舍得酒业股份有限公司 关于为全资子公司提供融资担保的进展公告 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法律责任。 重要内容提示： 担保对象及基本情况 证券代码：600702 证券简称：舍得酒业 公告编号：2025-046 | | 被担保人名称 本次担保金额 | 24,000 | 四川沱牌舍得营销有限公司 万元 | | --- | --- | --- | --- | | 担保 | | | | | 对象 | 实际为其提供的担保余额 | 24,000 | 万元（含本次） | | | 是否在前期预计额度内 | 是 | □否 □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 | 250,000 | | 子公司对外担保总额（万元） | | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 35.06 | 注：表中截至本公告日上市公司及其 ...

9月9日，舍得酒业x郎永淳"饮者之智 藏者之慧"新品发布会在承载百年历史的北京郡王府隆重举办。舍 得酒首个名人联名高端浓香白酒系列产品——"舍得·万木争春"与"舍得坛装酒·舍得智慧人物"正式发 布。 此次发布会是《舍得智慧人物》文化IP向商业运营延伸的深度转化，也是舍得酒在"高端私域圈层"践 行"全面向C"策略的关键布局。舍得坛装酒·舍得智慧人物与舍得·万木争春两款重量级新品的推出，不 仅是"名人流量+名酒品牌"的深度联合，也将助推舍得酒在高端私域圈层实现"品销协同"的闭环。 舍得酒业总裁唐珲，凤凰新媒体高级副总裁刘春，著名媒体人郎永淳，中国中央民族乐团中阮演奏者、 一级演员冯满天，北京大学光华管理学院教授陈玉宇等领导嘉宾及80余位来自北京文化界、健康领域、 行业学术界及企业界的核心人物出席活动，共同见证这一重要时刻。 据了解，舍得坛装酒·舍得智慧人物与舍得·万木争春两款联名产品，立足于舍得"稀缺老酒"的核心价 值，从四大维度构建其价值内涵：1.生态稀缺：坐落于北纬30.9°世界黄金酿酒带核心产区，拥有98.5% 绿植率的舍得生态酿酒工业园；2.工艺独特：采用传承400余年的"黄金酒曲"技艺，基酒皆经紫砂陶坛 ...

格隆汇9月10日｜浙商证券研报指出，舍得酒业Q2实现归母净利润0.97亿元，同比+139.48%；25H1归母 净利润4.43亿（-24.98%）。分产品看，25Q2中高档酒/普通酒实现收入7.39亿元/2.37亿元，同 比-15.65%/+62.25%。次高端价位带需求仍待恢复，T68同比增速较高。公司坚持以老酒战略为基石，推 动多品牌战略、年轻化战略和国际化战略齐头并进。公司提早进行库存去化、费用管控，上半年基本盘 较为稳固，费用管控+产品结构调整下净利润有望逐步回升。考虑到政商务消费场景承压，下调预测 2025~2027年公司收入增速至-9%、5%、10%；下调归母净利润增速至100%、11%、23%；当前股价对 应26年PE为30倍，维持"买入"评级。 ...

9月9日，舍得酒业盘中下跌2.03%，截至10:08，报66.68元/股，成交2.55亿元，换手率1.14%，总市值 221.88亿元。 资金流向方面，主力资金净流出3050.82万元，特大单买入1576.23万元，占比6.17%，卖出2766.22万 元，占比10.83%；大单买入5491.78万元，占比21.50%，卖出7352.62万元，占比28.78%。 分红方面，舍得酒业A股上市后累计派现22.90亿元。近三年，累计派现13.53亿元。 机构持仓方面，截止2025年6月30日，舍得酒业十大流通股东中，招商中证白酒指数A（161725）位居 第二大流通股东，持股1645.38万股，持股数量较上期不变。酒ETF（512690）位居第五大流通股东， 持股436.87万股，相比上期增加85.44万股。香港中央结算有限公司位居第六大流通股东，持股135.23万 股，相比上期减少96.93万股。交银启道混合（010483）位居第八大流通股东，持股132.24万股，为新进 股东。鹏华酒A（160632）退出十大流通股东之列。 责任编辑：小浪快报 舍得酒业今年以来股价涨1.79%，近5个交易日跌0.71%，近20日 ...

