转自：新华财经 新华财经北京8月29日电 8月29日，泸州老窖2025年上半年财报出炉。报告显示，上半年泸州老窖实现营业收入164.54亿元，实现归属于上市公司股东的净利润76.63亿元。其中，泸州老窖二 今年以来，面对白酒行业进入政策调整、消费结构转型和分化期、存量竞争"三期叠加"承压期，泸州老窖坚持以长期主义定航、价值主义破局，持续锻造穿越行业周期的韧性，企业长期向好态势 编辑：胡晨曦 ...

每经AI快讯，泸州老窖（SZ 000568，收盘价：137.19元）8月30日发布公告称，公司第十一届十四次董 事会会议于2025年8月28日以通讯表决的方式召开。会议审议了《2025年半年度报告》等文件。 2025年1至6月份，泸州老窖的营业收入构成为：酒类占比99.66%，其他占比0.34%。 每经头条（nbdtoutiao）——近120个品牌、1600辆车逐鹿西南！下半年国内首个A级车展开幕：新能 源"第三极"将改写车市格局 （记者 张喜威） ...

Group 1: Postal Savings Bank of China - The bank achieved a net profit of 49.23 billion yuan in the first half of 2025, a year-on-year increase of 0.85% [1] - Operating income reached 179.45 billion yuan, reflecting a growth of 1.50% compared to the previous year [2] - Non-interest income contributed significantly, with intermediary business income increasing by 11.59% to 16.92 billion yuan, and other non-interest income rising by 25.16% to 23.47 billion yuan [1][2] Group 2: BeiGene - The company reported a revenue of 17.52 billion yuan in the first half of 2025, marking a 46.03% increase year-on-year [3] - The net profit attributable to shareholders was 450 million yuan, indicating a turnaround from losses in the previous year [3] Group 3: United Imaging Healthcare - The company achieved an operating income of 6.02 billion yuan, a 12.79% increase year-on-year [5] - Net profit attributable to the parent company was 998 million yuan, reflecting a growth of 5.03% [5] Group 4: Great Wall Motors - The company reported an operating income of 923.35 billion yuan, a slight increase of 0.99% year-on-year [7] - Net profit attributable to shareholders decreased by 10.21% to 63.37 billion yuan, with a significant drop in net profit excluding non-recurring items by 36.39% [7][8] Group 5: Pien Tze Huang - The company experienced a decline in net profit by 17.18%, with total revenue falling by 4.81% to 53.79 billion yuan [10][11] Group 6: China Railway Construction - The company reported a revenue of 489.20 billion yuan, a decrease of 5.22% year-on-year [12] - Net profit attributable to shareholders fell by 10.09% to 107.01 billion yuan [12][14] Group 7: China Shipbuilding Industry - The company achieved a revenue of 403.25 billion yuan, an increase of 11.96% year-on-year [23] - Net profit attributable to shareholders surged by 108.59% to 29.46 billion yuan, driven by improved order structure and ship prices [23][26] Group 8: ST Huato - The company reported a revenue of 172 billion yuan, reflecting an 85.5% increase year-on-year [29] - Net profit attributable to shareholders was 26.56 billion yuan, a growth of 129.33% [29] Group 9: Guotai Junan Securities - The company achieved total revenue of 454.32 billion yuan, a significant increase of 105.18% [31] - Net profit attributable to shareholders rose by 213.74% to 157.37 billion yuan [31][33] Group 10: Minsheng Bank - The bank reported an operating income of 723.84 billion yuan, a year-on-year increase of 7.83% [35] - Net profit attributable to shareholders decreased by 4.87% to 213.80 billion yuan [35][36]

智通财经APP讯，泸州老窖(000568.SZ)发布2025年半年度报告，该公司营业收入为164.54亿元，同比减 少2.67%。归属于上市公司股东的净利润为76.63亿元，同比减少4.54%。归属于上市公司股东的扣除非 经常性损益的净利润为76.5亿元，同比减少4.30%。基本每股收益为5.21元。 公告称，报告期内，公司上下紧紧围绕"蓄势攻坚，精耕细作稳增长;顺势而为，改革创新谋发展"的发 展主题，推动营销重心向"精准触达""用户运营"转变，力争赢得长周期产业价值回报和企业的可持续发 展。 ...

新华财经北京8月29日电 8月29日，泸州老窖2025年上半年财报出炉。报告显示，上半年泸州老窖实现 营业收入164.54亿元，实现归属于上市公司股东的净利润76.63亿元。其中，泸州老窖二季度实现营业收 入71.02亿元，实现归属于上市公司股东的净利润 30.7亿元。 今年以来，面对白酒行业进入政策调整、消费结构转型和分化期、存量竞争"三期叠加"承压期，泸州老 窖坚持以长期主义定航、价值主义破局，持续锻造穿越行业周期的韧性，企业长期向好态势持续巩固。 未来，泸州老窖将紧紧围绕"蓄势攻坚，精耕细作稳增长；顺势而为，改革创新谋发展"的年度主题，推 动企业高质量发展。 （文章来源：新华财经） ...

从销售模式来看，上半年泸州老窖主要以传统渠道运营模式为主。财报数据显示，1—6月泸州老窖传统 渠道与新兴渠道运营模式分别实现营业收入154.65亿元、9.32亿元，同比提升-3.99%、27.55%。从产品 层面来看，1—6月泸州老窖旗下中高档酒类与其他酒类分别实现营业收入150.48亿元、13.5亿元，同比 下降1.09%、16.96%。 北京商报讯8月29日，泸州老窖股份有限公司（以下简称"泸州老窖"）发布《2025年半年度报告》显 示，上半年公司实现营业收入164.54亿元，同比下降2.67%；实现归属于上市公司股东的净利润为76.63 亿元，同比下降4.54%；实现经营活动产生的现金流量净额为60.64亿元，同比下降26.27%。 （文章来源：北京商报） ...

