Group 1: Beer Industry Developments - Major beer companies are reducing workforce to control costs amid increasing competition in the industry [1][3] - Budweiser APAC reduced its workforce from approximately 25,000 in 2023 to over 21,000 in 2024, a decrease of about 4,000 employees or 16% [3] - Yanjing Beer and China Resources Beer also reported reductions of over 1,000 employees each, while Qingdao Beer cut more than 800 positions [3] Group 2: Wine Industry Events - The 5th China (Ningxia) International Wine Culture and Tourism Expo will be held from June 9 to 12, showcasing over 200 domestic and international wineries [5] - The expo will feature various activities, including a national wine industry skills competition and a cultural exhibition [5] Group 3: Labor Issues in Wine Sector - Workers at LVMH's champagne house went on strike on May 13, protesting salary and job security issues [7] - The wine and spirits division of LVMH is facing financial pressure, with a reported loss of €1.5 billion in 2024, contrasting with a cash flow of €1 billion in 2019 [7] Group 4: Leadership Changes - Treasury Wine Estates appointed Sam Fischer as the new CEO, with a compensation package including a fixed salary of AUD 1.73 million and a signing bonus of AUD 4 million [10][11] Group 5: Company Responses and Strategies - Luzhou Laojiao addressed concerns about halting orders, stating that it is maintaining normal supply channels and preparing for the upcoming Dragon Boat Festival [12][13] - Luzhou Laojiao plans to launch innovative products targeting younger consumers, including a collaboration with the sci-fi series "The Three-Body Problem" [12] Group 6: Share Buybacks and Financial Confidence - Kweichow Moutai announced a share buyback of 624,600 shares for a total of CNY 10.11 billion, completing two-thirds of its buyback plan [15] - The company plans to spend between CNY 3 billion and CNY 6 billion on share repurchases within the next 12 months [15] Group 7: Ningxia Wine Export Growth - Ningxia's wine exports reached CNY 13.75 million in 2024, supported by the development of 30 well-known wine import and export enterprises [17] - The brand value of Ningxia's Helan Mountain wine exceeded CNY 34 billion, ranking 8th in the regional brand value list [17]

【深圳商报讯】（记者李佳佳）5月9日，记者从第九届"深圳（湾区）国际品牌周"主场活动——2025粤 港澳大湾区质量品牌峰会上获悉，国际著名品牌价值评估咨询机构Brand Finance联合深圳工业总会，发 布了"2025中国品牌价值500强"中英文榜单。 作为全球领先的国际品牌价值评估机构，Brand Finance每年会对全球数千个知名品牌进行评估，并在每 年初的世界经济论坛期间年会上发布新一年的"全球品牌价值500强报告"，在国际上具高度权威性。 今年，粤港澳大湾区共有109个品牌上榜，深圳入榜的34个品牌中有17个"深圳知名品牌"和13个"国际信 誉品牌"。榜单前十的深圳品牌有腾讯、中国平安等。 报告显示，中国500强品牌总价值同比增长3%，达到2万亿美元，展现出中国品牌在全球竞争中的强劲 韧性与创新活力。 短视频平台抖音以1058亿美元的品牌价值连续两年蝉联榜首，其全球化布局与内容生态创新持续释放商 业潜力。 国家电网凭借绿色转型与数字化升级战略，品牌价值跃升至856亿美元，首次超越中国工商银行（791亿 美元），跻身第二。 工商银行、建设银行、农业银行等国有大行稳居前十，其中，中国银行以26.5%的 ...

Core Viewpoint - The American Distilled Spirits Association expresses a desire for continued negotiations between the U.S. and the EU to ensure that tariffs on distilled spirits are permanently reduced to zero [1] Industry Summary - The American Distilled Spirits Association is advocating for the elimination of tariffs on distilled spirits, which could significantly impact trade relations and market dynamics between the U.S. and the EU [1]

印度政府官员：在英国贸易协议下，尚未设定烈酒关税减免的最低进口价格。 ...

