公司 2024 年度股东大会审议通过了《关于回购公司部分境内上市外资股（B 股）股 份方案》（以下简称"《回购方案》"）和《关于回购股份授权的议案》。 截止至目前，《回购方案》已实施完毕，公司累计回购 B 股股份数量为 12,430,000 股。 根据《回购方案》，上述回购的 B 股将予以注销；注销完成后，公司股份总数由 669,670,128 股变更为 657,240,128 股，公司注册资本由 669,670,128 元减少至 657,240,128 元。 | 序 | | | 修改前 | | 修改后 | 说 | | --- | --- | --- | --- | --- | --- | --- | | 号 | | | | | | 明 | | | 所在条目 | | 内容 | 所在条目 | 内容 | | | 1 | 第六条 | | 公司注册资本为人民币 | 第六条 | 公司注册资本为人民 | | | | | | 669,670,128 元。 | | 币 657,240,128 元。 | | | 2 | 第 二 十 | 一 | 公司已发行的股份数为 | 第二十一条 | 公司已发行的股份数 | | | | 条 | ...

关于召开 2025 年第三次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 证券代码：000869、200869 证券简称：张裕 A、张裕 B 公告编号：2025－临 47 烟台张裕葡萄酿酒股份有限公司 一、召开会议的基本情况 1、股东会届次：2025 年第三次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所股票上市 规则》《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》等法 律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4、会议时间： (1)现场会议时间：2025 年 12 月 02 日 14:00 (2)网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 12 月 02 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投 票的具体时间为 2025 年 12 月 02 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会 ...

证券代码：000869、200869 证券简称：张裕 A、张裕 B 公告编号：2025－临 45 烟台张裕葡萄酿酒股份有限公司 2025 年第二次临时董事会决议公告 公司及董事会全体成员保证公告内容的真实、准确和完整,没有虚假记载、误导性陈 述或者重大遗漏。 一、董事会会议召开情况 1、发出会议通知的时间和方式：本次会议的通知和议案于 2025 年 11 月 7 日通过电子邮件、传真、专人送达等方式告知全体董事和有关高级管 理人员。 2、召开会议的时间、地点和方式：2025 年 11 月 13 日以通讯表决方 式举行。 3、董事出席会议情况：会议应到会董事 14 人，实际到会董事 14 人。 4、会议的主持人和列席人员：董事长周洪江先生主持了会议；公司有 关高级管理人员列席了会议。 会议逐项审议了各项议案，并以记名表决的方式形成如下决议： 1、关于变更注册资本并修订《公司章程》的议案 与会董事以 14 票赞成，0 票弃权，0 票反对的结果通过了该议案; 详 5、本次董事会会议的召开符合有关法律、行政法规、部门规章、规范 性文件和公司章程的规定。 二、董事会会议审议情况 三、备查文件 1、经与会董事签字并加盖董 ...

Market Performance - The non-liquor sector increased by 0.74% compared to the previous trading day, with ST Xifa leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Stock Highlights - ST Xifa (000752) closed at 12.22, with a rise of 2.43% and a trading volume of 58,400 shares, amounting to a transaction value of 70.30 million [1] - CITIC Nia (600084) closed at 5.96, up 2.41%, with a trading volume of 96,700 shares and a transaction value of 57.06 million [1] - Pearl River Beer (002461) closed at 9.84, increasing by 2.18%, with a trading volume of 192,200 shares [1] - Huichuan Beer (600573) closed at 12.33, up 1.57%, with a trading volume of 66,740 shares and a transaction value of 82.34 million [1] Fund Flow Analysis - The non-liquor sector experienced a net outflow of 67.92 million from institutional investors, while retail investors saw a net inflow of 105 million [2] - The main stocks with significant fund flow include: - Piao Pan Sha Xu (600600) with a net inflow of 18.97 million from institutional investors [3] - CITIC Nia (600084) with a net inflow of 3.87 million from institutional investors [3] - ST Xifa (000752) with a net inflow of 3.01 million from institutional investors [3]

