Steadfastly Implements High-Quality Development Strategies and Optimize Channel Structures with a Focus on Global Market Expansion

HONG KONG SAR – Media OutReach Neswire – 21 March 2025 – ZJLD Group Inc. (“ZJLD” or the “Company”, together with the Company’s subsidiaries, collectively the “Group”) (SEHK stock code: 06979. HK), an outstanding representative in the Chinese baijiu industry and the first baijiu company listed in Hong Kong Stock Exchange, is pleased to announce its annual results for the fiscal year ended December 31, 2024 (“Fiscal Year 2024”, “FY2024” or the “Year”).

The key financial and business highlights are as follows:

	FY 2024 (for the year ended December 31, 2024) (RMB’000)	FY 2023 (for the year ended December 31, 2023) (RMB’000)	Increased by
Revenue	7,066,784	7,030,467	0.5%
Gross profit	4,143,040	4,079,948	1.5%
Gross profit margin	58.6%	58.0%	0.6 percentage points
Net cash generated from/(used in) operating activities	781,003	361,226	116.3%
Adjusted net profit (non-IFRS measure)	1,676,275	1,622,602	3.3%
Adjusted net profit margin (non-IFRS measure)	23.7%	23.1%	0.6 percentage points

• During the Year, the Group experienced a significant increase in net cash flow from operating activities, demonstrating a stable upward trend that reflects financial health and long-term resilience. In 2022, the Company reported negative net operating cash flow; however, with continuous optimization of business structures and successful implementation of market strategies, net operating cash flow rose to approximately RMB360 million in 2023 and further escalated to about RMB780 million in 2024. This remarkable leap signifies the Company’s steadily improving financial framework and robust operations, showcasing operational resilience and financial confidence, while also reflecting the market’s strong trust in its products and business model.

• As the primary growth engine of the Group, the flagship brand, Zhenjiu, has maintained its position as the fourth-largest sauce-aroma baijiu brand in China for two consecutive years (2023 and 2024)[1]. Additionally, the influence and market positioning of its premium and above products have been further solidified. Since the second quarter of 2024, the demand in the baijiu consumption market has remained subdued. To proactively address intense competition in traditional distribution channels, Zhenjiu has steadfastly adhered to its “Dual-Channel Growth Strategy,” consolidating traditional distributor networks while actively exploring emerging customers characterized by high social engagement and frequent baijiu consumption. Despite facing cyclical industry adjustments and market pressures during the Year, the sales revenue of Zhenjiu’s premium baijiu business division achieved impressive double-digit growth. Thanks to that, the Zhenjiu brand recorded a total revenue of approximately RMB4,479.7 million, accounting for approximately 63.4% of the Group’s total revenue.

• The Board of Directors has proposed a final dividend of HKD0.21 per share for the year ended December 31, 2024 (2023: HKD0.18 per ordinary share), amounting to a total of HKD711.61 million, reflecting a substantial increase of 16.7% compared to the Fiscal Year 2023.

Navigating Multiple Challenges Amid Industry Adjustments: Timely Strategic Adjustments for Breakthrough Opportunities

In 2024, the baijiu industry experienced a sustained decline in consumer demand starting from the second quarter, with sluggish market dynamics. The Group swiftly assessed risks and proactively implemented measures to control inventory and stabilize pricing, ensuring healthy channel stock levels while balancing growth momentum. By focusing on four core pillars – brand, base liquor, distribution channels, and team capabilities – the Group reinforced its foundation, fostered continuous innovation, and actively adjusted strategies to navigate cyclical industry changes while exploring and seizing potential growth opportunities.

The flagship brand, Zhenjiu, capitalized on its rapidly rising brand influence to develop a series of well-defined expansion initiatives, such as actively exploring broader consumption scenarios for baijiu beyond traditional business contexts. The brand also pursued cross-sector collaborations, aiming to create diversified consumption scenarios and growth drivers. Additionally, the Group is committed to cultivating corporate client resources to expand orders from business-driven demand. Through the comprehensive implementation of Zhenjiu’s “Dual-Channel Growth Strategy,” the Group expanded its presence in emerging sales channels and among premium clientele, further enhancing the distributor network construction and effectively improving overall market competitiveness.

