Core Insights - Jin Feng Wine Industry (600616.SH) reported a revenue of 330 million yuan for the first three quarters of 2025, representing a year-on-year decline of 6.86% [1] - The company recorded a net loss attributable to shareholders of 9.59 million yuan [1] - The non-recurring net profit also showed a loss of 10.96 million yuan, with basic earnings per share at -0.01 yuan [1]

Core Viewpoint - Shanghai Jinfeng Wine Industry Co., Ltd. reported a decline in revenue and a net loss for the first three quarters of 2025, indicating challenges in the market and operational adjustments [1] Financial Performance - For the period of January to September, the company achieved operating revenue of 330 million yuan, a year-on-year decrease of 6.86% [1] - The net profit attributable to shareholders of the listed company was a loss of 9.5867 million yuan [1] Reasons for Loss - The company noted that the reduction in net profit loss was primarily due to a decrease in information technology expenses within management costs compared to the previous year [1] - Adjustments in promotional efforts based on market demand and control over sales expense expenditures contributed to the reduction in losses [1]

Group 1 - The core point of the article is that Jin Feng Wine Industry (600616.SH) reported a decline in total operating revenue for the first three quarters of 2025, amounting to 330 million yuan, which represents a year-on-year decrease of 6.86% [1] - The net profit attributable to shareholders of the parent company was -9.59 million yuan, indicating an improvement in losses by 20.07 million yuan compared to the same period last year [1] - The basic earnings per share stood at -0.01 yuan [1]

证券代码：600616 证券简称：金枫酒业 公告编号：2025-025 上海金枫酒业股份有限公司 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个别及连带责任。 重要内容提示： 会议召开时间：2025 年 11 月 07 日 （星期五） 13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： 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 10 月 31 日（星期五）至 11 月 06 日（星期四）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 （lily@jinfengwine.com 或 lqc@jinfengwine.com）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。 上海金枫酒业股份有限公司（以下简称"公司"）已于 2025 年 10 月 3 ...

上海金枫酒业股份有限公司 关于调整租赁办公场地暨关联交易公告 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。 证券代码：600616 证券简称：金枫酒业 公告编号：2025-024 重要内容提示： 一、关联交易的概述 公司于 2024 年 4 月 25 日召开的第十一届董事会第十三次会议上审议通过了 《金枫酒业关于租赁办公场地暨关联交易的议案》，同意继续向控股股东糖酒集 团租赁其拥有的本市普陀区宁夏路 777 号 10、11 楼用于公司总部及下属销售分 公司办公，总建筑面积 2806 平方米，租赁期限 2 年，自 2024 年 5 月 1 日起至 2026 年 4 月 30 日止。年租金 2,970,151 元，2 年共计 5,940,302 元。（详见刊 1 上海金枫酒业股份有限公司（以下简称"金枫酒业"或"公司"） 拟变更与上海 市糖业烟酒（集团）有限公司（以下简称"糖酒集团"）签署的《房屋土地 租赁合同》，2025 年 11 月 1 日起由原协议的 10 楼、11 楼变更为 9 楼和 10 楼部分办公场所，租赁面积 ...

证券代码：600616 证券简称：金枫酒业 公告编号：2025-023 公司审计委员会对公司 2025 年三季度财务会计报表进行了事先审核，认为： 公司 2025 年第三季度的财务会计报表符合国家颁布的企业会计准则和《企业会 计制度》的规定，在所有重大方面真实公允地反映了公司 2025 年第三季度的经 营成果、现金流量和 2025 年 9 月 30 日的财务状况。 二、《金枫酒业关于调整租赁办公场地暨关联交易的议案》 表决结果：同意 7 票，反对 0 票，弃权 0 票 公司于 2024 年 4 月 25 日召开的第十一届董事会第十三次会议上审议通过了 《金枫酒业关于租赁办公场地暨关联交易的议案》，同意继续向控股股东上海市 糖业烟酒（集团）有限公司（以下简称"糖酒集团"）租赁其拥有的本市普陀区 宁夏路 777 号 10、11 楼用于公司总部及下属销售分公司办公，总建筑面积 2806 平方米，租赁期限 2 年，自 2024 年 5 月 1 日起至 2026 年 4 月 30 日止。年租金 2,970,151 元，2 年共计 5,940,302 元。（详见刊登于 2024 年 4 月 27 日的《中国 证券报》和《 ...

Market Overview - The non-baijiu sector increased by 0.32% compared to the previous trading day, with Kuaijishan leading the gains [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Kuaijishan (601579) closed at 22.75, up 5.42% with a trading volume of 243,600 shares [1] - Other notable stocks include: - Jiu You Xian Jiu (000729) at 11.83, up 1.02% [1] - Chongqing Beer (600132) at 53.50, up 0.96% [1] - Gu Zhi Lang La (600600) at 65.70, up 0.20% [1] - The overall performance of the non-baijiu sector showed mixed results, with several stocks experiencing declines [1][2] Capital Flow - The non-baijiu sector saw a net outflow of 47.92 million yuan from institutional investors, while retail investors contributed a net inflow of 8.39 million yuan [2] - Notable capital flows include: - Kuaijishan had a net inflow of 77.35 million yuan from institutional investors, but a net outflow of 78.27 million yuan from retail investors [3] - Zhujiang Beer (002461) experienced a small net inflow from retail investors of 2.12 million yuan despite a net outflow from institutional and speculative investors [3]

