夜晚十点，几个刚加完班的女孩拐进写字楼下的便利店，从货架上提走一袋柠檬茶、几瓶气泡水，外加 两大瓶标志性的方瓶劲酒。她们结账时相视一笑："今晚的'神仙水'管够。" 与此同时，城市的另一端，几个年轻人正围坐在一起，将不同的液体倒入晶莹剔透的冰杯中。他们把这 称为"赛博许愿"——"往冰杯里灌啥，人生就是啥味"。 在奶茶卷到天际、咖啡内卷成灾的2025年，一些看似"非主流"的饮品却以意想不到的方式走红。它们没 有铺天盖地的广告，却靠着年轻人的自来水传播，悄悄爬上了潮流饮品清单。 01、劲酒：从"大叔药酒"到"大女人神仙水" 冰块成社交"标配"，糖水重返巅峰，便利店变成微醺乐园，一张由年轻人偷偷盖章认证的"网红水单"， 打开悦己饮品的新世界。 如果品牌也有"人生剧本"，那劲酒在2025年拿到的，绝对是一个让所有人意外的反转副本。它悄然褪下 了"长辈的滋补酒"这层旧外套，换上了社交媒体女孩们为它钦定的新皮肤——"姨妈神仙水"。 这场变身始于一场美丽的意外。当有年轻人第一次把褐色的劲酒倒入透明冰杯，调侃它是"国产威士忌 平替"时，创意的闸门就被打开了。但这还只是前奏。真正让它完成身份蜕变的，是无数年轻女性在社 交平台上的 ...

（记者 王瀚黎） 每经AI快讯，有投资者在投资者互动平台提问：公司大客户今年劲酒的销售情况如何？这个客户今年 订单相比去年是增长还是下滑？ 中锐股份（002374.SZ）1月26日在投资者互动平台表示，劲酒是公司主要客户，整体销售情况向好， 2025年公司对劲牌的销售较去年增长，具体相关信息请关注公司后续发布的 2025 年年度报告。 ...

丨2026年1月21日星期三丨 NO.1 习酒明确未来五年工作重点 据贵州国资微信公众号，1月16日至18日，贵州习酒投资控股集团有限责任公司第一次党员代表大会召 开，大会明确了习酒今后五年的重点工作：聚焦现代化发展路径，奋力建设世界一流企业；深耕习酒特 色生产之路，构建生产质量系统格局；激活创新驱动引擎，构建数智融合创新生态体系；全力推进文化 强企，构建"文化习酒"大体系；践行美美与共理念，绘就和谐幸福发展新图景；加强党的建设，彰显掌 舵领航核心作用。 点评：习酒确立未来五年工作重点有助于优化公司治理结构，提升品牌长期价值。作为酱香型白酒重要 力量，其战略升级或带动板块内其他企业加大技改投入，提升行业整体竞争力。 NO.3 露酒品类2025年市场规模超200亿元 据中国酒类流通协会微信公众号，近日，中国酒类流通协会会长秦书尧表示，以劲酒、梅见为代表的露 酒品类，2025年市场规模已超200亿元，较2020年翻倍，年复合增长率超10%，跃升为仅次于白酒、啤 酒的第三大酒种。露酒以其低度、柔和、健康、时尚的特性，精准切中新生代需求痛点。秦书尧预测， 至2030年露酒市场规模有望突破千亿元。 点评：露酒市场规模五 ...

Core Viewpoint - The article discusses the rising popularity of Chinese health wine, Jinjiu, particularly among young women, transforming it into a trendy social drink and a new form of "national whiskey" [2][4][10]. Group 1: Market Trends and Consumer Behavior - Jinjiu has gained traction on social media, with many young women sharing their experiences and creative cocktail recipes, leading to a significant increase in its consumer base [3][4][12]. - The brand has successfully attracted approximately 9 million new young users in the past two years, with 4 million being female consumers, indicating a shift in its target demographic [9][28]. - The price point of Jinjiu, with a 125ml bottle costing only 16 yuan, makes it accessible to a wide audience, contributing to its popularity [6][10]. Group 2: Sales Performance and Growth - In the first half of 2025, sales of Jinjiu exceeded 5 billion yuan, marking a year-on-year growth of over 50%, showcasing its strong market performance amidst a challenging industry environment [26][39]. - The company anticipates an overall sales growth of about 10% for 2025, projecting revenues to surpass 13.5 billion yuan, driven by the influx of new consumers [36][28]. Group 3: Marketing Strategies - Jinjiu's marketing strategy includes forming a dedicated content marketing team to engage with younger audiences on social media platforms, which has helped reshape its brand image [24][26]. - The brand has also capitalized on the trend of health-conscious consumption, aligning with national health strategies, which has opened new market opportunities for health-oriented alcoholic beverages [28][39]. Group 4: Industry Context - The health wine sector is projected to reach a market size of approximately 487.1 billion yuan by 2024, significantly smaller than the white wine market, which is expected to approach 8.1 trillion yuan [36]. - The overall alcohol industry is facing challenges, with many companies experiencing declining sales and profits, making Jinjiu's success particularly noteworthy [39][40].

