今天分享的是：从2025上半年宏观经济及酒类景气指数看酒类发展趋势报告 报告共计：24页 2025上半年酒类市场趋势：线上增长亮眼，消费场景转向个人独酌 2025年上半年，宏观经济与消费市场的变化正深刻影响着酒类行业的发展轨迹。尼尔森IQ最新发布的中国酒类市场景气指数报告显示，在经济政策调控与 消费需求转变的双重作用下，酒类市场呈现出渠道分化、场景转移、价格带两极化等鲜明特征，为行业未来发展提供了清晰的方向指引。 从宏观经济背景来看，2025年上半年中国GDP实现5.3%的增长，虽保持一定韧性，但消费意愿提振仍面临挑战。过去十年，中国消费品需求整体呈震荡走 低趋势，2025年上半年促消费政策的落地在一定程度上助力市场回暖，四轮补贴合计近3700亿，重点投向新生儿、学生、低收入人群等群体，同时在体育娱 乐用品等领域拉动效果显著。不过，国外地缘政治对出口的影响、国内房地产行业恢复缓慢，以及企业面临的增长压力与降本增效需求，仍在一定程度上拖 累消费力提升。 消费者层面，"精打细算"成为主流消费心态。数据显示，72%的中国消费者在积极寻求主要工作以外的额外收入来源，这一比例高于亚太地区的69%和全球 的64%；47% ...

Core Viewpoint - The primary focus of the news is on the internationalization of Chinese Baijiu, driven by the need for Chinese liquor companies to explore global markets due to domestic economic challenges and changing consumer behaviors [1][5][8]. Group 1: Current Status and Challenges - The current state of Chinese Baijiu exports is underwhelming, with an export value of $970 million in 2024, accounting for only 2.4% of the global liquor export market [8][9]. - The internationalization of Chinese Baijiu faces multiple challenges, including cultural barriers, varying regulations across countries, and a lack of established international standards [10][11]. - The report highlights that approximately 70% of Baijiu exports rely on Chinese communities abroad, indicating a weak local sales network [6][10]. Group 2: Industry Consensus and Collaborative Development - The report aims to unify the industry’s voice and promote the cultural value of Chinese Baijiu internationally, establishing a clear identity for the product [11][12]. - It advocates for a collaborative mechanism involving government, industry associations, and enterprises to create a supportive ecosystem for Baijiu's internationalization [12][13]. - The need for international talent with expertise in both Baijiu culture and international trade is emphasized to enhance local operations [13]. Group 3: Policy and Standardization - The report will outline the tax, sales, and labeling regulations in overseas markets to assist companies in formulating effective market entry strategies [14][15]. - It will also address domestic policies that support Baijiu exports, urging the government to facilitate favorable trade conditions [15][16]. - The establishment of a standardized certification system for Baijiu is proposed to improve its recognition in international markets [16]. Group 4: Strategic Outlook - The report is seen as a milestone in transitioning Chinese Baijiu from a local specialty to a global liquor category, with predictions of significant international growth by 2025 [17]. - Future trends include a shift from product-focused to culture-focused exports, diversification of markets, and an increase in high-end market participation [17]. - The collective effort of government, industry associations, and enterprises is deemed essential for successfully promoting Chinese Baijiu on the global stage [17].

Group 1 - The upcoming Mid-Autumn Festival and National Day are expected to drive a peak in alcohol consumption, prompting regulatory actions to ensure product safety [1][3] - A joint inspection team was formed by the Salt Lake District Market Supervision Administration to conduct safety checks on alcoholic products in key retail locations, focusing on the safety of consumer products [1][3] - The inspection emphasized popular alcoholic beverages such as white wine, red wine, and beer, with a thorough examination of sourcing, quality, and labeling [3] Group 2 - Inspectors reviewed purchase ledgers and required documentation from retailers, specifically targeting well-known brands like "Fenjiu" and "Wuliangye" for authenticity verification [3] - Issues identified during inspections included incomplete purchase records and non-compliant labeling, leading to immediate corrective actions and follow-up checks to ensure compliance [3] - The administration plans to enhance market surveillance during the holiday period and maintain open channels for consumer complaints regarding counterfeit or expired products [3]

