Core Viewpoint - The cross-industry transformation of Chinese wine companies is facing severe challenges during the industry's deep adjustment period, with many companies experiencing revenue growth but profit decline, highlighting the common difficulties of diversification strategies [2] Group 1: Company Performance - Gansu Mogao's revenue surged by 65.38% to 328 million RMB in 2024, but its net loss expanded from 41.44 million RMB in 2023 to 52.08 million RMB [2] - Mogao's wine segment generated revenue of 60.56 million RMB with a gross margin of 50.50%, while its biodegradable materials segment had the highest revenue at 111 million RMB but a negative gross margin of -23.34% [3] - Tonghua Wine's revenue reached 869 million RMB in 2024, but it reported a net loss of 49.88 million RMB, marking its third consecutive year of losses [6] Group 2: Business Segmentation - Mogao's losses primarily stem from its biodegradable materials and film bag segments, which have consistently reported negative gross margins since 2021 [5] - Tonghua's wine segment generated 76.23 million RMB with a gross margin of 53.40%, while its e-commerce platform revenue was 791 million RMB with a much lower gross margin of 10.72% [6] Group 3: Industry Trends - The trend of wine companies diversifying into other industries has been common over the past decade, with many attempting to enter the liquor market during the sauce liquor boom, but many faced inventory issues or price drops as the trend faded [9] - Industry experts suggest that wine companies should ideally diversify into familiar fields to mitigate risks, as many are forced to seek alternative growth avenues due to a tightening market environment [11]

此外，标准明确了葡萄酒生产企业安全隐患排查的基本要求、隐患分类、排查方式、整改措施、文件管 理和持续改进等内容，着重强调宣传教育、培训管理、档案管理和职业健康管理的重要性，为酒庄(企 业)安全隐患排查提供了系统化、标准化操作指南。 该标准的出台，填补了葡萄酒生产企业安全生产隐患排查领域的空白，将有效提升企业主动排查和及时 整改安全隐患的意识，全面提高产区安全生产水平，助力贺兰山东麓葡萄酒产业高质量发展。(完) （文章来源：中国新闻网） 中新网银川5月8日电 (记者李佩珊)记者8日从宁夏贺兰山东麓葡萄酒产业园区管委会获悉，贺兰山东麓 葡萄酒产区首个葡萄酒安全生产地方标准——《葡萄酒生产企业安全隐患排查操作指南》(DB64/T2141- 2025)将于2025年6月3日起正式实施。 该标准由宁夏贺兰山东麓葡萄酒产业园区管委会联合宁夏食品检测研究院国家市场监督管理总局重点实 验室(枸杞及葡萄酒质量安全)、宁夏农产品质量标准与检测技术研究所、宁夏农垦酒业有限公司、张裕 龙谕酒庄有限公司等9家单位共同制定。 此次标准的出台，是为了强化酒庄(企业)安全生产主体责任，加强对酒庄(企业)事故隐患的监督管理， 推动建立安全生产 ...

5月7日晚间，啤酒行业龙头青岛啤酒发布公告称，将收购即墨黄酒100%股权。啤酒龙头涉足黄酒赛道 的原因是什么，是否意味着沉寂多年的黄酒品类要起势？ 公告显示，青岛啤酒拟与新华锦集团有限公司、山东鲁锦进出口集团有限公司及山东即墨黄酒厂有限公 司签署《股权转让协议》，拟以6.65亿元及价格调整期损益金额之和的对价，收购新华锦集团与鲁锦集 团合计持有的即墨黄酒100%股权。交易完成后，即墨黄酒将成为青岛啤酒的全资子公司，标志着这家 啤酒龙头企业跨入黄酒赛道。 来源：中国商报 青岛啤酒此举是否标志着黄酒要起势？对此，一位酒行业观察人士认为，早在几年前，黄酒就被认为要 迎来风口期，但实际发展并不理想。在他看来，黄酒的受众群体很小、门槛很低，目前很难实现大的发 展。青岛啤酒此举只是小规模探索。 "青岛啤酒涉足黄酒类似茅台涉足葡萄酒业务，茅台葡萄酒上市之前曾被很多人看好，但上市后实际销 售情况一般，只是作为礼赠产品较受市场欢迎。"上述分析人士认为。 不久前，青岛啤酒刚发布了2025年一季报。财报数据显示，今年一季度，青岛啤酒实现营收104.46亿 元，同比增长2.91%；实现净利润17.1亿元，同比增长7.08%；销量为2 ...

