estimate. However, the company maintained its fiscal 2027 adjusted EPS outlook of $11.20-$11.90, with a midpoint of $11.55 that falls short of the $11.72 analyst consensus. The Beer Business drove results with net sales growth of 5% to $2.47 billion, supported by a 5.5% increase in shipment volumes, and operating income for the beer segment rose 1% to $964.2 million, though operating margin decreased 160 basis points to 39.0% due to increased marketing investment. The Wine and Spirits Business delivered net sales growth of 17% to $159.4 million and depletions growth of 10.2%, and for fiscal 2027 Constellation expects organic net sales growth of negative 1% to positive 1% and operating cash flow of $2.4-$2.5 billion.
Constellation Brands Beats on Q3 Revenue but Guides Below Estimates
Constellation Brands reported calendar Q3 2026 results that topped revenue expectations but sent shares down 5.4% to $110.15 on weaker full-year guidance. Revenue rose 6.1% year on year to $2.63 billion, beating analyst estimates of $2.53 billion by 3.9%, while non-GAAP profit of $3.74 per share came in 5.5% above the $3.55 consensus. However, the company's full-year revenue guidance of $9 billion at the midpoint landed 0.9% below analysts' estimates, and management reiterated full-year Adjusted EPS guidance of $11.55 at the midpoint, which fell slightly short of Wall Street's expectations. Operating margin slipped to 30.6% from 35.2% a year earlier, and free cash flow margin declined to 24.3% from 25.6%, though free cash flow still reached $639.9 million. The company carries a market capitalization of $19.35 billion.
STZ · Capital · Negative Q3 revenue and EPS beat, but full-year revenue and Adjusted EPS guidance came in below estimates and operating margin slipped to 30.6% from 35.2%, sending shares down 5.4%.
Constellation Brands Beats Q2 Estimates With $3.74 EPS and $2.63 Billion Revenue
Constellation Brands reported quarterly earnings of $3.74 per share, beating the Zacks Consensus Estimate of $3.62 per share and topping last year's $3.63 per share. The result marked a positive earnings surprise of 3.32%, and the wine, liquor and beer company has now surpassed consensus EPS estimates in each of the last four quarters. Revenue for the quarter ended August 2026 came in at $2.63 billion, surpassing the Zacks Consensus Estimate by 2.46% and up from $2.48 billion a year ago, with the company also topping consensus revenue estimates four times over the last four quarters. Ahead of the release, the estimate revisions trend was mixed, translating into a Zacks Rank #3 (Hold) for the stock, which has lost about 17.9% since the beginning of the year against a 13.6% gain for the S&P 500. The current consensus EPS estimate stands at $2.89 on $2.22 billion in revenues for the coming quarter and $11.81 on $9.13 billion in revenues for the current fiscal year, while industry peer Molson Coors Brewing is expected to post quarterly earnings of $1.50 per share on revenues of $2.95 billion for the quarter ended September 2026.
Constellation Brands Beats Fiscal Q2 Estimates With $3.74 Adjusted EPS
Constellation Brands Inc. reported fiscal second-quarter earnings of $565.8 million, or $3.32 per share, with adjusted earnings of $3.74 per share topping the $3.62 average estimate of seven analysts surveyed by Zacks Investment Research. The Rochester, New York-based wine, liquor and beer company posted revenue of $2.82 billion, while adjusted revenue of $2.63 billion also beat the $2.57 billion expected by six analysts surveyed by Zacks. Constellation Brands expects full-year earnings in the range of $11.20 to $11.90 per share.
Constellation Brands Acquires SpikedAde in Deal Worth Up to $353 Million
Constellation Brands announced on October 6, 2026 that it has acquired SpikedAde, a spirit-based ready-to-drink brand competing in the emerging sports drink-inspired "Ade" segment. The transaction includes a $75 million payment at close for 100% ownership of the business, plus additional contingent consideration of up to $278 million payable over five years based on the future performance of the SpikedAde business. Constellation said the deal strengthens its position in the fast-growing RTD category, where dollar sales rose 25% in the last year, and expands its portfolio into an emerging, consumer-led demand space. SpikedAde combines familiar sports drink flavors with a vodka base in a zero-sugar, 100-calorie, non-carbonated format, and as a first mover in the space has built an established presence across the eastern U.S. The SpikedAde team will be integrated into Constellation's Beer Division, with Constellation assuming production oversight, marketing, and distribution and intending to align SpikedAde distribution with Gold Network Distributor partners. Constellation President and CEO Nicholas Fink said the company will leverage its capabilities to accelerate growth and expand the brand's reach, while SpikedAde Founder and CEO Jason Cohen said Constellation's scale and expertise will help the brand reach more consumers.
