证券代码：600059 证券简称：古越龙山 公告编号： 2025-042 浙江古越龙山绍兴酒股份有限公司关于 2025 年度"提质增效重回报"行动方案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 为深入贯彻落实《国务院关于进一步提高上市公司质量的意见》精神，积极响应 上海证券交易所《关于开展沪市公司"提质增效重回报"专项行动的倡议》，切实维 护投资者合法权益，增强市场信心，推动公司实现更高质量发展，浙江古越龙山绍兴 酒股份有限公司（以下简称"公司"或"古越龙山"）结合自身经营实际与发展战略， 特制定本行动方案。 一、聚焦主业发展，筑牢核心竞争力 2025 年，公司紧扣高质量发展主题，坚定 "高端化、年轻化、全球化、数字化" 发展路径，在科研创新、园区建设、市场拓展、机制优化领域精准发力，以实现经营 质量、发展效益与综合回报的协同提升。 （一）深化科研赋能，优化产品矩阵 坚持科技引领与产品创新并重，持续加大研发投入。2025 年研发费用预计同比显 著增长，深化与中科院微生物研究所、江南大学、浙江大学等机构的产学研合作， ...

证券代码：600059 证券简称：古越龙山 公告编号：2025-041 浙江古越龙山绍兴酒股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 11 月 10 日 （星期一） 至 11 月 14 日 （星 期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司邮箱 zjy@shaoxingwine.com.cn 进行提问。公司将在说明 会上对投资者普遍关注的问题进行回答。 浙江古越龙山绍兴酒股份有限公司（以下简称"公司"）已于 2025 年 10 月 29 日发布公司 2025 年第三季度报告，为便于广大投资者更 全面深入地了解公司 2025 年第三季度经营成果、财务状况，公司计 划于 2025 年 11 月 17 日 （星期一） 09:00-10:00 举行 2025 年第三 季度业绩说明会，就投资者关心的问 ...

证券代码：600059 证券简称：古越龙山 编号：临 2025-040 浙江古越龙山绍兴酒股份有限公司 2025 年 1-9 月经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据《上海证券交易所上市公司自律监管指引第 3 号——行业信息披露》之 《第十二号—酒制造》的相关规定，现将公司 2025 年 1-9 月主要经营数据（未 经审计）公告如下： 一、产品销售情况： 二、销售渠道情况： 单位：万元 | 渠道类型 | 本期销售收入 | 上期销售收入 | 变动比例 | | --- | --- | --- | --- | | 直销（含团购） | 26396.07 | 27675.40 | -4.62% | | 批发代理 | 87547.15 | 95897.48 | -8.71% | | 国际销售 | 2848.23 | 2967.86 | -4.03% | | 合计 | 116791.45 | 126540.74 | -7.70% | 三、区域情况： 单位：万元 | 区域情况 | 本期销售收入 | 上期销售收 ...

古越龙山公告，绍兴市国控集团有限公司通过绍兴市国资委出资入股方式取得绍兴市国资委持有的绍兴 国资运营100%的股权，进而通过绍兴国资运营及其控股的黄酒集团间接控制上市公司30%以上股份。 此次收购已于2025年3月31日完成工商变更登记，符合《收购管理办法》第六十三条第一款第（一）项 规定，免于发出要约。收购完成后，古越龙山的直接控股股东仍为黄酒集团，实际控制人未变，仍为绍 兴市国资委。 ...

Core Insights - The company reported a third-quarter revenue of 293 million yuan, representing a year-on-year decline of 26.96% [1] - The net profit for the third quarter was 44.58 million yuan, showing a year-on-year increase of 11.78% [1] - For the first three quarters, the total revenue was 1.186 billion yuan, down 8.10% year-on-year [1] - The net profit for the first three quarters reached 135 million yuan, reflecting a slight year-on-year increase of 0.17% [1] Financial Performance - Third-quarter revenue: 293 million yuan, down 26.96% year-on-year [1] - Third-quarter net profit: 44.58 million yuan, up 11.78% year-on-year [1] - Year-to-date revenue: 1.186 billion yuan, down 8.10% year-on-year [1] - Year-to-date net profit: 135 million yuan, up 0.17% year-on-year [1]

