On September 29, Shede Spirits Co., Ltd. (hereinafter referred to as "Shede Spirits") convened its second extraordinary shareholders' meeting of 2026, at which proposals related to the board of directors' election were reviewed and approved, resulting in the formation of the twelfth board of directors.
At the first meeting of the newly constituted board held on the same day, Tang Hui was elected chairman and also appointed as president. With this, under the joint facilitation of its two major shareholders — Fosun and the Shehong Municipal Government — Shede Spirits has successfully completed its board transition. The new leadership team exhibits pronounced professional characteristics, sending a signal that strategic stability and innovative development are being pursued in tandem.
The New Team Makes Its Official Debut with Distinct Professional Strengths
According to the announcement, the extraordinary shareholders' meeting reviewed and approved the "Proposal on the Election of Directors" and the "Proposal on the Election of Independent Directors," electing the members of Shede Spirits' twelfth board of directors. The new board members include non-independent directors Chen Chunlin, Chen Yihang, Zhou Bo, Tang Hui, Huang Zhen, and Tan Xiangyang, as well as independent directors Liu Haiying, Yu Zhen, Xie Youping, and Ye Weiling. In addition, Shede Spirits held the second plenary session of its third employee representative congress on September 28 to elect an employee representative director, with Liu Qiang elected. Together, these eleven directors constitute Shede Spirits' twelfth board of directors.
Following the shareholders' meeting, the new board convened its first meeting on the same day, at which Tang Hui was elected chairman of Shede Spirits. Upon review and approval by the board, Tang Hui was reappointed as president, Li Anhua and Luo Chao were appointed vice presidents, Zhong Lingyao was reappointed chief financial officer, and Zhang Wei was reappointed board secretary. With this, the formation of Shede Spirits' new board of directors and senior management team is complete.
Public information shows that Tang Hui is 46 years old and has 20 years of experience within the Procter & Gamble system, having long served as a senior executive in P&G Greater China, possessing solid experience in advanced corporate management and a broad international perspective. Tang Hui has served as president of Shede Spirits since December 2023, is familiar with the dynamics and cyclical challenges of the baijiu industry, and is well-versed in Shede Spirits' strategy and corporate governance system. At several important meetings of Shede Spirits, Tang Hui emphasized taking the "four forces improvement" — product strength, brand strength, channel strength, and organizational strength — as the primary focus of management enhancement in operational work, which is widely regarded both internally and externally as "a key measure to fundamentally improve the company's operational quality and competitive capability." This is crucial for Shede Spirits as it navigates the industry's adjustment cycle.
It is understood that at this board meeting, Tang Hui, on behalf of the current board, expressed gratitude for the contributions made by the previous board and former chairman Pu Jizhou, and called on the current board and senior management team to strive vigorously and work together for the company's long-term healthy development. Ouyang Qianli, a researcher in the liquor industry, stated that Tang Hui's election as chairman this time helps maintain the continuity of the company's strategy and business decision-making. The new team is deeply familiar with the rules of the baijiu industry and corporate management, and will drive Shede Spirits' corporate governance and operations to continue moving toward greater professionalism. The new board and senior management team are all highly capable managers with deep professional backgrounds who are in the prime of their careers, and are expected to inject new vitality into Shede Spirits' development with keener market insights and innovative thinking.
Shareholder Empowerment Ensures Governance Stability; Full Commitment to Company Operations
It is understood that Shede Spirits' current board transition has received unanimous recognition from its two major shareholders, Fosun and the Shehong Municipal Government, who regard it as an orderly arrangement focused on the company's long-term development, and both parties will continue to give firm support to Shede Spirits' development as always. Xiao Zhuqing, a liquor industry commentator, believes that in the new board of directors, the number of seats held by representatives of Fosun and the Shehong Municipal Government remains consistent with the previous board, continuing the "Fosun + Shehong Municipal Government" dual-line appointment pattern since Fosun took control, conveying a clear signal of strategic continuity and governance structure stability. The Shehong Municipal Government recommended Tan Xiangyang from the fiscal system to join the board for the first time, and upon review and approval by the board, he was appointed as a member of the board's strategy committee, which can further strengthen the company's government-enterprise coordination capability.
Overall, Shede Spirits' new board combines shareholder synergy and professional talent backgrounds, with a robust governance structure and clear governance direction, providing strong organizational safeguards for the company in coping with industry cyclical fluctuations. It is understood that the new leadership team at Shede Spirits will, while maintaining the company's overall strategic stability, continuously enhance the company's governance capability and innovation capability through systematic operational measures, leading the company through the baijiu industry cycle and maintaining long-term healthy development. At the board meeting held that day, the remarks of the new chairman Tang Hui conveyed Shede Spirits' determination to overcome cyclical challenges and forge ahead. He stated that every round of cyclical change gives rise to new development opportunities. The company will face current practical challenges head-on, make every effort to operate the company well, continuously create value for all stakeholders including shareholders, employees, and industry chain partners, and firmly fulfill its corporate social responsibilities.
Currently, the baijiu industry remains in a period of deep adjustment, with industry consolidation accelerating and structural opportunities emerging. As Shede Spirits' long-term value continues to manifest, under the leadership of the new board and management, Shede Spirits is expected to further improve operational efficiency and quality through more professional governance, consolidate its quality foundation and channel ecosystem, and open up new development space amid marginal industry improvement.