诚如本公司日期为2025年3月28日的公告所披露，出售事项的完成于2025年3月28日作实。出售事项的总 代价亦于同日结清，及特别股息将从本公司所收取的总代价中支付。本公司所收取的有关总代价已扣除 该通函所披露的Macmillan Equity、Palgrave Enterprises及王女士有权收取的Pacific Surplus特别股息及 Epic Wealth特别股息。安排特别股息时，本公司发现，除非Macmillan Equity、Palgrave Enterprises及王 女士的股份从中央结算及交收系统(中央结算系统)移除，否则无法使彼等不收取特别股息。因此，本公 司现已获得陈女士提供的7110万港元免息财务援助，以便通过中央结算系统派付特别股息(包括向 Macmillan Equity、Palgrave Enterprises及王女士派付)。根据陈女士的确认，该财务援助根据GEM上市 规则第20.88条获全面豁免，原因为其乃按正常商业条款或更佳条款进行;及其并无以本集团资产作抵 押。Macmillan Equity、Palgrave Enterprises及王女士将收取特别股息，及彼等已确认将向 ...

近日，《每日经济新闻》和清华大学经济管理学院中国企业研究中心联合发布了"2025中国酒业上市公 司品牌价值榜TOP30"（以下简称：酒业TOP30）。作为国内首个针对酒业上市公司的品牌研究成果， 榜单已连续7年发布。 酒业TOP30上榜酒企的总品牌价值已高达16578亿元，较2024年增长了1378亿元。其中，贵州茅台（SH 600519）、五粮液（SZ 000858）、泸州老窖（SZ 000568）位居前三。同时，今年上榜企业增长与下降 各有15家。正增长中，古越龙山（SH 600059）、山西汾酒（SH 600809）、金徽酒（SH 603919）品牌 价值增幅位居前三，分别达到28.7%、24.4%和19.4%。负增长中，洋河股份（SZ 002304）品牌价值下 降最多，缩水111.01亿元；酒鬼酒（SZ 000799）降幅最大，减少25.6%。 瞻胜传播创始合伙人庞瑞在接受采访时表示，现阶段酒业已形成资源向头部品牌高度集中的市场特征， 这种格局的稳定性短期内难以改变，除非出现重大技术突破，或是市场观念、行业政策发生重大转变。 对于部分酒企品牌价值下降，他认为市场营销的创新滞后，可能是影响酒企品牌价值的 ...

Group 1 - Kuaijishan announced a price increase for key products, with a price adjustment of 4%-5% for pure series yellow wine, 6%-9% for three-year aged series, and 1%-9% for坛装 and 花雕 series, effective from April 1 [1] - The price increase is attributed to rising labor and operational costs, as well as current market supply and demand conditions, indicating a potential shift in consumer behavior and brand value in the yellow wine industry [1] - Kuaijishan needs to enhance consumer loyalty and purchasing willingness post-price increase to ensure sustainable development [1] Group 2 - Wuliangye has designated 2025 as the "Marketing Execution Improvement Year," focusing on advancing product strength, channel strength, market strength, service strength, and execution strength [2] - The company is particularly attentive to the performance of low-alcohol and fashionable products in response to the rise of younger consumer groups, aiming to align its product matrix with new generation consumption preferences [2] - The implementation of these strategies is expected to further solidify Wuliangye's leadership position in the liquor industry and inject new momentum into future market expansion and brand enhancement [2] Group 3 - Weilang Co. announced plans to mortgage assets to apply for a bank credit line of 23 million yuan from the Bank of China, using related subsidiaries' real estate as collateral [3] - This move is aimed at securing bank loans to meet the funding needs for normal production and operational activities [3] - Investors are advised to closely monitor the company's future financial status and market performance following this financial management action [3]

Core Viewpoint - The company is shifting its focus back to its core liquor business, as evidenced by the changes in its product offerings and exhibition strategy at the 2025 National Sugar and Wine Products Trade Fair, moving away from non-alcoholic products like ice cream and chocolate [1][2]. Group 1: Product Strategy - The ice cream division of the company was dissolved in February 2024, and the flagship store in Beijing has closed, indicating a strategic retreat from the ice cream market [2]. - The company previously achieved significant sales with its ice cream products, including a record of over 200,000 yuan in sales within 7 hours at the flagship store opening and a total of nearly 10 million cups sold nationwide [2]. - Despite the retreat from ice cream, the company plans to maintain a presence in the market through select channels, linking sales to tourism and dining experiences [3]. Group 2: Leadership and Strategic Direction - The new chairman, Zhang Deqin, emphasized the importance of innovation while maintaining the essence of the brand, indicating a balanced approach to traditional and innovative strategies [3]. - The company has stated that the ice cream business has fulfilled its goal of attracting younger consumers, leading to the decision to strategically scale back [3].