STZ · Capital · Positive Constellation Brands acquires SpikedAde for $75M at close plus up to $278M contingent, an M&A deal expanding its RTD portfolio.
Constellation Brands Reports Second Quarter Fiscal 2027 Results
Constellation Brands, Inc. reported its second quarter fiscal 2027 financial results. The Rochester, New York-based total beverage alcohol company, which trades on the New York Stock Exchange under the ticker STZ, released the results on October 6, 2026. President and Chief Executive Officer Nicholas Fink and Chief Financial Officer Garth Hankinson will host a conference call to discuss the financial results and outlook on Wednesday, October 7, 2026, at 8:00 a.m. ET. A live, listen-only webcast of the call will be available, and a PDF containing the second quarter fiscal 2027 financial results and full financial tables has been posted. Constellation Brands produces and markets beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy.
Laobaigan Liquor's H1 operating cash flow turns positive to 191 million yuan; says 10-billion-yuan revenue is a long-term vision
Laobaigan Liquor held an online performance briefing for its 2026 semi-annual report on the Shanghai Stock Exchange roadshow center on September 29. The company's net cash flow from operating activities in the first half turned positive to 191 million yuan from a negative 45.8 million yuan in the same period last year, up 517.0 percent year on year. Vice chairman and general manager Zhao Xudong and other senior executives attended and answered investor questions. In the first half, the company's operating revenue was 2.1 billion yuan, down 15.2 percent year on year; net profit attributable to the parent was 262 million yuan, down 18.5 percent; net profit attributable to the parent after deducting non-recurring items was 252 million yuan, down 14.8 percent; and earnings per share were 0.286 yuan. The company said the cash flow turnaround was mainly due to lower taxes and fees driven by the revenue decline and optimized expense investment, and that in the second half it will maintain necessary investment in key areas such as terminal development, consumer cultivation, and brand promotion. Regarding the goal raised at the May 2026 dealer forum for the main Hengshui Laobaigan brand to strive for 10 billion yuan in revenue within ten years, the company said this is a long-term vision. The industry is currently in a period of deep adjustment, and management does not pursue a high level of book advance receipts. Contract liabilities have fallen from 1.521 billion yuan at the end of 2023 to 1.026 billion yuan at the end of 2025, and further declined to 954 million yuan in the 2026 semi-annual report.
600559.CG · Capital · Negative H1 revenue fell 15.2% and net profit fell 18.5% year on year, with contract liabilities declining further to 954 million yuan.
Jim Cramer Flags Beer Slowdown Ahead of Constellation Brands Earnings
Jim Cramer said on the October 2 episode of Mad Money that Constellation Brands faces a genuine contraction in certain liquors and a steep slowdown in beer sales ahead of its scheduled October 6 earnings release. The company is set to report fiscal second-quarter 2027 results after the market closes on October 6, with its earnings call on October 7; its latest published quarterly results remain those for the period ended May 31. In its fiscal first-quarter 2027, beer sales rose 2% to approximately $2.28 billion and beer operating income also rose 2%, with Pacifico depletions up approximately 21%, Victoria up 14% and Modelo Chelada up 6%, while the remaining wine and spirits portfolio recorded 8% organic net sales growth and its reported sales decline of 47% reflected divestitures. Weakness persisted in the largest beer brands, as total beer depletions fell 0.3%, including an approximately 2% decline for Modelo Especial and a decline exceeding 5% for Corona Extra, while beer shipments increased 1.8%. The stock is down 19% for the year and trades at a forward earnings multiple of approximately 9.6x, compared with 7.8x for Molson Coors, and Insider Monkey's Q2 data tracking over 1000 hedge funds showed 59 hedge funds holding the stock versus 56 in the preceding quarter, with Harris Associates the top shareholder at nearly 3.1 million shares and short interest at 5.69% of the public float.
