近日，曾经的"7日CP"皇台酒业和无忧酒业相继显新动态。 企查查显示，贵州省遵义市仁怀市人民法院于11月21日立案，将贵州无忧酒业（集团）有限公司（无忧 酒业）列为被执行人，发出（2025）黔0382执4787号—4792号文书（共6份连续执行文书），执行标的 合计6255.51万元。 此前不久（11月18日），皇台酒业公告披露，计划自公告日起6个月内，用自有资金和专项贷款，通过 二级市场集中竞价交易方式增持公司股票，计划增持总金额7000万元至1.4亿元。日前，盛达集团已收 到中国银行甘肃分行出具的不高于1.08亿元的《贷款承诺函》。 不过，今年以来，无忧酒业的C端传播加速及招商等行动显著。据报道，2025年以来，无忧酒致力 于"打造厂商命运共同体"战略，在山东、广东等地逆势扩张。同期，为拓宽品牌声誉等，其还联袂华君 传媒，宣布启动覆盖全国40余座核心枢纽机场的广告投放计划。 行业人士直言，在白酒行业整体收缩，特别是酱酒企业节衣缩食"保命"的当下，无忧酒业几乎称得 上"逆势烧钱扩张"的独一份。而当下法院的多条被执行文书下达，或戳破了无忧酒业所构建的"繁荣泡 沫"。不过，无忧酒业"暴雷"背后，或已经又站了一批 ...

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the last 30 days include United Imaging Healthcare, Lens Technology, Aibo Medical, Sanhua Intelligent Control, and Zhaoyi Innovation [2][13] - In the last 5 days, the most popular companies for institutional research include Ninebot Company-WD, Rongbai Technology, Lens Technology, Yintong Intelligent Control, and Yinglian Co., Ltd [2][15] - Among the top twenty companies in the last 30 days, 19 companies had 10 or more rating agencies involved, with significant profit growth expected for Jiao Cheng Ultrasound, Lanke Technology, and United Imaging Healthcare in Q1-Q3 of 2025 compared to the same period in 2024 [2][13][16] Group 2: Major Shareholder Increase in A-Share Listed Companies - From November 17 to November 21, 2025, five listed companies announced significant shareholder increases, with Changshu Bank increasing its shareholding by more than 1% of total equity, while Huangtai Liquor, Longlide, Fuguang Co., and Feiwo Technology planned to increase their holdings with an average of more than 1% of the market value on the announcement date [3][20] - From January 1 to November 21, 2025, a total of 295 companies announced significant shareholder increases, with 90 of them having 10 or more rating agencies involved. Among these, 23 companies had an average planned increase amount exceeding 1% of the market value on the announcement date, including Xianhe Co., Hubei Yihua, Xinji Energy, and Zhongju Gaoxin [5][22] Group 3: Share Buyback Situation in A-Share Listed Companies - From November 17 to November 21, 2025, 65 companies announced their buyback progress, with 16 companies having 10 or more rating agencies involved. Five companies had an average planned buyback amount exceeding 1% of the market value on the announcement date, with a focus on Jian Sheng Group, Trina Solar, and Prologis Pharmaceuticals [4][25] - From January 1 to November 21, 2025, a total of 1,805 companies announced their buyback progress, with 344 of them having 10 or more rating agencies involved. Among these, 88 companies had a significant buyback ratio, with two companies, Huaming Equipment and Prologis Pharmaceuticals, still in the board proposal stage [6][27]

