从资金流向上来看，当日白酒板块主力资金净流出1.88亿元，游资资金净流入1991.9万元，散户资金净流 入1.68亿元。白酒板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 600702 | 舍得酒业 | 62.68 | 0.51% | 8.39万 | 5.29亿 | | 000568 | 泸州老窖 | 134.67 | 0.34% | 5.62万 | 7.57亿 | | 000860 | 顺鑫农业 | 15.64 | 0.13% | 4.90万 | 7671.53万 | | 685580 | 口子警 | 32.89 | -0.03% | 2.01万 | 6603.27万 | | 661009 | 金种子酒 | 10.37 | -0.10% | 4.71万 | 4896.86万 | | 002646 | 天佑德酒 | 9.79 | -0.10% | 4.36万 | 4275.16万 | | 600559 | 老白干酒 | 16.90 | -0.18% | 5.99万 | ...

Core Insights - The liquor sector experienced a slight increase of 0.14% on October 21, with *ST Rock leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Stock Performance Summary - *ST Rock (600696) closed at 5.84, with a rise of 5.04% and a trading volume of 47,600 shares, totaling 27.11 million yuan [1] - Other notable performers include Tianyoude Liquor (002646) at 9.80, up 1.34%, and Qingdao Wenzhou (000995) at 13.97, up 1.31% [1] - Major stocks like Luzhou Laojiao (000568) and Kweichow Moutai (600519) saw minor increases of 0.80% and 0.30%, respectively, with Moutai's closing price at 1462.26 and a trading volume of 25,400 shares, totaling 3.73 billion yuan [1] Capital Flow Analysis - The liquor sector saw a net inflow of 12.19 million yuan from major funds, while retail investors contributed a net inflow of 15.9 million yuan [2] - Conversely, speculative funds experienced a net outflow of 172 million yuan [2] Individual Stock Capital Flow - Kweichow Moutai (600519) had a significant net inflow of 1.26 billion yuan from major funds, while it faced a net outflow of 1.26 billion yuan from speculative funds [3] - Wuliangye (000858) reported a net inflow of 29.16 million yuan from major funds, but a net outflow of 39.27 million yuan from retail investors [3] - *ST Rock (600696) showed a net inflow of 6.38 million yuan from major funds, while retail investors withdrew 5.52 million yuan [3]

Market Overview - The liquor sector experienced a decline of 0.87% on October 13, with *ST Rock leading the drop [1] - The Shanghai Composite Index closed at 3889.5, down 0.19%, while the Shenzhen Component Index closed at 13231.47, down 0.93% [1] Individual Stock Performance - *ST Rock (600696) closed at 5.63, down 3.10% with a trading volume of 37,400 shares and a turnover of 20.94 million yuan [1] - Other notable declines include: - Si Gu Dian (000799) down 2.30% to 59.57 with a volume of 105,200 shares [1] - Gujing Gongjiu (000596) down 2.24% to 150.83 with a volume of 18,900 shares [1] - Huangtai Liquor (000995) down 2.12% to 13.83 with a volume of 39,700 shares [1] Capital Flow Analysis - The liquor sector saw a net outflow of 1.133 billion yuan from main funds, while retail funds had a net inflow of 579 million yuan [1] - The table of capital flow indicates that major stocks like Kweichow Moutai (6150009) had a net outflow of 4.91 million yuan, while retail investors contributed a net inflow of 29,500 yuan [2] - Luzhou Laojiao (000568) experienced a net outflow of 1.74 million yuan from main funds but saw a retail net inflow of 8.366 million yuan [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000860 证券简称：顺鑫农业 公告编号：2025-025 二、董事会会议审议情况 1、审议通过了《关于聘任公司证券事务代表》的议案。 公司原证券事务代表谢闯先生因工作调动原因向公司董事会申请辞去证券事务代表职务。为保证公司的 正常运作，根据《公司法》和《公司章程》的有关规定，经公司董事会审议，同意聘任于楠楠女士为公 司证券事务代表，协助董事会秘书履行职责，任期自本次董事会审议通过之日起至第九届董事会届满之 日止。 具体内容详见同日公告的《北京顺鑫农业股份有限公司关于更换公司证券事务代表的公告》（2025- 026）。 北京顺鑫农业股份有限公司 第九届董事会第二十三次会议 决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 一、董事会会议召开情况 北京顺鑫农业股份有限公司（以下简称"公司"或"顺鑫农业"）第九届董事会第二十三次会议通知于2025 年9月28日以当面送达的方式通知了公司全体董事、监事，会议于2025年10月9日在顺鑫国际商务中心12 层会议室召开，会议应出席董事9人，实际出席董事 ...