Constellation Brands Set to Report Q2 Earnings Tuesday With EPS Seen at $3.55
Constellation Brands is scheduled to announce its Q2 earnings results on Tuesday, October 6th, after market close. The consensus EPS estimate is $3.55, down 2.2% year over year, while the consensus revenue estimate is $2.54B, up 2.4% year over year. Over the last two years, Constellation Brands has beaten EPS estimates 75% of the time and revenue estimates 63% of the time. Over the last three months, EPS estimates have seen 2 upward revisions and 8 downward, while revenue estimates have seen 2 upward revisions and 7 downward.
Constellation Brands Set for Q2 Fiscal 2027 Report With $3.62 EPS Estimate
Constellation Brands is scheduled to release second-quarter fiscal 2027 results on Oct. 6, 2026, with the Zacks Consensus Estimate pegging earnings at $3.62 per share, a 0.3% decline from the year-ago quarter's actual, and revenues at $2.57 billion, up 3.6% year over year. The consensus earnings mark has moved down by a penny in the past seven days, and the company currently carries an Earnings ESP of -1.86% and a Zacks Rank #4 (Sell), a combination the Zacks model says does not conclusively predict an earnings beat. Constellation Brands delivered an earnings surprise of 6.5% in the last reported quarter and its bottom line beat estimates by 9.6%, on average, over the trailing four quarters. Results are expected to reflect continued strength in the beer business on premiumization and capacity expansion in Mexico, while the wine and spirits business transitions toward higher-end brands such as The Prisoner Brand Family, Kim Crawford and Meiomi, after sales plunged 47% in the fiscal first quarter. Tariffs, product mix, marketing timing, Veracruz start-up costs, and high packaging and raw material costs from inflationary pressures are expected to have weighed on operating income in both the beer and wine and spirits businesses. STZ trades at a forward 12-month price-to-earnings ratio of 9.39X, below its five-year high of 18.33X and the Beverages - Alcohol industry average of 13.91X, while its shares have lost 17.8% in the past three months compared with the industry's 6.7% decline.
Johnnie Walker Blue Label Launches Indian Festive Blend With Rahul Mishra
Johnnie Walker has announced the launch of the new Johnnie Walker Blue Label Indian Festive Blend, a rare limited-edition expression created exclusively for India's festive season. The blend was created by Johnnie Walker Master Blender Dr Emma Walker using some of the rarest whiskies from the brand's reserves of more than 10 million aging whiskies, where only one in every 10,000 casks is considered to have the depth of flavour required for Johnnie Walker Blue Label. Developed to complement the richness and diversity of Indian cuisine, the whisky layers aromatic notes of cardamom, clove and cinnamon with smooth sweetness, and is inspired by the balance at the heart of India's culinary heritage. The launch marks the second year of the Johnnie Walker collaboration with celebrated Indian couturier Rahul Mishra, continuing a shared commitment to craftsmanship, creativity and progressive design. The Johnnie Walker Blue Label Indian Festive Blend will be available starting late October at participating liquor stores in Canada for consumers of legal drinking age while supplies last.
DGE.LSE · Demand · Positive Johnnie Walker (Diageo) launches a new limited-edition Blue Label Indian Festive Blend, a new product offering aimed at India's festive season.