During the Year, Zhenjiu’s signature high-end tasting events and distillery tours were continuously elevated, strengthening the sales framework for its sealed storage baijiu while optimizing the allocation of marketing resources and costs. The Group also proactively reduced the proportion of certain mid-range and below products with lower-unit prices and profit margins sold via e-commerce platforms. For the fiscal year 2024, the Group reported a gross profit of approximately RMB4,143.0 million (FY2023: RMB 4,079.9 million), with a stable gross profit margin of 58.6%, marking an increase for four consecutive years.

Commitment to High-Quality Sustainable Development: Continuous Optimization of Distribution Network Management with a Focus on Global Expansion

The Group primarily distributes its baijiu products through a nationwide network of distributors and its direct sales team. In 2024, the Group reinforced channel monitoring by using digital tools and innovatively adjusted channel policies for premium and deluxe product series, thereby optimizing channel order and price stability. Simultaneously, by preferentially allocating resources to premium distributors, the Group further deepened its mutually beneficial partnerships with distributor partners. As a result, distributor sales revenue for Fiscal Year 2024 increased by 2.1% year-on-year to approximately RMB6,355.7 million (FY2023: RMB6,227.3 million), accounting for 89.9% of the Group’s total revenue.

Looking ahead to 2025, despite ongoing industry challenges, the Group remains steadfast in its core strategies of high-quality and sustainable development with a focus on brand building, product quality enhancement, and channel innovation. The Group plans to further expand diverse consumption scenarios, such as banquets, and explore segmented sales channels with high baijiu purchasing potential. At the same time, efforts will continue to advance the dual-channel growth model, optimize the distributor network structure, and upgrade experiential marketing initiatives, including high-end tasting events and distillery tours. This will be complemented by diversified promotional strategies, including short videos and landmark advertisements, to enhance brand outreach. The Group will also continue to invest in developing core premium products to meet varying consumer needs and consolidate its market position.

Four Major Brands: Three-Tier Growth Engines with Clear Strategic Positioning

The Group’s four major brands have gradually formed a three-tier growth engine with a clear and distinct strategic positioning. The flagship brand, Zhenjiu, primarily operates in the premium and above segments of the sauce-aroma baijiu market, serving as the Group’s key growth engine, demonstrating strong performance nationwide while leveraging the market potential of sauce-aroma baijiu. Li Du, as the second growth engine, specializes in premium and above price ranges for mixed-aroma baijiu, achieving rapid growth and further enhancing its development by increasing brand recognition and expanding its nationwide sales network. Xiang Jiao and Kai Kou Xiao stand as regionally dominant brands in Hunan, significantly contributing to the Company’s long-term stable growth. The Group’s product portfolio encompasses three aroma profiles (i.e., sauce-aroma, mixed-aroma, and strong-aroma) across diverse price ranges, primarily targeting premium and above baijiu markets to maximize the satisfaction of the diverse preferences of consumers in different regions. These three growth engines complement one another and collectively propel the Group’s sustainable and high-quality development.

ZJLD Group is actively expanding its global brand influence and making solid strides in its internationalization efforts. In April 2024, the Group successfully hosted the “The First Anniversary of ZJLD Listing cum 2024 International Development Trend of the National Treasure Li Du” seminar in Hong Kong and Macau, collaborating with 50 leading partners to explore the potential of the Li Du brand globally. In May, Li Du Song Banquet made a dazzling debut in Kyoto, Japan, marking its global premiere. This feast of Song Dynasty aesthetics signifies Li Du’s formal entry onto the international stage and establishes a vital platform for promoting exchanges between the Chinese and Japanese liquor industries. These initiatives have laid a solid foundation for the Group’s global expansion, showcasing its determination and confidence in realizing its international ambitions.