Market Performance - The non-liquor sector increased by 0.09% compared to the previous trading day, with *ST Lanhua leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Highlights - *ST Lanhua closed at 8.91, with a rise of 3.36% and a trading volume of 44,800 shares, totaling a transaction value of 39.68 million yuan [1] - Huaiqian Beer (惠泉啤酒) and ST Xifa (ST西发) also showed modest gains of 0.69% and 0.54%, respectively [1] - Zhangyu A (张裕A) experienced a decline of 1.51%, closing at 21.53 with a trading volume of 33,500 shares [2] Capital Flow Analysis - The non-liquor sector saw a net outflow of 797,100 yuan from institutional investors, while retail investors experienced a net outflow of 6,544,780 yuan [2] - Speculative funds had a net inflow of 66,245,000 yuan, indicating a shift in investor sentiment [2] Individual Stock Capital Flow - Kuaijishan (会稽山) had a net outflow of 27,921,000 yuan from institutional investors, while it saw a net inflow of 12,754,600 yuan from speculative funds [3] - Qingdao Beer (青岛啤酒) recorded a net inflow of 20,624,600 yuan from institutional investors, with a significant net outflow of 40,225,200 yuan from retail investors [3]

Core Insights - The 23rd China International Wine Expo showcased a comprehensive display of the entire industry chain, moving beyond just finished products to include raw materials, smart equipment, and digital marketing [4][10] - The industry is undergoing significant transformations characterized by three main themes: youthfulness, digitalization, and internationalization, which are essential for the industry's evolution [2][12] Youthfulness - Wine companies are actively adapting to attract younger consumers, with products like "no high-low" yellow wine targeting health-conscious youth, and innovative offerings such as wine-infused chocolates and face masks [6][7] - The shift towards youthfulness is driven by the emergence of Generation Z as a new consumer force, emphasizing personalized experiences and health-conscious choices [7][9] Digitalization - The digital transformation in the wine industry is evident through automation in production processes and the integration of technologies like blockchain for transparency and AR/VR for immersive experiences [9][10] - However, the digitalization efforts are primarily benefiting larger enterprises, raising concerns about the potential widening gap between large and small companies in the industry [9][12] Internationalization - Chinese wine companies are increasingly engaging with global markets, supported by China's growing international influence and proactive industry reforms [10][12] - The internationalization of Chinese wine faces challenges, including the need to meet international quality standards and cultural recognition in foreign markets [12][13] Conclusion - The wine expo reflects a broader trend of transformation in traditional industries, where youthfulness, digitalization, and internationalization are interconnected and mutually reinforcing [13][15] - The industry must embrace change with an open mindset and innovative spirit to navigate the complexities of modern market dynamics [15]

Core Insights - The yellow wine industry is facing challenges such as aging brand image and a disconnect with younger consumers, prompting brands to seek innovative solutions to break through these barriers [1][3] - Cross-industry collaboration is emerging as a significant strategy, exemplified by the partnership between Guyue Longshan and China Resources Beer to develop a new "yellow wine + beer" product [1][4] Product Innovation - Product innovation is a fundamental aspect of the yellow wine industry's efforts to revitalize itself, focusing on appealing to younger consumers through flavor, packaging, and functional value [4][5] - The collaboration between Guyue Longshan and China Resources Beer aims to combine brewing techniques and traditional yellow wine heritage to create a "yellow wine craft beer" that meets contemporary consumer preferences for lower alcohol content and enjoyable drinking experiences [4][5] - Guyue Longshan's previous launch of "craft yellow beer" achieved significant success, with 25,000 boxes ordered and over 10 million yuan in sales within the first month [4][5] - Other brands are also innovating, such as Kuaijishan's "daily smoked refreshing wine" and various herbal-infused products targeting health-conscious young consumers [7][8] Channel Innovation - The yellow wine industry is undergoing channel innovation to reach younger demographics, moving away from traditional sales methods to embrace e-commerce and modern retail strategies [8][9] - Kuaijishan has established an e-commerce company to explore digital sales strategies, achieving over 10 million yuan in sales within 72 hours during the 618 shopping festival [9][12] - Guyue Longshan is also expanding its online presence through major e-commerce platforms and is actively seeking new offline sales channels, including convenience stores and high-end restaurants [9][12] Regional Expansion - The yellow wine industry is heavily concentrated in the Jiangsu, Zhejiang, and Shanghai regions, which account for over 75% of national sales, necessitating efforts to expand beyond these areas [12][13] - The partnership between Guyue Longshan and China Resources Beer represents an attempt to penetrate new markets, leveraging China Resources' established distribution network [13][14] - Marketing initiatives, such as the "Cheers to New Yellow Wine" campaign, aim to increase brand visibility and engage younger consumers, with significant social media reach [13][16]

