转自：大众报业·齐鲁壹点 5月7日，青岛啤酒(600600.SH)公告称，公司拟从新华锦集团和鲁锦集团处受让其合计持有的山东即墨黄酒厂有限公司100%股权，相关 对价为人民币66,500万元和价格调整期损益金额之和。这场同处胶东半岛的 "酒业联姻"，不仅创下近五年国内黄酒行业最高并购金额纪 录，更标志着中国啤酒龙头正式叩开黄酒赛道的大门。 齐鲁晚报·齐鲁壹点 张志恒 青岛啤酒寻求"增长曲线" 啤酒与黄酒的 "季节 CP" 效应，也成为此次并购的底层逻辑之一。青岛啤酒半年报显示，其第二、三季度营收占比合计达 65%，冬季营 收占比不足 15%，季节性波动导致全年产能利用率仅 72%。而即墨老酒的销售旺季集中在秋冬，2024 年第四季度营收占比达 38%，双方 形成天然的淡旺季互补。更重要的是，黄酒的消费场景覆盖餐饮宴请、养生滋补等啤酒难以触及的领域，2024 年即墨老酒 35% 的营收 来自礼品渠道，与啤酒的即饮场景形成协同。 黄酒区域头部品牌的破局 相比白酒和啤酒市场，国内的黄酒行业面临着市场小而分散的困境。2023年，全国黄酒销售收入仅为210亿元，仅占酒类市场总量的 2%。同时，黄酒的消费主要集中在江浙沪 ...

值得注意的是，此前青岛啤酒集团与青岛饮料集团实施战略性重组整合，此次重组旨在深化国企改革， 推动食品饮料产业提质升级，构建"10+1"创新型产业体系的重要布局。此次重组后，两大企业将实现资 源共享和优势互补。青岛啤酒集团可借助青岛饮料集团在水饮料和葡萄酒领域的优势，拓展啤酒主业之 外的新业务；青岛饮料集团则能利用青岛啤酒集团在渠道、品牌、供应链、资本等方面的优势，助力旗 下优质产品迅速扩展全国市场，提升竞争力。 编辑 李严 校对 赵琳 新京报讯（记者王子扬）5月8日，新京报记者了解到，啤酒企业青岛啤酒股份有限公司（简称"青岛啤 酒"）已与新华锦集团有限公司（简称"新华锦集团"）、山东鲁锦进出口集团有限公司（简称"鲁锦集 团"）及山东即墨黄酒厂有限公司（简称"即墨黄酒"）签订股权转让协议。青岛啤酒拟从新华锦集团和 鲁锦集团处受让其合计持有的即墨黄酒100%股权，相关对价为6.65亿元与价格调整期损益金额之和。 本次股权收购交易完成交割后，青岛啤酒将持有即墨黄酒全部股权，即墨黄酒成为其全资子公司，纳入 公司合并报表范围。 根据公告，即墨黄酒始建于1949年，1980年成立即墨县黄酒厂，生产销售的"即墨"牌即墨老酒 ...

金十数据5月8日讯，企查查APP显示，近日，青岛啤酒生物科技有限公司成立，法定代表人为杨振国， 注册资本4.21亿元，经营范围包含：生物有机肥料研发；复合微生物肥料研发；生物质能技术服务；固 体废物治理等。企查查股权穿透显示，该公司由青岛啤酒全资持股。 青岛啤酒成立生物科技新公司 ...

NO.1 茅台文旅官宣代言人 5月7日，茅台文旅官微发布消息称，张艺兴正式成为茅台文旅代言人。 《每日经济新闻·将进酒》记者获悉，5月17日~18日，茅台文旅将携手央视传媒举办"2025年贵州黄小西 T²音乐与艺术节"。届时，张艺兴将以茅台文旅代言人的身份出席并参与演出。 资料显示，茅台文旅以发展酒旅融合为目标，包括"工业旅游景区运营、文创产品开发、会务策展"三大 核心业务。其近期研发的"黄小西"玩偶系列为贵州旅游市场上的热销品。 点评：茅台强化"酒旅"联动，深度融入和创新"酒旅融合"业态，既是践行"客群、场景、服务"的三个转 型，也助推"卖酒向卖生活方式转变"。此次茅台文旅官宣代言人，将为其更好切入消费市场、树立品牌 文化形象、扩大企业影响力提供新的路径。 每经记者｜熊嘉楠 每经编辑｜肖芮冬 丨2025年5月8日星期四丨 5月7日，青岛啤酒公告称，公司拟从新华锦集团和鲁锦集团处受让其合计持有的山东即墨黄酒厂有限公 司（以下简称即墨黄酒）100%股权，相关对价为人民币6.65亿元和价格调整期损益金额之和。本次股 权收购交易完成交割后，公司将持有即墨黄酒全部股权，即墨黄酒成为公司的全资子公司，纳入公司合 并报表 ...