Group 1 - The stock price of Zhang Yu A (000869) closed at 21.52 yuan on November 6, 2025, with no change, a turnover rate of 0.34%, a trading volume of 15,400 shares, and a transaction amount of 33.113 million yuan [1] - On November 6, there was a net inflow of 635,100 yuan from main funds, while retail investors showed a net outflow [5][6] - The company received suggestions from investors regarding potential acquisitions and market strategies, indicating a need for expansion in the health wine sector and regional market penetration [2][3][4] Group 2 - Investors expressed concerns about the long-term performance of Zhang Yu B shares, questioning their value and suggesting a buyback strategy [2] - The company acknowledged investor feedback and expressed appreciation for the suggestions, indicating a willingness to consider them [2][4] - There was a notable difference in fund flows, with retail investors experiencing a net outflow of 639.82 million yuan, while speculative funds saw a net inflow of 576.31 million yuan [6]

Core Viewpoint - The visit of the Yantai wine industry delegation to Greece and Romania aims to promote the Yantai wine region and enhance international cooperation along the "Belt and Road" initiative, resulting in significant achievements and expanded networks for the "Micro-drunk Yantai" brand [1][2]. Group 1: Promotion Activities - The delegation organized two major promotional events: a Yantai wine region promotion in Athens, Greece, and a wine tasting exchange in Bucharest, Romania, showcasing the region's charm and wine industry advantages [2][4]. - The events attracted participation from over ten key wine-producing regions in Greece and Romania, including industry associations, renowned wineries, and media representatives [4]. Group 2: Strategic Partnerships - A memorandum of cooperation was signed between Zhangyu Group, a leading Chinese wine company, and the largest local wine distributor in Romania, Vitruvius Group, marking a significant partnership that opens sales channels in Eastern Europe for Yantai wines [7]. - Several Romanian and Greek wine producers expressed strong interest in Yantai's wine production equipment, leading to multiple preliminary cooperation intentions regarding distillers and oak barrels [7]. Group 3: Industry Strengths - The visit highlighted the competitive advantages of Yantai's wine-related industries, including high-end equipment and basic materials like bottles and corks, which attracted attention from overseas companies due to their craftsmanship and competitive pricing [7][8]. - The overall strategy of the Yantai wine industry chain emphasizes a comprehensive approach to collaboration, showcasing both product branding and the strength of supporting industries, thereby fostering deeper cooperation with Greece and Romania [8].

Market Overview - The non-baijiu sector increased by 0.21% compared to the previous trading day, with CITIC Neya leading the gains [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Stock Performance - CITIC Neya (600084) closed at 5.71, up 5.16% with a trading volume of 131,300 shares and a turnover of 74.32 million yuan [1] - ST Yedao (600238) closed at 7.00, up 4.48% with a trading volume of 132,900 shares and a turnover of 91.91 million yuan [1] - Mogao Co. (600543) closed at 6.33, up 2.76% with a trading volume of 96,700 shares and a turnover of 61.06 million yuan [1] - Weilang Co. (603779) closed at 7.17, up 2.14% with a trading volume of 173,600 shares and a turnover of 52.49 million yuan [1] Capital Flow - The non-baijiu sector experienced a net outflow of 15.33 million yuan from institutional investors, while retail investors saw a net inflow of 2.30 million yuan [2] - The main capital inflow was observed in Zhujiang Beer (002461) with a net inflow of 12.44 million yuan from institutional investors [3] - ST Yedao (600238) had a net inflow of 9.26 million yuan from institutional investors, but a net outflow from retail investors [3] Summary of Key Stocks - Zhujiang Beer (002461) had a net inflow of 12.44 million yuan from institutional investors, but a net outflow of 22.97 million yuan from retail investors [3] - ST Yedao (600238) saw a net inflow of 9.26 million yuan from institutional investors, with a net outflow from both retail and speculative investors [3] - CITIC Neya (600084) had a net inflow of 2.54 million yuan from institutional investors, while retail investors experienced a net outflow [3]

