【中国白酒网】新疆白酒龙头伊力特，在行业深度调整与自身业绩承压的关键节点，迎来了领导层 的更迭。 作为区域型酒企，尽管伊力特早已提出"走出新疆"的口号，但疆内市场至今仍是其绝对的"命脉"。 2025年第三季度，伊力特疆内市场收入占酒类产品总收入约84%，但其收入同比也下降了12.66%。这表 明，即便是传统优势市场，也出现了增长乏力和消费疲软的迹象。与此同时，被视为增长希望的疆外市 场，本季度销售金额同比暴跌49.88%，由去年同期的4.08亿元锐减至2.04亿元。 面对困境，伊力特也尝试转型。公司近年来在战略调整上频频出手：重新确定西安、兰州等为重点 市场，深化四川销售公司改革，推出"直营+合伙人+推荐官"的新营销模式。这些举措在上半年也取得 了一定成效，带动直销收入同比增长超六成。西南证券的分析指出，尽管传统经销渠道因社会库存高、 动销慢而压力巨大，但公司的改革方向是明确的。然而，从三季度数据看，这些改革的成效尚未能抵消 宏观环境与行业周期带来的巨大冲击。 12月15日，伊力特公告称，因临近法定退休年龄，陈智辞去公司董事长、董事等全部职务。同日， 董事会选举原党委副书记、总经理李强为新任董事长。这次看似常 ...

Core Viewpoint - Jiangsu Mingjiu Jinshiyuan reported a significant decline in revenue and net profit for the first three quarters of 2025, indicating challenges in the regional liquor market and increased competition [1][3]. Financial Performance - For the first three quarters of 2025, Jinshiyuan's revenue was 8.88 billion yuan, a year-on-year decrease of 10.7%, while net profit attributable to shareholders was 2.55 billion yuan, down 17.4% [1]. - In Q3 alone, revenue dropped to 1.93 billion yuan, a decline of 26.8%, and net profit fell to 320 million yuan, down 48.7% [1]. Product Performance - The revenue breakdown by product for the first three quarters shows: - Special A+ products: 5.43 billion yuan, down 15.97% - Special A products: 2.87 billion yuan, up 0.32% - A products: 301 million yuan, down 18.04% - B products: 106 million yuan, down 13.26% - C and D products: 42 million yuan, down 30.59% - Other products: 400,000 yuan, down 8.95% [2][3]. Market Dynamics - Jinshiyuan's Special A+ products accounted for 61.2% of total revenue, indicating reliance on high-end market segments [3]. - The company primarily operates in Jiangsu province, where it faces intense competition, particularly from Yanghe, leading to a decline in market share [3][4]. - Revenue from Jiangsu province decreased by 12.4% to 7.96 billion yuan, while revenue from outside the province was stable at 804 million yuan, showing limited growth in national expansion efforts [4]. Sales and Distribution - Sales expenses for the first three quarters reached 1.61 billion yuan, an increase of 5.5% [5]. - The number of distributors decreased by 84, with a significant reduction of 80 in the provincial market, highlighting challenges in maintaining distribution networks [5].