5月底，一篇疑似出自MOVA高管的小作文截图在社交媒体上广为流传。长文点名深圳公司员工在岗时间普遍比苏州同事短，"晚上不到20点就下班了，而 （苏州）总部22点后还有员工在办公室忙碌"，呼吁员工按时下班后到家继续未竟工作、员工创造价值应是雇佣成本的15倍以上，"坚决清退划水害虫痕 （瘟）疫"。 作为知名品牌，"追觅"不缺流量关注，而脱胎于追觅的年轻品牌MOVA却是第一次遇到如此汹涌的舆论漩涡。 这篇小作文在社交媒体发酵后，不少网友表示要抵制追觅的产品；也有部分员工为公司鸣不平，称加班是行业常态，且加班费是真给，老板也常大手笔发红 包给福利。 MOVA从去年底开始试图完全独立运营，在CES、AWE等大型展会上都坚持不用"追觅"字眼作宣发。这一次意外"出圈"，网友们仍把两个品牌捆绑在了一 起。 一位MOVA员工告诉经济观察报记者，去年底，MOVA从追觅分拆出来，独立运作，今年MOVA的目标是扭亏为盈，因此公司上下对加班有预期，但看到有 人如此明确地要求全员加班的长文，还是倍感意外。 截至6月6日，追觅、MOVA官方并未针对上述言论做出回应。据经济观察报了解，涉事企业已就此事报警处理，苏州相关部门已立案。 业务和工 ...

本报记者 冯思婕 6月5日，中策橡胶集团股份有限公司（以下简称"中策橡胶"）正式登陆上交所。中策橡胶此次发行股份数量为8744.86万 股，发售价为46.5元/股，开盘报57元/股，开盘上涨22.58%。 作为行业的"领头羊"，中策橡胶近年来的经营表现亮眼。2022年至2024年期间，中策橡胶的营业收入分别为318.89亿元、 352.52亿元和392.55亿元，归母净利润分别为12.25亿元、26.38亿元和37.87亿元，业绩实现稳步增长。 努曼陀罗商业战略咨询创始人霍虹屹在接受《证券日报》记者采访时表示，中策橡胶的上市，不是简单地"又多了一家轮 胎股"，而是标志着中国轮胎行业的龙头企业，开始以资本市场为杠杆，向更高质量的全球竞争力发起冲击。这在对企业自身 进行资本补充和品牌加持的同时，还将带动整个轮胎板块的估值重估，提振投资者对中国轮胎制造业的信心。 顺应趋势实现产品矩阵升级 公开资料显示，中策橡胶成立于1992年，主要从事各类轮胎产品的研发、生产和销售。经过30余年深耕，中策橡胶已成功 孵化"朝阳""好运""威狮""金冠""WESTLAKE""TRAZANO"等多个国内外知名品牌，构建起涵盖全钢胎、半 ...

▎1-4月白酒产量130.8万千升 2025年1-4月，全国规模以上企业白酒（折65度，商品量）产量130.8万千升，同比下降7.8%；其中4月 产量28.1万千升，同比下降13.8%。（国家统计局） ▎泸州老窖到访中国食品院 5月16日，泸州老窖股份有限公司副总经理、董事会秘书李勇带队到访中国食品院，与中国食品院党委 书记、总经理郭新光和首席专家王德良座谈交流。双方回顾了前期合作交流成果，并就博物馆建设、沉 浸式体验、智能感官如何赋能企业营销等议题展开深度探讨。（国家酒类品质与安全国际研究中心） ▎古井全国化覆盖率已超70% 5月20日，古井贡酒2024年度业绩说明会召开，会上，就年度增长目标问题，古井方面表示，在人口增 长逐渐放缓与行业存量竞争的双重影响之下，降速发展成为白酒行业共识。 全国化方面，古井表示，公司持续坚持"全国化、次高端"战略，目前安徽省内继续保持稳健增长，市场 份额在稳步提升；省外聚焦核心省区，持续推进"三通工程"，稳住存量市场，开拓增量市场。目前全国 化覆盖率已达到70%以上，省内、省外结构占比为6:4；公司将借鉴省内的发展经验，在省外打造一批 规模省区、规模市场、规模客户，进一步提高 ...

Core Viewpoint - The company has shifted from high-speed growth to structural growth in the white liquor industry, acknowledging challenges such as oversupply, inventory issues, and intense competition [2][3] Financial Performance - In 2024, the company achieved total revenue of 23.578 billion yuan, a year-on-year increase of 16.41% - The net profit attributable to shareholders was 5.517 billion yuan, reflecting a year-on-year growth of 20.22% [2] Growth Strategy - The company has not set a performance target for 2025, which is seen as a response to the current economic cycle and industry challenges [2] - The company continues to adhere to a "nationalization and mid-to-high-end" strategy, focusing on market construction and core provinces [2][3] Market Expansion - The company has achieved over 70% national coverage, with a provincial to external market ratio of 6:4 [3] - The company aims to enhance its market share in both provincial and external markets by leveraging its development experience [3] Competitive Landscape - The company faces competition from leading brands like Moutai and Wuliangye in its home province of Anhui [3] - The company is committed to maintaining steady growth in Anhui while expanding into core external markets [3] Stock Performance - The company's stock price has declined from approximately 169 yuan at the beginning of 2025 to around 157 yuan currently, down from 210 yuan at the start of 2024 [4] - The company is implementing a market value management system to enhance investor returns and maintain investor interests [4]

