(二)股东会召开的地点：广东省广州市天河区金穗路 62 号侨鑫国际金融中心13层 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ●本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2025年12月4日 ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议召集人为公司第十一届董事会，会议以现场记名投票和网络投票相结合的方式进行表决；本次 会议由董事长Jo?o Abecasis先生主持，会议的召开及表决方式符合《公司法》及《公司章程》的规定。 (五)公司董事和董事会秘书的列席情况 1、公司在任董事9人，列席9人，董事长 Jo?o Abecasis 先生，董事Alan Choi蔡泓汉先生、Andrew Emslie 先生、Lee Chee Kong 先生、Chin Wee Hua 先生、吕彦东先生，独立董事袁英红女士、盛学军先 生、朱乾宇女士列席会议； 2、总裁 Lee Chee Kong ...

证券代码：600132 证券简称：重庆啤酒 公告编号：2025-033 重庆啤酒股份有限公司 2025年第二次临时股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2025年12月4日 (二)股东会召开的地点：广东省广州市天河区金穗路 62 号侨鑫国际金融中心13层 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议召集人为公司第十一届董事会，会议以现场记名投票和网络投票相结合的方式进行表决；本次 会议由董事长Jo?o Abecasis先生主持，会议的召开及表决方式符合《公司法》及《公司章程》的规定。 (五)公司董事和董事会秘书的列席情况 1、公司在任董事9人，列席9人，董事长 Jo?o Abecasis 先生，董事Alan Choi蔡泓汉先生、Andrew Emslie 先生、Lee Chee Kong 先生、Ch ...

0:00 境外旅客入境中国旅游，在哪些城市更想买买买？最近，商务部和财政部公布了最新一批"国际化消费 环境建设试点城市"名单，全国15座城市成功入选。新增的10座城市引起网友热议：为什么是这10座城 市？为什么有些城市落选了？别急，咱今天就把这份名单一次性说透！ 先说说老面孔——北京、上海、广州、天津、重庆，这5个城市早在2021年就被选中"打头阵"。经过4年 多努力，它们交出了亮眼成绩单：社会消费品零售总额占全国超八分之一，老字号数量占了三分之一， 在面向境外游客的离境退税销售额上，都占了全国七成！不过呢，和世界主要国家比，咱们入境消费占 GDP比重才0.5%，人家可是1%-3%，这说明啥？"歪果仁"的消费潜力还没完全挖出来，得靠更多城市一 起使劲！ 再来看看"新成员"——这次新入选的10座城市包括：南京、杭州、厦门、青岛、武汉、长沙、深圳、成 都、昆明、西安。要说起这10座城市，更是"八仙过海，各显神通"！比如深圳、成都，社零总额早就破 万亿大关了，妥妥的"消费大佬"；西安、南京、杭州这些省会城市，不光经济增速快，还揣着一堆"世 界级旅游王牌"——兵马俑、夫子庙、西湖等等，这几个景点，单拎一个出来都是王炸 ...