[Table_Title] 证券研究报告 / 公司点评报告 预调酒短期承压，烈酒业务有望突破 事件： [Table_Summary] 公司于 2025 年 4 月 28 日发布 2024 年年度报告与 2025 年一季度报告。 2024 年实现营业收入 30.48 亿元，同比下降 6.61%；归母净利润 7.19 亿 元，同比下降 11.15%。2025 年一季度实现营业收入 7.37 亿元，同比下 降 8.11%；归母净利润 1.81 亿元，同比增长 7.03%，2025Q1 利润增长好 于收入增长。 点评： 2024 年经营承压。分产品来看，预调鸡尾酒业务 2024 全年实现营业收 入 26.77 亿元，同比下降 7.17%，产品结构上移叠加原材料成本下降，毛 利率同比提升 2.42%。食用香精业务全年实现营收 3.37 亿元，同比增长 6.30%，增长较为稳定，毛利率同比提升 1.48%。分区域来看，华东/华南 /华北/华西地区营收分别为 10.15/9.3/5.56/5.13 亿元，分别同比- 6.84%/0.41%/-7.29%/-12.37%，华西地区下滑较为明显。受产品生命周期 影响，鸡尾酒产品 ...

Group 1 - The earthquake in Yunnan's Dali Prefecture, specifically in Eryuan County, registered a magnitude of 4.8 on April 24, with a depth of 10 kilometers, and was followed by a 4.9 magnitude earthquake in Ganzi Prefecture, Sichuan on April 26 [3][5][18] - The local government has terminated the emergency response for the earthquake, indicating that there were no casualties or significant property damage reported [3][17] - The earthquake has raised concerns about potential impacts on tourism during the upcoming May Day holiday, although local hotels are experiencing increased demand and price hikes [10][14][16] Group 2 - The Dali Brewery, a subsidiary of Chongqing Brewery, reported that its operations were unaffected by the earthquake, maintaining normal production activities [4][5] - The Dali Brewery has a production capacity of 430,000 kiloliters, making it the largest production facility under Chongqing Brewery, and has seen significant growth in its brand sales due to local cultural events [7][8] - The cloud of uncertainty surrounding the earthquake has led to a surge in hotel bookings in Eryuan County, with some hotels reporting limited availability and increased prices for the holiday period [14][16] Group 3 - The YunTuo Distillery, a single malt whisky factory established by Diageo, is also located in Eryuan County and reported no disruptions to its operations following the earthquake [8][10] - The distillery is strategically positioned to leverage local natural resources, including the unique Bai culture and the area's tourism potential, which has been recognized by local authorities [8][9] - The distillery is expected to open in November 2024, contributing to the local economy and tourism sector [8]

私募、基础设施基金上涨，黑石三季度业绩超预期。 今年第三季度黑石集团（BX.N）可分配给股东的收入同比增长 6% 至 13 亿美元。旗下私募股权基 金和基础设施基金表现强劲，分别上涨 6.3% 和 5.5%，推动基金价值上涨、幅度为三年来最高。盈 利指标超预期外，黑石资管规模创纪录、为 1.1 万亿美元。本季度，黑石还以 160 亿美元的企业价 值收购澳大利亚数据运营商 AirTrunk，是今年规模最大的一笔杠杆收购。 雀巢销量不及预期，正在精简组织架构。 雀巢（NESN.S）今年前三个季度销售额同比降 2.4% 至 671 亿瑞士法郎（约为 5521 亿元），各地 区销售额均同比降低。业绩不及预期的原因除了俄乌冲突后谷物、能源等成本变高之外，CEO 傅 乐宏还提到消费需求减弱，预期持续疲软，第四季度将进一步去库存。雀巢还在经历组织架构和执 行董事会的变动，为了 "提升集团绩效和加速转型"。 中国市场疲软，保乐力加季度表现低于预期。 烈酒公司保乐力加（PERP.PA）旗下有马爹利干邑和绝对伏特加等品牌。在截至 9 月底的财季里， 保乐力加销售额同比下降 5.9% 至 27.83 亿欧元。和 LVMH 集团一样 ...