泸州老窖：将适时推出28度国窖1573 更低度数考虑中 智通财经6月27日电，泸州老窖党委书记、董事长刘淼透露，泸州老窖今年将继续推进低度化，28度国 窖1573已经研发成功，将适时投放市场，并在考虑更低度数的产品。这将是头部酒企今年又一款重磅低 度化白酒单品。五粮液上周股东大会上透露，29度五粮液·一见倾心预计下半年会投放市场。 (21财经) ...

Core Viewpoint - The Chinese liquor industry is undergoing a significant adjustment, with a new trend towards lower alcohol content products to cater to younger consumers, who prefer lower alcohol beverages. Group 1: Industry Trends - The trend of lowering alcohol content in liquor has emerged as a response to changing consumer preferences, particularly among younger demographics, with over 60% of young people favoring lower alcohol options [1][9]. - Major liquor companies, including Wuliangye and Luzhou Laojiao, are actively developing lower alcohol products, indicating a shift in product strategy to attract new consumer segments [1][3]. - The market for low-alcohol liquor is projected to reach 74 billion yuan by 2025, highlighting its growing acceptance and demand among contemporary consumers [10]. Group 2: Company Strategies - Wuliangye plans to launch a 29-degree product, reviving a previously discontinued line from the 1990s, and is focusing on enhancing the sensory experience of its products [2][1]. - Luzhou Laojiao has also indicated that it is working on lower alcohol products, reflecting a broader industry trend towards innovation in product offerings [3]. - Other companies, such as Yanghe, have introduced new low-alcohol products, with plans for additional releases later in the year, further emphasizing the industry's pivot towards lower alcohol content [4]. Group 3: Consumer Behavior - The consumption structure of the liquor industry is changing, with younger consumers becoming a significant market force, leading to a shift in product offerings to meet their preferences [9]. - The traditional high-alcohol liquor market is facing competition from lower alcohol options, which are perceived as more palatable and suitable for social drinking scenarios [10][12]. - Despite the advantages of lower alcohol products, changing long-standing consumer drinking habits will require strategic marketing and education efforts from liquor companies [13].

白酒企业也在健康化和年轻化的方向上努力追赶 2025年上半年，白酒行业的深度调整依然在持续，也迫使酒企主动作出改变。近日记者了解到，在五粮液宣布将推出29度五粮液产品后，泸州老窖内部也在 研发更低度的创新白酒产品。在业内看来，今年上半年，白酒降度成为一个新趋势。 在近期举行的五粮液股东大会上，五粮液管理层透露，将系统性地推进年轻化战略，考虑到年轻人对低度酒的偏好占比超过60%，五粮液将在下半年推出29 度五粮液等契合年轻人口味和审美的新产品。 29度五粮液流行于上世纪90年代，随着白酒饮用高度化的趋势而停产。今年6月份，五粮液已经在针对29度五粮液进行市场测试，测试内容也更偏重于香 气、口感、饮后反应等体验感。 记者了解到，不仅仅是五粮液，泸州老窖内部人士透露，公司也在研发更低度的白酒产品，但具体计划尚不能透露。 此前，洋河在春季糖酒会期间也推出了多款33.8度的微分子白酒新品，根据其此前公布的计划，今年9月还有多款低度新品上市。 头部白酒企业扎堆低度化，并非降低成本的考量。 曾操盘浓香型酒企的白酒独立评论员肖竹青告诉第一财经记者，浓香型白酒取酒的酒精度是70度，低度酒需要通过勾兑来降度，但白酒降度会导致酒体 ...

Group 1 - Yang Weiguo resigned from the board of Yanghe Co., Ltd. due to work adjustments, raising concerns about corporate governance and strategic stability [1] - Zhangyu A announced the sale of its 100% stake in French ETABLISSEMENTS ROULLET FRANSAC for €2.6 million and related real estate for €2.2 million, totaling approximately ¥39.32 million, which may improve cash flow but reduce overseas business scale [2] - Yanjing Beer has implemented a "beer + beverage" marketing strategy targeting young consumers, focusing on dining scenarios, which may attract investor attention towards its market expansion capabilities [3] Group 2 - The China Alcoholic Drinks Association is soliciting opinions on the group standard for "multi-grain low-alcohol fragrant liquor," aligning with the trend towards lower alcohol content and potentially guiding product structure adjustments in the liquor industry [4]

5月份以来，五粮液（000858.SZ）、泸州老窖（000568.SZ）等密集召开业绩说明会，对2024年度及今 年一季度业绩展开说明的同时，也对白酒行业当前的库存、动销等展开回应。 整体来看，经过此前酒企频繁控货挺价策略之后，五粮液、泸州老窖等头部酒企的库存水平有所改善， 其中五粮液表示，第八代五粮液社会库存处于低位；但洋河股份等酒企也表示，接下来的重点工作之一 仍是"去库存"。库存之外，年轻化、低度化也是不少头部酒企布局的重点。 白酒行业正处于"三期叠加"时期，酒企主动降速 "短期来看，行业仍处于调整期，本轮调整主要受消费环境影响导致。"对于白酒行业所处的现状等，泸 州老窖在5月16日召开业绩说明会上表示，近年来，酒类消费供需结构出现了转移和分化，酒类消费市 场进入到存量期，行业伴随着经济增速的换挡，进入到新旧动能转化的发展阶段。 在茅台高管看来，当前行业处于"三期叠加"时期。白酒行业正经历深度调整，处于宏观经济周期、白酒 行业周期及酒企和产品自身周期"三期叠加"时期，酒企必须以清醒的认知，看待行业发展态势，才能更 好地度过本轮周期。 在调整周期下，各大酒企业绩增速放缓甚至下滑。2024年五粮液实现营业收 ...

编号：2025-4-29 | 投资者关系活动 | □特定对象调研 ★分析师会议 | | --- | --- | | 类别 | | | | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 股东大会交流 | | 参与单位名称及 | 天风证券：张潇倩；高盛：刘晔；东吴证券：孙瑜；中金公司： | | | 屈宁；广发证券：周源；国泰海通证券：李梓梧等共计 208 人。 | | 人员姓名 | | | 时间 | 2025 年 4 月 29 日 15:30-16:30 | | 地点 | 线上 | | 上市公司接待人 | | | 员姓名 | 王川、赵亮、姜通 | | | 1.公司一季度销售情况 近年来，公司以高质量发展为导向，全力推进"数智泸州老窖" 建设，保证渠道良性和价盘稳定，力争赢得长周期产业价值回报和企 | | | 业的可持续发展。一季度公司依托数字化营销体系，积极推动消费者 "开瓶"，保证价盘稳定和渠道健康，全国范围内库存水平良性，主 | | | 要大单品销售稳健，动销优于回款表现。 | | | 2.公司今年总体营销思路 | | | 公司管理层提出 6 大思 ...