快手电商酒水行业运营专家陈帅：内容与生态协同 撬动酒业增长新机遇 细分来看，快手酒水板块以白酒为主，GMV占比在80%以上。买家以中年男性为主，占比达到 77%，主要集中在新线城市。TOP5人群标签是：小镇中老年、都市男性、都市银发、资深中产和小镇 青年。 陈帅介绍，酒企入驻快手，有三种路径。首先可以作为货主来入驻，通过官方商城上架货品，可以 享受流量和货款的补贴；其次供货给主播，进行分销带货；再次可以打造自播账号，售卖给消费者。 而在自播商家板块则有4种类型。 "2024年快手酒水新增10个破亿品牌，近500个酒水自播商家增长超100%。"3月22日，在由《中国 经营报》举办的"传承与创新——千年酒文化的破局之道"糖酒会沙龙闭门会上，快手电商酒水行业运营 专家陈帅分享了这样一组数据。 这在一定程度上表达着短视频平台对酒水行业的巨大增长潜力。陈帅还强调，短视频平台凭借用户 规模、精准触达及"内容+电商"生态，已成为酒企突破线上增量的重要阵地，同时呼吁行业抓住快手生 态红利，探索新机遇。 陈帅指出，2024年中国移动互联网用户规模达12.44亿人，短视频用户月均使用时长117小时，占全 网总时长的44.4%，用 ...

中国酒业新势力大师榜颁奖论坛在成都举办 本报讯 （记者张敏 见习记者梁傲男）3月23日，由中国酒业流通协会指导，中国酒业新势力大师榜组委 会主办，华夏美酒地理、美酒霞客承办，马斐九频道、佳酿网、千里谈酒业、老蔡酒话、酒业财经、名 酒观察、酒眼观酒、食代观察、酒度、酒业派联合承办的中国酒业新势力大师榜·颁奖论坛在成都举 行。 主 办方供图 论坛以"敢创善为 预见未来"为核心主题，聚焦向上生长的中国酒业新势力，见证他们从区域强企迈向 百亿元荣耀的"发展三部曲"。 胡跃吾表示，在各行各业都充满新势力的当下，更需要抓住结构创新带来的增长机会，今世缘酒业将坚 持将中度好酒做到极致，通过深耕次高端赛道，将中度酒带给更多消费者，从百亿元企业向百亿元品 牌、百亿元单品迈进。 马斐表示，在出众品质的基础上，"战术执行快，战略坚守稳，市场定位准"是酒业新势力崛起的关键。 论坛期间，由千里谈酒业创始人欧阳千里主持，郑州大学教授、场景营销研究院副院长刘春雄，江苏今 世缘酒业股份有限公司党委委员、副总经理胡跃吾，正一堂战略咨询机构董事长杨光，马斐九频道创始 人、九度咨询董事长马斐参加的高峰对话围绕预见未来和中国酒业新势力的前进方向展开 ...

Economic Policy - The US has imposed a 25% tariff on steel and aluminum, effective March 12, with threats of additional tariffs on Canadian imports and a 200% tariff on EU wine[6] - February CPI and core CPI in the US recorded a month-on-month increase of 0.2%, both below expectations, with core CPI year-on-year at 3.1%, the lowest since April 2021[10] - The US PPI rose 3.2% year-on-year in February, also below expectations, marking the smallest increase since July of the previous year[11] Market Trends - The S&P 500, Dow Jones, and Nasdaq indices fell by 2.3%, 3.1%, and 2.4% respectively over the week, reflecting ongoing concerns about government shutdown risks and tariff threats[22] - The US 2-year Treasury yield increased by 3 basis points to 4.02%, while the 10-year yield decreased by 1 basis point to 4.31%[26] - Gold prices rose by 1.6% to $2978 per ounce, with spot gold reaching $3000 per ounce on March 14, driven by market uncertainty and tariff policies[29] Consumer Confidence - The US consumer confidence index for March dropped to 57.9, significantly below the expected 63.1, marking the lowest level since November 2022[14] - One-year inflation expectations among consumers rose from 4.3% in February to 4.9% in March, indicating growing concerns about future economic conditions[14] Global Economic Outlook - The European Central Bank (ECB) is considering pausing interest rate cuts if data supports it, amid ongoing inflation risks[19] - Japan's central bank governor indicated that potential inflation is expected to accelerate as the economy continues to recover, with companies committing to a 5.46% wage increase[21]