Mr. Wu Xiangdong, Founder and Chairman of ZJLD Group, stated, “As a private enterprise with warmth and a strong sense of social responsibility, crafting high-quality baijiu is the “core duty” of ZJLD Group. At the same time, our “key mission” is to provide consumers with exceptional baijiu while creating better lives for our partners and employees. Throughout our journey of corporate development, we have consistently upheld the principle of giving back to society and contributing to regional economic prosperity. Since 2009, the number of employment positions provided by the Group has increased 40-fold and tax contributions increased by 340-fold.

The year 2025 marks a significant milestone for the Group, as we celebrate the 50^th anniversary of Zhenjiu and solidify our vision of becoming a world-class baijiu enterprise. We will launch meticulously crafted affiliated products, strengthen our brand presence, and enhance our influence while comprehensively optimizing all aspects of production, management, and sales. The expectations of our consumers, the trust of our shareholders and partners, and the confidence placed in us by society are the driving forces behind our progress. With continuous innovation and a forward-looking approach, we aim to infuse new vitality into the baijiu industry, create greater value for our shareholders, and compose a new chapter of growth and development.”

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About ZJLD Group Inc.

Zhen Jiu was established in 1975 in Zunyi, Kweichow, China’s primary production area of sauce-aroma baijiu. In 1988, it was honored with the National Quality Award at the 5th National Wine Appreciation Conference. In the same year, it was announced by the Protocol Department of the Ministry of Foreign Affairs, the Communication Department of the Ministry of Economy and Trade, and the Great Hall of the People Management Bureau to become one of the two sauce-aroma baijiu served at state banquets. It is also known as one of the “Three Representative Baijiu Brands in Kweichow”.

ZJLD Group Inc. is a leading baijiu group in China that is devoted to offering premium baijiu products, including sauce-aroma, mixed-aroma, and strong-aroma. According to Frost & Sullivan statistics, the flagship brand Zhenjiu has maintained its position for two consecutive years (2023 and 2024) as the fourth largest sauce-aroma baijiu brand in China and the third largest in Guizhou Province, based on revenue. The Company operates four baijiu brands in China, including two national baijiu, Zhen Jiu and Li Du, and two regional brands, Xiangjiao and Kaikouxiao. ZJLD prides itself on inheriting the time-honored baijiu-brewing techniques and reinvigorating them to develop iconic products. It strives to create a wide variety of aromatic and mellow baijiu products to meet the diverse preferences of consumers, seize broader market opportunities, and promote traditional Chinese baijiu culture.

HONG KONG SAR – Media OutReach Neswire – 21 March 2025 – Hong Kong has unveiled its pioneering Low-altitude Economy (LAE) Regulatory Sandbox, marking the official start of pilot projects to promote development of the LAE with a view to creating new business opportunities, strengthening city management and bringing a new “smart city” experience to the public.

Speaking at the launch event yesterday (March 21), Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, pointed out that the LAE not only gives rise to a series of industries, but also brings a very wide scope of application scenarios with a tremendous potential for development.

“The LAE is one of our nation’s strategic emerging industries, as well as an example in exploring new quality productive forces,” Mr Lee said, adding that Hong Kong is dedicated to developing into an international innovation and technology centre and an international hub for high-calibre talent.

Among applications from 72 applicants, 38 projects will be implemented under the first batch of pilot projects to be rolled out starting from April 2025. They come from enterprises, universities/research institutes, public utilities and government departments. The projects cover a wide range of fields and application scenarios, including emergency and rescue, logistics and distribution, inspection and safety maintenance, surveillance and low-altitude infrastructure.

Secretary for Transport and Logistics of the HKSAR Government, Mable Chan, said the trial of the sandbox projects would help the Government accumulate experience and data in order to enable the Government and relevant departments to map out and devise a comprehensive infrastructure support for the execution of various LAE activities.

