建议收购预计将产生协同效应，包括精简营运带来的成本效益、提高利润保留率以及增强集团餐饮业务 与食品和酒品分销分部之间的交叉销售机会。透过拥有平台，公司将可直接获取客户数据和洞见，从而 实现更精准的市场营销及产品开发。此举亦将透过巩固其市场地位及为未来扩张提供可扩展平台，加强 集团的竞争优势。该等裨益预期将对集团的收入增长及盈利能力产生积极贡献，为股东创造长期价值。 建议收购作为平台营运商的目标公司，符合集团垂直整合其食品和酒品销售及分销能力的战略举措，从 而加强对其供应链及销售渠道的控制。由于目标公司已根据框架协议成为分销公司食品和酒品产品的业 务伙伴，建议交易将使集团能够透过收购控股权，(如本公布所述，在目标公司现时委聘的第三方技术 支持服务供应商的支持下)灵活决定平台发展的战略方向。 平台作为生态核心载体，是国内首个采用DAO(去中心化自治组织)治理模式的电商平台，创建了一个透 明且以用户为中心的市场，因而独树一帜。其主要特点包括(a)区块链整合，确保所有交易和用户互动 数据均安全记录于链上;(b)人工智能增强内容创作，采用垂直多模态语言大模型AI技术的孪生数字人主 播进行产品直播及人工智能客服助理来提升 ...

尽管特朗普的关税政策已开始产生影响，但美国消费者似乎仍在积极消费。美国6月份零售销售环比增长0.6%，扭转了此前连续两个月的跌势。这一强 劲反弹超出了大部分经济学家的预期，有望缓解市场对消费者支出紧缩的担忧。 此外，零售报告中唯一涵盖服务业的餐饮和酒吧消费也增长了0.6%。 美国6月零售销售环比 0.6%，预期 0.1%，前值 -0.9%。 美国6月零售销售(除汽车)环比上涨0.5%，预期值0.3%，前值-0.2%。 美国6月零售销售(除汽车与汽油)环比上涨0.6%，预期值0.3%，前值0%。 值得注意的是，直接计入GDP核算的"控制组"零售销售在6月份也环比增长了0.5%，使得该类别的销售额同比增长4.0%，进一步印证了消费支出的韧 性。 此次强劲的零售销售数据，与此前部分"软数据"调查所反映的悲观情绪形成对比。这或许预示着，消费者实际的支出行为比市场普遍感受到的情绪更为 积极和稳健。 美国国债收益率走升，2年期国债收益率日内上行逾3bp，现报3.921%。 17日，美国商务部公布的数据显示： 投资者和经济决策者正密切关注美国消费者支出能否持续，因为消费支出贡献了美国经济约三分之二的动力，而特朗普的关税政策 ...

Group 1 - The 618 shopping festival concluded with over 1,700 participating brands, with domestic products accounting for half and contributing nearly 60% of total sales [2] - The consumption market is shifting from "essential stockpiling" to "quality self-satisfaction," with significant growth in fashion and pet categories, both exceeding 25% [2] - Nearly 900,000 ice cream units were sold during the event, with popular brands including Yili, Haagen-Dazs, and others, highlighting consumer demand for diverse flavors [2] Group 2 - The "national subsidy" policy has driven young consumers to purchase tech products that combine design and emotional value, with items like GoPRO cameras and Leica instant cameras gaining popularity [3] - Pet product sales saw a strong increase, with a year-on-year growth of over 25%, and domestic brands dominating the top 10 sales list [3] - Essential pet food remains the primary driver, accounting for 92% of total pet product sales, while smart pet products are emerging as a new growth point [3]

Core Viewpoint - The newly revised regulations on government spending, particularly the "new ban on alcohol," have significantly impacted the liquor industry, especially the white liquor sector, which is experiencing a shift in consumption patterns and market strategies [1][3]. Group 1: Regulatory Impact - The revised regulations prohibit high-end dishes, cigarettes, and alcohol during official receptions, leading to a strong reaction in the white liquor industry [1]. - Following the introduction of the "Eight Regulations" in 2012, the white liquor industry faced a significant downturn, with government consumption accounting for 40% of the market at that time. Currently, this figure has dropped to approximately 5%, with leading companies like Moutai seeing government channel sales below 1% [3]. Group 2: Market Response - Despite the new regulations, the actual sales impact on the white liquor industry is expected to be limited, as the government consumption share has already decreased. However, the capital market reacted negatively, with the white liquor sector index dropping over 2% on the first trading day after the announcement, and major companies like Moutai and Wuliangye seeing stock price declines of 2%-3% [3]. Group 3: Industry Adaptation - The white liquor industry is actively adapting to the new policy environment by diversifying its product offerings across different price ranges and consumption scenarios. Leading brands maintain strength in social drinking contexts, while lower-priced options are gaining popularity among cost-conscious consumers [5]. - Companies are innovating to attract younger consumers through product and scenario innovation, as well as cross-industry collaborations. For instance, Luzhou Laojiao has introduced low-alcohol beverages with herbal ingredients, and Wuliangye has partnered with esports IPs to launch new products [7].

上海金枫酒业股份有限公司 会 议 材 料 二○二五年五月二十三日 上海金枫酒业股份有限公司 时间：2025 年 5 月 23 日（星期五）下午 14:00，会期半天。 地点：上海市普陀区宁夏路 777 号（海棠大厦）5 楼 主要议程： 主持人：董事长 祝勇 预计的议案》； 独立董事将在本次会议上宣读《金枫酒业 2024 年度独立董事述职报告》。 上海金枫酒业股份有限公司 各位股东： 今天，我受董事会委托，向大会作 2024 年度工作报告。 一、二〇二四年度工作回顾 认真履行职责，不断完善公司治理，强化规范运作与风险管控。围绕上市公司高质 量发展目标，为着力提升企业核心竞争力，增强抗风险能力，充分发挥专业职能。 与经营管理团队共同研究酒业创新发展思路，努力提升品牌影响力，增强渠道掌控 力，促进企业发展。 （一）加强董事会建设，强化规范运作。 董事会，审议了 42 项议案并形成决议，召集年度股东会和两次临时股东会，共提交 审议 13 项议案。按时完成年度利润分配，对关联交易等重点监管事项持续跟进执行 情况，确保股东会决议事项有效执行。 董监高的培训；二是根据修订后的独立董事制度，完成公司独立董事的调整；三是 根据 ...

作者｜Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，亚朵集团于11月19日发布了2024年第三季度财报。 财报显示， 亚朵集团 第三季度 营收18.99亿元（人民币，下同），同比增长46.7%；调整后净利 润为3.84亿元，同比增长41.2%；调整后EBITDA为5.32亿元，同比增长40.0% 。 | ｜ 营收 | | | | | --- | --- | --- | --- | | 18.99 亿元 | | 同比增长 +46.7% | | | 净利润 | | 同比增长 | 개 | | 3.81 | 亿元 | +45.3% | | | 调整后净利润 0 | | 同比增长 | | | 3.84 | 亿元 | +41.2% | | | ‖ 调整后EBITDA® | | 同比增长 | | | 5.32 亿元 | | +40.0% | | | 全年业绩指引 | | | | | 预计2024年营收同比增长 | | イ48%~52% | | 在动态复苏的环境下，亚朵集团本季度实现RevPAR（平均可出租客房收入）380元，ADR（日均房 价）456元，OCC（入住率）80.3%，经营业绩稳 ...