ST通葡再度涨停，6个交易日内录得5个涨停，累计涨幅为23.53%，累计换手率为16.21%。截至9:33， 该股今日成交量342.58万股，成交金额1069.31万元，换手率0.82%。最新A股总市值达13.46亿元，A股 流通市值13.19亿元。 近日该股表现 | 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.04.25 | -3.23 | 6.18 | -190.40 | | 2025.04.24 | 5.08 | 3.11 | 842.28 | | 2025.04.23 | 4.98 | 5.28 | 350.81 | | 2025.04.22 | 4.85 | 0.31 | 193.61 | | 2025.04.21 | 5.10 | 0.52 | 112.12 | | 2025.04.18 | -0.78 | 0.44 | -42.91 | | 2025.04.17 | 0.39 | 0.66 | 30.59 | | 2025.04.16 | -1.54 | 0.59 | -128.23 | | 20 ...

Core Viewpoint - Tianyoude Liquor's net profit has decreased significantly due to increased market expenses and the implementation of a stock incentive plan, impacting the company's financial performance in 2024 [1][2]. Financial Performance - In 2024, Tianyoude Liquor reported revenue of approximately 1.255 billion yuan, a year-on-year increase of 3.69%, while net profit was around 42.13 million yuan, a decline of 52.96% [2]. - The revenue from Qingke Baijiu priced at 100 yuan (inclusive) per 500ml and below was approximately 496 million yuan, showing a slight increase of 1.17%, while the revenue from those priced above 100 yuan was about 574 million yuan, a slight decrease of 0.66% [4]. - Other Qingke liquor categories generated about 4.11 million yuan, down 44.99%, and wine contributed nearly 7.35 million yuan, declining by over 41% [4]. Sales Channels - Revenue from channel distribution and direct sales was approximately 934 million yuan and 150 million yuan, respectively, reflecting declines of 1.49% and 1.78% [4]. - E-commerce platform revenue reached less than 144 million yuan, marking a growth of around 64% compared to 87.56 million yuan last year [4]. Regional Performance - Revenue from Qinghai province, outside Qinghai, and international markets was approximately 797 million yuan, 428 million yuan, and 3.34 million yuan, with slight declines of 1.23%, a growth of around 14%, and a drop of 55%, respectively [4]. Expense Analysis - In 2024, Tianyoude Liquor's sales, management, financial, and R&D expenses all experienced double-digit growth, with sales expenses reaching about 324 million yuan, a 12.5% increase from 288 million yuan the previous year [5]. - Advertising and market expenses were around 182 million yuan, showing a year-on-year growth of 21.37% [5]. Strategic Recommendations - To achieve breakthrough development, Tianyoude Liquor should focus on rapidly growing e-commerce channels and expanding the distribution of light bottle liquor products in markets outside Qinghai to increase national market share [5].

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.0040 | 0.0040 | 0 | 0.2000 | | 每股净资产（元） | 2.94 | 2.98 | -1.34 | 3.05 | | 每股公积金(元) | 0.56 | 0.56 | 0 | 0.56 | | 每股未分配利润(元) | 1.27 | 1.32 | -3.79 | 1.39 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 1.37 | 1.56 | -12.18 | 1.1 | | 净利润(亿元) | 0.03 | 0.03 | 0 | 1.33 | | 净资产收益率(%) | 0.14 | 0.13 | 7.69 | 6.73 | 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 27638.17万股，累计占流通股比： 41.32%，较上期变化： -203.48万股。 | 持有数量(万股) 名称 ...

Core Viewpoint - Gu Yue Long Shan, a leading Huangjiu producer, has decided to halt online sales of its high-end products to stabilize prices and enhance confidence among distributors and consumers [1][2]. Group 1: Company Actions - The company issued a notice to distributors, prohibiting online sales of four specific high-end products, effective immediately [1]. - Distributors are required to remove these products from online platforms by the end of May, with strict penalties for non-compliance [1][5]. - The decision aims to regulate the product sequence between online and offline sales channels [1][5]. Group 2: Market Context - Gu Yue Long Shan's high-end products are priced between 100 to 600 yuan per bottle, with significant price discrepancies observed on e-commerce platforms [2]. - The company faces challenges from price undercutting by some online sellers, which disrupts the market pricing system [2][3]. - The trend of controlling online sales to maintain pricing integrity has been adopted by several other liquor companies since 2024 [3]. Group 3: Financial Performance - In 2024, Gu Yue Long Shan reported revenues of 1.398 billion yuan from mid-to-high-end wines, a 12.47% increase, while ordinary wines generated 507 million yuan, up 5.10% [4]. - Despite revenue growth, the company experienced a decline in gross margins for both mid-to-high-end and ordinary wines [4]. - The company aims to enhance its high-end product offerings to improve overall profitability and maintain its leading position in the Huangjiu market [4].

