Core Viewpoint - Jinzhongzi Liquor is unable to achieve its ambitious revenue target of 5 billion yuan by 2025, marking a significant decline compared to its peers in the Anhui liquor industry, known as the "Four Heroes of Anhui" [2][8]. Financial Performance - Jinzhongzi Liquor announced a projected net loss for 2025, with an estimated negative profit attributable to shareholders [2][3]. - For the first three quarters of 2025, the company reported revenue of 628 million yuan, a year-on-year decrease of 22.08%, and a net loss of 100 million yuan, a decline of 0.97% [2][3]. - In Q3 2025, the company generated 144 million yuan in revenue, with a net loss of approximately 28.3 million yuan, compared to a loss of 111 million yuan in the same period last year [4]. Revenue Breakdown - The revenue from high-end liquor reached 51.27 million yuan, a 7.33% increase from the previous year, while mid-range and low-end liquor revenues fell by 24.07% and 23.83%, respectively [5]. Historical Context - Jinzhongzi Liquor has faced continuous losses since 2021, accumulating a total loss of 633 million yuan over four years [8]. - The company had set a strategic goal in 2020 to achieve 5 billion yuan in revenue by 2025, requiring an annual increase of 1 billion yuan, but has consistently failed to meet this target [6][7]. Competitive Position - Jinzhongzi Liquor has fallen behind its competitors in the "Four Heroes of Anhui," with revenues significantly lower than those of Gujinggongjiu, Yingjia Gongjiu, and Kouzi Jiao [9]. - In the first three quarters of 2025, Gujinggongjiu, Yingjia Gongjiu, and Kouzi Jiao reported revenues of 16.42 billion yuan, 4.516 billion yuan, and 2.306 billion yuan, respectively, while Jinzhongzi's revenue was only about 27% of Kouzi Jiao's [9]. Management Changes - In 2022, Jinzhongzi Liquor brought in strategic investment from China Resources, leading to changes in management, including the appointment of He Xiuxia as general manager [9]. - He Xiuxia resigned from the position in July 2025, ahead of the scheduled end of her term [9]. Future Strategy - The company plans to optimize its high-end product structure and increase the sales proportion of high-end products to improve profitability [10]. - New product launches and better management of existing products are part of the strategy to enhance sales and profitability [10].

长江商报消息●长江商报记者 黄聪 作为安徽四大名酒之一，金种子酒（600199.SH）已很久没有尝到盈利的滋味了。 1月11日晚间，金种子酒发布2025年度业绩预亏的提示性公告，经公司财务部门初步测算，预计公司 2025年度归属于上市公司股东的净利润为负值，2025年度经营业绩将出现亏损，亏损幅度预计同比将会 收窄。 值得注意的是，早在2020年，金种子酒提出，确保5年内（即到2025年）实现50亿元营收的战略目标。 预计2025年全年亏损 金种子酒成立于1998年7月，是安徽金种子集团有限公司的控股子公司，于1998年8月12日在上交所上 市，其前身是始建于1949年7月的国营阜阳县酒厂，是全国酿酒行业骨干企业。 作为安徽四大名酒之一，金种子酒现有"金种子""种子""醉三秋""和泰""颍州"五大白酒品牌，但公司近 年来业绩并不理想。 1月11日晚间，金种子酒发布2025年度业绩预亏的提示性公告，经公司财务部门初步测算，预计公司 2025年度归属于上市公司股东的净利润为负值，2025年度经营业绩将出现亏损，亏损幅度预计同比将会 收窄。 2025年前三季度，金种子酒实现营业收入6.28亿元，同比下降22.08% ...