Summary of Conference Call Records Company and Industry Overview - The conference call primarily discusses the operations and developments of a company involved in the gold jewelry and traditional Chinese medicine sectors, specifically focusing on its flagship brand, Tonghan Chuntang, and its gold jewelry segment [6][10][12]. Key Points and Arguments 1. **Gold Jewelry Segment Performance** - The company operates over 4,400 stores nationwide, with gold jewelry revenue reaching approximately 30 billion yuan in 2024 [6]. - The first quarter of 2025 reported revenue of nearly 5.2 billion yuan, indicating strong sales performance despite market pressures [6][12]. 2. **Market Challenges and Strategic Adjustments** - The gold jewelry sector faced pressure due to rising gold prices, which increased by over 30% since the second half of the previous year [12]. - The company is optimizing its product structure and has introduced a new product line called "One Price Good Luck" to adapt to market changes [12][13]. 3. **Expansion and Globalization Efforts** - The company is focusing on cultural globalization, with the opening of its brand 松鹤楼 (Songhe Lou) in London as part of its international strategy [8]. - Future plans include enhancing the brand's international presence and integrating traditional Chinese culture into its offerings [15]. 4. **Innovation in Product Development** - The company is innovating within its traditional product lines, such as the Han Chun series, which incorporates modern consumer needs while maintaining historical authenticity [4][11]. - Collaborations with experts in Feng Shui and traditional medicine are being leveraged to enhance product offerings [2][11]. 5. **Operational Efficiency and Channel Management** - The company is refining its operational management by closing non-core, underperforming stores and enhancing the efficiency of its sales channels, including online platforms like Douyin [12][13]. - There is a focus on improving gross margins and overall profitability through strategic adjustments in operations [13]. Other Important Insights - The company emphasizes the importance of maintaining a balance between traditional practices and modern consumer demands, aiming to create a unique consumer ecosystem [9][15]. - The historical significance of the brand, established in 1783, is highlighted as a key asset in its marketing and branding strategy [4][10]. - The integration of cultural elements into product design and marketing is seen as a vital strategy for attracting both domestic and international customers [8][15]. This summary encapsulates the main themes and insights from the conference call, reflecting the company's strategic direction and market positioning within the gold jewelry and traditional Chinese medicine industries.

名酒研究所 . 寻本质，创价值。 从中秋到国庆，消费疲软叠加存量博弈，"双节"不旺让大多数处在挣扎边缘的经销商雪上加 霜。 以下文章来源于名酒研究所 ，作者名酒研究所 茅台酒批价波动、名酒标品价格普遍"倒挂"、线上补贴"杀价"、销量下滑.....诸多现实问题让经 销商赚钱越来越难，甚至影响到了生存。根据华创证券报告显示，从今年中秋节白酒的动销情 况来看，千元以上高端品牌动销下滑5%—10%，次高端价格带下滑"双位数"以上，只有100- 300元大众价位带动销相对较好。 消费端趋于理性且保守，生产端传统品类产能过剩。在这种新消费趋势和产业背景下，经销商 要如何摆脱当前的利润困局？ 答案就是：顺应消费趋势，重构产品品类。 陷入利润困境的经销商 宏观消费环境的下行已经让渠道库存高企，经销商的动销压力巨大。从今年中秋的市场调研来 看： 礼赠消费持续疲软，团购渠道下滑明显，经销商普遍反映已无旺季的氛围。 究其根本原因， 名酒研究所 认为： 一是地产和基建投资的下滑直接导致需求端减弱；二是过 去高度依赖地方财政的高端消费场景在今年逐步出清。 当政商务需求端疲软，供给端市价不可 避免地下滑，比较典型的就是茅台酒批价在今年波 ...