“We hope that with all these projects launching, we would incorporate innovation and technology into our daily lives,” Ms Chan said.

She added that the Government would introduce a special provision in the relevant legislation enabling the Director-General of Civil Aviation to allow trials of even more sophisticated and heavier low-altitude equipment, so as to facilitate trials of state-of-the-art models, including those models which can carry passengers.

Promoting Regulatory Sandbox pilot projects is a major task of the interdepartmental Working Group on Developing Low-altitude Economy set up in 2024 to boost development of the LAE.

At the launch event, a number of organisations of the pilot projects set up booths to introduce the application scenarios and features of their projects.Hashtag: #hongkong #brandhongkong #asiasworldcity #innovation #technology

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Nila offers guests a rare taste of Indian coastal cuisine, bringing unique flavours and dining experiences to Thailand

BANGKOK, THAILAND – Media OutReach Newswire – 21 March 2025 – ONYX Hospitality Group, a prominent management company in Southeast Asia specialising in hotels and resorts, serviced apartments and luxury residences, is delighted to celebrate the first anniversary of Nila, a Coastal Indian restaurant on the 4th floor of Amari Bangkok. This premium property offers exceptional hospitality and world-class amenities, providing an unparalleled experience in the heart of the city.

Experience the rich, vibrant flavours of Coastal Indian cuisine, a culinary treasure from India’s coastal regions, beautifully infused with Portuguese influences for a distinctive and exquisite taste. In celebration of Nila‘s first anniversary, guests are invited to indulge in an 8-course Coastal Indian Tasting Menu, available with both vegetarian and non-vegetarian options, and offered throughout the year.

ONYX Hospitality Group is driven by its vision to be “The Best Medium-Sized Hospitality Management Company in Southeast Asia.” Beyond accommodations, ONYX Hospitality Group also excels in spa services and the food and beverage industry. Nila is one of the highlights under ONYX Hospitality Group’s management, an Indian restaurant inspired by India’s Coastal culinary heritage. Nila showcases a culinary heritage deeply rooted in the cultural richness passed down from ancient artifact merchants, spice traders, and herbalists of Goa and the Malabar Coast of India.

Every aspect of Nila is a tribute to the land it represents—from its name, derived from Malayalam, meaning “blue like the sea,” to its décor, which evokes the warmth of a Goan home influenced by Portuguese heritage. The food and beverage menu stays true to Indian authenticity, featuring dishes crafted with Kerala’s fragrant coconut. A standout is the spicy seafood curry from Goa—a dish that blends contemporary culinary techniques with the adventurous spirit of ancient traders, delivering a unique identity and a delightful experience in every bite.

To celebrate its first anniversary, Nila invites guests to explore a culinary journey, indulging in the rich flavours of Indian coastal cuisine with a thoughtfully curated menu. The experience begins with three exquisite appetisers, including Phal Dhokla, a beloved dish from India’s west coast, particularly Gujarat. Made from soft, fluffy lentil flour, this delicacy is served with tropical fruits, sweet yogurt, and red chili jam, offering a harmonious balance of sweet, sour, and spicy in every bite.

Next on the appetiser selection is Wada Bao, Mumbai’s most sought-after street food. This crispy, fried, spicy mashed potato is wrapped in soft steamed dough, delivering a perfect balance of crunch and warmth in every bite. Another highlight is the Khara Puff, a South Indian take on the classic puff pastry. Made with soft, fine dough and filled with a spiced vegetable mixture, it is perfectly complemented by a tangy cranberry chutney, delivering a well-balanced fusion of flavours and spices.

Another standout appetiser is Peri-Peri Jheenga, a Goan-style prawn marinated in fiery peri-peri chili peppers. Grilled over an open flame to perfection, it is served with smoked tomatoes and sweet chili chutney, creating an intense, tangy flavour. The peri-peri chili peppers, introduced to India by the Portuguese from Africa, give this dish a unique fusion of Goan and Portuguese influences.

