江苏今世缘酒业股份有限公司（以下简称"公司"）第五届董事 会独立董事专门会议于 2026 年 1 月 4 日以通讯（电子邮件）方式召 开，会议通知已于 2025 年 12 月 31 日以专人送达或电话通知等方式 发出。本次会议应出席独立董事 4 人，实际出席独立董事 4 人。本次 会议的召开程序符合《中华人民共和国公司法》《中华人民共和国证 券法》《上市公司独立董事管理办法》等法律法规及《江苏今世缘酒 业股份有限公司章程》《江苏今世缘酒业股份有限公司独立董事制度》 《江苏今世缘酒业股份有限公司独立董事专门会议工作制度》的有关 江苏今世缘酒业股份有限公司 第五届董事会独立董事专门会议 江苏今世缘酒业股份有限公司 第五届董事会独立董事专门会议第六次会议决议 江苏今世缘酒业股份有限公司 第五届董事会独立董事专门会议 （本页无正文，为《江苏今世缘酒业股份有限公司第五届董事会独立董事 专门会议审核意见》签字页） 独立董事： ____________ ____________ _____________ ___________ 张卫平 刘加荣 颜云霞 王济干 江苏今世缘酒业股份有限公司 2026 年 1 月 4 日 规定 ...

一、审议通过了《关于预计2026年度日常关联交易金额的议案》 证券代码：603369 证券简称：今世缘 公告编号：2026-001 江苏今世缘酒业股份有限公司 第五届董事会第十八次会议决议公告 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。 江苏今世缘酒业股份有限公司（以下简称"公司"）第五届董事会第十八次会议于 2026年1月8日以通讯表决方式召开，会议通知已于2026年1月4日以电子邮件、专人送达 或电话通知等方式发出。本次会议应参与表决董事12人，实际参与表决董事12人。会议 的通知及召开程序符合《公司法》及公司《章程》的要求。 本次会议由董事长顾祥悦先生主持，与会董事形成决议如下： 本议案涉及关联交易，已经独立董事专门会议事前审议通过，全体独立董事一致同 意提交本次董事会审议，关联董事均已回避表决。表决结果如下： | 议案名称 | 序号 | 关联人 | 同意 | 反对 | 弃权 | 审议结论 | | --- | --- | --- | --- | --- | --- | --- | | 关于预计 | 1.01 | 江苏 ...

每经AI快讯，今世缘1月8日晚间发布公告称，公司第五届董事会第十八次会议于2026年1月8日以通讯 表决方式召开。会议审议了《关于预计2026年度日常关联交易金额的议案》等文件。 每经头条（nbdtoutiao）——培训5天就考证！滑雪教练速成班乱象调查：零基础也可报名，学时还 能"注水" （记者 张明双） ...

Core Insights - The sponsorship amount for the 2026 season of the "Su Super League" is reported to be 202 million yuan, but this information is currently deemed inaccurate as the sponsors have not yet been announced [1] - The 2026 season is expected to see an increase in the number of matches from 85 to 91, with the season set to kick off in April [1] Group 1: Sponsorship Details - The sponsorship for the 2026 season is anticipated to include a continuation of support from Jiangsu Bank at 45 million yuan, along with new sponsorship from Suhao Group at 30 million yuan [1] - The total sponsorship amount for the new season is projected to reach 202 million yuan, with the sponsorship recruitment nearing completion [1] Group 2: Growth and Popularity - The "Su Super League" has rapidly gained popularity since its inception in 2025, driven by a model of "mass participation + cultural tourism integration," leading to a total cultural and tourism consumption of over 120 billion yuan during the event [1] - The number of sponsors increased from 6 to 41 in the 2025 season, with individual sponsorship fees rising from hundreds of thousands to 3 million yuan, indicating high demand [1][2] - The league has set a new benchmark for amateur sports events in China, with an average attendance of 28,000 per match and a peak of 62,000 for the finals, alongside over 2 billion online views [2] Group 3: Future Plans - The Jiangsu Provincial Sports Bureau has confirmed that the 2026 Jiangsu City Football League will continue, with plans for optimizing player selection rules to enhance the league's characteristics and quality [2]

