$银基集团(00886)$ said it expects to return to the black in the next six months amid the traditional peak sales period for liquor in the mainland.
The mainland liquor distributor on Friday reported a consolidated net loss of HK$131.89 million during the six months ended September 30. The loss excludes the HK$163.9 million gain from write-back of impairment.
The group, which in the past sold mostly high-end products, said it will now focus on middle- and low-end items, with prices ranging from 30 yuan (HK$37.82) to 100 yuan per bottle by expanding its e-commerce channels.
Chairman and chief executive officer Liang Guoxing said it will open online shops on instant messaging platform WeChat next year. Also, it will cooperate with Shenzhen Shunfeng Commercial to utilize Shunfeng Heike, an online and offline e-commerce platform of SF Express for promotion and sales. The firm revealed sales generated from e-commerce accounted for 40 percent of total revenue and 10 percent of gross profit margin for the interim fiscal period.
``The worst time for the baijiu market has passed after more than two years of market adjustment,'' Liang said.
Baijiu mass and commercial consumption has gradually replaced government consumption, he said.