Core Viewpoint - The company has decided not to set specific growth targets for 2025, reflecting a broader industry consensus on slowing growth due to various macroeconomic factors and increased competition [2][3][6]. Group 1: Financial Performance - In 2024, the company achieved total revenue of 23.578 billion yuan, a year-on-year increase of 16.41% [2]. - The net profit attributable to shareholders reached 5.517 billion yuan, growing by 20.22% compared to the previous year [2]. - The cash flow from operating activities was 4.727 billion yuan, marking a 5.15% increase year-on-year [2]. - The white liquor business revenue was 22.865 billion yuan, with a growth rate of 16.43% and a gross margin of 81.74% [2]. - The "Year Original Sauce" series saw significant growth, generating 18.086 billion yuan in revenue, up 17.31%, with a gross margin of 86.12% [2]. Group 2: Strategic Direction - The company continues to adhere to a "nationalization and mid-to-high-end" strategy, focusing on market construction and core provincial areas [6][7]. - The company has achieved a national coverage rate of over 70%, with a provincial to non-provincial sales ratio of 6:4 [7]. - The company aims to capture the mid-to-high-end market with its "Gu 20" product while also consolidating its offerings in the mass market [7]. Group 3: Industry Context - The white liquor industry is experiencing a transition from rapid growth to structural growth, influenced by high inventory levels, price inversions, and intense competition [6]. - The declining marriage rates, with a reported 20.5% drop in 2024, are impacting traditional consumption scenarios for liquor [7].

Core Viewpoint - The company demonstrates strong performance in 2024 and Q1 2025, with revenue and net profit growth despite external pressures, indicating a trend towards sustainable high-quality growth [1][2][4]. Financial Performance - In 2024, the company achieved revenue of 235.8 billion and net profit of 55.2 billion, representing year-on-year growth of 16.4% and 20.2% respectively [1]. - Q4 2024 revenue and net profit showed a year-on-year increase of 4.9% and a slight decrease of 0.7% respectively [1]. - In Q1 2025, the company reported revenue of 91.5 billion and net profit of 23.3 billion, with year-on-year growth of 10.4% and 12.8% respectively [1][2]. Product and Market Performance - The product structure is expected to improve steadily in 2024, with notable performance from products such as Gu 7, Gu 8, and Gu 16 [1]. - In 2024, the company’s revenue from different product lines included 180.9 billion from aged raw liquor, 22.4 billion from Gujing Gongjiu, and 25.4 billion from other products, with respective year-on-year growth rates of 17.3%, 11.2%, and 15.1% [2]. - The company continues to focus on inventory reduction and sales activation in provincial markets, maintaining a competitive edge in Hefei while expanding in other regions [1][2]. Profitability and Cost Management - The gross margin for 2024 increased by 0.8 percentage points to 79.9%, attributed to an upward shift in product structure [3]. - The sales and management expense ratios decreased by 0.6 percentage points each, resulting in a sales expense ratio of 26.2% and a management expense ratio of 6.1% [3]. - In Q1 2025, the gross margin slightly decreased to 79.7%, but the net profit margin improved to 25.5%, reflecting ongoing enhancements in profitability [3]. Future Outlook - The company aims for steady revenue growth in 2025, with a focus on sustainable development and a strategy targeting national expansion and premium product lines [2][4]. - The earnings per share (EPS) forecast for 2025 and 2026 has been slightly adjusted to 11.49 and 12.85 respectively, with a projected CAGR of 14% for net profit, surpassing comparable companies [4]. - The target price for 2025 is set at 229.80, based on a 20x price-to-earnings ratio [4].

4月27日，梦洁股份披露2024年年度报告，全年实现营业收入17.15亿元，归母净利润2488万元，同比增 长10.99%。2025年一季度报告同天披露，公司实现营收3.3亿元，归母净利润1004万元，同比增长 13.87%，扣非后同比增长69.97%。 针对实体门店客流疲软与传统电商增长放缓的行业现状，公司深化新零售模式，在稳定天猫、京东、唯 品会等平台电商的基础上，与淘宝、抖音等直播电商深度引流，并在视频号、小红书等兴趣电商做出积 极尝试，开创"董事长直播"等打造IP进行品牌曝光与流量转化。2024年，公司线上销售渠道收入3.17亿 元，毛利率同比增长1.47%。 公告显示，梦洁股份经营基本面正持续向好，全年销售收入略有下滑的情况下，公司净利润增长进一步 彰显其盈利质量。与此同时，公司多项财务指标持续释放积极信号，销售费用、管理费用、财务费用均 明显降低，库存、应收账款等继续下降。 具体来看，高端床上用品仍是梦洁股份的核心竞争力。中华全国商业信息中心最新统计显示，梦洁高端 床上用品已连续16年(2009-2024)位列同类产品集团销量第一位。梦洁股份亦作为业内首个入选品牌，获 商务部认定为新一批"中华老字 ...