2025年1至6月份，顺鑫农业的营业收入构成为：白酒业占比78.51%，肉类加工业占比17.02%，其他占 比4.47%。 截至发稿，顺鑫农业市值为116亿元。 每经AI快讯，顺鑫农业（SZ 000860，收盘价：15.6元）10月9日晚间发布公告称，谢闯先生因工作调动 原因辞去公司证券事务代表职务。谢闯先生在公司任职证券事务代表期间勤勉尽责，为公司规范运作发 挥了积极作用，审议通过了《关于聘任公司证券事务代表》的议案，同意聘任于楠楠女士为公司证券事 务代表，协助董事会秘书履行职责。 （记者 张明双） 每经头条（nbdtoutiao）——与美元脱钩后，暴涨102倍，揭秘黄金疯涨背后神秘的"无形之手"！专家： 推动金价上涨的逻辑没有变 ...

关于更换公司证券事务代表的公告 证券代码：000860 证券简称：顺鑫农业 公告编号：2025-026 北京顺鑫农业股份有限公司 于楠楠，女，1985 年 3 月生，大学本科学历，无境外永久居留权。2008 年进入公 司工作，曾任公司董事会办公室主管，现任公司董事会办公室副主任，已取得深圳证券 交易所颁发的董事会秘书资格证书，其任职资格符合《公司法》和《深圳证券交易所股 票上市规则》的有关规定。 截至本公告披露日，于楠楠女士未持有本公司股份，与公司控股股东、实际控制 人、持有公司 5%以上股份的股东及公司其他董事、监事、高级管理人员不存在关联关 系，不存在《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运 作》规定的不得担任证券事务代表的情形，未受过中国证监会及其他有关部门的处罚和 证券交易所纪律处分，未因涉嫌犯罪被司法机关立案侦查或涉嫌违法违规被中国证监会 立案稽查，未被中国证监会在证券期货市场违法失信信息公开查询平台公示或者被人民 法院纳入失信被执行人名单，其任职资格符合有关法律、法规、深圳证券交易所及《公 司章程》的有关规定。 于楠楠女士联系方式如下： 联系电话：010-6942086 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 北京顺鑫农业股份有限公司（以下简称"公司"或"顺鑫农业"）第九届董 事会第二十三次会议通知于 2025 年 9 月 28 日以当面送达的方式通知了公司全体 董事、监事，会议于 2025 年 10 月 9 日在顺鑫国际商务中心 12 层会议室召开， 会议应出席董事 9 人，实际出席董事 9 人。会议由董事长李颖林先生主持，公司 监事、高级管理人员列席了本次会议。本次会议符合《公司法》和《公司章程》 的有关规定。 北京顺鑫农业股份有限公司第九届董事会第二十三次会议决议公告 证券代码：000860 证券简称：顺鑫农业 公告编号：2025-025 北京顺鑫农业股份有限公司 第九届董事会第二十三次会议决议公告 表决结果：有效表决票数 9 票，其中同意票 9 票，反对票 0 票，弃权票 0 票。 三、备查文件 1、公司第九届董事会第二十三次会议决议。 特此公告。 北京顺鑫农业股份有限公司 北京顺鑫农业股份有限公司第九届董事会第二十三次会议决议公告 董事会 2025 年 10 月 10 日 二、董事会会 ...

Investment Rating - The industry investment rating is "Overweight" [3][4][59] Core Insights - The overall demand for the liquor industry during the 2025 Mid-Autumn Festival and National Day is expected to decline by 20-30% year-on-year, with inventory increasing by 10-20% [3][7] - The industry is still in a bottoming phase, and patience is required for potential investment opportunities [3][7] - The report highlights that the stock price turning point may occur before the fundamental turning point, suggesting a need for cautious observation [3][7] Summary by Sections Industry Viewpoint - The report anticipates a significant decline in liquor demand, with banquet performance below expectations and gift demand decreasing [3][7] - The current high inventory levels in channels will require time to digest, and the consumption scenarios are still recovering, leading to weak demand [3][7] - Key recommendations include maintaining patience for high-dividend stocks and waiting for potential buying opportunities in quality stocks [3][7] Brand Performance - Moutai is performing the best, while Wuliangye is trading volume for price [8][9] - Moutai's expected sales decline is in single digits, with prices slightly down to around 1780-1835 yuan [8] - Wuliangye's sales are expected to drop by about 15%, with current prices around 810-830 yuan [8] - Guojiao 1573 is controlling inventory to maintain prices, with expected sales declines of 20-30% [8][9] Regional Liquor Situation - Feedback from various regions indicates a general decline in sales, with specific brands like Moutai and Wuliangye showing varying performance [11][19] - The report notes that the business and banquet consumption scenarios are under pressure, with overall sales expected to decline by 30-25% during the Mid-Autumn Festival and National Day [44][49] - The report emphasizes the need for careful monitoring of inventory levels and sales performance across different brands and regions [11][19] Valuation Table - The report includes a valuation table for key companies in the food and beverage sector, highlighting projected net profits and PE ratios for companies like Moutai, Wuliangye, and Luzhou Laojiao [53]

