九月的吉林梨树，秋高气爽，苍穹如洗。站在松辽平原的腹地极目远眺，一望无际的高粱地如红色海洋 般铺展，秋风拂过，层层红浪翻滚。这里是北纬43°"黄金种植带"，是世界稀有的黑土核心区，也是汾 酒绿色原粮基地版图上的一颗明珠。 循着这抹高粱红，9月16日至 17 日，"走进汾酒第一车间"落脚在这片土地之上，农业专家、地理学者、 酒业研究者与媒体代表跨越山河，于田野间展开沉浸式的对话，溯源清香白酒的生命起点。 在一场场对话中，黑土肥沃奥秘、原粮生长智慧与清香汾酒的关联被层层揭开。透过多元视角，"走进 汾酒第一车间"这一持续五年IP背后，汾酒对原粮的坚守、对文化的传承与对行业的引领，也愈发清晰 地呈现在众人眼前。 黑土生金，天赐粮源 一粒高粱孕出汾酒的清香底色 黑土，是这场关于品质与风味的对话中，第一个无法绕开的关键词。 黑土的诞生，是地理演化的奇迹：数万年前，松辽平原曾是广袤的湖泊与沼泽，水生植被、草本植物年 复一年枯荣交替，残骸在缺氧的环境中缓慢分解，历经地质变迁与气候更迭，最终沉积为厚度30–100厘 米的黑土层。 千万年沉积的馈赠，这片土地因此也被誉为"耕地中的大熊猫"的沃土，有机质含量是普通耕地的数倍。 在东 ...

证券代码：600809 证券简称：山西汾酒 公告编号：临 2025-028 山西杏花村汾酒厂股份有限公司 关于召开 2025 年半年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法律责任。 重要内容提示： 投资者可于 2025 年 9 月 24 日（星期三）至 9 月 30 日（星期二） 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 sxfj@fenjiu.com.cn 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。 山西杏花村汾酒厂股份有限公司（以下简称"公司"）已于 2025 年 8 月 29 日发布公司 2025 年半年度报告，为便于广大投资者更全面 深入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 9 日（星期四）15:00-16:00 举行 2025 年半年度业绩说明会， 就投资者关心的问题进行交流。 一、 说明会类型 本次业绩说明会以网络互动形式召开，公司将针对 2025 年半年 度的经营成果及财务指标的具体情况与投资者 ...

9月22日，A股三大指数集体收涨。 热门ETF中，食品饮料ETF天弘（159736）截至收盘跌1.22%，成交额超2800万元，净申购达8400万 份。成分股中，中粮糖业涨1.48%，粤桂股份、国投中鲁、华统股份等多股跟涨。 此外，在资金流向方面，Wind数据显示，截至9月19日，食品饮料ETF天弘（159736）已连续4日获资金 净流入，累计"吸金"7435万元。 食品饮料ETF天弘（159736）紧密跟踪中证食品饮料指数，该指数以中证全指为样本空间，选取归属于 饮料、包装食品与肉类两个行业的上市公司股票作为成分股。十大重仓股包括贵州茅台、伊利股份、五 粮液、山西汾酒、泸州老窖、海天味业等多只大市值龙头股。此外，食品饮料ETF天弘（159736）还配 置了场外联接基金（A: 001631；C: 001632）。 华创证券表示，重视白酒底部催化，大众品精选产业趋势。白酒二季度报表加速出清，头部白酒等传统 消费步入底部吸筹期，后续旺季催化有望推动估值回升。大众品精选产业趋势，零食、饮料、黄酒等表 现较好，而传统板块啤酒、乳业等传统龙头ROE已实现开始改善。 国元证券认为，白酒方面，双节将至，建议密切追踪批价和动 ...