今天分享的是：白酒行业"冬去春来"系列研究2：沉舟侧畔千帆过，露酒先发一缕春 报告共计：12页 白酒行业调整期下露酒的崛起与发展 2016年成为中国白酒行业发展的关键转折点，此后行业总产量持续下行，渠道库存高企问题逐渐凸显，加之年轻消费群体对白酒的消费 热情减退，传统增长逻辑承压，行业步入供需重塑的调整周期。而露酒虽同期逐步进入大众视野，但长期被冠以保健酒、功能酒标签， 锚定中老年消费群体，其固化认知与年轻群体追求的个性、新潮、颜值等核心消费诉求相背离，品类突破圈层面临显著结构性瓶颈。 "药酒不药"是露酒品类突破增长瓶颈的核心战略路径，"弱化药属性、强化饮用品属性"的"去药化"革新成为关键方向，具体分为标签稀 释与品类重构两类策略。这一实践有效推动露酒品类从"功能性养生饮品"向"社交型饮用品"转型，梅见酒作为代表性创新产品，为行业 提供了品类破圈的重要参考。新型露酒凭借风味创新、颜值升级与口感革新，精准捕捉年轻消费群体需求并快速崛起，据预测，至2030 年露酒市场规模有望突破2000亿元。 露酒行业在白酒行业调整期实现逆势突围，核心增长逻辑清晰。其一，健康属性契合全民养生需求，以劲酒、竹叶青等为代表的功能型 ...

Core Insights - The white liquor market is expected to see better sales during the 2026 Spring Festival compared to regular periods, but it will not match previous years' performance [1] - Key issues in the 2025 market include high inventory levels and price inversion, with manufacturers and channels focusing on destocking as the market shows signs of recovery, albeit weakly [1] Group 1: Market Trends - The 2025 Spring Festival sales are anticipated to be influenced by low-alcohol beverages, instant retail, and health wines, although these segments may not dominate due to the unique consumption patterns during the festival [1] - The overall market recovery is characterized by a focus on destocking and price stabilization, which will remain the main theme for the industry in 2026 [1] Group 2: Marketing Strategies - Leading liquor companies are ramping up marketing efforts for the Spring Festival, with significant partnerships established for promotional activities, such as collaborations with major broadcasting networks [3][5] - The effectiveness of traditional marketing strategies, such as sponsoring the Spring Festival Gala, may be diminished this year due to changing consumer engagement patterns [6] Group 3: Sales Performance - Sales conversion rates for liquor brands are expected to be lower than in previous years, with analysts predicting a decline of 50-60% compared to the same period last year [6] - Despite increased marketing efforts, the actual sales performance during the Spring Festival is projected to be weaker than in previous years, with many products experiencing price reductions rather than increases [6] Group 4: Consumer Behavior - The extended holiday and revival of banquet scenarios may provide a short-term boost to liquor consumption, but the overall high inventory levels and sluggish sales raise concerns about sustainable growth [7] - Low-alcohol products are likely to see increased consumption during family gatherings, but instant retail may not significantly contribute to sales due to logistical challenges during the holiday [11] Group 5: Health Wine Segment - Health wines have gained popularity, particularly among younger consumers, but concerns about exaggerated health claims may limit their long-term appeal [13] - The health wine market is seen as one of the few segments benefiting from category expansion, although it may not be the primary choice for gift-giving during the Spring Festival [13]

Core Viewpoint - The performance report of Hubei liquor leader Baiyunbian reveals a significant decline in sales, indicating a challenging environment for the company and the industry as a whole [2][3]. Group 1: Company Performance - Baiyunbian's projected sales revenue for 2025 is only 6.2 billion yuan, representing a year-on-year decline of over 20%, bringing its performance back to levels seen five years ago [2]. - The company ranks 98th in the "2025 Hubei Top 100 Enterprises" list, with an estimated revenue range of 8 to 9 billion yuan, which is significantly lower than its previously set target of 10 billion yuan by the end of the 14th Five-Year Plan [2]. - Over 70% of Baiyunbian's sales come from the Hubei local market, indicating a heavy reliance on regional sales and a struggle to expand outside this area [2]. Group 2: Industry Challenges - The liquor industry is entering a "volume reduction competition" phase, with pressures on consumption scenarios and pricing systems affecting even major brands like Moutai and Wuliangye [3]. - The Hubei liquor market, valued at approximately 35 billion yuan, is experiencing intense competition, with national brands like Wuliangye and Yanghe gaining market share [3]. - Baiyunbian's positioning in the mid-range price segment lacks competitiveness in the high-end market and is insufficient in the low-end market, making it vulnerable during industry adjustments [3]. Group 3: Strategic Responses - In response to declining performance, Baiyunbian has launched an ambitious "One Line Three Points" strategy aimed at deepening its presence in hotels, banquets, and group purchases [3][4]. - The management emphasizes maintaining price stability and volume through segmented incentives and digital control, with specific sales targets set for 2026 [4]. - Despite these tactical adjustments, the company faces strategic challenges that may hinder its ability to overcome regional limitations and expand its brand recognition beyond Hubei [4].