Shede Spirits Completes Board Renewal; Tang Hui Elected Chairman and Concurrently Serves as President
Shede Spirits Co., Ltd. convened its second extraordinary shareholders' meeting of 2026 on September 29, deliberating and approving proposals related to the board renewal election, resulting in the formation of the twelfth board of directors, with Tang Hui elected as chairman and concurrently serving as president. The new board consists of 11 directors, including non-independent directors Chen Chunlin, Chen Yihang, Zhou Bo, Tang Hui, Huang Zhen, and Tan Xiangyang; independent directors Liu Haiying, Yu Zhen, Xie Youping, and Ye Weiling; and employee representative director Liu Qiang, who was elected through the employee representative assembly on September 28. At the first meeting of the new board held the same day, it was approved that Tang Hui would continue as company president, Li Anhua and Luo Chao would serve as vice presidents, Zhong Lingyao would continue as chief financial officer, and Zhang Wei would continue as board secretary. Tang Hui, aged 46, has 20 years of experience within the Procter & Gamble system and has served as president of Shede Spirits since December 2023. This renewal received unanimous recognition from the two major shareholders, Fosun and the Shehong municipal government. The representation of both parties on the board remains consistent with the previous term, and the Shehong municipal government has for the first time recommended Tan Xiangyang, who comes from the financial system, to join the board and serve as a member of the strategy committee.
600702.CG · · Neutral Shede Spirits completed a board renewal and re-elected Tang Hui as chairman/president; a governance change with no clear product, financial, or operational driver.
Shede Spirits Completes Board Renewal; Tang Hui Elected Chairman and Reappointed President
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.
600702.CG · · Neutral Board renewal and reappointment of Tang Hui as chairman/president amid a deep baijiu industry adjustment and declining H1 revenue and profit.
Shunxin Agriculture Branch Tax Adjustment Expected to Reduce 2026 Net Profit
Shunxin Agriculture announced that its branch Pengcheng Food received a Tax Matters Notice from the competent tax authority, requiring a self-inspection of tax-related matters for the period from January 1, 2021 to December 31, 2025. After self-inspection, input value-added tax of 30.1081 million yuan needs to be transferred out. Since the book retained tax credit can be fully offset, it does not involve supplementary tax payment, late fees, or administrative penalties. This adjustment will be recorded in the 2026 profit and loss, and is expected to reduce the company's 2026 net profit, but will not affect daily production and operations.
Shunxin Agriculture's Pengcheng Food tax self-inspection requires input tax transfer of 30.11 million yuan
Shunxin Agriculture's branch Pengcheng Food needs to transfer out value-added tax input tax of 30.11 million yuan in a tax self-inspection. On September 28, Shunxin Agriculture announced that its branch Pengcheng Food received a Tax Matters Notice from the tax authorities, requiring a self-inspection of tax-related matters from January 1, 2021 to December 31, 2025. After self-inspection, the company needs to transfer out value-added tax input tax of 30.11 million yuan. Since there are excess input tax credits on the books that can be fully offset, no back taxes are involved, and this adjustment will be recorded in the 2026 profit and loss. This adjustment is expected to reduce the company's 2026 net profit attributable to the parent company, with the specific impact subject to the 2026 audited financial statements. In the first half of 2026, Shunxin Agriculture achieved revenue of 3.804 billion yuan and net profit attributable to the parent company of 40.35 million yuan.
000860.CS · Regulation · Negative Tax self-inspection requires Pengcheng Food to transfer out 30.11 million yuan of input VAT, expected to reduce 2026 net profit.
Marie Brizard Wine & Spirits H1 2026 EBITDA Falls to €4.9m as Net Profit Slips to €2.1m
Marie Brizard Wine & Spirits reported H1 2026 EBITDA of €4.9m, down €0.9m from €5.9m in H1 2025, with net profit Group share of €2.1m, down €0.5m, as the group navigated a globally challenging market environment. Net revenues excluding excise duties came to €84.0m, down 4.4% at constant scope and exchange rates and down 3.0% as reported, while the gross margin ratio held virtually unchanged at 38.8% versus 38.9%. Within that total, the France Cluster posted revenues of €35.6m, up 1.2%, with a particularly pronounced second-quarter upturn of 6% to €18.6m, and the International Cluster posted revenues of €48.4m, down 8.3% at constant scope and exchange rates and down 5.8% as reported. By cluster, France EBITDA was €3.7m, close to the prior-year figure, International EBITDA fell €1.2m to €3.4m on declining Lithuanian exports to Ukraine and weaker Bulgarian Industrial Services orders, and holding company EBITDA improved by €0.4m. Net cash stood at €46.8m at 30 June 2026, up from €45.3m at 31 December 2025, with gross borrowings stable at €6.7m, and the group said it expects prevailing uncertainty and contrasting trends to continue for the rest of the year, with positive momentum in France offset by an expected decline in Eastern Europe.