欢迎扫描下方二维码关注： 对酒类包装物押金征收消费税是如何规定的？ 答： 一、 根据《国家税务总局关于印发〈消费税问题解答〉》（国税 函发〔 1997〕306号）附件《消费税问题解答》问题2规定: "根据《中华 人民共和国消费税暂行条例》的规定， 对啤酒和黄酒实行从量定额的办法 征收消费税，即按照应税数量和单位税额计算应纳税额。按照这一办法征 税的消费品的计税依据为应税消费品的数量，而非应税消费品的销售额， 征税的多少与应税消费品的数量成正比，而与应税消费品的销售金额无直 接关系。 因此， 对酒类包装物押金征税的规定只适用于实行从价定率办 法征收消费税的粮食白酒、薯类白酒和其他酒，而不适用于实行从量定额 办法征收消费税的啤酒和黄酒产品。" 二、根据《财政部国家税务总局关于明确啤酒包装物押金消费税政策 的通知》（财税〔2006〕20号）规定："……财政部和国家税务总局《关 于调整酒类产品消费税政策的通知》（财税〔2001〕84号）规定啤酒消费 税单位税额按照出厂价格（含包装物及包装物押金）划分档次， 上述包装 物押金不包括供重复使用的塑料周转箱的押金。" 三、根据《财政部国家税务总局关于调整酒类产品消费税政策的 ...

记者了解到，今年2月份，由金沙酒业旗下"摘要酒"独家冠名的总裁读书会"美好生活，书香中国"城市 行活动再启新程，首站于海南海口举办。 范世凯表示，以"美好生活，书香中国"城市行为战略支点，我们正将这种价值共振推向更深维度。通过 思想磁场与产业土壤的交互赋能，让经典理论与实战智慧在标杆企业中生根；通过摘要书友会、书香进 企业，让知识共享与经营升级产生化学反应，让全民阅读的星火点亮更多企业。 "中国人的精神世界里，好书与美酒从来都是相映成辉的知己。"范世凯提到，"摘要酒"正是金沙酒业对 书酒文化的当代诠释。金沙酒业将以上游战略为指引，在书酒共生的长河中守护文化的根脉，让传统工 艺与现代精神相拥，让地理基因与人文情怀共振，让每一滴酒都成为传递东方智慧的媒介。 （文章来源：证券日报） 本报讯 （记者张敏见习记者梁傲男）4月22日至4月23日，总裁读书会2025第九届中国企业领袖读享盛 典在北京举办。本届中国企业领袖读享盛典着重关注企业家领读示范作用，旨在深入推进全民阅读，大 力推动书香企业建设。 华润啤酒（控股）有限公司副总裁、贵州金沙窖酒酒业有限公司（以下简称"金沙酒业"）董事长范世凯 致辞时表示，总裁读书会作为现 ...

| 日期 | 当日涨跌幅（%） | 换手率（%） | 主力资金净流入（万元） | | --- | --- | --- | --- | | 2025.04.22 | 4.85 | 0.31 | 193.61 | | 2025.04.21 | 5.10 | 0.52 | 112.12 | | 2025.04.18 | -0.78 | 0.44 | -42.91 | | 2025.04.17 | 0.39 | 0.66 | 30.59 | | 2025.04.16 | -1.54 | 0.59 | -128.23 | | 2025.04.15 | 1.17 | 0.60 | 92.88 | | 2025.04.14 | 2.39 | 0.77 | -49.05 | | 2025.04.11 | 0.40 | 0.42 | 6.62 | | 2025.04.10 | 2.46 | 0.77 | -15.82 | | 2025.04.09 | 0.83 | 1.30 | -299.26 | （文章来源：证券时报网） 2024年10月26日公司发布的三季报数据显示，前三季度公司共实现营业总收入5.86亿元，同比增长 0. ...