9月21日至23日，万博酱酒核心团队一行赴粤港澳大湾区的核心引擎城市——深圳，进行深度市场考察与交流活动。本次考察旨在深入了解深圳高端酒类消 费市场动态，拓展合作渠道，并探讨酱酒文化与岭南餐饮文化的融合创新。 考察首站，团队到访了在华南地区享有盛名的专业酒类运营机构、万博集团投资入股的中鉴酒庄。双方围绕酱酒市场的发展趋势、品牌建设以及精细化运营 等议题进行了深入的座谈交流。万博酱酒团队分享了其品牌理念与产品优势，中鉴酒庄则介绍了其在深圳及周边市场的渠道网络与运营经验，为后续共同推 动酱酒产业发展奠定了坚实基础。 次日，团队拜访了深圳市连山商会、深圳市安顺福实业有限公司，并与企业负责人梁旭东会长进行了亲切交流。梁会长对万博酱酒团队的到访表示热烈欢 迎，并介绍了连山商会和安顺福公司在连接乡谊、促进商贸方面的积极作用。双方就如何借助相互平台资源，发挥各自优势，精准对接在深企业，拓展圈层 营销，提升品牌影响力等话题交换了宝贵意见。 为更直观地体验本地饮食文化，考察的最后一站设在了深圳知名的餐饮老字号——凤凰楼。凤凰楼餐饮创始人方雪萍热情地接待了万博酱酒团队，并邀请大 家品尝了凤凰楼正宗地道的粤菜，在充满温情的餐叙氛围 ...

一是消费习惯改变，消费者愈发追求便捷，且临时需求激发后希望快速得到满足。二是契合性价比需 求，压缩流通环节的同时节省运营成本，叠加部分平台投入费用补贴，价格优势明显。三是供给侧驱 动，渠道方有意通过新兴渠道获取增量，品牌方为增加触达和收入愿意配合渠道进行推新、宣发等动 作。 即时零售是白酒变革期的一种尝试，预计将持续扩容 对白酒行业而言该行认为即时零售利弊兼具，利在于高效履约可创造一部分增量，且有助于品牌触达年 轻群体;弊在于线上渠道难以提供社交、鉴真服务及情绪价值，对产品价格体系有所影响，可能冲击品 牌形象。回顾历史，白酒周期更替通常伴随渠道变革，当前行业深度调整，较弱的价格和动销、较高的 库存冲击线下传统渠道利润和现金流，而线上渠道仍较为景气，拥抱即时零售不失为一种应变方式。中 外对比来看，海外国家亦有此类尝试，证明了酒水即时零售的可行性，考虑海外商品消费线上化率整体 低于国内、尤其欧美国家配送效率及成本优势一般，该行认为国内酒水即时零售还有较大发展空间。据 美团闪购测算2027年我国酒类即时零售市场规模有望达1000亿元、复合增速有望接近中双位数，白酒、 啤酒等核心品类有望受益。 风险提示：渠道转型及扩 ...

Group 1 - The company has released a guarantee for its wholly-owned subsidiary, Shanghai Rui'ao Beverage Marketing Co., Ltd., with a maximum limit of 150 million yuan [1][4] - The guarantee was initially with Bank of China Shanghai Pudong Development Zone Branch, which has now been transferred to Bank of China Shanghai Free Trade Zone Branch due to internal adjustments [2] - Recently, the subsidiary has fully repaid all principal and interest, leading to the release of the company's joint liability guarantee [3] Group 2 - The company has signed a new guarantee contract with Bank of China Shanghai Free Trade Zone Branch for its subsidiary, with a maximum limit of 150 million yuan [4] - The company plans to provide a total guarantee amount not exceeding 2.3 billion yuan for the next twelve months, with a specific limit of 75 million yuan for financing activities of the subsidiary [5] - The board of directors has been authorized to review and sign relevant contracts within the approved guarantee limits [5] Group 3 - As of the announcement date, the total external guarantees provided by the company and its subsidiaries amount to 1.45 billion yuan, which is 30.87% of the company's latest audited net assets [8]