Core Insights - The cross-industry collaborations among liquor companies have become a prominent feature during the industry's deep adjustment phase, driven by policy changes, consumption transformation, and intense competition [2] - The white liquor industry is experiencing a decline in production for the eighth consecutive year, with a 7.2% year-on-year decrease in the first quarter and 60% of companies facing price inversions [2] - The trend of cross-industry collaborations is a strategic choice for liquor companies to break through growth bottlenecks and adapt to younger consumer preferences and diverse consumption scenarios [2] Cross-Category Collaborations - Liquor companies are extending beyond traditional alcoholic beverages to adjacent consumption scenarios, such as Wuliangye's introduction of a Chinese-style craft beer "Wind Fire Wheel" [3] - Zhenjiu Li Du Group has launched a high-end super beer "Bull Market" priced at 88 yuan per bottle, expanding from banquet liquor to everyday leisure drinks [3] - The collaboration between China Resources Beer and Guyue Longshan has produced "Yue Xiao Beer," integrating yellow wine and beer with fruit flavors to cater to young consumers' preferences for light drinking [3] Sports Collaborations - The collaboration of liquor companies with sports is emerging as a new blue ocean, exemplified by Wuliangye's official partnership with FIFA 2026 World Cup [7] - Wuliangye has launched four co-branded products to meet various consumer needs, from high-end collections to everyday drinking [7] - The Jiangsu City Football League has gained popularity, significantly increasing the exposure of brands like Yanghe and Jianshiyuan [7] Cultural IP Collaborations - Cultural IP collaborations are evolving from mere symbolic associations to deeper value resonance, as seen in Yanghe's partnership with the hit film "Fengshen Part Two," achieving 10.1 billion views on Douyin [10] - Moutai's "Walk into Series" cultural products blend Chinese liquor culture with classic elements from different countries, facilitating cultural exchange [10] Channel Collaborations - Channel collaborations are transitioning from simple supply agreements to deep co-creation, with brands like Jiugui and the popular supermarket Pao Donglai achieving immediate sell-out success [12] - Hema's collaboration with Guangliang Wine and Fen Yang Wang has led to top sales in light bottle liquor [12] - Yanghe's exclusive product with JD.com leverages digital supply chains for nationwide distribution, marking a shift towards direct consumer engagement [12] Evolution of Collaboration Models - Recent cross-industry actions by liquor companies show a shift from short-term collaborations to long-term partnerships, focusing on value co-creation rather than just traffic acquisition [15] - The scope of collaboration is expanding from single-point breakthroughs to ecological synergy, with some companies building comprehensive cross-industry ecosystems [15] - The strategic rationale behind these collaborations is to address industry challenges and seek new growth trajectories amid intense competition [15] Changing Consumer Dynamics - The transformation in consumer structure is a core driver of cross-industry collaborations, with the 25-35 age group increasing from 18% in 2020 to 27% in 2024 [16] - Younger consumers prioritize brand culture, design aesthetics, and social attributes, making traditional liquor brands less appealing [16] - The diversification of consumption scenarios is prompting liquor companies to expand product forms beyond traditional business banquets and holiday gifts [16] Challenges of Cross-Industry Collaborations - Cross-industry collaborations are not without risks, including potential brand value conflicts and channel compatibility issues [18] - The traditional cultural heritage of liquor brands may clash with the trendy attributes of some collaboration fields, risking brand integrity [18] - The emergence of product homogeneity poses a challenge, as many companies enter similar collaboration spaces without core innovation [18] Future Outlook - The cross-industry collaboration trend represents a self-reform of the traditional liquor industry amid changing times, injecting innovation into the sector [19] - The future of the liquor industry will ultimately return to core competitiveness in quality and culture, with cross-industry collaborations serving as an extension of these core values [19] - As the excitement around cross-industry collaborations fades, only those companies that achieve quality upgrades and cultural innovation will thrive in the competitive landscape [19]

Core Viewpoint - The article discusses the challenges faced by the Chinese liquor industry, particularly focusing on the declining sales and changing consumer preferences among younger generations, highlighting the need for companies to adapt to these shifts in order to survive [5][6][12]. Group 1: Maotai and the Liquor Market - Duan Yongping, a notable investor, expressed strong confidence in Maotai, stating that investing in Maotai does not require consideration of macroeconomic conditions [6][8]. - Despite Maotai's stock price being at a high point, Duan remained unfazed, indicating a lack of comparable alternatives in the market [8]. - Maotai's third-quarter report showed a single-digit revenue growth, with the wholesale price of its flagship product dropping below 1700 yuan, marking a historical low [8][10]. Group 2: Overall Liquor Industry Performance - The third quarter of this year saw A-share liquor companies report their worst performance in a decade, with total revenue down 18.42% year-on-year and net profit declining by 22.03% [10][15]. - The average inventory turnover days for the liquor industry reached 900 days, indicating significant overstock issues [18]. - The decline in sales is attributed to reduced business banquets and a shift towards more practical gifting, alongside a growing disinterest in liquor among younger consumers [20][23]. Group 3: Young Consumers and Changing Preferences - Young consumers are increasingly favoring casual drinking settings over traditional formal occasions, with family gatherings and friend meet-ups becoming the most common consumption scenarios for liquor [23]. - Liquor companies are attempting to appeal to younger audiences by diversifying their product offerings, such as launching lower-alcohol beverages and engaging in cross-industry collaborations [26][28]. - The shift in consumer behavior indicates that liquor must transition from being a "social currency" to a "consumer product" to resonate with younger generations [30][62]. Group 4: Beer Industry Insights - The beer industry is experiencing a decline in production, with last year's output at only about 70% of its peak a decade ago, and revenue down by 5.7% [31][33]. - Despite the overall decline, some beer companies are achieving growth by focusing on high-end products, with premium beer sales significantly outpacing regular offerings [37]. - The shift in purchasing channels, particularly the rise of instant retail, has allowed many Chinese beer companies to better connect with younger consumers [41]. Group 5: Wine Market Challenges - The domestic wine market has seen a drastic reduction in production, with output down over 77% from its peak in 2015 [55]. - The wine industry is struggling to maintain relevance, as it is perceived as overly formal and difficult for average consumers to appreciate [58]. - Wine companies are now attempting to reposition their products in more casual settings to attract younger drinkers, moving away from traditional high-end contexts [60][62].

