The original "Southwest Beer King" jointly increases holdings in this Sichuan stock! The shareholding market value exceeds 90 million yuan!

In the southwest food and beverage circle, the name Zeng Qingrong was once known to all. Lan Jian Beer, Glacier Mineral Water, Weiyi Soy Milk—these renowned southwest beer beverages all bear some relation to Zeng Qingrong. He was even once hailed by the market as the “Southwest Beer King.”

In 2007, with Snow Beer acquiring 100% of Lan Jian Beer, the title of “Southwest Beer King” became history. In 2018, Zeng Qingrong officially withdrew from the management of Lan Jian Beverage Group. In recent years, Zeng Qingrong has been relatively quiet in the food and beverage industry.

However, reporters from the Securities Times noticed that this legendary Sichuan businessman is quite active in the capital market.

Heavy Investment in Kexin Electromechanical

Kexin Electromechanical (300092) recently disclosed its 2025 annual report, showing that as of the end of the reporting period, Zeng Yong held 2,469,300 shares of the company, accounting for 0.90% of the shares; simultaneously, Sichuan Lan Jian Investment Management Co., Ltd. (hereinafter referred to as “Lan Jian Investment”) and Chengdu Hongmei Investment Co., Ltd. (hereinafter referred to as “Hongmei Investment”) held 1,747,500 shares and 1,600,000 shares respectively, newly becoming the company’s ninth and tenth largest shareholders, with shareholding ratios of 0.64% and 0.58% respectively. All three entities have a significant connection to Zeng Qingrong.

According to Qichacha, Lan Jian Investment has a registered capital of 100 million yuan, with Zeng Qingrong serving as the company’s chairman and legal representative, while Zeng Yong serves as a director and manager. Reports indicate that Zeng Qingrong and Zeng Yong are father and son.

Lan Jian Investment is indeed the core investment platform for the aforementioned two. Currently, Rongxin Investment holds a 70% stake in Lan Jian Investment, with Rongxin Investment being held by Zeng Qingrong and Zeng Yong at 90% and 10% respectively.

Hongmei Investment is also a family business of Zeng Qingrong. Qichacha shows that Hongmei Investment was established in 2005 with a registered capital of 2 million yuan. Zeng Qingrong, Zeng Yong, Chengdu Jiayi Mu Investment, and Zeng Xiaoqin hold 35%, 30%, 30%, and 5% of the shares respectively. The major shareholder of Chengdu Jiayi Mu Investment, Qiao Yu, is the young master of the well-known Sichuan liquor “Jian Nan Chun” and currently serves as the general manager of Jian Nan Chun Group.

In total, Zeng Qingrong’s side holds 5,816,800 shares of Kexin Electromechanical, accounting for 2.12%. Based on the current stock price, the market value of his shares exceeds 90 million yuan.

This is not Zeng Qingrong’s first investment in Kexin Electromechanical.

At the beginning of 2023, Kexin Electromechanical completed a private placement. The company issued 42,324,300 shares at a price of 13.72 yuan per share, raising 581 million yuan. Among them, Lan Jian Investment spent 35 million yuan to subscribe for 2,551,000 shares.

On September 7, 2023, the above-mentioned shares subscribed by Lan Jian Investment were released from the lock-up period. It subsequently began to reduce its holdings in the second quarter of 2024. By the end of the third quarter of 2024, Lan Jian Investment’s holdings had decreased to 1,450,000 shares.

In Kexin Electromechanical’s 2024 annual report, Lan Jian Investment had disappeared; and by the end of 2024, the tenth largest shareholder of the listed company, Mao Fu Min Investment, held 1,050,000 shares. This indicates that Lan Jian Investment continued to significantly reduce its position.

Subsequently, Kexin Electromechanical’s third quarter report for 2025 showed that Zeng Yong had newly become the fifth largest shareholder of the company, holding 2,882,200 shares at the end of the period, accounting for 1.05%. At the same time, Chengdu Ruiji Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as “Chengdu Ruiji”) became the sixth largest shareholder of the company, holding 1,550,000 shares at the end of the period, accounting for 0.57%. Chengdu Ruiji is held by Zeng Yong and Zeng Qingrong at 62% and 38% respectively. Qichacha shows that Chengdu Ruiji is in the process of cancellation registration.

Investment Targets Concentrated in the Southwest Region

Overall, Zeng Qingrong’s layout in the capital market is notably regional. In October 2020, Lan Jian Investment acquired 33,333,300 shares of Chuanheng Group (002895) from Changheng Group for 351 million yuan, accounting for 6.84% of the total share capital of the listed company. In December 2022, Lan Jian Investment spent 122 million yuan to subscribe for 12,118,800 shares of Yuntu Holdings (002539) in a private placement.

What qualities of Kexin Electromechanical attracted Zeng Qingrong remains unknown to the outside world.

According to public data, Kexin Electromechanical, located in Sichuan, is mainly engaged in the design, research and development, and manufacturing of high-end heavy process equipment and system integration in fields such as nuclear power military industry, new energy, new materials, natural gas chemistry, petroleum refining, and coal chemical industries, encompassing key core production processes such as reaction, mass transfer, heat transfer, separation, and storage. The company is one of the core equipment manufacturers in the pressure vessel industry chain.

In 2025, Kexin Electromechanical achieved a total operating revenue of 1.148 billion yuan and a net profit of 64.0177 million yuan. The annual report showed that despite a continuous increase in order volume during the reporting period, the overall output efficiency was lowered due to the increased workload of some orders and extended production cycles caused by changes in customer product structures, coupled with limited production site resources, resulting in a year-on-year decrease in operating revenue of 5.52%.

(Source: e Company)