Core Viewpoint - Australia's wine exports saw a significant increase in revenue but a decline in volume during Q1 2025, primarily driven by a rebound in the Chinese market, despite overall challenges in other regions [1][2][4]. Group 1: Export Performance - Total export revenue for Australian wine reached AUD 453 million (approximately RMB 2.108 billion), marking a year-on-year increase of 27.1%, while the export volume decreased by 1.3% to 14.2 million liters [1][2]. - Exports to mainland China experienced a dramatic year-on-year increase in both volume and value, with figures showing a growth of 1309.8% and 2334.9%, respectively, although this is compared to a period when tariffs were not in effect [4][6]. - Despite the strong performance in China, exports to other regions showed a decline, with total volume and revenue dropping by 10% and 6.8% year-on-year, respectively [4][6]. Group 2: Market Dynamics - The decline in exports to mainland China on a quarter-on-quarter basis was significant, with volume and revenue falling by 49.7% and 58.4%, respectively, indicating a seasonal dip and high domestic inventory levels [6][8]. - The average price of Australian wine exported to China decreased from AUD 11.46 per liter to AUD 9.47 per liter, reflecting market adjustments [6]. - The Australian wine industry faces considerable challenges in global markets outside of China, which are unlikely to resolve in the short term [4][5]. Group 3: Key Export Destinations - The top five export destinations for Australian wine by revenue in Q1 2025 were mainland China, the United States, the United Kingdom, Canada, and New Zealand, with mainland China accounting for 27.8% of total export revenue [3]. - The export volume rankings were led by the United Kingdom, the United States, Canada, mainland China, and Germany [3].

Core Viewpoint - Chinese wine is gaining recognition on the global stage, with the success of Zhangyu's Longyu winery at the Düsseldorf International Wine Fair marking a significant shift in the wine industry's narrative [2][4][5]. Group 1: Achievements and Recognition - Longyu's Cabernet Sauvignon, Dragon 12, was awarded the same score as Lafite and outperformed other top wines in a blind tasting, highlighting its quality [4][6]. - The "Düsseldorf Judgment" is seen as a pivotal moment, akin to the 1976 Paris Judgment, which shifted the wine industry's power dynamics [3][4]. - Longyu has won over 160 international awards, showcasing its excellence and the fusion of traditional Chinese winemaking with modern techniques [7]. Group 2: Market Position and Cultural Impact - The success of Chinese wines like Longyu is challenging the dominance of imported wines in the high-end market, aiming to change consumer perceptions that favor foreign brands [8][9]. - There is a call for establishing a unique Chinese wine culture that reflects local characteristics rather than being an extension of Western wine markets [8][9]. - The breakthrough of Longyu represents a significant step for Chinese high-end wines to assert their presence and narrative in the global wine industry [9].

宁夏产区葡萄酒入选国家外交"年礼"，或许在一定程度上提升了国产葡萄酒品牌的知名度。与白酒市场 一片向好不同的是，国产葡萄酒市场仍处于调整期，葡萄酒产量再次出现下滑。数据显示，2024年，规 模以上企业累计葡萄酒产量11.8万千升，同比下降14.5%。 国产葡萄酒在发展过程中，面临着内外受阻的局面。对于企业而言，内部面临着消费需求低迷困局，外 部面临着澳洲葡萄酒等国外品牌带来的冲击。 相关数据显示，2020-2023年，国产葡萄酒产量分别为41.3万千升、26.8万千升、21.4万千升、14.3万千 升。从数据不难发现，近年来国产葡萄酒产量持续下滑。事实上，自2012年达到产量峰值之后，国产葡 萄酒便进入了漫长的行业调整期。 与国产葡萄酒产量下跌形成鲜明对比的是，葡萄酒进口量的提升。中国食品土畜进出口商会酒类进出口 商分会发布的数据显示，2024年1-12月，自澳洲葡萄酒强势"回归"以来，进口葡萄酒便开启增长之势。 2024年全年累计进口额为15.9亿美元，增幅为37.2%；进口量2.8亿升，增幅达13.6%。在酒类进口总额 中占比达到36.4%。 中国农业大学园艺学院教授马会勤认为，从消费角度来讲，澳洲葡萄酒 ...

俄罗斯葡萄酒产业迎来了新的契机，去年俄罗斯葡萄酒的销售成绩打破了 15 年来的纪录。 对于大多数传统葡萄酒产区来说，过去的一年充满挑战。受多种因素影响，全球葡萄酒产量下降了 4.8%，降至 2.26 亿百升。 国际葡萄与葡萄酒组织的总经理约翰・巴克解释道："高温、干旱以及难以预测的天气现象是产量下降 的原因之一，此外，市场需求的减少也产生了影响。这是自 1961 年以来最差的结果，当年春季的霜冻 摧毁了欧洲的主要葡萄园。" 从葡萄园面积来看，西班牙以 13% 的占比位居首位，法国和中国均占 11%，意大利占 10%，土耳其占 6%，美国占 5%。并且，这些葡萄园的面积已连续四年缩减，2024 年 减少了 0.6%，降至 710 万公顷，巴克还指出只有意大利有少量增长。 与全球形势不同，俄罗斯的葡萄酒产业呈现出积极的发展态势。 甜酒和利口酒也具有发展潜力。 俄罗斯葡萄酒生产者联盟副主席、董事会成员亚历山大・斯塔夫采夫表示，俄罗斯葡萄酒的销售量创下 了 15 年来的最高纪录，"大约 5 亿升…… 这差不多就是目前该行业能够提供的产量。" 俄罗斯葡萄酒出 口的首要目标市场是中国。 俄罗斯农业部下属的 "农业出口" ...