Core Insights - The Chinese beer industry is undergoing a transformation from scale expansion to quality enhancement, with Yanjing Beer leading this change through a "second entrepreneurship" initiative and a commitment to "reviving Yanjing" [1][2] - Yanjing Beer has achieved continuous growth in sales, revenue, and profit, with net profit increasing from 197 million in 2020 to 1.056 billion in 2024, and brand value surpassing 237.9 billion, earning a spot in the "Asia's 500 Most Valuable Brands" [1][14] Transformation and Strategy - Yanjing Beer is implementing a comprehensive transformation involving nine major reforms across various aspects such as ideology, organization, mechanism, production, operation, marketing, research and development, culture, and governance [2][4] - The company has established a new organizational structure to enhance operational efficiency, focusing on five key centers: production, marketing, supply chain, accounting evaluation, and technology research and development [5][7] Market Positioning - Yanjing Beer is focusing on high-end products and new consumer trends, with the Yanjing U8 product becoming a significant success, achieving a sales volume increase from 110,000 kiloliters in 2020 to nearly 700,000 kiloliters in 2024, reflecting a compound annual growth rate of 62% [8][10] - The company has successfully increased the proportion of mid-to-high-end products from less than 60% in 2020 to 67.01% in 2024, with expectations to exceed 70% in the first half of 2025 [10][13] Financial Performance - Yanjing Beer has shown strong financial resilience, achieving a beer sales volume of 4.0044 million kiloliters and revenue of 14.667 billion in 2024, with net profit reaching 1.056 billion [13] - The company's gross profit margin has improved from 39.19% in 2020 to 45.66% in the first half of 2025, driven by the optimization of high-end product structures and effective supply chain management [13][14] Brand Value and Recognition - Yanjing Beer has been recognized for its brand value, ranking 237.916 billion in the "China's 500 Most Valuable Brands" list and maintaining its position in "Asia's 500 Most Valuable Brands" [14] - The company has embraced a new positioning as "China's own beer," showcasing the quality and charm of Chinese manufacturing through various initiatives, including ESG management and carbon footprint reporting [14][15]

