泸州老窖：低度国窖1573营收占比逐年提高，目前占比接近50%

Core Viewpoint - The company is focusing on high-quality development amidst increasing market competition and is preparing for a significant transformation in the industry [1] Group 1: Business Strategy and Goals - The company aims for steady revenue growth in 2025, emphasizing a theme of "gathering strength to tackle challenges and refining efforts for stable growth" [1] - The management highlighted the ongoing transition in the industry from extensive to refined operations, and from quantity to quality, indicating an impending phase of intense competition and accelerated differentiation among companies [1] Group 2: Product and Market Adaptation - The company has fully revamped its five major products starting in 2023 and is selling some premium aged products through online platforms [1] - Due to the trend of lower alcohol consumption in the market, the revenue share of the lower-alcohol version of Guojiao 1573 has been increasing, currently approaching 50% [1] Group 3: Distribution and Partnerships - The management reiterated the commitment to the "customer is the team" philosophy, focusing on creating value and wealth alongside customers [2] - The company plans to continue expanding its national distribution network and will selectively add high-quality customers to its sales system to support high-quality development [2]