Investment Rating - The report does not explicitly provide an investment rating for the health taxes landscape in India. Core Insights - The consumption of tobacco, alcohol, and sugar-sweetened beverages (SSBs) in India leads to significant public health challenges, with 1.6 million deaths and 49.3 million disability-adjusted life years lost annually. These products are major risk factors for noncommunicable diseases, responsible for 64.9 percent of all deaths in India as of 2019 [13] - Health taxes have been effective globally in reducing consumption and generating revenue while addressing market failures from negative externalities and internalities. India's current indirect tax system poses challenges due to its complexity and inconsistencies [13] - Reforming health taxes requires addressing inconsistencies, improving tax compliance, and introducing new tax structures based on the relative harm of each product [13] Summary by Sections Introduction - The report highlights the significant health and economic burdens associated with the consumption of demerit products in India, emphasizing the need for effective health taxes to mitigate these issues [22][27] Why Health Taxes Matter - Health taxes are justified due to significant market failures associated with demerit products, which lead to detrimental consumption patterns and economic burdens on society [28] - Taxation can correct negative externalities and internalities, enhancing welfare by reducing consumption to socially efficient levels [29][30] Consumption of Unhealthy Products in India - India is the second-largest consumer of tobacco globally, with approximately 267 million tobacco users, accounting for about 19 percent of the world's adult tobacco users [45] - The prevalence of alcohol consumption among adults in India was estimated at 17.1 percent in 2019, with significant gender differences [59] Economic Burden Associated with Unhealthy Products - The economic burden from tobacco-related costs is estimated at US$36.2 billion annually, while alcohol-related costs are around US$31.4 billion [13] Health Taxes in India - The current indirect tax system in India includes a national-level Goods and Services Tax (GST) on tobacco and SSBs, as well as state-level excise duties and VAT on alcohol, which presents challenges due to complexity and inconsistencies [13] - The report suggests increasing specific excise taxes, simplifying the tax structure, and conducting detailed state-level analyses of alcohol taxation [13] Challenges and Opportunities - The report identifies challenges in reforming health taxes in India, including knowledge gaps and the need for policy engagement priorities [6][27]

4月19日，2025年（第90届）山东省糖酒商品交易会开幕式在淄博会展中心举行。 开幕式后，山东省糖酒副食品商业协会会长薛剑锐、华夏酒报社社长吴贤国莅临云门酱酒展厅指导工作，云门酒业股份公司副总经理唐树林、高东生陪 同。 云门酒业股份有限公司副总经理葛卫忠应邀出席，并围绕云门在省内市场营销实践中如何发挥地域优势展开深度分享。他表示，云门酱酒以打造"个性云 门"为出发点，从产品、文化、工艺、宣传等多个方面，深度挖掘地域特色，结合区域性、全国性热点事件，多维度强化云门品牌的个性和优势。 4月18日下午，"发挥地域优势 加强渠道竞争 坚持鲁酒特色"主题论坛在淄博齐盛国际宾馆盛大举办，众多行业大咖与企业代表齐聚一堂，共话鲁酒发展。 云门陈酿 10 云门酒业作为鲁酒代表企业，本届糖酒会期间再度开启与消费者的零距离对话。 展厅以喜庆中国红设计风格为主，巧妙融入酿造工艺、酿造历史、地理环境以及云门发展历程和荣誉，打造集文化、历史、工艺、产品、体验于一体的综 合性体验展厅。 创新融合的体验式设计，吸引了众多消费者进入展厅打卡拍照，纷纷被云门的文化、产品、工艺所吸引，不少消费者、客商与现场工作人员深入交流并品 鉴。 作为鲁酒高 ...

4月21日晚间，岩石股份（600696）(600696，又称上海贵酒)发布的2024年年报显示，公司当年实现营 业收入约为2.85亿元，净利润约为-2.17亿元。 由此，岩石股份将被实施退市风险警示，将"披星戴帽"。岩石股份表示，公司股票4月22日停牌一天， 并于4月23日起实施退市风险警示，其股票简称由"岩石股份"变更为"*ST岩石"。 审计机构中兴财光华会计师事务所(特殊普通合伙)对上海贵酒2024年度财务报表进行审计，并出具了保 留意见审计报告。值得注意的是，这已是岩石股份连续第三年被审计机构出具"保留意见"。去年营收同 比下滑超8成经销商减少超3693家 财报显示，岩石股份2024年营业收入为2.85亿元，同比下降82.54%；净利润为亏损2.17亿元，而2023年 净利润为8707万元；经营活动产生的现金流量净额-7546.18万元。 公司在年报中称，2024年，受多方面因素影响，公司资金承压，市场投放减少。叠加公司实际控制人被 公安机关采取强制措施和控股股东及其一致行动人所持公司股票被司法冻结等一系列事件影响，经销商 对于补货、备货持更加审慎观望态度，导致公司营业收入与上年同期相比大幅减少，且经营 ...