Core Insights - The rise of a health-focused alcoholic beverage, referred to as "Auntie’s Elixir," has attracted a significant number of young consumers, particularly women, leading to a sales forecast of over 10 billion yuan for the year [1][3][5] Group 1: Market Trends - The product has gained approximately 9 million new young users in two years, with 4 million being women, indicating a shift in consumer demographics for traditional alcoholic beverages [3][5] - The sales of the 125ml bottle have increased by over 50% year-on-year, positioning it as a potential first 10 billion yuan single product in the Chinese liquor market [1][5] Group 2: Consumer Behavior - Young consumers are increasingly seeking "self-care" solutions that provide immediate gratification, reflecting a shift from traditional health drinks to functional alcoholic beverages [7][8] - The product's appeal lies in its ability to address emotional needs, with young consumers viewing it as a remedy for stress and discomfort, particularly during menstruation [10][12] Group 3: Marketing Strategies - The brand has effectively targeted young consumers by incorporating traditional Chinese medicinal ingredients and launching aesthetically appealing packaging, which resonates with female consumers [10][12] - Social media campaigns on platforms like Xiaohongshu and Douyin have significantly boosted brand visibility, with related topics generating over 600 million views [11][12] Group 4: Cultural Shifts - There is a growing trend among young consumers to embrace "retro" products, reinterpreting traditional items as symbols of reliability and authenticity [13][15] - This cultural shift suggests that brands should focus on aligning with the values and preferences of younger consumers rather than solely competing on premium packaging or high-profile collaborations [15][16]

Core Insights - The company is experiencing a surge in demand for its flagship product, Jin Jiu, particularly among younger consumers, leading to supply shortages in some markets [2][3] - Jin Jiu is projected to grow by approximately 20% this year, while the overall company growth is expected to be around 10% [2] - The company has established a strong market position by focusing on health-oriented products and leveraging technological advancements in production [4][14] Group 1: Market Demand and Trends - There is a notable increase in Jin Jiu's popularity among young consumers, who are creatively mixing it with other beverages, thus enhancing its market presence [2][5] - The company has successfully attracted around 9 million new young users in the past two years, with approximately 4 million being female consumers [6] - The overall liquor industry is facing challenges, making Jin Jiu's growth particularly remarkable [3][10] Group 2: Product Development and Innovation - Jin Jiu has differentiated itself by combining traditional herbal ingredients with modern production techniques, establishing itself as a leader in the health liquor segment [4][18] - The company has invested over 3% of its annual revenue into research and development, leading to innovations in product quality and safety [14][15] - Jin Jiu's packaging and product offerings have been tailored to meet consumer demands for health and convenience, such as the introduction of smaller bottle sizes [11][26] Group 3: Corporate Philosophy and Sustainability - The company emphasizes a "four friendly" approach, focusing on user, customer, employee, and social friendliness to ensure sustainable growth [22][28] - It has implemented environmentally friendly practices, achieving 100% resource utilization of waste materials and being recognized as a national green factory [28][29] - The company has made significant contributions to social welfare, including investments in education and community water projects, totaling over 6 billion yuan [29][30]

Core Viewpoint - The decline in the price of Moutai below 1499 yuan per bottle is attributed to industry-wide adjustments, including factors like consumption downgrade and inventory issues, while niche brands like Jingjiu are gaining popularity among younger consumers [1][2][3] Industry Overview - The current state of the liquor industry shows a collective downturn among major liquor companies, unable to sustain previous price levels [2][3] - The traditional consumption logic is fading, indicating a shift in consumer preferences towards more personalized and self-satisfying choices [4][5] Company Performance - In the first three quarters of 2022-2024, the liquor industry maintained double-digit revenue growth rates of 12%, 15.37%, and 10.49%, but projections for 2025 suggest negative growth for most companies [7] - In Q3, 20 listed liquor companies reported a total revenue of 317.78 billion yuan, a year-on-year decline of 5.90%, with net profits dropping by 6.93% [7][9] - Major companies like Moutai and Wuliangye are showing signs of "growth fatigue," with Moutai's revenue at 128.45 billion yuan, a growth of 6.32%, while Wuliangye's revenue fell by 10.26% [9][10] Market Dynamics - The market is experiencing a significant shift, with traditional high-end liquor brands facing pressure while niche brands like Jingjiu are thriving, particularly among young female consumers [12][18] - The consumption landscape is evolving, with younger consumers favoring low-alcohol and health-oriented products, leading to a decline in traditional high-end liquor sales [17][32] Consumer Behavior - The younger demographic (post-85 to post-94) is becoming a key market segment, preferring convenient, low-alcohol, and easily mixable products, which is reshaping the liquor market [18][20] - The trend of "self-satisfying consumption" is emerging, where consumers prioritize personal enjoyment over brand prestige, indicating a shift in purchasing motivations [20][21] Product Innovation - Companies are adapting by introducing lower-alcohol and smaller packaging options to meet the new consumer demands for health and convenience [15][24] - Jingjiu's rise in popularity is attributed to its successful marketing as a health-oriented product, appealing to young women and aligning with modern consumption trends [12][32]