Financial Performance - The company's operating revenue for Q3 2025 was CNY 114,136,515.60, representing a decrease of 2.46% compared to the same period last year[5]. - The total profit for the period was a loss of CNY 4,704,515.95, with a year-to-date total profit loss of CNY 14,891,688.04[5]. - The net profit attributable to shareholders for Q3 2025 was a loss of CNY 2,450,733.10, with a year-to-date net profit loss of CNY 9,586,729.12[5]. - Total revenue for the first three quarters of 2025 was CNY 330,044,517.70, a decrease of 6.86% compared to CNY 354,367,069.28 in the same period of 2024[18]. - The net profit for the first three quarters of 2025 was -10,994,028.54 RMB, compared to -30,750,038.75 RMB in the same period of 2024, showing an improvement[20]. - The total comprehensive income attributable to the parent company was -9,586,729.12 RMB in 2025, compared to -29,660,087.99 RMB in 2024, indicating a significant reduction in losses[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,141,968,680.22, a decrease of 5.15% from the end of the previous year[5]. - Total assets as of September 30, 2025, were CNY 2,141,968,680.22, down from CNY 2,258,207,067.21 at the end of 2024[16]. - Total liabilities decreased to CNY 236,923,227.60 from CNY 308,717,338.55 in the previous year[16]. - The company’s equity attributable to shareholders decreased to CNY 1,922,208,663.42 from CNY 1,965,245,640.04 in 2024[17]. Cash Flow - The net cash flow from operating activities for the year-to-date was a negative CNY 36,677,449.61[5]. - The net cash flow from operating activities was -36,677,449.61 RMB for the first three quarters of 2025, worsening from -21,205,355.19 RMB in 2024[22]. - Cash and cash equivalents decreased to CNY 889,484,105.12 as of September 30, 2025, from CNY 968,760,424.64 at the end of 2024[14]. - The cash and cash equivalents at the end of Q3 2025 were 196,912,146.91 RMB, down from 235,485,616.87 RMB at the end of Q3 2024[24]. - The cash outflow from investing activities was -10,096,908.38 RMB in 2025, compared to a cash inflow of 13,859,205.38 RMB in 2024, indicating a shift in investment strategy[24]. - The cash outflow from financing activities was -36,274,073.46 RMB in 2025, compared to -39,141,204.82 RMB in 2024, showing a slight improvement[24]. - The company received 20,491,960.19 RMB from other investment-related cash activities in 2025, a significant decrease from 319,832,842.69 RMB in 2024[24]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 56,278[10]. - The largest shareholder, Shanghai Sugar Tobacco and Alcohol (Group) Co., Ltd., held 34.88% of the shares[10]. Cost Management and Expenses - The company implemented cost control measures, resulting in a reduction in management expenses and improved financial performance compared to the previous year[8]. - Total operating costs for the first three quarters of 2025 were CNY 346,979,727.90, down from CNY 398,708,268.26 in 2024, reflecting a reduction of 13.04%[18]. - The company reported a net profit margin decline due to increased sales and management expenses, with sales expenses at CNY 59,983,811.61, down from CNY 83,963,516.58 in 2024[18]. - Research and development expenses increased to CNY 7,406,251.15, up from CNY 3,696,661.39 in the same period last year, indicating a focus on innovation[18]. - Sales revenue from mid-to-high-end products was CNY 25,480.65 million, a decline of 2.55% year-on-year, while low-end product sales dropped by 19.90% to CNY 6,835.21 million[13]. Share Performance - The company reported a basic and diluted earnings per share of -0.01 RMB for the first three quarters of 2025, compared to -0.04 RMB in 2024[21]. - The weighted average return on net assets for Q3 2025 was -0.13%, an increase of 0.60 percentage points compared to the previous year[5]. - The company incurred interest expenses of 2,206,530.91 RMB in 2025, down from 2,669,326.19 RMB in 2024, reflecting a decrease of approximately 17.3%[20]. - The company added 77 new distributors and had a total of 894 distributors by the end of the reporting period, an increase of 40 compared to the end of 2024[12].

上海金枫酒业股份有限公司 2025 年第四次独立董事专门会议的审核意见 根据《公司法》《证券法》《上市公司独立董事管理办法》和《上海证券交易所股 票上市规则》等法律法规以及《公司章程》的有关规定，上海金枫酒业有限公司(以下 简称"金枫酒业"、"公司"）独立董事于 2025 年 10 月 24 日召开专门会议，审议《金 枫酒业关于调整租赁办公场地暨关联交易的议案》，审核意见如下： 本次关联交易仅变更租赁办公场地楼层和面积,关联方、关联交易类别及定价依 据等未发生变化,租赁价格参照了当地市场价格,符合公平的市场原则,不存在损害公 司及股东,特别是中小股东利益的情况。本次调整租赁办公场地面积,符合公司实际经 菅情况,不会对公司持续经营能力以及独立性造成影响。同意该项议案提交公司董事 会审议。 独立董事 (签名): 二〇二五年十月二十四日 魏春燕 周 颖 姚岳绒 ...

Core Viewpoint - Jin Feng Liquor Industry reported a decline in revenue and net profit losses for the third quarter and the first three quarters of the year [1] Financial Performance - The revenue for the third quarter was 114 million yuan, representing a year-on-year decrease of 2.46% [1] - The net profit for the third quarter showed a loss of 2.4507 million yuan [1] - For the first three quarters, the total revenue was 330 million yuan, reflecting a year-on-year decline of 6.86% [1] - The net profit for the first three quarters resulted in a loss of 9.5867 million yuan [1]