进一步统计，近3个月内该股累计发生2笔大宗交易，合计成交金额为695.57万元。 证券时报·数据宝统计显示，舍得酒业今日收盘价为68.06元，上涨2.25%，日换手率为4.80%，成交额为 10.89亿元，全天主力资金净流出39.55万元，近5日该股累计下跌1.86%，近5日资金合计净流出6438.63 万元。 两融数据显示，该股最新融资余额为15.35亿元，近5日减少4411.72万元，降幅为2.79%。（数据宝） 9月8日舍得酒业大宗交易一览 （文章来源：证券时报网） | 成交量 | 成交金额 | 成交价 | 相对当日收盘 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 折溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 5.61 | 381.82 | 68.06 | 0.00 | 招商证券股份有限公司 | 招商证券股份有限公司西 | | | | | | 内设营业部（自营） | 安曲江新区证券营业部 | 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 舍得酒业9月8日大宗交 ...

第1笔成交价格为68.06元，成交5.61万股，成交金额381.82万元，溢价率为0.00%，买方营业部为招商证 券股份有限公司内设营业部（自营），卖方营业部为招商证券股份有限公司西安曲江新区证券营业部。 进一步统计，近3个月内该股累计发生2笔大宗交易，合计成交金额为695.57万元。该股近5个交易日累 计下跌1.86%，主力资金合计净流出1.21亿元。 责任编辑：小浪快报 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 9月8日，舍得酒业收涨2.25%，收盘价为68.06元，发生1笔大宗交易，合计成交量5.61万股，成交金额 381.82万元。 ...

Group 1 - On September 8, Shede Liquor conducted a block trade of 56,100 shares, with a transaction amount of 3.8182 million yuan, accounting for 0.35% of the total transaction amount for that day [1] - The transaction price was 68.06 yuan, which was in line with the market closing price of 68.06 yuan [1]

近日，舍得酒业股份有限公司（简称"舍得酒业"，600702.SH）发布的半年报显示，舍得酒业上半年实现营业收入27.01亿元，较去年同期减少17.41%；实现归母净利润4.43亿元，较去年同 公开资料显示，舍得酒业是中国知名酒企，是"川酒六朵金花"之一，其以"生态、品质、文化"为核心优势，是浓香型白酒的重要代表。公司的主要业务为白酒产品的设计、生产和销售。经过多 针对业绩下降，舍得酒业在半年报中表示，当前，白酒需求短期不及预期，消费价位呈现出明显的分化趋势，行业挤压式存量竞争不断加剧。公司白酒产品销售承压，客户信心仍处于修复阶段 在严峻的行业背景下，得益于其"控量挺价"的战略，舍得酒业业绩逐渐回归正常轨道。分季度来看，舍得酒业2025年第一、第二季度分别实现营收15.76亿元、11.25亿元；受行业调整影响， 分产品来看，舍得酒业注重多价位产品合理布局，取得了显著成果。上半年，舍得酒业以"天子呼""舍之道"等为代表的中高档酒实现营收19.73亿元，毛利率高达76.82%，表现出强劲的盈利能 舍得酒业在半年报中披露，报告期内，公司坚持"老酒、多品牌矩阵、年轻化、国际化"战略，实施老酒"3+6+4"营销策略，迎难 ...