2026年元旦伊始，"苏超"再传喜讯——国缘V3连续两届成为"苏超"官方战略合作伙伴。继首届成功合作后，此番再度 与"苏超"携手，必将在马年演绎新的传奇。 岁序更替，华章日新。回望2025年，中国体坛最为"燃爆出圈"的大事件莫过于"苏超"。 从数据上看，这份"热闹非凡"名副其实——首届"苏超"就创造了多项纪录：从2025年5月10日至11月1日，历经85场鏖 战，现场观众累计达243.3万人次，场均约2.86万人次；总决赛观赛人数更是高达62329人，创下全国业余赛事新高。此 外，线上直播累计观看人次达22.2亿，全网话题播放量近800亿次，仅前6轮比赛便拉动全省文旅消费380亿元。 作为首届"苏超"官方战略合作伙伴及唯一白酒赞助商，国缘V3深度融入这一全民赛事，通过"抢占战略高度、助推现场 热度、燃爆球迷温度、拓展传播广度、增强文创粘度"五大维度，将赛事热血与品牌价值紧密连接。通过线上内容传播与 线下场景体验，让"V胜利喝彩"的品牌宣言广泛唱响，让"成大事，必有缘"的理念深入人心，该案例也被多所高校及营销 界誉为中国体育营销的标杆样本。 回顾往昔，"苏超"的每一步都有国缘V3相伴。2025年5月10日，揭幕 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600696 | *ST岩石 | 2.76 | -1.78% | 6.68万 | 1856.94万 | | 002304 | 洋河股份 | 62.26 | -1.77% | 4.49万 | 2.80亿 | | 000568 | 泸州老窖 | 117.12 | -1.26% | 9.37万 | 11.02亿 | | 603198 | 迎驾贡酒 | 39.78 | -1.14% | 1 5.49万 | 2.19亿 | | 600809 | 四西汾酒 | 177.49 | -0.89% | 4.46万 | 7.9567 | | 000858 | 五粮液 | 107.52 | -0.60% | 12.31万 | 13.26亿 | | 600197 | 伊力特 | 13.90 | -0.57% | 3.53万 | 4915.28万 | | 600702 | 舍得酒业 | 57.23 | -0.56% | 6.86万 | 3.94亿 | | 603589 | ...

Core Insights - The white liquor industry in 2025 is characterized by both "pain and transformation," with high inventory levels and price inversions affecting the market, leading some companies to engage in "price reduction for volume" strategies [2] - The trend of rational consumption is deepening, with "face consumption" giving way to "self-enjoyment drinking" [2] Group 1: Industry Trends - The industry is transitioning from a phase of scale pursuit to a "medium-low growth era," where leading companies must find a balance between "progress" and "stability" [4] - Major companies like Moutai and Wuliangye are focusing on long-term strategies, emphasizing market stability and adapting product offerings to align with consumer demand [4][6] - The white liquor sector has moved away from expansion, prioritizing "healthiness first" in a competitive environment [9] Group 2: Company Strategies - Moutai aims to enhance market stability by reducing the volume of high-value products and dynamically balancing product supply based on market demand [4][9] - Wuliangye has defined 2026 as a year for "marketing innovation," focusing on balancing short-term and long-term strategies, supply and demand, and development and safety [4][11] - Other companies like Jinshiyuan and Gujing Gongjiu are also emphasizing market breakthroughs, brand enhancement, and structural upgrades in their strategic plans for 2026 [6][8] Group 3: Consumer Focus - Moutai is shifting towards a consumer-centric approach, promoting a multi-channel sales model and focusing on new consumption scenarios [14] - Wuliangye is targeting new consumer demographics, including younger and female consumers, to expand its market base [14][20] - Gujing Gongjiu is integrating health products into its strategy, aiming to create new consumer experiences and lifestyle offerings [15][21] Group 4: Product Innovation - The industry is witnessing a generational shift in consumer preferences, with younger consumers showing less interest in traditional liquor [17] - Wuliangye is launching lower-alcohol products and innovative experiences to attract younger consumers [17][20] - Gujing Gongjiu has introduced a "light degree" concept with new product lines aimed at younger audiences, enhancing its retail experience [21] Group 5: Collaborative Ecosystem - Companies are moving towards a collaborative ecosystem, viewing distributors as integral to brand development rather than mere sales channels [11][13] - The focus is on building a "shared destiny" between manufacturers and distributors, emphasizing risk-sharing and mutual benefits [11][13]