Core Viewpoint - Xinhua Jin (600735.SH) is facing significant financial challenges, including a non-operational fund occupation of 406 million yuan by its controlling shareholder, Xinhua Jin Group, which has not been repaid as of the announcement date [1][3][4]. Group 1: Financial Situation - As of the latest report, Xinhua Jin's non-operational fund occupation stands at 406 million yuan [1][3]. - In 2024, Xinhua Jin reported a revenue of 1.637 billion yuan, a decrease of 30.97% year-on-year, and a net loss of 134 million yuan, a decline of 354.59% [10]. - For the first half of 2025, the company achieved a revenue of 669 million yuan, down 24.92% year-on-year, with a net profit of 12.87 million yuan, a decrease of 39.45% [10]. Group 2: Regulatory Actions - The regulatory authority has mandated Xinhua Jin to rectify the fund occupation issue within six months, failing which the company's stock may face suspension and potential delisting [2][4]. - The company has been instructed to actively recover the occupied funds to protect the interests of the listed company and minority shareholders [3][4]. Group 3: Shareholder Actions and Agreements - Xinhua Jin Group is in the process of transferring 100% equity of Jimo Yellow Wine to Qingdao Beer for a total consideration of 665 million yuan, but no progress has been reported in the last four months [5][8]. - The Jimo Yellow Wine company, under Xinhua Jin Group, reported a revenue of 166 million yuan in 2024, with a year-on-year growth of 13.5% [6].

人民财讯9月24日电，9月24日，郎酒股份官微发布消息，在2025郎酒秋酿开窖大典上，龙马郎系列产品 正式发布。其中，龙马郎白马定价259元/瓶，龙马郎黑马定价359元/瓶，龙马郎金马定价559元/瓶。郎 酒股份总经理汪博炜表示，龙马郎系列产品的定位如同酱香郎酒的青花郎、红花郞，是郎酒兼香的超长 期大单品。 ...

Core Viewpoint - The launch of the "Shu Li An Yi" consumption voucher program aims to promote Sichuan's local products, specifically Sichuan liquor and tea, through a collaboration between Yunshanfu APP and Vipshop, enhancing consumer access to these products while providing significant discounts [1][3]. Group 1: Consumption Voucher Details - The consumption vouchers will be available for online registration starting September 25, with a lottery system for selection [3][5]. - The vouchers offer discounts based on purchase amounts: 30 yuan off for purchases over 300 yuan, 100 yuan off for over 800 yuan, and 180 yuan off for over 1200 yuan [6][7]. - The vouchers can be used on various Sichuan liquor and tea brands available on Vipshop, including well-known names like Wuliangye and Langjiu [3][4]. Group 2: Collaboration and Sales Performance - Vipshop collaborates closely with major Sichuan brands to enhance product visibility and streamline supply chains, contributing to the "Sichuan goods going out" initiative [3][4]. - Since its partnership with Vipshop began in 2017, Wuliangye has seen significant sales growth, with sales figures reaching new highs this year [3]. - Langjiu has also benefited from the partnership, with over 70% of its purchasing users on Vipshop being super VIP members, indicating strong customer loyalty [4]. Group 3: Event Timeline and Participation - The event will run from September 25 to October 3, with specific timelines for registration, lottery results, and voucher usage [5][10]. - Participants must authorize their personal information for verification during the registration process [7][10]. - The vouchers will be credited to users' accounts by September 29 and will be valid for five days [8][10].

9月16日,京东品酒会在北京成功举办,此次品酒会上一口气让众多京东老用户品尝了七款重磅好酒,从 2025新茅台,到2013年的精品茅台,再到2010年和1992年的贵州茅台酒,还有陈年茅台酒15、陈年茅台酒30 和陈年茅台酒50。 现场,还展示了京东超市酒类业务独家销售的高端茅台酒,也是被誉为茅台"四大美人"的茅台中信金陵 酒。 在品酒会上,茅台集团总经理王莉表示:"京东作为茅台重要的战略合作伙伴,通过数字化手段让更多消费 者体验到茅台酒的独特魅力。目前,茅台全系产品在京东超市销售增长保持超40%,2025年销售规模将超 百亿。" "真"方面,京东自营所有茅台产品通过酒厂直供或入仓鉴真,能够保证 100%正品,切实解决消费者购买茅 台酒担心假货的痛点。在"全"方面,京东超市覆盖茅台全系列产品,包括所有年份茅台、文化纪念酒等满 足不同消费需求。 在"省"方面,京东超市不仅持续以稳定价格供应往年正品老酒,保证库存充足的同时,销售价格透明,并通 过"京东酒价"推动老酒价格标准化,全部茅台老酒做到"一物一鉴"让消费者买得放心。 | | | | 表中价格为障品 | | --- | --- | --- | --- | | ...