专题：专题|2024年度A股董秘数据报告：1144位董秘年薪超百万 占比超21% 从学历来看，低度酒行业董秘以本科为主，占比达到75%；硕士仅4名，占比达到25%。 从薪酬来看，低度酒行业董秘薪酬主要集中在50万（含）-100万，占比为56%；100万（含）-200万有2 名，占比13%；30万（含）-50万有3名，10万（含）-30万也有2名。 有5家公司董秘薪酬在下降，其中降薪金额最大的是张裕A董秘姜建勋，降薪25.24万元。此外金枫酒业 董秘张黎云降薪18.63万元至47.61万元。古越龙山董秘吴晓钧降薪5.87万元至60.93万元。 重庆啤酒董秘邓炜薪酬最高，达到130.47万元。其次是燕京啤酒徐月香，薪酬105.16万元。张裕A董秘 姜建勋薪酬99.72万元，排第三。 薪酬最低的是莫高股份（维权）何文天，仅为14万元；其次是*ST兰黄呼星，为29.33万元。 剔除2023年开始任职的董秘数据之后，去年有5家公司董秘薪酬在增加，其中燕京啤酒董秘徐月香薪酬 增加金额最高，增加24.43万元至105.16万元。其次是惠泉啤酒董秘程晓梅，增加21.96万元至55.54万 元。 董秘作为连接投资者与上市公司的 ...

证券之星消息，8月5日非白酒板块较上一交易日上涨0.7%，金枫酒业领涨。当日上证指数报收于 3617.6，上涨0.96%。深证成指报收于11106.96，上涨0.59%。非白酒板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600616 | 金枫酒业 | 5.85 | 3.91% | 41.69万 | | 2.43亿 | | 002568 | 自润股份 | 24.97 | 2.88% | 11.19万 | | 2.77亿 | | 601579 | 会稳山 | 19.10 | 2.80% | 9.00万 | | 1.71亿 | | 600573 | 惠泉啤酒 | 12.29 | 1.24% | ﻥ 3.14万 | | 3859.93万 | | 603779 | 威龙股份 | 7.66 | 0.92% | 5.47万 | | 4178.91万 | | 600084 | 中信尼雅 | 5.67 | 0.89% | 3.31万 | | 1872.17万 | | 00 ...

Core Viewpoint - The liquor industry is undergoing unprecedented executive changes across various segments, reflecting deep-seated challenges and transformation pains amid multiple pressures such as declining performance, high inventory, and weak consumer demand [1][4]. Group 1: Executive Changes - The trend of executive turnover in the liquor industry, which began in 2024, has expanded beyond just the liquor segment to include beer and yellow wine [3]. - Notable changes in the liquor sector include the resignation of Yanghe's chairman Zhang Liandong and the appointment of Gu Yu as his successor, as well as similar transitions in other companies like Jinzhongzi and Guizhou Moutai [3]. - In the beer industry, significant leadership changes occurred with the resignation of China Resources Beer chairman Hou Xiaohai and the retirement of Zhujiang Beer chairman Wang Zhibin, leading to new appointments [3]. Group 2: Industry Challenges - The liquor industry's executive changes are indicative of a deep transformation driven by pressures from consumption shifts, intensified competition, and policy adjustments [5]. - The slowing macroeconomic growth has led to decreased consumer spending power and willingness, significantly impacting liquor products as discretionary items [5]. - The younger generation's changing consumption attitudes are influencing liquor consumption, prompting companies to seek younger management to tap into this market [5]. Group 3: Strategic Adjustments - The introduction of the "new alcohol ban" policy in May has created additional pressure on the industry, despite its limited direct impact on actual sales [5]. - The decline in government consumption from 40% in 2011 to approximately 5% in 2023 has further affected market confidence, leading to a drop in high-end liquor wholesale prices [5]. - Companies are increasingly focusing on differentiated competition and precise market segmentation to survive, developing product lines tailored to various consumption scenarios such as banquets, gifts, personal use, and collections [6].

证券之星消息，8月1日非白酒板块较上一交易日上涨0.06%，*ST兰黄领涨。当日上证指数报收于 3559.95，下跌0.37%。深证成指报收于10991.32，下跌0.17%。非白酒板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | --- | --- | --- | --- | --- | --- | --- | | 000929 | *ST兰黄 | 8.19 | 4.46% | | 6.08万 | - 4908.67万 | | 600573 | 惠泉啤酒 | 11.97 | 1.10% | | 2.60万 | 3105.44万 | | 603779 | 威龙股份 | 7.52 | 0.80% | | 7.06万 | 5312.12万 | | 600616 | 金枫酒业 | 5.63 | 0.72% | 1 | 7.29万 | 4091.76万 | | 600543 | 莫高股份 | 6.45 | 0.62% | | 8.39万 | 5448.26万 | | 002568 | 自润股份 | 24.25 | 0.58% | | 8.52万 | 2. ...

