丨2025年5月20日星期二丨 NO.1 仁怀六招推动白酒产业发展 日前，仁怀市委常委会和仁怀经开区党工委召开会议。会议强调，要抓住政策机遇，依托"一带一路"等 平台，扩大高水平对外开放，联动地方酒企抱团"走出去"，加快推动"酱酒"出海取得新突破。全市上下 要着力"稳预期、扩市场、建场景、去库存、降成本、解难题"，在白酒产业发展上展现更大作为；着力 引领推动"卖酒向卖生活方式"转变，在酒旅融合上取得更大突破。 点评：仁怀市的部署既是对国内市场瓶颈的突破，也是对全球烈酒竞争格局的主动回应。通过"政企联 动+文化输出+科技赋能"的组合策略，有望推动酱酒产业从规模扩张转向高质量发展。而国际化进程需 长期投入，需平衡文化坚守与本土化创新，并强化产区政府、协会与企业的协同机制，方能实现"世界 酱香白酒核心产区"的全球影响力。 NO.2 贵州茅台董事长张德芹：2025年茅台营收目标增长9% 每经记者｜刘明涛 每经编辑｜肖芮冬 5月19日，贵州茅台2024年度股东大会举行。贵州茅台酒股份有限公司党委书记、董事长张德芹代表公 司董事会在作2024年度工作报告时表示，茅台2025年主要目标是实现营业总收入较上年增长9%左右。 ...

Core Viewpoint - Guizhou Moutai aims to achieve approximately 9% growth in total operating revenue for 2025, despite ongoing adjustments in the Chinese liquor industry [1][9]. Financial Performance - In 2024, Guizhou Moutai achieved total operating revenue of 174.144 billion yuan, a year-on-year increase of 15.71% from 170.899 billion yuan in 2023 [4]. - The total profit reached 119.639 billion yuan, reflecting a year-on-year growth of 15.41% [4]. - The net profit attributable to shareholders was 86.228 billion yuan, with a year-on-year increase of 15.38% [4]. Industry Context - The Chinese liquor industry is undergoing a deep adjustment, which raises concerns among investors [5]. - The current industry cycle is characterized by a "three-phase overlap," including a transition in macroeconomic dynamics, the emergence of rational consumption trends, and a shift from chaotic growth to a phase of resolving contradictions [6]. Strategic Initiatives - Guizhou Moutai plans to focus on five key areas for future growth: strengthening core business foundations, building an ESG ecosystem, driving innovation, enhancing brand culture, and maintaining a bottom-line development mindset [9][10]. - The company will implement a "three transformation" strategy in 2024, focusing on customer segments, scenarios, and service upgrades to address supply-demand mismatches [9][10]. - The internationalization strategy will follow a "three-step" approach, expanding from product exports to a comprehensive international presence in products, services, and brand culture [10]. Brand and Quality Commitment - Guizhou Moutai emphasizes its strong brand value, product quality, and established distribution channels as fundamental supports for maintaining confidence and resilience during industry cycles [6][7]. - The company has developed a dual-channel system comprising a direct sales system and a social system, categorized into a "4+6" channel structure to ensure balance and collaboration [6].