本文来自微信公众号： 秦朔朋友圈 （ID：qspyq2015） ，作者：何菲，题图来自：AI生成 明显感觉到，我生活的时代，我生活的城市和这座城市的人，到处都在转型。 大约在千禧初年到2017、2018年左右，我们友人之间小酌多数是喝红酒，不管真懂还是假懂，总得 在饮上一口后，用风雅感性的词汇评价一番。为此我还浮光掠影地研究过几年红酒，写过不少相关文 章。 后来，红酒热潮渐渐退去，进入平台期，身边友人们小酌的风格偏好渐渐往白酒方向转化。 前几年某次友人小聚，我坐在中医药大学少壮派教授身边，他执意鼓励我喝点白酒，说是补气、抗病 毒。从此我小酌时的主流佐餐酒换成了白酒。记得那天还有友人往白酒壶里加了半壶蒜瓣，说是能杀 灭病毒。坊间也有"加了蒜片的光瓶玻汾，能喝出青花汾的味道来"的传说。 杯里乾坤大，壶中日月长。 世界六大蒸馏酒的诞生地都分布在北纬25～40度之间，中国的两大名酒带——川贵名酒带和江淮名 酒带，都处于这个地理位置。 有很多年，白酒一直延续高端化的宏大叙事，有"向天再借五百年"的气势，代言人都是影视剧里常常 出现的帝王将相，再低调也是千里江山、雄厚激荡的调性，白酒似乎是传统文化的集大成者。 那些年，飞 ...

当地时间 7 月 10 日，Agencia Comercial Co.，Ltd 控股公司 Agencia Comercial Spirits Ltd (以下简称：Agencia Comercial ) 公开向美国证券交易委员会 ( SEC ) 递交 IPO 申请，拟 AGCC 为股票代码，申请纳斯达克上市。该公司最早于 2025 年 3 月 31 日向 SEC 递交秘密申请。 根据招股书，该公司计划以每股 4 至 6 美元，发行 175 万股，拟募集资金 700 万至 1050 万美元之间。 Agencia Comercial 总部位于台湾，是一家威士忌经销商，提供进口威士忌及相关服务，业务主要包括瓶装和原桶威士忌销售，以及从桶到瓶的分销，涵品牌 授权的威士忌装瓶、包装和销售。 财务数据 股权结构 2020 年 7 月 7 日，成立了 Agencia Comercial Co.，Ltd (台湾); 2025 年 2 月 17 日，成立了 Ping Shiang Business Ltd (BVI); 2025 年 3 月 7 日，成立了 Agencia Comercial Spirits Ltd (开曼) | ...

封面新闻记者 喻奇树 7月9日，丰谷酒业召开干部大会。川发资产党委委员、职工董事、工会主席张文宣布任职决定：谌超同志任丰谷酒业党委委员、书记，委派其为丰谷酒业 董事、提名为董事长人选。 资料显示，谌超，1989年6月出生，今年仅36岁，四川西昌人，重庆邮电大学项目管理专业毕业，研究生学历。 他曾任泸州老窖中国白酒交易中心董事长，主导搭建白酒行业首个全链条数字化交易平台，通过区块链、大数据技术实现产品溯源与渠道管控，推动传统 酒企从 "渠道驱动" 向 "数据驱动" 转型。 还出任过四川脱单文化创意发展有限公司董事长，推出过脱单榴莲酒。作为泸州老窖集团旗下的公司，该公司还整合了不少明星股东。 泸州老窖集团官网曾在2020年以《我身边的劳模》为题对谌超进行专题报道，称其为：老窖集团最年轻的中层正职、探索混合所有制改革的"先行者"、构 建大数据营销平台的"探索者"、推动全员直播带货的"网红达人"。 2017年3月，国资平台四川发展控股有限责任公司和绵阳科发集团通过司法拍卖方式，以2.56亿元接手了包括丰谷酒业在内的原汉龙集团资产包。目前， 丰谷酒业由四川发展资产经营投资管理有限公司、绵阳科技城发展投资（集团）有限公司 ...