Core Insights - The Chinese liquor market, particularly the baijiu sector, experienced significant growth in 2020, with A-shares leading globally. The overall revenue for 19 listed baijiu companies reached 258.94 billion yuan, a year-on-year increase of 6.58% [1][5] - The net profit attributable to shareholders for these companies totaled 92.068 billion yuan, reflecting a growth of 11.95% compared to the previous year [1][5] - There is a notable divergence in performance among baijiu companies, with leading brands like Moutai and Wuliangye achieving double-digit growth, while some smaller brands faced significant declines [4][9] Revenue Performance - In 2020, 19 listed baijiu companies reported a total revenue of 258.94 billion yuan, with 11 companies showing positive growth and 8 experiencing negative growth [2][5] - The highest revenue growth was recorded by Jiugui Liquor at 20.79%, while Qingqing Qiao experienced a decline of 39.07%, marking a difference of 59.86 percentage points [2][3] - The top three companies by revenue were Moutai (94.915 billion yuan), Wuliangye (57.321 billion yuan), and Yanghe (21.101 billion yuan) [4] Profit Analysis - The six leading baijiu companies accounted for over 90% of the total profits in the sector, with Moutai alone contributing more than 36% of total revenue and over 50% of total profits [7][9] - Moutai's net profit reached 46.697 billion yuan, with a growth rate of 13.33%, while Wuliangye's net profit was 19.955 billion yuan, growing by 14.67% [6][7] - Jiugui Liquor showed remarkable performance with a net profit growth of 64.15%, while Qingqing Qiao reported a significant loss of 1.15 billion yuan [6][7] Market Dynamics - The pandemic initially impacted the baijiu industry negatively, but leading brands demonstrated resilience, with Moutai, Wuliangye, and Shanxi Fenjiu achieving substantial growth [9] - The disparity in performance is evident, with some companies like Shanxi Fenjiu and Jiugui Liquor seeing stock prices increase over threefold, while others struggled [9][11] - The overall tax contributions from the baijiu sector increased significantly, with a 48% rise in the first quarter of 2021 compared to the previous year, attributed to a recovery from the pandemic [14][15] Financial Health - As of March 2021, Wuliangye had the highest cash reserves among listed baijiu companies, totaling 73.38 billion yuan, while Moutai had approximately 50.743 billion yuan [17][18] - The financial strength of these companies is crucial for their ability to invest and expand in a competitive market [17] Compensation Trends - Moutai reported the highest average employee salary in the sector at over 300,000 yuan, while the lowest was at less than 52,000 yuan for Huangtai Liquor [19][20] - The management compensation for Moutai was relatively low compared to other companies, with total management salaries below 3.72 million yuan [21][23]

Core Insights - The Chinese wine industry is experiencing a significant decline in production, with a reported decrease of 18.2% in September 2025 compared to the previous year [1] - Cumulatively, the wine production from January to September 2025 has fallen by 22.6%, totaling 65,000 kiloliters [1] Company Insights - Key listed companies in the Chinese wine sector include Zhangyu A (000869), Weilang Co., Ltd. (603779), Zhongpu Co., Ltd. (600084), ST Tongpu (600365), Xibu Chuangye (000557), and Huangtai Wine Industry (000995) [1] Industry Reports - The report titled "2026-2032 China Wine Industry Market Panorama Survey and Investment Potential Research Report" by Zhiyan Consulting provides insights into the market trends and investment opportunities within the wine industry [1][2]

Core Viewpoint - Gansu Huangtai Liquor Co., Ltd. has appointed Mr. Xiang Xinzhou as the new Deputy General Manager and Secretary of the Board, effective from the date of the board meeting approval, with his term lasting until the end of the current board's tenure [1][2]. Group 1: Appointment Details - The board of directors approved the appointment of Mr. Xiang Xinzhou as Deputy General Manager and Secretary of the Board on November 20, 2025 [1]. - Mr. Xiang Xinzhou has completed the necessary training and holds the required qualifications to serve in this role, as recognized by the Shenzhen Stock Exchange [1][2]. Group 2: Background of Mr. Xiang Xinzhou - Mr. Xiang Xinzhou, born in October 1986, holds a bachelor's degree and has obtained both a legal professional qualification certificate and a board secretary qualification certificate from the Shenzhen Stock Exchange [2]. - His previous positions include roles at Baota Petrochemical Group and Jiangsu Huasheng Tianlong Optoelectronic Equipment Co., Ltd., where he served as Secretary of the Board and Deputy General Manager [2]. Group 3: Compliance and Relationships - As of the announcement date, Mr. Xiang Xinzhou does not hold any shares in the company and has no relationships with major shareholders or other board members [3]. - He meets all legal and regulatory requirements to serve as a senior executive, with no disqualifications or penalties recorded against him in the last three years [3].

证券日报网讯 11月21日晚间，皇台酒业发布公告称，甘肃皇台酒业股份有限公司（以下简称"公司"） 于2025年11月20日召开公司第九届董事会第十八次会议，审议通过了《关于聘任公司副总经理兼董事会 秘书的议案》，经公司董事长提名，董事会提名委员会审查通过，董事会同意聘任项新周先生为公司副 总经理、董事会秘书，任期自本次董事会审议通过之日起至公司第九届董事会任期届满之日止。 （编辑 姚尧） ...