从资金流向上来看，当日非白酒板块主力资金净流出7649.92万元，游资资金净流出6309.61万元，散户资 金净流入1.4亿元。非白酒板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600238 | *ST椰岛 | 1211.33万 | 7.45% | -543.30万 | -3.34% | -668.03万 | -4.11% | | 600543 | 莫高股份 | 126.70万 | 2.46% | 142.10万 | 2.76% | -268.80万 | -5.22% | | 601579 | 会稽山 | 114.55万 | 0.91% | -151.38万 | -1.20% | - 36.83万 | 0.29% | | 002461 | 珠江啤酒 | 87.87万 | 0.80% | -821.37万 | -7.49% | 733.50万 | 6.69% | | 000752 | S ...

Industry Dynamics - In the first half of 2023, the revenue from tobacco and alcohol increased by 5.5% year-on-year, totaling 331.6 billion yuan, while June's revenue was 51.6 billion yuan, showing a decline of 0.7% year-on-year [4] - The added value of the beverage and tea manufacturing industry grew by 3.4% year-on-year in June, with a 4.7% increase in the first half of the year [4] - Four industry standards related to fermented rice wine and fruit wines were officially released, set to be implemented on February 1, 2026 [4] - A national standard for the carbon footprint quantification of liquor was included in the 2025 national standard plan [5] - The China Chain Store & Franchise Association issued a proposal to resist "involution" competition in instant retail, emphasizing the need for fair market practices and sustainable development [5] Company Dynamics - Multiple liquor companies released their performance forecasts for the first half of 2023, showing a significant divergence in results. The white liquor sector generally performed poorly, with Shui Jing Fang's net profit dropping by 56.52% and other companies like Jiu Gui Jiu and Shun Xin Agriculture also reporting substantial declines [7] - Some companies, such as Chuan Jiu Group and Qinghai Spring, reported growth in revenue and profits, while the beer sector, led by Yan Jing Beer, saw a net profit increase of 40%-50% [7] - The wine and yellow wine sectors faced losses, attributed to rising costs and inadequate market expansion [7] - The chairman of Shui Jing Fang Group was replaced, marking a significant change in leadership [10] - Hengshui Laobaigan plans to focus on three key areas in the second half of the year: deepening core market channels, enhancing differentiated operations for banquet scenarios, and accelerating the implementation of a digital marketing system [10]

Group 1 - The company Jin Feng Jiu Ye is actively exploring product innovation in the alcoholic beverage market, focusing on younger, fashionable, and differentiated products, including the development of sparkling yellow wine [1] - Jin Feng Jiu Ye's commitment to multi-category innovation in rice wine is expected to enhance its competitiveness in the industry and attract more young consumers, thereby expanding market share [1] Group 2 - Jin Hui Jiu has opened a new experience center in Xinjiang, indicating a strategic focus on this key market as part of its integrated market development strategy across Xinjiang, Qinghai, and Gansu [2] - The company plans to increase resource investment in Xinjiang to improve its sales network, which is anticipated to broaden its sales footprint and enhance brand influence and market share [2] Group 3 - Guojiao 1573 has launched the "Inspiration Fermentation Bureau" in Beijing's 798 Art District, combining art exhibitions with product offerings and dining experiences to engage younger consumers [3] - This initiative aims to break the stereotype of traditional liquor among young people, potentially expanding the consumer base and enhancing brand vitality and market competitiveness [3]

NO.2 *ST兰黄：预计上半年净亏损额同比扩大 NO.1 金枫酒业：预计上半年净亏损480万~720万元 近日，金枫酒业交出上半年"预答卷"。公司预计上半年实现归属于上市公司股东的净利润亏损480万元 ~720万元，上年同期归属于上市公司股东的净利润为亏损1560万元。 公司称，受激烈的市场竞争影响，公司销售规模缩减，营业收入下降。但公司通过组织机构调整、人员 结构优化等多项降本控费增效措施，努力改善经营绩效，与上年同期相比，归属于上市公司股东的净利 润大幅上升，亏损面收窄。 NO.3 今世缘将推进"缘二代"培育计划 近日，今世缘酒业2025年上半年工作总结大会召开。会议提到，今世缘将立足市场拓展与运营提升两手 抓，聘请第三方把脉问诊、改造优化，提升经销商现代化治理运营水平。挖掘在市场拓展、经营模式等 方面的亮点做法，特别是在终端客情维护、大客户开发等方面的成效，复制推广。 会议还提到，推进"缘二代"培育计划，对合作时间长、忠诚度高、发展贡献大的经销商，优化接班人培 养路径，抓好"后继有人"关键一环。 （文章来源：每日经济新闻） 近日，*ST兰黄公告称，预计2025年上半年归属于上市公司股东的净利润亏损10 ...