Next comes Kozhi Chuttathu, a traditional Kerala dish featuring chicken drumsticks marinated in yogurt, red chilli, and Malabar spices. The chicken is then grilled and smoked to perfection, and served with pickled beetroot, shallots, and a refreshing mint sauce, offering a smoky, spicy, and aromatic flavour.

Next is the Truffle Madras Curry Chop, featuring grilled lamb chops topped with a rich Madras curry infused with the aromatic essence of truffle oil. Served alongside a tangy tomato sauce, this appetsier offers the freshness and aromatic flavours of Chennai with a touch of elegance.

For the main course, Machher Jhol offers a taste of Bengali tradition, where fish is an essential element. This classic Bengali sea bass curry is infused with bold, spicy flavours and is served with a velvety pumpkin puree seasoned in the aromatic panchphoran (a blend of five spices). The dish provides a comforting and aromatic experience, making each bite a satisfying journey.

Next, enjoy the Chicken Ghee Roast, a signature main course from Bangalore, Karnataka. Tender chicken is cooked in ghee and a flavourful red chilli sauce, creating a rich, spicy, and aromatic taste. Served with Kal Dosa, a crispy flatbread, this dish highlights the region’s love for ghee-roasted delicacies, offering a rich, spicy, and aromatic coastal flavour.

Mutton lovers will be in for a treat with Mutton Perattu, a rich Kerala-style mutton curry served with soft, flaky parotta. Packed with a generous amount of spices, this dish delivers a deep, aromatic flavour that is both hearty and impressive.

Filter Kapi Misu is a delightful fusion dessert that combines the bold, outstandingly rich flavours of Coorg coffee with the creamy smoothness of Tiramisu. This classic South Indian twist on the traditional dessert offers a perfect ending to a delicious meal.

For vegetarians, Nila has thoughtfully adapted its menu with plant-based ingredients such as beans, tofu, and mushrooms. Highlights include Wild Mushroom Ularthiyayhu, where wild mushrooms are stir-fried with Malabar spices, creating an aromatic and rich dish. The Tofu Jhol is a traditional Bengali-style spicy curry paired with panchphoran-tempered pumpkin mash. Another standout is Soy Perattu, a soy protein curry infused with aromatic spices, served with soft parotta.

Additionally, Nila offers a selection of signature cocktails inspired by coastal Indian ingredients and spirits. These drinks are crafted to provide a delightful drinking experience, allowing guests to enjoy their flavours, aromas, and beautiful presentation. The beverages at Nila range from refreshing, vibrant concoctions reminiscent of a bright seaside escape to bold, intense creations featuring cognac as the main ingredient, blended with traditional recipes—along with many more exquisite options.

Nila is more than just a restaurant; it’s a legacy that brings the rich recipes and delights of India’s coastal cities to life. The aromatic spices and contemporary cooking in every dish transport guests to a distant land, evoking the warmth of the sunshine and the refreshing waves of the blue sea. It’s an experience unique to Nila.

Indulge in Coastal Indian cuisine at Nila restaurant, located on the 4th floor of Amari Bangkok Hotel, every day from noon to midnight. For more information or to make a reservation, please call 0 2653 9000.

The 8-course Coastal Indian Tasting Menu starts from THB 1600 ++ per person (approximately USD 56).

Combine a stay at Amari Bangkok with an exceptional Coastal Indian dining experience at Nila through the exclusive Nila package, starting from 5,600 THB per night (approximately USD 165), based on two sharing a Deluxe Room. Also included is daily breakfast at Amaya Food Gallery and one complimentary Indian lunch or dinner set at ‘NILA’ restaurant per person per stay. Minimum two-night stay. For more information and to book: www.amari.com/bangkok/special-offers/hotel-packages/nila-package

For more information on Nila: www.amari.com/bangkok/dine/nila
For more information on Amari Bangkok: www.amari.com/bangkok

Hashtag: #ONYX

The issuer is solely responsible for the content of this announcement.