Core Viewpoint - The seamless transition of Xiang Xinzhou between two listed companies, Gansu Huangtai Liquor Co., Ltd. and *ST Tianlong, highlights the dynamics of executive movement in the market, with Xiang taking on the role of Vice General Manager and Board Secretary at Huangtai Liquor immediately after resigning from *ST Tianlong [1][5][7]. Group 1: Executive Transition - Gansu Huangtai Liquor announced the appointment of Xiang Xinzhou as Vice General Manager and Board Secretary on November 21, with his term starting immediately [1]. - Xiang Xinzhou has 16 years of experience in corporate management and compliance, holding qualifications in law and as a board secretary [1][2]. - On November 20, Xiang submitted his resignation from *ST Tianlong, effective immediately upon delivery to the board [5][7]. Group 2: Company Performance and Stock Movement - As of November 21, Huangtai Liquor's stock fell by 4.05%, closing at 12.55 yuan, with a total market capitalization of 2.226 billion yuan [4]. - *ST Tianlong's stock also declined by 3.88%, closing at 6.20 yuan, with a market capitalization of 1.243 billion yuan [7]. - Xiang Xinzhou held 71,300 shares in *ST Tianlong, valued at approximately 442,060 yuan as of the last trading day [7]. Group 3: Financial Challenges - *ST Tianlong has faced significant financial difficulties, reporting a 58.03% year-on-year decline in revenue for the first three quarters, totaling 51.6383 million yuan, and a net loss of 14.6535 million yuan, a 187.2% increase in losses compared to the previous year [12]. - The company has been under risk of delisting after two consecutive years of losses, with its stock currently under risk warning [12].

每经AI快讯，皇台酒业（SZ 000995，收盘价：12.55元）11月21日晚间发布公告称，公司审议通过了 《关于聘任公司副总经理兼董事会秘书的议案》，经公司董事长提名，董事会提名委员会审查通过，董 事会同意聘任项新周先生为公司副总经理、董事会秘书。 每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 曾健辉） 2025年1至6月份，皇台酒业的营业收入构成为：食品饮料占比99.04%，其他业务占比0.96%。 截至发稿，皇台酒业市值为22亿元。 ...

甘肃皇台酒业股份有限公司（以下简称"公司"）于 2025 年 11 月 20 日召 开公司第九届董事会第十八次会议，审议通过了《关于聘任公司副总经理兼董事 会秘书的议案》，经公司董事长提名，董事会提名委员会审查通过，董事会同意 聘任项新周先生为公司副总经理、董事会秘书（简历详见附件），任期自本次董 事会审议通过之日起至公司第九届董事会任期届满之日止。 证券代码：000995 证券简称：皇台酒业 公告编号：2025-043 项新周先生已参加深圳证券交易所董事会秘书任职培训并取得董事会秘书 任职培训证明，具备任职副总经理兼董事会秘书所需的专业能力、职业操守和工 作经验。其任职资格已经深圳证券交易所备案无异议，符合《公司法》《深圳证 券交易所股票上市规则》和《公司章程》等相关规定。 公司董事会秘书项新周先生的联系方式如下： 联系电话：0935-6139865 特此公告。 甘肃皇台酒业股份有限公司董事会 甘肃皇台酒业股份有限公司 关于聘任公司副总经理兼董事会秘书的公告 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。 二〇二五年十一月二十一日 项新周，男，1986 年 ...

三、关联交易审议程序 证券代码：000995 证券简称：皇台酒业 公告编号：2025-042 甘肃皇台酒业股份有限公司 关于公司向金融机构申请融资事项的公告 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。 一、融资事项概述 甘肃皇台酒业股份有限公司（以下简称"公司"）于 2022 年 12 月 22 日向 兰州农村商业银行股份有限公司（以下简称"兰州农商行"）金城支行借款 5,000 万元，该笔借款将于 2025 年 12 月 21 日到期。为满足公司生产经营和业务发展 的资金需求，优化债务结构，保证资金流动性，公司拟向兰州农商行金城支行申 请借款 5,000 万元，以借新还旧方式办理，借款期限为 3 年，借款利率以双方 签订的借款合同为准。 二、关联担保情况概述 为确保本次融资事宜的顺利实施，公司控股股东甘肃盛达集团有限公司（以 下简称"甘肃盛达"）拟为本次融资事项提供连带责任保证担保，且不向公司收 取任何担保费用，不要求公司提供反担保措施。 甘肃盛达为公司控股股东，根据《深圳证券交易所股票上市规则》的相关规 定，本次担保构成关联交易。 1、关联关系说明：公 ...