（文/霍东阳 编辑/张广凯） 昔日的"步行街巨头"真维斯要在"老家"破产了。 今年三月，澳大利亚休闲服饰品牌真维斯（Jeanswest）进入自愿清算流程，公司目标在5月20日前在线下90家门店完成价值2000万美元品牌库存的销售，并 出售真维斯品牌的知识产权。 这并不是它第一次自愿进入破产清算。 早在2020年1月，当时隶属于旭日集团的真维斯澳大利亚公司宣布自愿进入破产清算阶段。当时真维斯董事长杨勋表示，因澳大利亚子公司连年亏损，经营 难以为继。 不过，它很快找到了"接盘侠"——香港家族企业Harbour Guidance。但在Harbour Guidance的运营下，真维斯的业务还在继续萎缩，2020年接手时还有146家 门店，而到了2025年仅剩下90家。因为经营不利，Harbour Guidance在2024年也进入破产清算程序，导致真维斯澳大利亚公司再次宣告破产。 尽管真维斯在中国市场的认知度极高，一度"霸占"90后的衣柜，但它实际是一个澳洲品牌。1972年，Jeanswest 创立于澳大利亚 Perth，旭日集团则在很长一 段时间里是 Jeanswest 的供应商。 我们所熟识的真维斯，是1990年 ...

Core Viewpoint - Tianyoude Liquor's net profit has decreased significantly due to increased market expenses and the implementation of a stock incentive plan, impacting the company's financial performance in 2024 [1][2]. Financial Performance - In 2024, Tianyoude Liquor reported revenue of approximately 1.255 billion yuan, a year-on-year increase of 3.69%, while net profit was around 42.13 million yuan, a decline of 52.96% [2]. - The revenue from Qingke Baijiu priced at 100 yuan (inclusive) per 500ml and below was approximately 496 million yuan, showing a slight increase of 1.17%, while the revenue from those priced above 100 yuan was about 574 million yuan, a slight decrease of 0.66% [4]. - Other Qingke liquor categories generated about 4.11 million yuan, down 44.99%, and wine contributed nearly 7.35 million yuan, declining by over 41% [4]. Sales Channels - Revenue from channel distribution and direct sales was approximately 934 million yuan and 150 million yuan, respectively, reflecting declines of 1.49% and 1.78% [4]. - E-commerce platform revenue reached less than 144 million yuan, marking a growth of around 64% compared to 87.56 million yuan last year [4]. Regional Performance - Revenue from Qinghai province, outside Qinghai, and international markets was approximately 797 million yuan, 428 million yuan, and 3.34 million yuan, with slight declines of 1.23%, a growth of around 14%, and a drop of 55%, respectively [4]. Expense Analysis - In 2024, Tianyoude Liquor's sales, management, financial, and R&D expenses all experienced double-digit growth, with sales expenses reaching about 324 million yuan, a 12.5% increase from 288 million yuan the previous year [5]. - Advertising and market expenses were around 182 million yuan, showing a year-on-year growth of 21.37% [5]. Strategic Recommendations - To achieve breakthrough development, Tianyoude Liquor should focus on rapidly growing e-commerce channels and expanding the distribution of light bottle liquor products in markets outside Qinghai to increase national market share [5].