又一款白酒将迈入10亿级大单品行列。 于东来在自己个人社交媒体上表示，"自由爱"单品今年营收可能达10亿元左右。 公开资料显示，"宝丰·自由爱"系胖东来常年销售排名Top 3产品，其以75元/瓶的售价受到消费者追捧， 根据部分不完全统计数据，"自由爱"系列产品单日销售量在3000箱至4000箱，而在节假日甚至可能高达 约7000箱，庞大的销售量让合作方宝丰酒业从濒临倒闭变为跻身清香型酒企的"第二梯队"，根据行业披 露，宝丰酒业通过代工生产"自由爱"在2024年获得约5亿元销售额。 7月9日，南都湾财社-酒水新消费指数课题组记者注意到，胖东来创始人于东来在其个人社交媒体上近 期发文，表示胖东来自有白酒品牌"自由爱"单品今年营收可能达10亿元左右。于东来还表示："努力把 胖东来和合作企业成就为国际品质标准企业"。 据南都湾财社记者了解，"自由爱"是胖东来自有白酒品牌名称，而营收有望达10亿元的产品，主要系指 胖东来与宝丰酒业于2022年底联合推出的清香型白酒"宝丰·自由爱"（或称自由爱1995）。另据南都湾 财社记者此前报道，胖东来与酒鬼酒合作打造的"酒鬼·自由爱"新品包装也已发布。 值得注意的是，今年开始胖东来 ...

就如何提升服务质量，张德芹指出，要牢牢把握"服务"核心，以消费者为中心，从"找到消费者、为消 费者提供服务"入手，精准定位目标客群，拓展多元触达渠道，优化服务全流程。 要拿出过硬的措施，建立服务考核评价机制，做好"服务革命"，真正让经销商和消费者感受到茅台的服 务温度。要加大市场投入力度，强化品牌定位宣传，推动文化体验馆转型发展，进一步做好系列文化活 动，从产品体验、品牌认知到文化共鸣等维度为消费者提供更丰富、更立体、更有"仪式感"的服务与价 值。 要强化执行力，在姿态上"俯下身子"，在行动上"沉到一线"，深入研究分析市场情况，真正帮助经销 商、消费者解决问题。要与经销商保持"亲清"关系，强化沟通机制，畅通信息渠道，把经销商视为共同 开拓市场的战友，构建健康、透明、公正的合作生态。 7月8日，贵州茅台（600519）公众号发布贵州茅台酒销售有限公司2025年半年市场工作会召开的消息。 当中介绍，2025年上半年，销售公司始终保持战略定力、坚定发展信心，不折不扣落实集团党委和经营 班子各项决策部署，深度践行"卖酒向卖生活方式"转变，高效统筹需求端、供给端、渠道端"三端"共 振，完成了既定经营任务，为下半年进一步 ...

Core Insights - The 618 shopping festival has concluded, leading to varied price movements in the white liquor market, with some products experiencing price increases while others continue to decline [1][2][3] Price Trends in Major Cities - In Guangzhou, among 21 sampled white liquor products, 9 saw a decrease in average retail price, while 8 experienced an increase, and 4 remained unchanged [2] - Notably, high-end products like Moutai and Guojiao 1573 have seen price drops, with Moutai's average retail price falling to approximately 2304 RMB, a decrease of about 100 RMB from the previous period [2][3] - In Shenzhen, Moutai's average retail price is reported at 2298.5 RMB, with a notable decline in several high-end products due to ongoing market pressures [7][10] - East Dongguan's market shows a mixed trend, with 9 products increasing in price and 5 decreasing, highlighting the volatility in high-end liquor pricing [12][13] Online vs. Offline Pricing - Online platforms, particularly instant retail channels, are showing lower prices compared to offline supermarkets, with Moutai priced at 2229 RMB online, which is about 75 RMB lower than the overall average [3][8] - The price discrepancies between online and offline channels are significant, with products like Junpin Xijiu and Qinghua Lang being sold for much lower prices online compared to their offline counterparts [3][8] Impact of Regulatory Changes - The ongoing "ban on alcohol" has significantly impacted sales, particularly in high-end segments, leading to price reductions as businesses attempt to stimulate demand [9][10] - The combination of the 618 festival and regulatory changes has created a challenging environment for liquor companies, as they navigate maintaining sales volume and pricing stability [1][17] Summary of Average Prices - The average prices for key products as of July 4th are as follows: - Moutai: 2367.62 RMB [19] - Wuliangye: 1010.27 RMB [19] - Junpin Xijiu: 833.17 RMB [20] - Qinghua Lang: 943.11 RMB [20] - Guojiao 1573: 993.42 RMB [20]

