证券日报网讯惠泉啤酒（600573）11月20日在互动平台回答投资者提问时表示，公司会结合实际业务需 求，进行认真研判，统筹规划，推进打造具有明显、独特优势品牌战略。目前，公司主要产品是惠泉一 麦、惠泉小鲜、惠泉欧骑士、惠泉1983和老惠泉系列产品等。其中惠泉10°P小鲜啤酒、惠泉11°P欧骑士 啤酒和惠泉12°P老惠泉啤酒先后荣获中国酒业协会酒类新品"青酌奖"。公司还研发上市白茶、初念系列 特色精酿和推出无醇、低卡产品等丰富多样风味新酒产品，满足多元化的个性选择，获得不同消费群体 喜爱。未来，公司会紧跟消费趋势，持续丰富产品品类，完善多元化、个性化产品矩阵，满足消费者不 断提高的高品质需求，融入消费者美好生活。 ...

Core Insights - The company reported a total revenue of 576 million yuan for the first three quarters of 2025, a year-on-year decline of 2.59% [1] - The net profit attributable to shareholders was 99 million yuan, an increase of 23.70% compared to the same period last year, marking five consecutive years of growth [1] - The company aims to innovate its product offerings to capture new growth opportunities in a competitive market [2] Financial Performance - Total revenue for the first three quarters: 576 million yuan, down 2.59% year-on-year [1] - Net profit attributable to shareholders: 99 million yuan, up 23.70% year-on-year [1] - Non-recurring net profit: 96 million yuan, up 28.3% year-on-year [1] - Operating cash flow: 199 million yuan, down 7.9% year-on-year [1] - Inventory decreased from 70.46 million yuan at the end of 2024 to 59.59 million yuan as of September 30, 2025, a decline of 15.43% [1] Market Performance - Sales revenue in the domestic market (Fujian province): 425 million yuan, up 0.74% year-on-year [1] - Sales revenue in external markets: 140 million yuan, down 13.77% year-on-year [1] - The number of distributors in external markets increased by 19 during the reporting period [1] Product Development - Sales revenue from mid-to-high-end products: approximately 403 million yuan, up 1.42% year-on-year [2] - Sales revenue from regular products: approximately 162 million yuan, down 13.33% year-on-year [2] - The company plans to launch new products, including low-calorie and non-alcoholic options, to diversify its offerings [2] Marketing Initiatives - The company hosted the fourth Huichuan Beer Carnival in August, aiming to deepen emotional connections with consumers through immersive brand experiences [4] - The company is exploring innovative marketing strategies to differentiate itself in a saturated market [4] Shareholder and Management Changes - As of September 30, 2025, seven of the top ten shareholders had changes in their holdings, with five increasing and two decreasing their shares [4] - A management change was announced, with Liu Xiangyu stepping down as general manager while remaining as chairman, and Yi Wenxin appointed as the new general manager [4] Upcoming Events - The company will hold a performance briefing on October 27, 2025, where management may provide further insights into strategic plans and future outlook [5]