证券日报网讯 12月24日，金枫酒业在互动平台回答投资者提问时表示，资产注入属于重大事项，以上 市公司信息披露为准。目前公司没有应披露而未披露的事项。2026年，公司将把握市场机遇，聚焦"扩 规模控成本提效率增效益"的工作主题，在深耕市场、开拓区域、创新业务、内部协同、降本增效、品 牌焕新、科技赋能上加大力度，推动企业业绩增长。 （文章来源：证券日报） ...

Core Viewpoint - The company emphasizes its commitment to leveraging national policies aimed at expanding domestic demand and stimulating consumption, focusing on optimizing product layout and enhancing profitability through cost reduction and channel optimization [2] Group 1 - The company will actively seize opportunities related to national policies and continuously optimize its product layout [2] - The focus will be on core business operations, aiming to solidify the foundation for growth through cost reduction and efficiency improvements [2] - The company plans to enhance its profitability while concentrating on product innovation and expanding its market presence [2]

Group 1 - The non-white liquor sector increased by 0.16% on December 16, with Huichuan Beer leading the gains [1] - The Shanghai Composite Index closed at 3824.81, down 1.11%, while the Shenzhen Component Index closed at 12914.67, down 1.51% [1] - Key stocks in the non-white liquor sector showed varied performance, with the highest gain being 3.23% for Yuanzhi Ban [1] Group 2 - The non-white liquor sector experienced a net outflow of 25.06 million yuan from main funds, while retail investors saw a net inflow of 53.38 million yuan [2] - The trading volume and turnover for key stocks in the non-white liquor sector varied, with Yuanzhi Ban achieving a turnover of 421 million yuan [1][2] - The net inflow from retail investors was significant, indicating a potential shift in market sentiment towards the non-white liquor sector [2][3] Group 3 - Specific stocks like Baorun Co. and Huichuan Beer had notable net inflows from retail investors, while others like ST Lanhua and Jin Feng Wine experienced net outflows [3] - The data indicates a mixed sentiment among institutional and retail investors, with some stocks attracting retail interest despite overall sector outflows [3] - The performance of individual stocks varied significantly, highlighting the importance of stock selection within the non-white liquor sector [3]

每经AI快讯，有投资者在投资者互动平台提问：请问贵公司产品有无出口业务？如果有，其中是否包 含欧盟国家？ 金枫酒业（600616.SH）12月10日在投资者互动平台表示，公司有含欧盟的出口业务，但总量不大。 （文章来源：每日经济新闻） ...

Core Viewpoint - The non-baijiu sector experienced a slight decline of 0.01% on November 28, with Qingdao Beer leading the drop, while the overall market indices showed positive movements [1] Market Performance - The Shanghai Composite Index closed at 3888.6, up 0.34% - The Shenzhen Component Index closed at 12984.08, up 0.85% [1] Non-Baijiu Sector Stock Performance - Notable gainers in the non-baijiu sector included: - Mogao Co., Ltd. (600543) with a closing price of 6.29, up 2.11% - Huichuan Beer (600573) at 12.15, up 2.10% - ST Lanhua (000929) at 8.54, up 1.91% - Weilang Co., Ltd. (603779) at 7.02, up 1.15% - Jinfeng Wine Industry (600616) at 5.65, up 1.07% [1] Capital Flow Analysis - The non-baijiu sector saw a net outflow of 121 million yuan from institutional investors - Retail investors contributed a net inflow of 78.65 million yuan, while speculative funds saw a net inflow of 42.59 million yuan [1]

Core Insights - The report analyzes the current state, market environment, consumer characteristics, and future direction of the Huangjiu industry in China, highlighting its transition period between tradition and innovation, facing both challenges and opportunities from policies and market dynamics [1][2]. Industry Overview - Huangjiu production is widespread across China, with a concentration in the Jiangsu, Zhejiang, and Shanghai regions, particularly in Shaoxing, which is recognized as the "Hometown of Huangjiu" [15]. - Leading companies such as Guyue Longshan and Kuaijishan are driving industry development, with a focus on high-end and innovative products to attract younger consumers [15][2]. Market Performance (2024-2025) - The Huangjiu industry is expected to see a rise in both volume and price, with total revenue projected to reach 20 billion yuan in 2024, reflecting a 5.26% increase year-on-year [21]. - The three A-share Huangjiu listed companies reported a combined revenue of 4.146 billion yuan in 2024, marking a 10% increase from the previous year [22]. - Online sales for the top three companies surged by 42.3% year-on-year, indicating a strong shift towards e-commerce channels [26]. Market Environment - Continuous policy support has been observed, with Huangjiu being recognized as a classic industry, leading to various local governments implementing supportive measures [2]. - Major companies have collectively raised prices, enhancing the revenue share of mid-to-high-end products [2]. Consumer Insights - Male consumers dominate the market, accounting for 68.7%, with the primary age group being over 25 years old [2]. - Consumption scenarios primarily include social gatherings and family meals, with health and wellness being key motivators for purchasing decisions [2]. Future Development Suggestions - The report suggests several strategies for the Huangjiu industry, including leveraging traditional techniques for product innovation, enhancing brand culture, and promoting national and international expansion [2]. - The industry faces challenges in internationalization, particularly in cultural differences and channel development, necessitating a collaborative effort across the sector [2].

