11月9日至21日，第十五届全国运动会在粤港澳大湾区重磅启幕。作为国内规模最大、竞技水平最高的 综合性体育盛会，全运会不仅是顶尖运动员逐梦争光的舞台，更成为品牌链接大众、传递价值的核心营 销阵地。东鹏饮料（605499）（605499.SH）以本届全运会官方供应商及指定功能饮料的双重身份惊艳 亮相，将"为国争光，东鹏能量"的品牌精神深度融入赛事场景，通过与年轻群体的情感共鸣强化年轻化 标签，为品牌价值的焕新升级注入强劲动力。 赛事合作驱动品牌价值升维，场景化营销增强记忆点 东鹏饮料亮相全运会，绝非单纯的品牌曝光行为，而是一场以国家级体育IP为支点的品牌价值与市场竞 争力双重升维。借助全运会覆盖全国的影响力与正向价值导向，东鹏饮料通过沉浸式场景植入与精准化 营销动作，将品牌基因与拼搏、奋斗的体育精神深度绑定，既强化了消费者对"专业能量补给"的核心认 知，更收获了实打实的市场业绩反馈，让品牌价值在赛事热度中持续沉淀。 背后支撑这一成果的，是东鹏饮料跳出单一赛事合作框架、布局多年的立体化营销矩阵。在体育领域， 公司品牌已实现从国际顶级赛事到大众潮流运动的全场景覆盖，从杭州亚运会、卡塔尔世界杯等全球性 赛事中传递中国 ...

Core Viewpoint - The performance and strategic direction of leading liquor companies, such as Wuliangye, serve as a barometer for the industry amid significant adjustments and restructuring of consumer demand in the liquor sector [1][2]. Financial Performance - In the first three quarters of 2025, Wuliangye reported a revenue of 60.945 billion yuan and a net profit attributable to shareholders of 21.511 billion yuan [1]. - Despite facing pressure during the industry adjustment period, Wuliangye's proactive adjustments are beginning to show positive effects [1][2]. Industry Challenges - The liquor industry is currently experiencing a deep adjustment phase characterized by insufficient effective demand, increased market volatility, high inventory levels, and sluggish sales [2][3]. - Third-party data indicates that the overall inventory in the liquor industry remains at historically high levels, with some distributors facing inventory turnover periods exceeding six months [2]. Strategic Response - Wuliangye adopts a strategy of "precise identification of changes, bold response, and proactive transformation" to navigate industry challenges [2]. - The company has historically used periods of adjustment as opportunities for self-reform, focusing on brand restructuring and channel reform [2][3]. Product and Channel Innovation - Wuliangye is focusing on product innovation and channel reform to cultivate new growth momentum, including the launch of a new product aimed at younger consumers [3][4]. - The company has introduced a new low-alcohol product that has exceeded sales expectations, generating over 100 million yuan in sales within 60 days of its launch [3]. Digital and Channel Development - Wuliangye has expanded its market presence by adding 15 new coverage areas and over 10,000 new terminal outlets [4]. - Online sales have increased by 8% year-on-year, with a membership system exceeding 20 million members, enhancing market penetration through a dual online and offline strategy [4]. Quality and Brand Development - Wuliangye has been recognized for its quality management, winning the EFQM Global Award with the highest score in its category [5]. - The company is enhancing its brand's international reputation through high-end platform collaborations and cross-cultural exchanges [5]. Long-term Outlook - Despite short-term pressures, the long-term fundamentals of the liquor industry remain solid, with expectations for recovery as national policies support market stabilization [5][6]. - Wuliangye is transitioning from a "scale-driven" to a "quality-driven" model, positioning itself to lead the industry towards healthier and more sustainable growth [5][6].