Core Viewpoint - The article discusses the planned share reduction by Huachuang Xinrui, a major shareholder of Shanxi Fenjiu, which aims to reduce its stake by up to 1.33% due to fund expiration arrangements [2][5][7]. Summary by Sections Shareholder Reduction Plan - Huachuang Xinrui intends to reduce its holdings by no more than 16.2 million shares, representing a maximum of 1.33% of the total shares [6][5]. - The reduction will be executed through block trading and is scheduled to occur within three months following the disclosure of the plan [6][5]. Background on Shareholding - Huachuang Xinrui currently holds 128 million shares, accounting for 10.50% of Shanxi Fenjiu's total share capital [5]. - The shareholder structure indicates that China Resources Holdings owns 87.36% of Huachuang Xinjing, while the remaining 12.64% is held by the United Fund [5]. Historical Context - This is not the first reduction by Huachuang Xinjing; previously, it reduced its stake by 630,000 shares, which was 0.52% of the total shares, between December 2024 and February 2025 [8]. - The previous reduction was executed at prices ranging from 180.00 to 183.33 yuan per share, totaling 1.14 billion yuan [8]. Company Performance - Shanxi Fenjiu has seen a stock price increase of 12.40% year-to-date, with a current market capitalization of 244 billion yuan [3][11]. - The company reported a revenue of 360.11 billion yuan for 2024, marking a 12.79% year-on-year growth, and a net profit of 122.43 billion yuan, up 17.29% [11]. Strategic Partnership - The partnership between China Resources and Shanxi Fenjiu began in 2018, with China Resources acquiring a 11.45% stake for 5.16 billion yuan [10]. - The collaboration has led to significant operational improvements and revenue growth, particularly in expanding sales channels and modernizing management practices [10].

Group 1 - Sanya will implement new regulations limiting the annual rent increase for guaranteed rental housing to no more than 5% starting from October 18, aimed at addressing housing difficulties for new citizens and young people [2] - The rental price for guaranteed housing will be capped at 90% of the market rental price for similar properties in the same area, with a further reduction to 70% for families with an average annual disposable income below twice the previous year's urban disposable income in Sanya [2] Group 2 - Indonesia has approved the procurement of the retired Italian aircraft carrier "Giuseppe Garibaldi" for $450 million (approximately 3.2 billion RMB) through foreign loan financing [3] Group 3 - Shanghai has released a standardized dataset for humanoid robots, which will provide a unified data language for the humanoid robot industry, facilitating the transition from technical exploration to large-scale implementation [5] Group 4 - The game "Delta Force" has achieved a daily active user (DAU) count of over 30 million, marking a net increase of 10 million users in just two months [6] Group 5 - Shanxi Fenjiu announced that its shareholder Huachuang Xinrui plans to reduce its stake by up to 1.33% through block trading, due to a fund expiration arrangement [8] Group 6 - CITIC Securities suggests focusing on resource stocks, consumer electronics, innovative pharmaceuticals, and gaming as key investment areas, while also emphasizing the importance of China's manufacturing sector's globalization [9] Group 7 - GAC Group has invested $19 million in a KD factory in Cambodia, which will have an annual production capacity of 15,000 vehicles and is expected to commence production in January 2026 [10] Group 8 - Huawei has launched the "Tian Gong Plan," committing 1 billion RMB to support the HarmonyOS AI ecosystem, focusing on the development of AI services and frameworks [11] Group 9 - NIO's president expressed support for the recent regulatory actions aimed at addressing network chaos in the automotive industry, emphasizing the importance of fair competition for the sector's development [12]

Core Viewpoint - The liquor industry is experiencing a mixed performance as it enters the peak season, with demand showing improvement on a month-over-month basis but still facing a 10-20% shortfall year-over-year [1] Industry Summary - The Shanghai Composite Index rose by 0.07% to 3822.59 points, while the liquor sector closed at 2294.54 points, down 1.01% [1] - A total of 19 liquor stocks declined, with Shede Liquor leading the drop at 3.08% [1] - Major liquor companies such as Kweichow Moutai, Wuliangye, Shanxi Fenjiu, Luzhou Laojiao, and Yanghe Brewery saw varying stock price changes, with Kweichow Moutai closing at 1457.00 CNY per share, down 0.75% [1][1][1] Company Insights - According to a report from China Merchants Securities, the liquor industry is entering a peak season with overall feedback being tepid [1] - The report emphasizes the importance of focusing on supply-side changes at the enterprise level during this adjustment period, as leading companies like Moutai and Wuliangye are sending positive signals [1] - As the peak season unfolds, the direction of industry clearing will become clearer, and the bottom of the market will become increasingly evident [1]