Core Insights - Mogao Co., Ltd. reported a significant decline in both revenue and net profit for Q1 2025, with total revenue of 61.52 million yuan, down 24.08% year-on-year, and a net loss of 10.01 million yuan, a decrease of 1341.02% compared to the same period last year [1][3] Financial Performance - Total revenue for Q1 2025 was 61.52 million yuan, ranking 13th among peers, with a year-on-year decrease of 19.51 million yuan [1] - Net profit attributable to shareholders was -10.01 million yuan, ranking 16th among peers, with a decline of 10.82 million yuan year-on-year [1] - Operating cash flow was -36.19 million yuan, ranking 15th among peers, with a decrease of 2.89 million yuan compared to the previous year [1] Key Ratios - The latest debt-to-asset ratio is 16.50%, ranking 6th among peers, with a decrease of 1.16 percentage points from the previous quarter and an increase of 2.68 percentage points year-on-year [3] - Gross margin stands at 15.62%, ranking 15th among peers, with an increase of 1.07 percentage points from the previous quarter but a decrease of 15.17 percentage points year-on-year [3] - Return on equity (ROE) is -1.25%, ranking 15th among peers, with a decrease of 1.35 percentage points year-on-year [3] Earnings Per Share and Turnover - Diluted earnings per share is -0.03 yuan, ranking 16th among peers, with a year-on-year decrease of 1360.00% [3] - Total asset turnover ratio is 0.06 times, ranking 12th among peers, with a decrease of 0.02 times year-on-year [3] - Inventory turnover ratio is 0.31 times, ranking 8th among peers, with a decrease of 0.03 times year-on-year [3] Shareholder Structure - The number of shareholders is 25,000, with the top ten shareholders holding 133 million shares, accounting for 41.39% of total equity [3] - The largest shareholder is Gansu Agricultural Reclamation Group Co., Ltd. with a holding of 16.25% [3]

2025年4月11日，由澳门特别行政区政府旅游局支持、永利渡假村旗下品牌"Wynn Signature永利臻典"主办的"2025永利臻典——中国葡萄酒大赛"颁奖典礼在 澳门举行。逾200位全球葡萄酒专家、酒庄代表及行业精英齐聚，共同见证中国葡萄酒年度最高荣誉的揭晓。宁夏贺兰山仁益源葡萄酒庄的"仁益源道赤霞珠 2020"荣膺"年度最佳中国葡萄酒"，并包揽四项大奖。永利宣布即时启动获奖佳酿全球推广计划，助力中国葡萄酒走向世界。 | 中法庄园 珍藏马瑟兰 | | 雪山秘境 花落祥云冰酒 | | | --- | --- | --- | --- | | 河北 | 2012 | 云南 | 2023 | | 最佳东北葡萄酒 | | 最佳新疆葡萄酒 | | | 联合丹麓酒庄 别样精彩威代尔冰酒 | | 天塞 超泡酒 | | | 辽宁 | 2023 | 新疆 | 2017 | | 最佳陕甘晋葡萄酒 | | | | | 岸珀 三晋记忆 庄主窖藏赤霞珠 | | | | | 山西 | 2022 | | | | 卓越品种奖 | | | | | 農佳霞多服 | | 最佳蛇龙珠 | | | 贺兰山 珍藏霞多丽 | | 西鸽酒庄 玉鸽单一园 ...

Core Viewpoint - Gansu Mogao Industrial Development Co., Ltd. reported a significant increase in revenue for 2024, driven by strong performance in its biodegradable materials and pharmaceutical segments, while facing a decline in its wine business [2][3]. Revenue Performance - The company achieved a total revenue of 328 million yuan in 2024, representing a year-on-year growth of 65.38% - After excluding non-core business income, the revenue was 312 million yuan, reflecting a growth of 78.98% [2]. Business Segment Analysis - The wine business generated revenue of 60.56 million yuan, a decrease of 17.41% year-on-year - The pharmaceutical segment saw revenue of 67.12 million yuan, an increase of 35.71% - The biodegradable materials and products segment reported revenue of 111 million yuan, marking a substantial growth of 114.56% - The new film bag business contributed 73.71 million yuan in revenue [2]. Strategic Initiatives - The company focused on the recovery of PBAT prices, optimizing production to maintain market share - It developed new products to extend the value chain, including fully biodegradable film formulations [2]. - Mogao continued to integrate internal resources by acquiring a 49% stake in Gansu Mogao Hongyuan Agricultural Technology Co., Ltd. at zero cost, enhancing its film production capabilities [3]. - The company increased sales efforts towards its controlling shareholder and its affiliates, securing a majority of film orders [3]. Future Outlook - Mogao plans to implement a dual-driven strategy of "wine + biodegradable materials" to enhance product quality and innovate marketing approaches - The company aims to capitalize on market opportunities in the environmental new materials sector, improving R&D capabilities and production stability [3].