证券之星消息，1月6日白酒板块较上一交易日上涨0.39%，洋河股份领涨。当日上证指数报收于 4083.67，上涨1.5%。深证成指报收于14022.55，上涨1.4%。白酒板块个股涨跌见下表： 从资金流向上来看，当日白酒板块主力资金净流出3701.37万元，游资资金净流入1.28亿元，散户资金净 流出9101.38万元。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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600800 | 山西汾酒 | 8070.42万 | 8.74% | -3182.56万 | -3.45% | -4887.86万 | -5.30% | | 000568 泸州老窖 | | 6497.93万 | 5.02% | 4767.49万 | 3.68% | -1.13 Z | -8.71% | | 002304 洋河股份 | | 1922.16万 | 6.29% | -1153.52万 | -3.78% | -768 ...

Investment Rating - The report maintains a "Recommendation" rating for the liquor industry, indicating an expectation that the industry index will outperform the benchmark index by more than 5% in the next 3-6 months [21]. Core Insights - The report highlights that the demand for liquor is showing weak recovery, with a year-on-year decline of over 20% during the New Year period, although there is a slight month-on-month improvement from November and December [4]. - The report notes that the high-end liquor prices are under pressure, with a decline of over 10% for high-end products and 5-10% for mid-range products, while the mass consumption segment remains resilient [4]. - The report anticipates a narrowing of the decline in demand for the upcoming Spring Festival, with expectations of a double-digit decline but less severe than during the New Year [4]. - The report emphasizes that the pricing for high-end liquor will remain under pressure, with expectations of continued marginal declines in prices [4]. Industry Overview - The liquor industry consists of 20 listed companies with a total market capitalization of 288.22 billion yuan and a circulating market value of 288.18 billion yuan [1]. - The report provides a comparative performance analysis, indicating absolute performance declines of -6.0% over one month, -1.4% over six months, and -9.9% over twelve months [2]. Company Feedback and Strategies - Moutai is focusing on market-oriented transformation and has introduced a digital platform to stimulate consumer demand [5]. - Wuliangye is emphasizing sales growth and market order maintenance, with a strategy to enhance market share in the 800 yuan price range [5]. - Luzhou Laojiao plans to increase subsidies and rebates to ensure consumer affordability while maintaining its brand position [5]. - Shanxi Fenjiu is focusing on key markets and maintaining growth momentum for its premium products [5]. - Yanghe is adjusting its sales strategies based on terminal orders and distributor inventory, with a focus on maintaining reasonable inventory levels [5]. - Jinsiyuan is experiencing growth in its mass price segment, which is expected to continue contributing to overall growth [5]. Investment Recommendations - The report suggests that pessimistic factors have been priced in, and as the Spring Festival approaches, demand is expected to recover, particularly for Moutai and Gujing [4]. - The report recommends focusing on Moutai for its high certainty and dividend yield, while also highlighting Gujing as a key player in the mass price segment [4].

华创证券研报指出，近期今世缘召开以"向新奋进，向质图强"为主题的2026今世缘发展大会，回顾总 结"十四五"发展成果，谋划部署"十五五"重点工作。展望春节，公司要求回款进度45%，预计整体销售 额或因消费结构下移、单品价格回落而有所下滑，但开瓶数有望持平或微降，主要系"乡镇精耕"带来的 下沉市场渗透、以及苏中与省外市场的拓展，预计淡雅在春节期间可贡献更多增量。锚定百亿规模稳中 求进，维持"强推"评级。公司年内主动调节报表释放节奏，以缓解渠道库存与价盘压力，省内动销和份 额仍优于竞品。发展大会上公司目标稳中求进、布局保持积极，努力维持"十五五"期间省内优势。结合 公司运营情况，该行维持25-27年EPS预测值为2.17/2.24/2.48元。考虑外部需求压力持续较大，给予26年 20x-25xPE，调整目标价至45元-56元，维持"强推"评级。 ...