Company Announcements - SMIC plans to issue A-shares to acquire minority stakes in its subsidiary, SMIC North, leading to a temporary suspension of its stock trading for up to 10 trading days [1] - Huasheng Tiancheng's director and supervisor plan to reduce their holdings by up to 0.9984% of the total shares [2] - BYD reported a net profit of 15.51 billion yuan for the first half of the year, a year-on-year increase of 13.79% [2] - Changfei Fiber's net profit for the first half of the year was 296 million yuan, down 21.71% year-on-year [2] - Jia Yuan Technology plans to invest 500 million yuan to acquire part of the equity in Endatong, focusing on the optical module industry [1][17] - Guizhou Moutai completed the repurchase of 3.9276 million shares [1][19] Financial Performance - CEC reported a net profit of 24.641 billion yuan for the first half of the year, a decrease of 12% year-on-year [5] - Longjiang Power achieved a net profit of 13.056 billion yuan, up 14.86% year-on-year [8] - China Rare Earth reported a net profit of 162 million yuan, turning from a loss of 244 million yuan in the previous year [9] - Huayi Brothers' net profit increased by 48.34% to 2.028 billion yuan [6] - Wealth Trend's net profit grew by 6.61% year-on-year [24] Mergers and Acquisitions - Tailin Micro plans to acquire 100% of Panqi Micro's equity through a combination of cash and stock issuance [4] - Aishen Medical announced the acquisition of partial equity in three medical institutions for a total of 105 million yuan [18] Stock Movements - Guizhou Moutai's controlling shareholder plans to increase its stake by 3 to 3.3 billion yuan [15] - Ganfeng Lithium plans to invest 4 billion yuan to build a new lithium-ion battery manufacturing base [16] Market Developments - China National Offshore Oil Corporation won a bid for a project in Qatar worth approximately 4 billion USD [14] - Aishen Medical's acquisition of equity in medical institutions aims to enhance its service coverage and operational efficiency [18]

8月29日，泸州老窖发布2025年上半年业绩报告。报告显示，2025年上半年，泸州老窖实现营收 164.54亿元，实现归属于母公司所有者的净利润为76.63亿元。 泸州老窖方面表示，将继续以战略定力精准把握消费迭代与产业变革的时代脉搏，以主动转型构筑 差异化竞争优势，在品类创新、渠道变革、价值重塑中开辟新赛道，推动白酒产业高质量发展。 ...

Core Viewpoint - The article highlights the strategic adjustments made by prominent fund managers in response to the market's structural characteristics, focusing on sectors like AI, innovative pharmaceuticals, and consumer goods, while also indicating a clear divergence in the consumer sector's performance [2][3][4]. Group 1: Fund Manager Strategies - Prominent fund managers have collectively increased their positions in high-growth sectors such as AI and innovative pharmaceuticals while making structural adjustments within the consumer sector [2]. - The technology and pharmaceutical sectors have emerged as core allocation directions, with significant investments in companies like BYD (increased by 184.78%) and Alibaba (increased by 161.10%) [2]. - Fund managers are focusing on "hard technology" in the tech sector, with AI computing and robotics becoming key investment areas [4]. Group 2: Consumer Sector Dynamics - The consumer sector has shown significant structural differentiation, with fund managers displaying contrasting attitudes towards traditional liquor and new consumption trends [3]. - Some fund managers have increased their holdings in traditional liquor stocks like Wuliangye and Moutai, while others have reduced their positions in these stocks, indicating a shift towards new consumption opportunities [3][4]. - The performance of consumer companies has influenced fund adjustments, with companies like Yili achieving strong revenue growth while others like Yanghe experienced profit declines [4]. Group 3: Future Outlook - Looking ahead to the third quarter, there is optimism regarding the innovative pharmaceutical sector, driven by global collaborations and anticipated clinical data disclosures [5]. - The consumer healthcare sector is expected to continue benefiting from rising health awareness among residents, with demand for home medical devices projected to grow steadily due to an aging population [5]. - The overall economic environment is seen as favorable for investment, although structural pressures may persist, with policies aimed at reducing excessive competition likely to improve corporate profitability [5].

8月29日，泸州老窖发布2025年半年报。披露公司上半年营收164.54亿元，同比下降2.67%；净利润76.63亿元，同比下降4.54%。 | 成品酒 | 半成品酒(含基础酒) | | --- | --- | | 39, 600. 48 | 459, 209. 63 | 图片来源：企业公告截图 公告提到，上半年"百城计划"深入实施，"华东战略2.0"持续推进，"特通渠道"跨界合作不断深化，"终端大基建"专项行动正式启动，市场攻坚不断深入。数 字营销全链路升级。"五码合一"产品全国推广，经销商门户系统上线运行，营销服务平台搭建运营，渠道管理精细化水平迈上新台阶。 下半年主要工作包括，面对当前低度化、健康化、利口化、多元化等产品需求，主动创新求变，加快全新品饮方式的开发与推广，研发28度国窖1573，适时 投入市场。 因应消费分化趋势，将资源向中高端大众主流产品倾斜，积极布局高增长的光瓶酒赛道，拟推出全新的泸州老窖二曲产品，持续巩固大众市场定位。 （企业公告） | 产品分类 | 产量 | 销量 | 库存量 | 产量同比 | 销量同比 | 库存量同比 | | --- | --- | --- | --- | --- ...