今年过年怎么过？在白酒需求最为刚性的销售旺季，沱牌给出了它的"通关攻略"。 近日，沱牌官宣了与大热摇滚乐队五条人的春节合作，放出了春节创意短片《沱牌过年通关攻略》以及全新音乐MV《悠悠乐新年》。 作为国民名酒沱牌，在这个春节继续以精彩的营销动作，释放出市场增长信号，展现名酒发展自信。 出品丨云酒头条 年关将至，在回家过年成为国人心声的同时，白酒春节档营销大战也进入到白热化当中。 ▼点击观看视频 五条人不但在其中重新唱响了"悠悠岁月酒，滴滴沱牌情"这一经典名曲，还相当新潮地演绎了当代中青年人"过年如过关"的众生相，用音乐和情怀巧妙地 将人拉回记忆中的温馨时光，用趣味唤醒年味。 随后1月15日发布的MV《悠悠乐新年》中，五条人乐队的音乐中所自带的真实与诚挚，将沱牌名酒经典情怀演绎得更加淋漓尽致。 作为近年来的大热乐队，五条人的音乐简单、朴实，同时又充满了复古元素，视角落在普通人群当中，饱含对生活体验的深刻洞察，非常能够引起听众的 精神共鸣。 沱牌也在这一次合作中，让消费者对品牌的情感连接达到了新的高度，实现了品牌价值的再次提升，为春节旺季开了个好头。 █ 联手五条人，沱牌花式闯关春节档，拉满年味 自1月6日起，沱 ...

12月26日，以"新开局、新动能、新征程"为主题的"启航·2025金融峰会"在北京圆满举办，大会由金融界主办，汇聚监管部门、行业协会、金融机构、上市 公司、媒体等数百位相关领导和重磅嘉宾。会上，第十四届金融界"金智奖"年度评选结果重磅揭晓，舍得酒业荣获"消费者信赖产品"奖。 面对白酒消费代际更迭与理性悦己需求上升的趋势，舍得酒业精准洞察消费者对"轻负担"饮酒体验和"松弛感"社交氛围的渴望，于2025年8月底创新推出行 业首款低酒度畅饮型老酒29度"舍得自在"。该产品凭借三大核心技术破局，成功攻克低酒度与高风味不可兼得的行业难题，让29度酒体依然保有坛贮老酒的 醇厚底蕴，重新定义了轻负担饮酌体验。同时，其还推出"马上有舍得"小酒盲盒，以"老酒+盲盒"组合精准切入年轻消费潮流，多维度拓展产品饮用边界与 消费场景。 未来，舍得酒业将继续坚守品质初心，深化老酒战略，以消费者需求为导向持续推进产品与体验创新，优化渠道服务体系，在传承传统白酒文化的同时，探 索与新时代消费者建立情感连接的新路径，为推动白酒行业高质量发展、优化消费市场生态贡献更多力量。 财经频道更多独家策划、专家专栏，免费查阅>>责任编辑：栎树 "金智奖" ...

Core Insights - The company is experiencing positive signals amidst the overall pressure in the liquor industry, with significant growth in its strategic product, T68, and innovative e-commerce channels [4][5][6] Group 1: Financial Performance - In the first three quarters, the company achieved operating revenue of 3.702 billion, with a net profit attributable to shareholders of 472 million [5] - The company's ordinary liquor sales revenue increased by 16.46% year-on-year to 625 million, driven by the strong performance of T68 [5] - Operating costs decreased by 8.81% year-on-year, and management expenses fell by 13.07%, indicating improved operational efficiency [5] Group 2: Product Strategy - T68 has become a highlight for the company, ranking among the top three in the high-end light bottle liquor category in key markets [5] - The company is committed to its old liquor strategy while also expanding into new product categories, such as the 29-degree "Shede Zizai" and "Shede Blind Box" [5][6] - The product innovation strategy aims to create a clear product hierarchy and growth path, focusing on both existing and new markets [5][6] Group 3: E-commerce Growth - The e-commerce channel saw a significant revenue increase of 39.62% year-on-year, reaching 450 million in the first three quarters [5] - In the third quarter alone, e-commerce revenue surged by 71.4%, showcasing the company's differentiated approach in this channel [5] Group 4: Inventory Management - The company has proactively adjusted its strategies to improve channel inventory, leading to a healthier inventory situation [6] - The company plans to maintain its strategic focus on old liquor while advancing its multi-brand, youth-oriented, and international strategies [6]

