Core Viewpoint - The company demonstrates strategic resilience amidst industry fluctuations, achieving a revenue of 28.876 billion yuan and a net profit of 6.673 billion yuan in 2024, indicating a shift from scale expansion to value creation [3] Group 1: Strategic Initiatives - The company employs a dual-driven strategy of "intensive cultivation within the province and breakthroughs outside the province" to accumulate momentum for a new growth cycle [3] - The strategic upgrade reflects the logic that "strategic patience is more important than short-term growth," focusing on deep market operations, structural upgrades in products, and continuous investment in quality [3][11] - The company has increased the number of distributors by 77 nationwide in 2024, with 39 new distributors in the province and 38 outside, enhancing both quality and quantity of the distributor system [11] Group 2: Product Development - The company is rapidly constructing a "golden matrix" of products under the "dual famous liquor, multiple brands, and multiple categories" strategy, with the seventh generation of "Hai Zhi Lan" being upgraded for quality enhancement [7] - The "Dream Blue M6+" targets the 600-800 yuan price range, enhancing market share in wedding scenarios, while the crystal version appeals to new middle-class consumers through innovative design and smart anti-counterfeiting [8] - The company has established a "three-true certification system" for its premium products, achieving a terminal premium rate of 45% in core markets and successfully breaking into the thousand yuan price range [10] Group 3: Digital Transformation - Digital innovation is accelerating channel empowerment through a "one product one code" system, creating a digital closed loop from consumption to user profiling and precise marketing, resulting in a consumer database of millions [13] - The company aims to leverage brand and product strength to enhance transformation and innovation, creating greater value for consumers and society [13]

4月29日，洋河股份披露的财报显示，2024年公司实现营业收入 288.76 亿元，归属于上市公司股东净利 润 66.73 亿元。 在白酒产业步入结构性变革阶段与格局重塑期的背景下，洋河股份通过实施战略转型步伐，以品质焕新 工程、渠道体系重构、商业模式创新等系统性改革方案，为实现高质量发展积蓄势能。 全矩阵布局，供应链支撑 洋河股份作为老八大名酒，是中国白酒行业拥有洋河、双沟两个中国名酒，两个中华老字号，洋河、双 沟、蓝色经典、珍宝坊、梦之蓝、蘇等六枚中国驰名商标，两个国家级 4A 景区，两个国家工业遗产， 一个全国重点文物保护单位的企业。在 GYBrand 全球品牌研究院发布的"2024 年度中国最具价值品牌 500 强"研究报告中，公司以 909.79 亿元的品牌价值排名中国白酒行业第三；在世界知名品牌价值研究 机构 Brand Finance 发布的"2024 年全球最具价值酒类品牌榜 单"中，公司以 63 亿美元品牌价值排名全 球第五。 这离不开公司数年如一日的积淀。洋河的老酒战略不仅提升了产品品质，更赋予了品牌深厚的文化内 涵，彰显了其在高端市场的强大竞争力。高端年份白酒一直以其独特的魅力吸引着全球 ...

Core Viewpoint - Yanghe Co., Ltd. achieved a net profit of 6.673 billion yuan in 2024, demonstrating operational resilience amidst a challenging liquor industry cycle [1] Group 1: Financial Performance - In 2024, Yanghe Co., Ltd. reported an operating income of 28.876 billion yuan and a net profit attributable to shareholders of 6.673 billion yuan [1] - The company’s performance is notable given the overall decline in earnings or losses reported by many liquor companies during the same period [1] Group 2: Strategic Adjustments - Yanghe Co., Ltd. has proactively slowed its growth to build a more comprehensive product matrix, focusing on quality and consumer segmentation [3] - The company has successfully positioned itself in the high-end market, with its "Dream Blue Handcrafted Class" being the first to receive certification as a high-end vintage liquor [3] Group 3: Product Development - In 2025, Yanghe Co., Ltd. plans to launch the seventh generation of "Sea Blue," featuring high-quality aged liquor, and a new line of affordable bottled liquor [4] - The company emphasizes a differentiated competitive edge through its "old cellar, old craft, old liquor" strategy, supported by significant production and storage capabilities [4] Group 4: Market Trends and Innovations - The liquor industry is shifting from growth driven by scale to enhancing consumer value, with Yanghe Co., Ltd. adapting to this trend by innovating its product offerings [6] - The company has introduced products targeting younger consumers and international markets, including creative cultural products [7] Group 5: Corporate Social Responsibility and ESG - Yanghe Co., Ltd. has been recognized for its commitment to social responsibility and environmental sustainability, including donations to disaster relief and youth development initiatives [7][8] - The company has achieved zero-carbon certification for its production facilities, becoming a model in the liquor industry [8] Group 6: Stakeholder Relations - Yanghe Co., Ltd. is focused on building a "manufacturer-distributor community" to strengthen relationships with distributors and ensure their rights [11] - The company plans to distribute at least 70% of its net profit as cash dividends to shareholders from 2024 to 2026, with a total cash dividend of over 7 billion yuan expected for 2024 [11]