破局2026：白酒寒冬下的生存智慧与行业重生。 日前，在2025年寒冷的行业氛围中，酒仙集团董事长郝鸿峰发表"破局2026——酒业冬天里的破局之道"的演讲，为行业指明了三条突围路径：连锁化转 型、短视频营销创新和高性价比产品战略。 这些洞察不仅是对当前困境的回应，更是对未来行业格局的前瞻性预判。 A、寒冬实相：白酒行业的深度调整 政策层面的变化尤其值得关注。在"高质量发展"和"共同富裕"的政策导向下，过度依赖高端消费、商务宴请的白酒市场必然面临转型阵痛。 中高档酒的销售停滞反映出社会消费结构的深层变化。当下，消费者更加理性，消费场景更加多元，传统白酒文化需要寻找新的表达方式。 多家头部企业三季度净利润同比大幅下滑，创下近5年最大规模下滑，这表明行业调整的深度和广度已超越一般周期性波动。白酒行业正从"黄金时代"进 入"青铜时代"，从资源驱动转向效率驱动，从品牌溢价转向价值回归。 B.连锁化：白酒零售的必然进化 郝鸿峰将白酒连锁化比作小药店、小饭店被连锁品牌取代的历史进程，这一类比极具洞察力。 中国白酒零售长期以来呈现高度分散状态，传统烟酒店、商超渠道占据主导，效率低下且体验参差不齐。连锁化能够解决这一行业痛点。 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月19日，酒仙集团董事长郝鸿峰在北京发表主题为"破局2026"的迎新演讲。 新浪声明：新浪网登载此文出于传递更多信息之目的，并不意味着赞同其观点或证实其描述。文章内容 仅供参考，不构成投资建议。投资者据此操作，风险自担。 责任编辑：宋雅芳 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月19日，酒仙集团董事长郝鸿峰在北京发表主题为"破局2026"的迎新演讲。 他表示，本轮调整中，受到冲击最大的是夫妻烟酒店，酒企应该"减量稳价 以退为进"。同时，泡沫期 也是酒业专业人士最好的机会。郝鸿峰透露，容大酱酒已签约超800家经销商。 新浪声明：新浪网登载此文出于传递更多信息之目的，并不意味着赞同其观点或证实其描述。文章内容 仅供参考，不构成投资建议。投资者据此操作，风险自担。 他表示，本轮调整中，受到冲击最大的是夫妻烟酒店，酒企应该"减量稳价 以退为进"。同时，泡沫期 也是酒业专业人士最好的机会。郝鸿峰透露，容大酱酒已签约超800家经销商。 责任编辑：宋雅芳 ...

Industry Insights - Low-alcohol beverages are currently a trend but are not seen as the future of Chinese liquor. The high pricing of these products indicates a lack of genuine intent to cater to young consumers [5][6][9] - Young consumers are less inclined to purchase traditional Chinese liquor due to its high price point, preferring more affordable options like fruit wine and beer. As they gain more experience and income, they may develop a taste for high-quality liquor [6][9] - The storage value of low-alcohol liquor is minimal, as evidenced by the lack of price appreciation over the past decade, contrasting with the significant price increase of high-alcohol liquor [6][9] - The current market dynamics indicate a significant price competition among liquor producers, driven by overproduction and a mismatch between supply and demand. This situation is expected to persist for the next 3 to 5 years [9][14] - The liquor distribution channels are facing challenges, but this adjustment period presents an opportunity for channel development and profitability in the long run [9][10] Company Developments - The company has been expanding its offline retail presence, aiming to open 10,000 stores in the next three years, leveraging the removal of upstream production constraints [19][20] - The company emphasizes a competitive pricing strategy, proposing that premium liquor should only have a minimal markup to attract price-sensitive consumers [20][22] - The company is focusing on enhancing its brand image and market presence through innovative marketing strategies, including the development of personal brands by entrepreneurs [15][23] - The company has reported a 20% year-over-year revenue growth in the third quarter, indicating a strong operational performance [19]

Core Insights - The overall revenue of JiuXian Group is expected to grow by 20% year-on-year in Q3 2025, despite a challenging market environment [1] Group 1: Revenue Growth Factors - The successful招商 (recruitment) of Rongda Sauce Wine has significantly contributed to revenue growth, with over 1,000 boxes sold during a tasting event in Shandong, primarily to repeat customers [1] - The performance of JiuXian Super Stores has also been impressive, with single-store sales increasing by 3-5 times year-on-year after several months of operation [1] Group 2: Market Strategy - The company emphasizes the importance of low prices and high cost-performance ratio in the current market environment, urging the industry to focus more on consumer experience and product value [1] - The chairman plans to visit Changsha to exchange ideas, indicating a proactive approach to industry collaboration and learning [1] Group 3: Previous Performance - In Q2, JiuXian Group reported a revenue growth of 10%, while Rongda Sauce Wine's sales volume increased by 70% year-on-year in the first half of the year [1]

Core Insights - The chairman of JiuXian Group, Hao Hongfeng, announced a 20% year-on-year revenue growth for Q3 2025, attributing this success to effective marketing strategies and the expansion of their "super store" model [1][2] Group 1: Revenue Growth Factors - The growth is primarily driven by the successful marketing of Rongda Sauce Wine, particularly during the National Day holiday [1] - The "super store" model has shown significant performance, with individual store sales increasing by three to five times compared to the same period last year [1] Group 2: Super Store Strategy - The first "super store" opened on July 9, 2025, employs a pricing strategy that adds only 5-10 yuan to the price of premium wines, attracting a large customer base [1] - The store offers high-value products, with specific examples like Yanghe Tequ priced at 69 yuan (originally 149 yuan) and Gu Lu Wang craft beer at 2.99 yuan per bottle on opening day [1] - The "super store" model includes ten free services, such as free wine testing and charging, enhancing its competitive edge [1] Group 3: Product Strategy - JiuXian Group implemented a barcode simplification plan in 2025, eliminating 70% of non-core product barcodes to focus resources on high-margin, high-turnover core product lines [1] - The company emphasizes a combination of online and offline channels for Rongda Sauce Wine, utilizing e-commerce platforms alongside traditional distribution networks [1] Group 4: Market Positioning - In the current market environment, the company highlights that low prices and high cost-performance ratios are crucial for success [2] - There is a call for increased attention to consumer experience and further enhancement of product cost-performance [2]