Core Viewpoint - Jinzhongzi Liquor announced a negative net profit forecast for 2025, marking the fifth consecutive year of losses despite a narrowing loss margin, raising questions about the effectiveness of reforms since the entry of China Resources Group [1][5] Group 1: Financial Performance - The company expects a negative net profit for 2025, continuing a trend of losses for five years [1] - Jinzhongzi's cash balance was only 367 million yuan, while interest-bearing liabilities totaled 375 million yuan, indicating ongoing financial strain [2][7] - The revenue from the liquor business dropped significantly, with a 24.33% decline in 2024 to 744 million yuan, reverting to 2021 levels [8] Group 2: Asset Disposal - The company transferred 92% of its subsidiary, Jinyang Pharmaceutical, for 126 million yuan, which was a significant profit contributor in the past [2][7] - Jinyang Pharmaceutical's revenue plummeted by 62% to 161 million yuan in 2024, and it reported a loss of 2.5 million yuan in the first three quarters of 2025 [2][7] - The asset disposal is viewed as a desperate measure to alleviate financial pressure rather than a strategic focus on core business [2][7] Group 3: Strategic Challenges - The high-end product strategy initiated by China Resources has not yielded expected results, with the core product series performing poorly [8] - The gross margin for the liquor business fell by 10.44 percentage points to 38.4% in 2024, with further declines in high-end and mid-range product margins [8] - The combined expense ratio of 44.31% exceeded the gross margin of 34.94%, creating a cycle of increasing losses [8] Group 4: Management Changes - The departure of key executives, including the general manager and CFO, signals a failure of the initial reform efforts and raises concerns about strategic continuity [4][9]

（企业公告） 1月11日，金种子酒发布2025年度业绩预亏的提示性公告。披露经财务部门初步测算，预计公司 2025 年 度归属净利润为负值，2025 年度经营业绩将出现亏损，亏损幅度预计同比将会收窄。 ...

Group 1 - Defu Technology plans to acquire at least 51% of Huiru Technology through cash purchase and capital increase, making Huiru a subsidiary [1] - Huiru Technology specializes in the research, production, and sales of high-performance electrolytic copper foil, including lithium battery copper foil and electronic circuit copper foil [1] Group 2 - Medike's shareholder plans to reduce holdings by no more than 1% of the company's shares, amounting to approximately 410.93 million shares [2] - Huadong Medicine's subsidiary, Daor Biotechnology, has its product DR10624 included in the list of breakthrough therapeutic varieties, targeting severe hypertriglyceridemia [3] Group 3 - Fangsheng Pharmaceutical received a notice of non-compliance from the Hunan Provincial Drug Administration regarding its raw material drug production [4] - Yanjing Co. is planning a major asset restructuring, leading to a temporary suspension of its stock [5] - Xianle Health intends to issue H-shares and apply for listing on the Hong Kong Stock Exchange [6] Group 4 - Huate Gas shareholders plan to collectively reduce their holdings by no more than 2% of the company's shares [7] - Hangyu Technology plans to sell up to 752,800 repurchased shares to supplement working capital [8] Group 5 - Sichuan Electronics expects a net loss of between 265 million to 340 million yuan for the year 2025 [10] - Jinzongzi Wine anticipates a net loss for the 2025 fiscal year, although the loss is expected to narrow compared to the previous year [11] - Hebang Bio forecasts a net loss for 2025 due to anticipated asset impairment provisions [12] Group 6 - Dechang Co. expects a net profit decrease of 51% to 61% for 2025, estimating a profit of 160 million to 200 million yuan [13] - Kosen Technology and Weiyuan Co. both project net losses for 2025 [14][15] - Xiantan Co. reported a chicken product sales revenue of 530 million yuan in December 2025, with a year-on-year increase of 9.41% [16] Group 7 - Shangluo Electronics' application for issuing convertible bonds has been accepted by the Shenzhen Stock Exchange [17] - Zhongheng Group anticipates a net loss for 2025 [18]

今日无新股申购，无新股上市。 【重要新闻】 【全国商务工作会议：加快培育服务消费新增长点 优化消费品以旧换新政策实施】1月11日，全国商务 工作会议1月10日至11日在京召开。会议指出，2026年全国商务系统要重点做好八个方面工作：一是深 入实施提振消费专项行动，打造"购在中国"品牌。加快培育服务消费新增长点，释放服务消费潜力。优 化消费品以旧换新政策实施，推动商品消费扩容升级。打造国际化消费环境。发展数字消费、绿色消 费、健康消费，激发下沉市场消费活力。二是健全现代市场和流通体系，推进全国统一大市场建设。加 强制度保障，优化设施载体，推动零售业创新发展，完善现代商贸流通体系，深入推进试点城市建设。 推进内外贸一体化。三是推动贸易创新发展，打响"出口中国"品牌。优化升级货物贸易，大力发展服务 贸易，鼓励服务出口，创新发展数字贸易、绿色贸易，促进贸易投资一体化。四是塑造吸引外资新优 势，擦亮"投资中国"品牌。有序扩大服务领域自主开放，提升投资促进水平，健全外资服务保障体系。 五是对接国际高标准经贸规则，更大力度推进开放高地建设。全面深入实施自贸试验区提升战略，进一 步提高海南自由贸易港贸易投资自由化便利化水平， ...