Core Insights - The article highlights the successful transformation of Jin Xing Beer from a traditional lager producer to a key player in the Chinese craft beer market, emphasizing its strategic shift towards "Chinese craft beer" and its effective market positioning [2][18]. Group 1: Company Background - Jin Xing Beer, established in 1982, has evolved from a local manufacturer in Central China to a significant modern enterprise in the Chinese beer industry, particularly in the craft segment [1]. - The company's development reflects the evolution of the Chinese beer industry over the past four decades [2]. Group 2: Challenges Faced During Transformation - Jin Xing Beer faced intense competition from major players like China Resources, Tsingtao, Budweiser, and Yanjing, as well as numerous local brands, particularly in Henan, which has the lowest price and profit margins in the country [4]. - The traditional deep distribution model was costly and complex, leading to low profits and high competition [4]. - As an established brand, Jin Xing Beer struggled with perceptions of being traditional and conservative, making it difficult to attract younger consumers [4]. - The company previously relied on traditional lagers, which faced growth challenges amid rising consumer expectations [4]. - Managing a large workforce of nearly a thousand salespeople posed significant efficiency challenges [4]. Group 3: Transformation Strategy - The core of Jin Xing Beer’s transformation strategy involved new products, new channels, new communication methods, and new organizational structures [4][18]. - Product Transformation: The company shifted from "mass lagers" to "Chinese craft beer," integrating local elements into brewing processes to create differentiated products that appeal to Chinese tastes [5][18]. - Channel Transformation: Jin Xing Beer moved from serving numerous small restaurants and supermarkets to focusing on high-potential channels in major cities, including modern retail and instant delivery [7][10]. - Communication Transformation: The company transitioned from traditional advertising to new media operations, utilizing platforms like Douyin and Xiaohongshu to engage with younger consumers through interactive content [11][18]. - Organizational Transformation: The company redefined its sales force from traditional roles to "super salespeople," focusing on high-potential modern retail channels and enhancing their strategic capabilities [12][15]. Group 4: Key Takeaways and Insights - Jin Xing Beer successfully capitalized on the trends of consumption upgrading and quality revolution by entering the craft beer segment with a unique "Chinese" concept [17]. - The company avoided direct competition with giants in traditional channels, leveraging its understanding of the local market to establish advantages in new products and channels [17]. - High-end craft products require modern channels for effective display, creating a synergistic effect between product and channel [17]. - The transformation emphasized the importance of organizational capability, with a focus on developing "super salespeople" to enhance human resources into valuable capital [17][18].

Core Insights - Constellation Brands, the parent company of Modelo Especial and Corona, is facing significant challenges due to the Trump administration's immigration policies, which have led to a decline in the purchasing power of Latino consumers, a key demographic for the company [1][9][10] - The company's sales have sharply declined, with Modelo losing its title as "America's best-selling beer" to Michelob Ultra, and its stock price has dropped nearly 40% this year, making it one of the worst performers in the S&P 500 [1][9][10] Group 1: Company Challenges - Latino consumers make up about half of Constellation Brands' beer consumers, the highest proportion in the industry, and California, the largest market for the company, is a primary target for immigration enforcement [2][10] - The company has warned investors that changes in immigration laws and enforcement policies could negatively impact consumer behavior, particularly among Latino consumers [6][13] - In the last quarter, the company's beer shipments to U.S. retailers fell by 8.7%, with projections indicating a potential decline of up to 4% in fiscal year 2026 [7][14] Group 2: Market Context - The overall beer industry is experiencing a downturn, with consumers shifting towards non-alcoholic beverages and cannabis, but Constellation Brands had previously bucked this trend due to its strong Latino consumer base [4][5][12] - A Gallup survey indicates that while alcohol consumption among white adults is declining, consumption among minority groups remains stable, highlighting the importance of the Latino market for Constellation Brands [4][12] - The company has historically positioned itself to capitalize on the growing Latino population in the U.S., which has nearly doubled over the past 25 years to 68 million [3][11] Group 3: Future Outlook - Analysts are questioning whether the decline in demand from Latino consumers is a temporary issue or a long-term threat to the company [8][15] - Some analysts believe that Constellation Brands can mitigate current challenges by expanding distribution and marketing in areas with lower Latino populations and introducing smaller, lower-priced products to attract budget-conscious consumers [15] - The company's future recovery largely depends on the Trump administration's immigration policies; increased enforcement could lead to further consumer hesitance and a shrinking market [15]

天眼查App显示，近日，宁夏宁沈啤酒有限公司成立，法定代表人为王景汝，注册资本500万人民币， 经营范围为许可项目：酒制品生产；酒类经营；饮料生产；食品互联网销售；食品销售；食品生产；道 路货物运输（不含危险货物）。（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经 营项目以相关部门批准文件或许可证件为准）一般项目：技术服务、技术开发、技术咨询、技术交流、 技术转让、技术推广；草种植；谷物种植；含油果种植；普通货物仓储服务（不含危险化学品等需许可 审批的项目）；运输货物打包服务；国内货物运输代理。（除依法须经批准的项目外，凭营业执照依法 自主开展经营活动）。 ...

（编辑 楚丽君） 证券日报网讯 12月3日，燕京啤酒在互动平台回答投资者提问时表示，未来，公司将持续深化大健康领 域布局，通过燕京营养家等渠道，打造线上线下联动的健康消费场景，为消费者提供更多科学、安全的 健康选择。 ...