Group 1 - Global Printing announced that shareholder Hong Kong Yuanshi International Co., Ltd. plans to reduce its stake by up to 3.2004 million shares, accounting for 1% of the total share capital, due to personal funding needs [1] - Sunflower intends to acquire 100% equity of Xi Pu Materials and 40% equity of Zhejiang Beid Pharmaceutical through a combination of share issuance and cash payment, with stock resuming trading on September 22, 2025 [1][2] - Crown Zhong Ecology is planning a change in control, leading to a temporary suspension of its stock and convertible bonds due to significant uncertainties [2] Group 2 - China Oil Engineering's wholly-owned subsidiary signed a $513 million EPC contract for an LNG pipeline project in the UAE, covering approximately 180.5 kilometers of natural gas pipeline with a 36-month construction period [3] - Shanxi Fenjiu announced that shareholder Huachuang Xinrui (Hong Kong) Co., Ltd. plans to reduce its stake by up to 16.2006 million shares, representing no more than 1.33% of the total share capital [4] - Brother Technology's subsidiary received a drug registration certificate for Iopamidol injection, which is included in the national medical insurance catalog [5] Group 3 - Lin Yang Energy is expected to win a bid for a metering equipment project from the State Grid, with an estimated total bid amount of approximately 142 million yuan [6] - Huahai Chengke received approval from the China Securities Regulatory Commission for issuing shares and convertible bonds to purchase assets and raise no more than 800 million yuan in matching funds [8] - Jindi Co. signed a framework agreement to acquire controlling interest in Unico Precision, which specializes in manufacturing gears and automotive parts [10] Group 4 - Ruifeng High Materials announced that its major shareholder plans to reduce its stake by up to 2.4 million shares, accounting for 0.9584% of the total share capital [12] - Changliang Technology's director plans to reduce his stake by 1.05 million shares, representing 0.129% of the total share capital [14] - Zhongjing Food's director plans to reduce his stake by up to 150,000 shares, accounting for 0.10% of the total share capital [16] Group 5 - Haitai Technology announced that two shareholders plan to reduce their stakes by a total of up to 2.53% of the total share capital [18] - Zhenlei Technology's chairman is under detention but the company states that control has not changed and operations remain normal [20] - Huakang Co. plans to distribute a cash dividend of 0.2 yuan per share, totaling approximately 60.61 million yuan [19]