Group 1 - The company expects a net profit attributable to shareholders in the range of -4.8 million to -7.2 million yuan for the first half of 2025, representing an improvement in loss by 10.8 million to 8.4 million yuan compared to the same period last year [1][3] - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between -5.7 million and -8.1 million yuan [3] - The previous year's net profit attributable to shareholders was -15.6 million yuan, indicating a significant reduction in losses for the current period [3] Group 2 - The company has implemented various cost control measures, including organizational adjustments, personnel optimization, enhanced internal collaboration, and technological innovations to improve operational performance [2] - The total profit for the previous year was -21.53 million yuan, with a net profit of -15.6 million yuan attributable to shareholders [3] - The company emphasizes that the forecast data is preliminary and the final financial figures will be disclosed in the official 2025 semi-annual report [3]

[Shanghai Jinfeng Wine Co., Ltd. 2025 Semi-Annual Performance Forecast](index=1&type=section&id=%E4%B8%8A%E6%B5%B7%E9%87%91%E6%9E%AB%E9%85%92%E4%B8%9A%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8%202025%20%E5%B9%B4%E5%8D%8A%E5%B9%B4%E5%BA%A6%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A) [Key Highlights of Performance Forecast](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) The company forecasts a net loss for H1 2025, with attributable net profit between -4.8 million CNY and -7.2 million CNY, applicable to negative net profit scenarios Estimated Performance for H1 2025 | Metric | Estimated Amount (CNY) | | :--- | :--- | | Net Profit Attributable to Shareholders | -4.8 million to -7.2 million | | Net Profit Attributable to Shareholders After Deducting Non-Recurring Gains and Losses | -5.7 million to -8.1 million | - This performance forecast applies to the 'negative net profit' scenario as per the Shanghai Stock Exchange Listing Rules[2](index=2&type=chunk) [Details of Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%20%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) For H1 2025, the company expects a significant reduction in net loss compared to the prior year, with attributable net profit narrowing by 8.4 million CNY to 10.8 million CNY, and non-recurring net profit by 9.9043 million CNY to 12.3043 million CNY 2025 H1 Performance Forecast and Year-over-Year Change | Metric | 2025 H1 Estimate (CNY) | Year-over-Year Change (Loss Reduction) | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders | -4.8 million to -7.2 million | 8.4 million to 10.8 million | | Net Profit Attributable to Shareholders After Deducting Non-Recurring Gains and Losses | -5.7 million to -8.1 million | 9.9043 million to 12.3043 million | - This performance forecast has not been audited by a certified public accountant[3](index=3&type=chunk) [Prior Period Performance Review](index=1&type=section&id=%E4%BA%8C%E3%80%81%20%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E4%B8%9A%E7%BB%A9%E6%83%85%E5%86%B5) In the same period of 2024, the company reported a net loss attributable to shareholders of 15.60 million CNY, a non-recurring net loss of 18.0043 million CNY, and basic earnings per share of -0.02 CNY 2024 Prior Period Performance | Metric (2024 Prior Period) | Amount (CNY) | | :--- | :--- | | Net Profit Attributable to Shareholders | -15.60 million | | Net Profit Attributable to Shareholders After Deducting Non-Recurring Gains and Losses | -18.0043 million | | Earnings Per Share | -0.02 | [Analysis of Performance Change Reasons](index=1&type=section&id=%E4%B8%89%E3%80%81%20%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E4%BA%8F%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The H1 2025 loss is primarily due to intense market competition leading to reduced sales and revenue, yet the company significantly narrowed losses through cost control and efficiency measures - The performance loss is primarily attributed to intense market competition, resulting in reduced sales volume and declining operating revenue[3](index=3&type=chunk) - The narrowing of losses is due to the company's implementation of various cost reduction, control, and efficiency enhancement measures, including organizational restructuring, personnel optimization, internal synergy, centralized production procurement, and technological innovation[3](index=3&type=chunk)[4](index=4&type=chunk) [Risk Warning and Other Notes](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company confirms no material uncertainties affect the forecast's accuracy, reminding investors that these preliminary results are subject to the final 2025 semi-annual report and advising caution regarding investment risks - The company confirms no material uncertainties exist that would affect the accuracy of this performance forecast[4](index=4&type=chunk) - The company reminds investors that the forecast data is preliminary, with final figures subject to the official semi-annual report, and advises caution regarding investment risks[4](index=4&type=chunk)