Core Insights - Shunxin Agriculture has achieved an A rating in the Wind ESG assessment, marking a significant advancement in the context of the generally low ESG ratings in the liquor industry [1][4] - The company has made substantial progress in sustainable development, becoming one of the few in the industry to receive such a high rating [1][4] - The liquor industry faces common challenges in ESG disclosure and management, particularly in Scope 3 carbon emissions and supply chain ESG management [1][4] Industry Overview - The liquor industry in China has a history of low ESG ratings, with only one company, Kweichow Moutai, achieving an A rating in the MSCI ESG assessment until July 2025 [4] - The complexity of the low ratings stems from a mismatch between international evaluation standards and China's unique circumstances, as well as a lack of familiarity with ESG rules among Chinese liquor companies [4] Company Practices - Shunxin Agriculture's 2024 ESG report highlights its comprehensive approach to sustainable development, including a commitment to environmental governance and social responsibility [5][6] - The company invested 5.9699 million yuan in environmental protection in 2024, achieving a 100% compliance rate for pollutant monitoring and significantly reducing energy consumption and greenhouse gas emissions [5] - In terms of social responsibility, Shunxin has a 100% product inspection pass rate and labor contract signing rate, along with a training coverage rate of 100% for employees [5] ESG Impact on Business Value - The company's ESG practices are reshaping its business value, with environmental management becoming a core competitive advantage in the liquor industry [6] - Investments in wastewater treatment and emissions control have not only mitigated environmental risks but also enhanced resource efficiency and market competitiveness [6] - Shunxin's commitment to product quality is reflected in high customer satisfaction ratings, with 91.77% for Niulanshan and 95.24% for Pengcheng, establishing a strong brand reputation [6] Future Trends - The liquor industry's competition is shifting from merely market share to a comprehensive competition that includes environmental, social, and governance factors [7] - As ESG disclosure requirements become stricter, more liquor companies are proactively publishing ESG reports, with the percentage of companies doing so rising from 50% in 2022 to 76% in 2023 [6][7]

Investment Rating - The investment rating for the company is maintained at "Accumulate" [4] Core Views - The company experienced a significant decline in revenue and profit in H1 2025, with revenue at 4.59 billion yuan (down 19.2% year-on-year) and a net profit of 170 million yuan (down 59.1%) [1][3] - The company is actively promoting product upgrades and innovative marketing strategies, which are expected to help recover performance as the economy stabilizes [1][3] Financial Summary - Revenue projections for 2024 to 2027 are as follows: 2024 at 9.13 billion yuan, 2025 at 7.80 billion yuan (down 14.5%), 2026 at 7.88 billion yuan (up 1.04%), and 2027 at 8.12 billion yuan (up 2.99%) [4] - Net profit forecasts are: 2024 at 231.2 million yuan, 2025 at 175.7 million yuan (down 23.99%), 2026 at 199.1 million yuan (up 13.34%), and 2027 at 244.8 million yuan (up 22.93%) [4] - Earnings per share (EPS) is projected to be 0.31 yuan in 2024, decreasing to 0.24 yuan in 2025, then increasing to 0.27 yuan in 2026 and 0.33 yuan in 2027 [4] Business Performance - The company's white liquor revenue in H1 2025 was 3.61 billion yuan, down 23.2% year-on-year, with high-end liquor at 530 million yuan (down 12.3%) and low-end liquor at 2.58 billion yuan (down 25.4%) [8] - The pork business generated 782 million yuan in revenue in H1 2025, a slight decline of 0.5% year-on-year, with a gross margin of only 0.01% [8] - The company's sales cash receipts were 3.469 billion yuan in H1 2025, down 17.5% year-on-year, while contract liabilities decreased by 33.47% to 385 million yuan [8]