Diageo CEO Dave Lewis Hires Ex-Tesco Colleague Joanne Wilson as CFO
Sir Dave Lewis has hired his former Tesco colleague Joanne Wilson as Diageo's next chief financial officer, part of the chief executive's push to turn around the Guinness maker. Wilson, currently CFO at the advertising group WPP, will join Diageo in 2027 and will sit on its board and executive committee, replacing Nik Jhangiani, who is leaving after a mutual decision with the board. Lewis, who started as Diageo's chief executive in January and earned the nickname "Drastic Dave" for his cost-cutting, is seeking $1bn (£750m) in savings to overhaul major brands including Captain Morgan and Smirnoff, where sales have declined. The plan also doubles production of Guinness after sales of the stout rose 12pc in the 12 months to June, and pivots Diageo towards more cost-conscious drinkers. Diageo has already cut 2,000 jobs in the past 12 months; its revenue fell 3pc to $19.6bn last year, while operating profit plunged 27pc to $3.2bn.
Diageo Names WPP's Joanne Wilson as CFO Starting in 2027
Diageo has named Joanne Wilson as its new chief financial officer, with Wilson joining the board and executive committee some time in 2027. Wilson, currently the CFO of WPP, replaces Nik Jhangiani, who joined Diageo as CFO in May 2024 and was briefly interim CEO before Dave Lewis took over the top role this year. The appointment comes as CEO Dave Lewis drives a major restructuring at Diageo, marked by senior executive departures and layoffs. Last month, Lewis announced a $1B cost-cutting plan to help the world's largest spirits maker navigate sustained weak growth. Wilson and Lewis have both previously worked together at Tesco.
Diageo names WPP finance chief Joanne Wilson as new CFO
Diageo is finalising the appointment of Joanne Wilson, currently finance chief of the London-listed marketing services group WPP, as its new chief financial officer, Sky News has learnt. An announcement could come as soon as Wednesday morning. If confirmed, the move reunites Wilson with Diageo chief executive Sir Dave Lewis, her former colleague at Tesco, and marks the latest stage of a transformation of Diageo's leadership team by Sir Dave, who took over as chief executive of the Guinness and Johnnie Walker producer earlier this year. Wilson, who joined WPP just three-and-a-half years ago, spent more than a decade at Britain's biggest grocery retailer, including a stint as finance chief of dunnhumby, Tesco's data analytics division. At Diageo, which is also in the foothills of a significant transformation programme, she will replace Nik Jhangiani, who had been tipped as a contender to take the FTSE-100 drinks group's top job on a permanent basis and is expected to leave the company. Sir Dave announced last month that Diageo would invest heavily in a number of mass-market brands, including Smirnoff and Captain Morgan, with capital freed up by a cost-cutting exercise which will ultimately lead to a significantly reduced workforce. It was unclear on Tuesday night whether WPP had had time to prepare for the appointment of an interim finance chief, or how long a notice period Wilson would be held to at the marketing services group. Diageo declined to comment, while WPP has been contacted for comment.
DGE.LSE · Capital · Neutral Diageo is finalising appointment of Joanne Wilson as new CFO, replacing Nik Jhangiani, amid leadership transformation
WPP.LSE · Capital · Negative WPP's finance chief Joanne Wilson is leaving to become Diageo CFO, leaving WPP to potentially appoint an interim finance chief
Sazerac to acquire Germany's Berentzen Group for 5.55 euros per share
Sazerac, the owner of Fireball, has agreed to acquire Germany-based spirits producer Berentzen Group, paying 5.55 euros per share, or about $6.31, a price 68% above the company's three-month weighted average prior to Sept. 16. The deal, subject to shareholder approval, is expected to close at the end of the year, after which Sazerac will delist Berentzen from the Frankfurt Stock Exchange. Berentzen, one of Germany's oldest spirit producers with a more than 250-year history, operates in more than 60 countries and is best known for brands including Berentzen schnapps and Puschkin vodka, along with several nonalcoholic beverage and juice brands. Sazerac CEO Jake Wenz said the partnership will let the Buffalo Trace maker broaden its European manufacturing and distribution with greater flexibility and pace, while Berentzen's executive board members Oliver Schwegmann and Ralf Bruehoefner said the combination will help the German company pursue its growth strategy in a challenging European market. The transaction is Sazerac's second deal in Europe in the past year, following last month's purchase of U.K.-based canned cocktail brand Au Vodka.