Core Insights - The Chinese liquor industry is experiencing a dual drive of consumption recovery and structural upgrades, leading to a pronounced trend of "the strong getting stronger and increased differentiation" [2][3] Group 1: Financial Performance - In the first half of the year, 19 A-share listed liquor companies reported a total revenue of 235.21 billion yuan, a year-on-year decrease of 0.5%, and a total net profit of 94.39 billion yuan, down 0.92% [2] - The top six liquor companies, including Kweichow Moutai and Wuliangye, accounted for 89.82% of the total revenue of A-share listed liquor companies, with a combined revenue of 211.25 billion yuan [2][3] - Kweichow Moutai achieved a main revenue of 89.39 billion yuan, while Wuliangye reported 52.77 billion yuan, and Shanxi Fenjiu reached 23.96 billion yuan in the first half of 2025 [3] Group 2: Market Dynamics - The market share of the top six liquor brands increased from 86.82% in 2022 to 89.82% in mid-2025, indicating a shift from the "80/20 rule" to the "90/10 rule" [4] - Kweichow Moutai's revenue share of the industry increased from 36.37% in 2022 to 38% in the first half of 2025, showcasing its strong brand moat and pricing power [4] - Shanxi Fenjiu has become a notable disruptor in the industry, achieving double-digit growth in revenue and net profit for eight consecutive years, increasing its market share from 7.68% in 2022 to 10.19% in the first half of 2025 [4] Group 3: Industry Challenges and Strategies - The liquor industry is entering a deep adjustment period characterized by policy adjustments, consumption changes, and intensified competition, where stability is deemed more important than growth [5] - Many liquor companies are enhancing promotional efforts, such as Shanxi Fenjiu's strategic branding initiatives through high-profile media appearances and cultural events [5] - The industry is shifting focus towards providing genuine value to consumers, particularly the younger generation, as blind expansion and price increases pose increasing risks [6] Group 4: Consumer Complaints - Consumer complaints in the liquor industry are primarily concentrated in three areas: product quality, marketing irregularities, and consumer experience [8] - Issues related to product quality include the prevalence of counterfeit high-end liquor and deceptive practices surrounding "vintage liquor" [8] - Marketing concerns involve false advertising in live-streaming sales and misleading pricing strategies during promotional events [8]

Core Insights - The Chinese liquor industry is undergoing a deep adjustment, with companies shifting their focus towards low-alcohol, low-priced products, and lower-tier markets due to macroeconomic pressures and changing consumer behaviors [1][6]. Group 1: Low-Alcohol Products - Several liquor companies have recently launched low-alcohol products targeting younger consumers, with notable releases including Gujing's 26-degree "Light Gu20," Wuliangye's 29-degree "Wuliangye Yijian Qingxin," and Shede's 29-degree "Shede Zizai" [2]. - The China Alcoholic Drinks Association predicts that the low-alcohol market will exceed 74 billion yuan by 2025, with a compound annual growth rate of 25% [3]. - Companies like Luzhou Laojiao are actively developing lower-alcohol products, with their 38-degree offerings now making up 50% of sales in the Guojiao 1573 series, which has surpassed 20 billion yuan in sales [3]. Group 2: Consumer Trends - The younger demographic, particularly those born in the 1980s and 1990s, along with young women, are emerging as key consumer groups, favoring personalized, low-alcohol, and aesthetically pleasing products for casual social settings [2]. - The shift in consumer preferences emphasizes a move from traditional social drinking to a focus on personal enjoyment and experience [3]. Group 3: Pricing and Market Dynamics - The demand for mid-range products is recovering slowly, while low-priced products are showing resilience, with some even experiencing growth [6]. - Wuliangye reported a production increase of 11.56% and sales growth of 12.75% for its products in the first half of 2025, driven by consumer preference for mid to low-priced options [7]. - The market is seeing a trend where high-end liquor prices are declining, and consumers are increasingly valuing cost-effectiveness, leading to a preference for lower-priced options [9]. Group 4: Market Competition and Strategy - The industry is facing intensified competition as major brands penetrate lower-priced segments, which could squeeze local brands out of their traditional markets [10][11]. - Local liquor companies are responding by launching competitively priced products, with some offering prices 20%-40% lower than similar premium products [11]. - Analysts suggest that local brands should leverage their regional advantages and focus on differentiation rather than competing on price with larger brands [11].