Core Viewpoint - Constellation Brands, Inc. demonstrated resilience in its beer segment despite a slight dip in overall sales, allowing the company to reaffirm its full-year guidance amidst a challenging market [1][3]. Financial Performance - The company reported fiscal first-quarter earnings per share of $3.22, which was below the $3.30 consensus but above Bank of America’s estimate of $3.00, driven by stronger-than-expected beer gross margins and lower SG&A costs [2]. - Total sales were slightly below expectations due to softness in both beer and wine & spirits, but the company maintained its fiscal year guidance, which may raise skepticism given the weaker first-quarter trends [3]. Segment Analysis - The beer segment is expected to improve starting in the second quarter, aided by easier comparisons, although June scanner data indicated mid-single-digit declines [4]. - Depletions in the beer segment fell 2.6% year-over-year in the first quarter, slightly worse than Bank of America’s estimate but in line with consensus, while shipments declined by 3.3% [4]. Operational Insights - The quarter had one less selling day, negatively impacting shipment and depletion growth rates by more than 1%. No further selling day impacts are expected for the remainder of fiscal year 2026 [5]. - Gross margins in the beer segment exceeded forecasts at 53.1%, attributed to approximately $40 million in cost and operational efficiencies. Marketing spend was $201 million, lower than the estimated $220 million, and is expected to be concentrated in the first half of the fiscal year [5]. Wine & Spirits Performance - The Wine & Spirits segment underperformed with sales of $280.5 million, although operating losses of $6 million were better than anticipated [6]. Market Valuation - Bank of America analyst Peter T. Galbo maintained a Neutral rating on Constellation Brands with a price forecast of $180, reflecting a justified discount to their 5-year average due to ongoing challenges in the beer segment, including softer demand from Hispanic consumers and broader industry headwinds [6].

Core Viewpoint - Constellation Brands Inc (NYSE:STZ) shares are experiencing a 2.2% increase to $168.52, recovering from premarket losses despite missing fiscal first-quarter earnings and revenue expectations due to lower demand for alcoholic beverages and increased costs from aluminum tariffs [1] Group 1: Stock Performance - STZ is on track for its fourth consecutive daily gain, although it has recently faced monthly and quarterly losses, with a decline of 22.9% in 2025 and a five-year low of $159.35 marked on June 20 [2] - The stock has rebounded from its lows, but the 20-day moving average may limit today's gains [2] Group 2: Analyst Ratings - Analysts from Evercore ISI and Bernstein have reaffirmed their "outperform" ratings on STZ, indicating continued confidence in the stock despite recent challenges [1] Group 3: Options Activity - Options traders are exhibiting a notably bullish sentiment, as evidenced by a 50-day call/put volume ratio of 2.57, which is higher than 96% of readings from the past year [3] - Today's options activity shows 12,000 calls and 11,000 puts traded, which is five times the intraday average volume, with the most active contract being the weekly 7/3 175-strike call [4]

一杯李渡酒，半部江西史 。李渡的文化内涵深刻的影响了每一位调研组嘉宾对中国白酒文化的认知。"江西人杰地灵，李渡文化深厚。我觉得李渡要进一 步发展壮大，首先要讲好江西故事，拉进与消费者的距离。"京报传媒副总经理刘莲认为，如今的消费者更愿意为能同自身情感产生共鸣的商品买单。 白酒品牌如何发挥自身文化优势引领发展， 面对行业深度调整白酒产业如何创新求变？6月26日至28日，由李渡酒业主办的2025"文化引领 创新求变"媒体 调研行在南昌举行。来自北京日报、扬子晚报、齐鲁晚报的媒体代表在李渡酒业相关负责人陪同下在李渡酒庄、元代烧酒作坊遗址、知味轩体验中心等实 地调研。 李渡和它的"国宝"故事 走在李渡元代烧酒作坊遗址，空气中弥漫着浓郁的酒香。元、明、清三代古窖池遗址依次排列， 从元代的"圆形"、明代"腰形"到清代"长方形"展示着窖池 的演变。 据介绍，2002年6月李渡酒厂改建厂房时，发现地下有古代酿酒遗迹。经江西省文物考古研究所进行抢救性发掘，有元代酒窖、明代水井、晾堂、炉灶、 蒸馏设施、水沟、墙基及酿酒遗迹，布局配套，完整齐全。 当年李渡烧酒作坊遗址被评为2002年度中国十大考古新发现之一。 自此 "中国最老古窖 ...

Constellation Brands (STZ) reported $2.52 billion in revenue for the quarter ended May 2025, representing a year-over-year decline of 5.5%. EPS of $3.22 for the same period compares to $3.57 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.57 billion, representing a surprise of -2.07%. The company delivered an EPS surprise of -3.59%, with the consensus EPS estimate being $3.34.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...