Market Performance - On May 7, 2025, A-shares saw collective gains with the Shanghai Composite Index rising by 0.8% to 3342.67 points, the Sci-Tech 50 Index increasing by 0.36% to 1030.19 points, the Shenzhen Component Index up by 0.22% to 10104.13 points, and the ChiNext Index gaining 0.51% to 1996.51 points [1] - Hong Kong stocks opened higher but narrowed gains, with the Hang Seng Index closing up 0.13% at 22691.88 points and a total turnover of HKD 2400.5 million; the Hang Seng China Enterprises Index fell by 0.23% to 8242.25 points, and the Hang Seng Tech Index dropped by 0.75% to 5200.04 points [1] - U.S. stocks also experienced gains, with the Dow Jones Industrial Average rising by 284.97 points (0.70%) to 41113.97 points, the Nasdaq up by 48.50 points (0.27%) to 17738.16 points, and the S&P 500 increasing by 24.37 points (0.43%) to 5631.28 points [1] New Stock Offerings - Two new stocks are available for subscription today: - Taili Technology, with a subscription price of CNY 17.05 per share and a price-to-earnings ratio of 21.55, focuses on new material research and vacuum technology applications, offering a range of home storage products and related functional materials [3] - Weigao Blood Purification, priced at CNY 26.5 per share with a price-to-earnings ratio of 24.82, specializes in the research, production, and sales of medical products for blood purification, including hemodialysis devices and peritoneal dialysis solutions, making it one of the most comprehensive manufacturers in this field in China [3] Regulatory Developments - The China Securities Regulatory Commission (CSRC) has issued a new action plan aimed at promoting high-quality development in the public fund industry, emphasizing the need for improved salary management linked to fund performance [4][5] - Fund managers whose products underperform the benchmark by more than 10 percentage points over three years will see a significant reduction in their performance-based compensation, while those who exceed benchmarks may receive reasonable increases [5] - The action plan includes 25 measures designed to shift the focus of the industry from scale to returns, addressing market and social concerns and aiming for a turning point in high-quality development [5] Industry Insights - According to preliminary data from the China Passenger Car Association, the wholesale sales of new energy passenger vehicles in April 2025 are estimated at 1.14 million units, representing a year-on-year increase of 42% and a month-on-month increase of 1% [6] - Cumulatively, from January to April 2025, the total wholesale volume reached 4 million units, also reflecting a year-on-year growth of 42% [6]

Group 1 - A-share market has a more solid foundation for long-term stable operation due to a series of continuously strengthened policies [16] - The recent emphasis on stabilizing and activating the capital market by the State Council Information Office further supports this outlook [16] - The role of central financial institutions in promoting long-term capital inflow into the market is expected to enhance market resilience [16] Group 2 - The People's Bank of China is implementing a moderately loose monetary policy to support economic recovery and high-quality development [4] - The China Securities Regulatory Commission has issued a plan to promote the high-quality development of public funds, including reducing investor costs and reforming performance evaluation mechanisms [4][5] - The Guangdong provincial government has launched a special action plan to boost consumption, which includes encouraging listed companies to implement employee stock ownership plans [6] Group 3 - The U.S. Federal Reserve has maintained its interest rate target range, reflecting increased uncertainty in the economic outlook [7] - The Fed's concerns about rising unemployment and inflation risks indicate a cautious approach to future monetary policy adjustments [7] - The ongoing trade tensions and tariff discussions between the U.S. and China continue to create economic uncertainty [5][8]

早 报 精 选 1、 外交部回应中美经贸高层会谈：这次会谈是应美方请求举行的。 2、证监会印发《推动公募基金高质量发展行动方案》。 3、中国4月末黄金储备报7377万盎司，环比增加7万盎司，为连续第六个月增持黄 金。 4、上海：下调个人住房公积金贷款利率。 5、吉利汽车：建议私有化极氪，每股作价2.57美元。 宏 观 新 闻 1、 国新办昨日举行新闻发布会，央行行长潘功胜表示，降低存款准备金率0.5个百分 点，下调政策利率0.1个百分点。下调结构性货币政策工具利率0.25个百分点。潘功 胜称，优化两项支持资本市场货币政策工具，将5000亿元证券基金保险公司互换便 利，和3000亿元股票增持回购再贷款两个工具的额度合并，总额度变为8000亿元。 2、国家金融监管总局局长李云泽在国新办新闻发布会上表示，充分发挥保险资金作为 耐心资本和长期资本的作用，加大入市稳市力度，下一步将推出三条措施支持稳定和 活跃资本市场。一是扩大保险资金长期投资的试点范围，为市场注入更多增量资金； 二是调整偿付能力的监管规则，将股票投资的风险因子进一步调降10%，鼓励保险公 司加大入市力度；三是推动长周期的考核机制，促进长钱长投。李云泽称 ...