Core Viewpoint - The domestic wine industry in China is experiencing a significant downturn, with both domestic and imported wine markets showing declining trends, while non-alcoholic wine imports are witnessing double-digit growth, potentially offering a new growth avenue for the industry [1][6]. Group 1: Domestic Wine Market Performance - In the first three quarters of the year, major domestic wine companies reported a decline in performance, with Zhangyu's revenue at 2.12 billion yuan, down 3.7% year-on-year, and a net profit of 191.7 million yuan, down 31% [2]. - Other companies like Weilang and CITIC Nia also reported significant revenue declines of 17.4% and 2.2%, respectively, indicating a broader trend of financial struggles within the industry [2][5]. - The overall market for bottled wine under 2 liters saw a 15% decrease in import value, amounting to 1 billion USD, and a 3.4% drop in import volume [5]. Group 2: Changes in Consumer Behavior - The decline in wine consumption is attributed to changing consumer preferences, with a notable shift towards social drinking rather than home consumption, which has not kept pace with market demands [6]. - The economic environment has impacted wine consumption, as it is considered a non-essential product, leading to a long-term decline in consumption scenarios [5][6]. Group 3: Opportunities in Non-Alcoholic Wine - The import of low-alcohol and non-alcoholic products is on the rise, with low-alcohol beverage imports increasing by 31.4% and non-alcoholic beverage imports by 23.1% in the first eight months of 2025 [6][8]. - Industry experts believe that the growth of non-alcoholic wine is not a short-term trend but a structural long-term opportunity driven by health-conscious consumer behavior [8]. - The market for non-alcoholic wine is expected to face challenges such as consumer awareness, brand fragmentation, and technical barriers, with widespread acceptance anticipated by 2030 [8].

Market Overview - The non-liquor sector increased by 0.1% on October 31, with *ST Yedao leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - The top performers in the non-liquor sector included: - *ST Yedao: Closed at 6.70, up 1.67% with a trading volume of 76,500 shares [1] - Zhirun Co.: Closed at 25.18, up 1.37% with a trading volume of 80,700 shares [1] - Jinfeng Wine: Closed at 5.71, up 1.24% with a trading volume of 90,100 shares [1] - Other notable stocks included: - Huichuan Beer: Closed at 11.41, up 1.06% [1] - ST Xifa: Closed at 11.25, up 0.81% [1] Capital Flow - The non-liquor sector experienced a net outflow of 44.38 million yuan from institutional investors, while retail investors saw a net inflow of 51.71 million yuan [2] - The capital flow for specific stocks showed: - *ST Yedao: Net outflow of 6.65 million yuan from institutional investors [3] - Zhujiang Beer: Net inflow of 328,580 yuan from institutional investors [3] - Huichuan Beer: Net inflow of 105,040 yuan from institutional investors [3]

Market Overview - The non-baijiu sector increased by 0.32% compared to the previous trading day, with Kuaijishan leading the gains [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Stock Performance - Kuaijishan (601579) closed at 22.75, up 5.42% with a trading volume of 243,600 shares [1] - Other notable stocks include: - Jiu You Xian Jiu (000729) at 11.83, up 1.02% [1] - Chongqing Beer (600132) at 53.50, up 0.96% [1] - Gu Zhi Lang La (600600) at 65.70, up 0.20% [1] - The overall performance of the non-baijiu sector showed mixed results, with several stocks experiencing declines [1][2] Capital Flow - The non-baijiu sector saw a net outflow of 47.92 million yuan from institutional investors, while retail investors contributed a net inflow of 8.39 million yuan [2] - Notable capital flows include: - Kuaijishan had a net inflow of 77.35 million yuan from institutional investors, but a net outflow of 78.27 million yuan from retail investors [3] - Zhujiang Beer (002461) experienced a small net inflow from retail investors of 2.12 million yuan despite a net outflow from institutional and speculative investors [3]