ST Yedao placed under investigation by the CSRC for suspected information disclosure violations
After market close on September 21, ST Yedao announced that it had received a Notice of Case Filing from the China Securities Regulatory Commission that day. Because the company is suspected of violating laws and regulations on information disclosure, the CSRC has decided to file a case against it. The company said all business activities are currently proceeding normally, and during the investigation it will actively cooperate and fulfil its information disclosure obligations. ST Yedao's shares have been subject to other risk warnings since May 6, 2025, because Zhong Shen Asia Pacific Certified Public Accountants issued an adverse opinion on the company's 2024 internal control audit report. For the company's 2025 internal control, Zhong Shen Asia Pacific issued an unqualified audit report with an emphasis-of-matter paragraph. The emphasis-of-matter paragraph relates to incomplete documents for the transfer of title to baijiu products sold in 2020 and 2021, and insufficient basis for recognising the related revenue, involving total revenue of 30.5025 million yuan. The company disclosed an accounting error correction and retrospective adjustment announcement on April 30, 2026. In terms of performance, in the first half of 2026 the company achieved operating revenue of 173 million yuan, up 94.00 percent year on year. Net profit attributable to shareholders of the listed company was negative 7.538 million yuan, compared with negative 15.765 million yuan in the same period last year, with the loss narrowing significantly.
600238.CG · Regulation · Negative CSRC filed a case against ST Yedao for suspected information disclosure violations, a regulatory/legal action against the company.
ST Yedao under CSRC investigation for suspected information disclosure violations
ST Yedao announced on the evening of September 21 that it had received a case filing notice from the China Securities Regulatory Commission that day. The regulator decided to open an investigation into the company over suspected illegal information disclosure. The company said all business activities are currently operating normally, and it will actively cooperate with the investigation and fulfil its information disclosure obligations in accordance with regulations. ST Yedao's main products include Lugui wine, Haiwang wine and sauce-flavoured baijiu, and it has also expanded into coconut juice and tropical fruit drinks. In the first half of 2026, the company reported revenue of 173 million yuan and a net loss of 7.54 million yuan. Net profit was negative every year from 2021 to 2025, with combined losses over the five years of about 493 million yuan. On July 30, 2026, the Shanghai Stock Exchange agreed to lift the delisting risk warning on the company's shares, while other risk warnings remain in place. As of the close on September 21, ST Yedao's share price was 4.68 yuan per share, giving it a total market value of 2.098 billion yuan.
Diageo whisky supplies face disruption as Cameronbridge workers strike
More than 100 workers at Diageo's Cameronbridge distillery, Europe's largest grain distillery, will walk out from Sept 28 for three weeks in a dispute over plans to cut 10 jobs at the site, threatening supplies of Johnnie Walker, Bell's and Haig whisky. The action could halt production at the factory, which makes the grain spirit used in blends for some of Diageo's best-known whiskies, and marks the first bout of strike action since Sir Dave Lewis announced a sweeping cost-cutting drive at the drinks giant. Sir Dave, nicknamed "Drastic Dave" for his aggressive approach to cutting costs, took over as Diageo's chief executive in January and is targeting $1bn (£750m) of savings; Diageo employed 27,938 people at the end of June, down by almost 2,000 from a year earlier, while it spent $514m on redundancy payments. Unite, the union overseeing the strike, accused Diageo of failing to consult workers properly, with general secretary Sharon Graham saying there is no justification for slashing hundreds of jobs across its operations when it is raking in hundreds of millions of profit. Diageo said the Cameronbridge dispute was limited to 10 roles, with eight people affected because two of the positions are vacant, and that the cuts were necessary because it had reduced production at the distillery and expected to maintain lower levels of grain distillation over the next few years.
