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.
Yantai Changyu Pioneer Wine Co LtdFirst-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.