Core Viewpoint - Jin Feng Wine Industry's stock price has shown a slight increase year-to-date but has experienced a decline in recent trading days, indicating potential volatility in the market [1][2]. Financial Performance - For the period from January to September 2025, Jin Feng Wine Industry reported operating revenue of 330 million yuan, a year-on-year decrease of 6.86% [2]. - The company recorded a net profit attributable to shareholders of -9.59 million yuan, which represents a significant year-on-year increase of 67.68% [2]. Stock Market Activity - As of November 20, Jin Feng Wine Industry's stock price was 5.67 yuan per share, with a market capitalization of 3.793 billion yuan [1]. - The stock has seen a year-to-date increase of 0.35%, but has declined by 4.55% over the last five trading days, 3.41% over the last 20 days, and 5.50% over the last 60 days [1]. Shareholder Information - As of September 30, the number of shareholders for Jin Feng Wine Industry was 56,300, a decrease of 4.55% from the previous period [2]. - The average number of circulating shares per shareholder increased by 4.76% to 11,887 shares [2]. Dividend Distribution - Since its A-share listing, Jin Feng Wine Industry has distributed a total of 794 million yuan in dividends [3]. - Over the past three years, the cumulative dividend payout has been 86.97 million yuan [3].

Market Overview - The non-liquor sector experienced a decline of 0.95% on November 18, with Yanjing Beer leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Key stocks in the non-liquor sector showed varied performance, with ST Xifa closing at 12.32, up 0.49%, while other notable declines included Caijing Beer down 2.41% to 12.14 and Huichuan Beer down 2.41% to 12.15 [2] - The trading volume and turnover for selected stocks indicated significant activity, with Chongqing Beer recording a turnover of 1.33 billion and ST Xifa at 47.48 million [1][2] Capital Flow - The non-liquor sector saw a net outflow of 109 million from major funds, while retail investors contributed a net inflow of 115 million [2] - Detailed capital flow data showed that ST Xifa had a net inflow of 671,900 from major funds, while other stocks like ST Yedao experienced significant outflows [3]

Group 1 - The core viewpoint of the news is that Jin Feng Wine Industry has shown a positive stock performance with a 4.25% increase in stock price year-to-date and a 2.08% increase on November 10, reaching 5.89 yuan per share [1] - As of November 10, the company had a market capitalization of 3.94 billion yuan and a trading volume of 49.95 million yuan, with a turnover rate of 1.28% [1] - The company has seen a net inflow of main funds amounting to 3.47 million yuan, with significant buying from large orders [1] Group 2 - For the period from January to September 2025, Jin Feng Wine Industry reported operating revenue of 330 million yuan, a year-on-year decrease of 6.86%, while the net profit attributable to shareholders was -9.59 million yuan, an increase of 67.68% year-on-year [2] - The company has a total of 56,300 shareholders as of September 30, which is a decrease of 4.55% from the previous period, with an average of 11,887 circulating shares per shareholder, an increase of 4.76% [2] Group 3 - Since its A-share listing, Jin Feng Wine Industry has distributed a total of 794 million yuan in dividends, with 86.97 million yuan distributed over the past three years [3]

Market Overview - On November 7, the non-liquor sector declined by 0.18% compared to the previous trading day, with *ST Lanhuang leading the decline [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Stock Performance - Notable stock performances in the non-liquor sector included: - Mogao Co., Ltd. (600543) closed at 6.49, up 0.46% with a trading volume of 48,300 shares and a turnover of 31.33 million yuan [1] - Jiu You Limited (000729) closed at 11.71, up 0.26% with a trading volume of 100,500 shares and a turnover of 118 million yuan [1] - Huaiqiang Mountain (601579) closed at 21.43, up 0.23% with a trading volume of 110,300 shares [1] - *ST Lanhuang (000929) closed at 8.63, down 1.82% with a trading volume of 30,400 shares and a turnover of 26.38 million yuan [2] Capital Flow - The non-liquor sector experienced a net outflow of 54.49 million yuan from institutional investors, while retail investors saw a net inflow of 38.48 million yuan [2] - The capital flow for specific stocks showed: - Zhujiang Beer (002461) had a net inflow of 4.25 million yuan from institutional investors, but a net outflow of 3.61 million yuan from retail investors [3] - *ST Lanhuang experienced a net outflow of 1.70 million yuan from institutional investors [3]