DGE.LSE · Supply · Negative Strike at Cameronbridge distillery threatens to halt production of grain spirit used in Johnnie Walker, Bell's and Haig blends, disrupting Diageo's whisky supply.
Berentzen Confirms Takeover Talks with US Spirits Giant Sazerac
German distiller Berentzen-Gruppe has confirmed it is in talks over a potential sale of the business to US spirits giant Sazerac. In a stock-exchange filing on 16 September, the Frankfurt-listed company said it was negotiating a "voluntary public takeover offer" for all its outstanding shares, and that it would keep the capital markets and the public informed in line with legal requirements. A spokesperson for Sazerac, which owns Buffalo Trace, Southern Comfort and Fireball, declined to comment on market speculation or specific acquisition opportunities. Based in Haselünne in north-west Germany, Berentzen owns brands including Puschkin vodka, Tres Países rum and its namesake fruit-based spirits, and also markets soft drinks. In 2025 the company booked a 10.4% fall in revenue to €162.9m, or $186.8m, while EBIT dropped 19.8% to €8.5m; in the first half of this year revenue fell 11.1% to €71m and EBIT slumped 82.4% to €0.6m, which CEO Oliver Schwegmann attributed to the end of a private-label Bourbon supply contract, ongoing weakness in the German market and soft consumer spending. The move marks the latest M&A target for Sazerac, which in August signed a deal to acquire UK spirits business Au Vodka, completed this week, after fellow US spirits group Brown-Forman rejected an unsolicited takeover proposal from Sazerac in July.
BEZ.XETRA · Capital · Positive Berentzen confirmed it is in talks over a voluntary public takeover offer for all its shares from Sazerac.
Sazerac Company · Capital · Positive Sazerac is negotiating a takeover of Berentzen, adding to its M&A targets after Au Vodka and the rejected Brown-Forman bid.
BF-B · Competition · Neutral Mentioned only as context: Brown-Forman rejected an unsolicited takeover proposal from Sazerac in July, showing Sazerac's acquisitive streak.
Unite to strike at Diageo's Cameronbridge distillery from September 28
Unite members at Diageo's Cameronbridge distillery in Leven, Fife, will walk out on Monday September 28 in a dispute over jobs, with strike action due to last until just before 6am on Thursday October 15. Different groups of workers, including distillation and process controllers, distillery and machine operators, technicians, quality control analysts, process chemists and engineers, will strike on different days in a series of targeted protests. Unite believes the action will halt production at the site, which it describes as Europe's largest grain distillery and which produces millions of litres of spirit each year. The union says Diageo is to cut hundreds of jobs across Scotland as part of a global restructuring process, with dozens of roles at Cameronbridge potentially lost. Unite general secretary Sharon Graham said there is no justification for slashing hundreds of jobs while the company is raking in hundreds of millions of profit, and deputy Scottish secretary Dougie Maguire warned that if Diageo fails to halt the proposals, strikes will bring production to a standstill. Diageo has been contacted for comment.
DGE.LSE · Supply · Negative Strike action at Cameronbridge distillery is expected to halt production at Europe's largest grain distillery, disrupting Diageo's supply.
Constellation Brands Redeems US$600,000,000 4.350% Senior Notes Due 2027
Constellation Brands has redeemed in full its US$600,000,000 4.350% Senior Notes due 2027, with the cash redemption price calculated under the supplemental indenture terms and communicated to noteholders via the trustee. The early retirement of the fixed-rate debt modestly reinforces the balance sheet story but does not materially change near-term demand risk in the beer business, especially around Hispanic consumer spending. The redemption sits alongside Constellation's ongoing capital return program, including the affirmed US$1.0300 quarterly dividend announced in June 2026 and ongoing buybacks. The company's narrative projects $9.5 billion in revenue and $2.1 billion in earnings by 2029, requiring 1.7% yearly revenue growth and about a $0.3 billion earnings increase from $1.8 billion today, while the most bullish analysts once expected about US$9.9 billion in revenue and US$2.2 billion in earnings. Tariffs, aluminum cost pressures, and softer beer volume growth remain the key risks to that outlook.
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