Summary of the Conference Call on the Baijiu Industry Industry Overview - The overall sales volume in the baijiu industry has declined, with distributors expecting a 20%-30% drop in sales during the upcoming double festival period. Sales volume decreased by 40%-50% in July and August [1][2] - High-end baijiu wholesale prices are weak, with Feitian Moutai priced around 1,780 RMB. Demand for baijiu in banquet scenarios remains stable, while mid-range products perform more consistently [1][4] Key Points and Arguments - **Sales Performance**: The baijiu industry is facing significant sales pressure, with actual sales declines exceeding previous market expectations. Most regions, except for Henan, are experiencing sales drops greater than anticipated [2] - **Inventory Levels**: From June to August, the average sales volume decreased by 50%, leading to a slight increase in inventory levels compared to last year. Most distributors have higher inventory levels than the same period last year [3] - **Price Trends**: High-end baijiu products like Feitian Moutai and Wuliangye are experiencing weak wholesale prices. Feitian Moutai's price is expected to fluctuate between 1,700 and 1,800 RMB during the double festival period [4][8] - **Company Performance Adjustments**: Guizhou Moutai has lowered its annual growth target but maintains a steady collection rate compared to last year. Wuliangye is also expected to adjust its growth target due to market conditions [6][9] Company-Specific Insights - **Guizhou Moutai**: The company is increasing promotional activities for its series of products and expects a slight downward adjustment in annual growth targets, which may benefit investors by releasing risks [8] - **Wuliangye**: The company is shifting its focus from absolute growth to long-term competitiveness, with a return rate of approximately 60%-70% [9][10] - **Luzhou Laojiao**: The company is implementing a price stabilization strategy and focusing on expanding its terminal market through targeted promotions [11] - **Shanxi Fenjiu**: The company is facing significant sales declines but is maintaining a stable price point due to good relationships with distributors [13] Investment Recommendations - The report suggests focusing on companies with potential for policy-driven growth and those that can adapt to market changes, such as Jiu Gui, She De, and Shui Jing Fang. Mid-range products like Gu Qing Gong and Ying Jia Gong are also highlighted for their recovery potential [5][7] - The overall sentiment is that the baijiu industry is currently at a low point, but there are opportunities for recovery and growth in specific segments and companies [27] Additional Considerations - The impact of external factors, such as government inspections and coal supply pressures, has affected consumption patterns in various regions [12][14] - The performance of next-tier baijiu products is weaker compared to high-end and mid-range products, indicating a need for careful monitoring of new product launches [21] This summary encapsulates the key insights and trends discussed in the conference call regarding the baijiu industry, highlighting both challenges and potential investment opportunities.

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会、全体董事及相关股东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： ● 大股东持股的基本情况 截至本公告日，华创鑫睿（香港）有限公司（以下简称"华创鑫睿"）持有公司股份128,114,296股，占公 司总股本的比例为 10.50%，为公司持股5%以上股东。其中：华润创业有限公司（以下简称"华润创 业"）持有华创鑫睿 87.36% 股份，华润创业联和基金一期（有限合伙）（以下简称"联和基金"）持有华 创鑫 睿 12.64%股份。 ● 减持计划的主要内容 根据联和基金相关合作协议，其面临基金到期退出安排，需要减持其间接持有的全部公司股份，因此华 创鑫睿本次拟通过大宗交易方式减持不超过16,200,599股（含本数），自本次减持计划公开披露之日起 15个交易日后的3个月内（含3个月期满当日）实施。 此次减持完毕后，联和基金将进行清算，不再持有华创鑫睿股份。 本次减持计划不会改变华润创业对公司未来发展前景的坚定信心和对公司 长期价值的高度认可，华润 创业将通过华创鑫睿继续持有公司 ...

2018年，华创鑫睿以51.6亿元受让山西汾酒11.45%股权，成为第二大股东。随后，华润集团成为山西汾酒多轮国企改革红利的分享者。 21世纪经济报道特约记者 文静 重庆报道 9月21日，山西汾酒（600809.SH）发布公告称，其大股东华创鑫睿（香港）有限公司（下称华创鑫睿）拟通过大宗交易方式减持所持有该公司股份，不超过 16,200,599 股(含本数)，自减 山西汾酒发布公告称，这是因华润创业有限公司（下称华润创业）旗下的基金面临到期退出安排，需要减持其间接持有的全部公司股份。目前，华润创业将通过华创鑫睿继续持有山西汾酒，并不 9月21日，山西汾酒有关负责人在接受21世纪经济报道记者采访时说，自华润创业通过控股子公司入驻该公司以来，双方强强联合、优势互补，此次减持不会影响双方深度协同的长期合作关系。 华创鑫睿减持 华润集团和汾酒集团的合作是通过华创鑫睿来实现的。 公告显示，华润集团旗下的华润创业有限公司持有华创鑫睿 87.36% 股份，华润创业联和基金一期(有限合伙)(下称"联和基金")持有华创鑫睿12.64%股份。 2017年，在经历了一轮白酒行业深度调整之后，汾酒集团和山西省国资委签订了目标责任书， ...