Core Insights - The consumption of yellow wine is experiencing a surge alongside the peak season for hairy crabs, with traditional products being complemented by younger, innovative offerings [1][2] - The market is characterized by intense competition among brands, both traditional and new entrants, as they seek to capitalize on the growing demand for yellow wine during the crab season [1][6] Market Trends - The introduction of youthful yellow wine products by leading brands such as Kuaijishan and Guyuelongshan is reshaping the traditional pairing of yellow wine with hairy crabs [2][11] - Sales data indicates that Kuaijishan's 8-degree sparkling yellow wine has surpassed 6,000 sales, while Guyuelongshan's similar product has exceeded 400 sales, highlighting a shift in consumer preferences towards innovative products [2][11] Industry Growth - The hairy crab market has shown significant growth, with production reaching a historical high of over 7 billion crabs in 2023, indicating a robust demand that supports the yellow wine market [7][11] - The yellow wine industry is projected to grow, with sales revenue reaching 21 billion yuan in 2023, a 2.1% increase year-on-year, and expected to exceed 30 billion yuan by 2025, maintaining a compound annual growth rate of over 5% [11][12] Consumer Behavior - The younger demographic is increasingly drawn to low-alcohol beverages, making yellow wine appealing due to its lower alcohol content and palatable taste [11][12] - Brands are focusing on expanding consumption scenarios beyond traditional dining, aiming to position yellow wine as a cultural lifestyle product through innovative venues like "slow wine bars" [12][13] Strategic Initiatives - Companies are encouraged to enhance their brand's appeal to younger consumers through innovative marketing strategies, including social media engagement and collaborations with influencers [13][14] - The establishment of experiential consumption spaces, such as slow wine bars, allows brands to gather consumer data and preferences, facilitating a deeper connection with the target audience [12][13]

Core Viewpoint - Gu Yue Long Shan is accelerating its youth-oriented transformation by collaborating with China Resources Beer to launch a cross-border product combining yellow wine and beer, aiming to capture the younger consumer market [3][4]. Company Performance - In the first half of the year, Gu Yue Long Shan reported a liquor sales revenue of 879 million yuan, a year-on-year increase of 0.86%, while net profit attributable to shareholders decreased by 4.72% to 90.31 million yuan [3]. - The company's revenue growth and market capitalization have been surpassed by its competitor Kuaiji Mountain, posing a risk to its title as the "King of Yellow Wine" [3]. Industry Challenges - The yellow wine industry is facing overall pressure due to aging consumers and regional consumption barriers, with the notion that "yellow wine cannot leave Jiangsu, Zhejiang, and Shanghai" becoming a prevalent challenge [3]. - Even in regions with a rich yellow wine culture, the acceptance of yellow wine among younger consumers is declining, necessitating strategies to break regional limitations and attract younger demographics [3]. Product Innovation and Market Strategy - Gu Yue Long Shan has been exploring youth-oriented strategies, including the launch of a craft yellow wine that garnered over 10 million yuan in orders within its first month [4]. - The company has introduced various innovative products, such as coffee yellow wine and flavored yellow wines, to cater to the preferences of younger consumers [4][5]. - The establishment of "slow wine bars" and the hosting of events like "trendy drinking music festivals" reflect the company's efforts to create drinking scenarios appealing to younger audiences [5]. Management Changes - Recent high-level personnel changes include the appointment of Hu Feng as the new deputy general manager, with a total of nine changes in the board and management over the past year, indicating adjustments during the company's transformation phase [7].