证券代码：600199 证券简称：金种子酒 公告编号：临2026-001 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。 经安徽金种子酒业股份有限公司(以下简称"公司")财务部门初步测算，预计公司2025年度归属于上市公 司股东的净利润为负值，2025年度经营业绩将出现亏损，亏损幅度预计同比将会收窄。 公司将严格遵循《上海证券交易所股票上市规则》等相关规定，加快推进财务核算工作，尽快披露2025 年度业绩预告。最终财务数据请以公司正式披露的2025年年度报告为准。 敬请投资者理性投资，注意投资风险。 安徽金种子酒业股份有限公司 2025年度业绩预亏的提示性公告 特此公告。 安徽金种子酒业股份有限公司 董事会 2026年1月12日 ...

【热点】 13天11板嘉美包装：核查完成 公司股票将于1月12日复牌 嘉美包装（002969）公告，公司股票自2025年12月17日至2026年1月6日期间价格涨幅为230.48%，期间 多次触及股票交易异常波动情形，公司股票短期内价格涨幅较大，已背离公司基本面，为维护投资者利 益，公司就股票交易波动情况进行停牌核查。停牌期间，公司就股票交易波动情况进行了核查。鉴于相 关核查工作已完成，经公司向深圳证券交易所申请，公司股票将于2026年1月12日开市起复牌。 延江股份：鉴于筹划购买资产相关事项尚存在不确定性 公司股票继续停牌 来源：股市直击 延江股份（300658）公告，公司正在筹划发行股份等方式购买资产，同时拟募集配套资金，预计可能构 成重大资产重组。为维护投资者利益，公司股票自2026年1月5日开市起停牌，预计在2026年1月19日前 披露交易方案。截至公告披露日，公司与有关各方正在积极推进本次交易相关工作。鉴于本次交易的相 关事项尚存在不确定性，为维护投资者利益，避免公司股价异常波动，根据深圳证券交易所的相关规 定，公司股票继续停牌。 德福科技：终止收购卢森堡铜箔100%股权 德福科技（301511）公 ...

证券代码：600199 证券简称：金种子酒 公告编号：临 2026-001 安徽金种子酒业股份有限公司 2025年度业绩预亏的提示性公告 经安徽金种子酒业股份有限公司(以下简称"公司")财务部门初步测算，预 计公司 2025 年度归属于上市公司股东的净利润为负值，2025 年度经营业绩将出 现亏损，亏损幅度预计同比将会收窄。 公司将严格遵循《上海证券交易所股票上市规则》等相关规定，加快推进财 务核算工作，尽快披露 2025 年度业绩预告。最终财务数据请以公司正式披露的 2025 年年度报告为准。 敬请投资者理性投资，注意投资风险。 特此公告。 安徽金种子酒业股份有限公司 董事会 2026 年 1 月 12 日 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。 ...

【品大事】 嘉美包装：核查完成公司股票将于1月12日复牌 德福科技：终止收购卢森堡铜箔100%股权 德福科技(301511)公告，公司原计划收购的卢森堡铜箔100%股权因卢森堡经济部附加的限制条件无法完 成，交易双方同意终止此次收购。德福科技已支付的1740.47万欧元合同保证金将在终止后10个工作日 内由交易对方全额退还。此次终止收购不会影响公司的正常生产经营及财务状况。 德福科技：拟以现金收购及增资方式取得慧儒科技不低于51%股权 德福科技(301511)公告，近日，公司与安徽慧儒科技有限公司（简称"慧儒科技"）及其实际控制人王孙 根签署《收购意向书》，公司拟以现金收购及增资方式，取得慧儒科技不低于51%的股权。本次交易完 成后，慧儒科技将成为公司控股子公司。慧儒科技主要从事各类高性能电解铜箔的研发、生产和销售， 主要产品包括锂电铜箔和电子电路铜箔。截至本公告披露日，慧儒科技电解铜箔产能为2万吨/年。 商络电子：向不特定对象发行可转换公司债券申请获深交所受理 商络电子(300975)公告，公司于2026年1月9日收到深圳证券交易所出具的《关于受理南京商络电子股份 有限公司向不特定对象发行可转换公司债券申请 ...