突发！极氪拟从美股退市 【今日推荐】 5月7日，吉利汽车控股有限公司宣布，计划收购极氪智能科技有限公司已发行全部股份。吉利汽车 目前持有极氪约65.7%的股份，如交易完成，极氪将与吉利汽车实现完全合并，实现私有化并于纽交 所退市。对此，吉利控股集团方面回应称，此举是进一步落实《台州宣言》，聚焦汽车主业，提升资 源利用效率，深化品牌协同的重要步骤。 联想杨元庆回应产品是否涨价 在5月7日的联想TechWorld上，联想集团董事长杨元庆被问及作为一家全球化公司，接下来联想的产 品是否会涨价？杨元庆表示，这肯定没有一个绝对的回答，零部件的供需情况是很重要的考量因素。 大家关心的是关税的影响会反映在产品定价上，如果没有更进一步的政策改变，可能对价格影响还不 大。但未来不确定性非常大。 英伟达称中国500亿美元市场不容错过 当地时间5月6日，英伟达CEO黄仁勋在美国拉斯维加斯参加ServiceNow公司的全球科技峰会 Knowledge大会。当天，英伟达与ServiceNow联合推出了面向企业级AI智能体（AI agent）的新服 务。黄仁勋谈及人工智能的潜力和英伟达最新发布的推理大模型，并再次强调了中国是人工智能的重 ...

Financial Performance - BeiGene reported a net loss of 945.03 million yuan in Q1 2025, despite a significant increase in product revenue [2] - The company's product revenue reached 7.985 billion yuan, a year-on-year increase of 49.9%, while total revenue was 8.048 billion yuan, up 50.2% year-on-year [2] - Total assets at the end of the reporting period were 42.126 billion yuan, a decrease of 1.7% from the beginning of the period, while equity attributable to shareholders increased by 4.3% to 25.206 billion yuan [2] Product Sales Growth - The growth in product revenue was primarily driven by self-developed products such as Brukinsa® (Zebutinib) and Tazverik® (Tazemetostat), along with sales growth from Amgen's licensed products [3] - Global sales of Brukinsa® totaled 5.692 billion yuan, a year-on-year increase of 63.7%, with U.S. sales at 4.041 billion yuan, up 61.9% [3] - Sales in Europe reached 836 million yuan, a 75.4% increase, while sales in China were 590 million yuan, up 43.1% [3] - Sales of Tazverik® amounted to 1.245 billion yuan, reflecting a year-on-year growth of 19.3%, driven by new patient demand from newly approved indications in China [3] Corporate Governance and Changes - The controlling shareholder of Dongxing Securities will change to Huijin Company following the approval of a state-owned equity transfer plan [5] - Haohai Biological Technology announced that its controlling shareholder, Jiang Wei, is under investigation for insider trading, although this matter does not impact the company's daily operations [4]

Core Viewpoint - Qingdao Beer has announced the acquisition of 100% equity in Jimo Yellow Wine Factory for 665 million yuan, aiming to enhance its product line and market competitiveness through diversification in the fermented beverage sector [2][3]. Group 1: Acquisition Details - The acquisition involves Qingdao Beer purchasing Jimo Yellow Wine Factory, which will be included in the company's consolidated financial statements post-transaction [2]. - Jimo Yellow Wine, established in 1949, is a significant player in traditional Chinese yellow wine, known for its unique flavor profile [2]. Group 2: Financial Performance - In the previous year, Jimo Yellow Wine reported revenue of 166 million yuan, a year-on-year increase of 13.5%, and a net profit of 30.4 million yuan, reflecting a 38% growth, with a net profit margin of 18.31% [3]. - Comparatively, leading yellow wine companies like Guyue Longshan and Kuaijishan had lower net profit margins of approximately 10.67% and 12.11%, respectively [3]. Group 3: Market Potential and Strategy - The acquisition is seen as a strategic move to tap into the growth potential of the yellow wine market, particularly targeting younger consumers who are increasingly interested in products like sparkling yellow wine [3]. - Jimo Yellow Wine offers a range of products across various price points, but faces challenges in enhancing its high-end product offerings [4]. Group 4: Industry Challenges - The yellow wine industry is grappling with issues related to the insufficient premiumization of products, with popular items priced between 20 to 50 yuan, while high-end products struggle with low sales volumes [4]. - Analysts suggest that improving the value of yellow wine should focus on brand culture and consumer engagement rather than merely increasing prices [4]. Group 5: Broader Context - Qingdao Beer has been expanding its portfolio, having recently acquired Qingdao Beverage, which includes wine and spirits brands, aligning with its strategy to diversify beyond beer [5]. - The integration of these brands and the development of a cohesive marketing strategy remain uncertain, as the company navigates its new product landscape [5][6].