Core Insights - The company is focusing on traditional advantageous markets such as Sichuan, Hebei, Shandong, and Northeast China, while continuing to promote national brand expansion [1] - The company is enhancing its market penetration through channel downscaling and C-end operations, aiming to create "small regions with high market share" [1] - E-commerce sales have seen a significant increase, with a year-on-year growth of 39.62% in the first three quarters [1] Group 1 - The company reported a 16.46% year-on-year increase in ordinary liquor sales revenue, reaching 625 million yuan, driven by the strong performance of its strategic flagship product, T68 [1] - The company is actively exploring new consumption scenarios and expanding its consumer base through innovative marketing strategies, including online launches and offline promotional events [2] - The company is leveraging emerging channels such as live streaming and instant retail to enhance its e-commerce sales proportion [1] Group 2 - The new product "Shide Zizai" is primarily launched through online channels, utilizing traditional fast-moving consumer goods marketing strategies to quickly validate target demographics and pricing [2] - The product is positioned to cater to various social consumption scenarios, including casual gatherings and home consumption, reflecting a focus on emotional and relaxed social experiences [2]

Core Insights - The company is focusing on traditional advantageous markets such as Sichuan, Hebei, Shandong, Henan, and Northeast China while continuing to promote national brand expansion [1] - The company aims to enhance market penetration in key cities through channel deepening and C-end operations, targeting "small regions with high market share" [1] - E-commerce sales have seen a significant increase of 39.62% year-on-year in the first three quarters of this year, driven by the company's "Internet Re-Launch" strategy [1] Market Strategy - The company is actively expanding in South China and East China, which are expected to contribute new growth points [1] - The strategic focus on the flagship product, T68, has resulted in a 16.46% year-on-year increase in ordinary liquor sales revenue, reaching 625 million [1] - The company is leveraging online channels for the launch of its new product, "Shede Zizai," which targets various consumption scenarios and aims to explore new consumer bases [1]

Core Viewpoint - Shede Liquor's Q3 2025 report shows a revenue of 3.702 billion yuan, with a net profit of 472 million yuan, indicating a narrowing decline compared to the first half of the year despite significant industry pressure [1] Group 1: Industry Challenges - The overall liquor industry is under significant pressure, with weak demand in key consumption scenarios such as business banquets and holiday sales, leading to high social inventory and downward pricing pressure [1][2] - The industry is undergoing a deep adjustment characterized by "supply clearing," shifting from scale expansion to value enhancement [2] Group 2: Company Strategies - Shede Liquor is implementing a strategy of price control and inventory reduction, maintaining stable pricing for core products despite industry-wide pricing pressures [2][3] - The company is enhancing operational efficiency through organizational restructuring, flat management, and cost control, resulting in an 8.81% decrease in operating costs and a 13.07% reduction in management expenses [3] Group 3: Product and Market Development - The launch of the low-alcohol product "Shede Zizai" has been successful, aligning with new consumption trends and achieving significant market interest [4] - E-commerce sales have grown significantly, with a 40% year-on-year increase, becoming a key driver of revenue growth [5] Group 4: Financial Performance and Market Sentiment - The company reported a 16.46% increase in ordinary liquor sales, contributing to a stable market presence during industry adjustments [5] - Institutional investors have shown increased confidence, with several funds significantly raising their holdings in Shede Liquor, indicating recognition of the company's long-term growth potential [6][7]

Core Viewpoint - Shede Liquor's Q3 2025 report indicates a revenue of 3.702 billion yuan, with a net profit of 472 million yuan, reflecting a narrowing decline compared to the first half of the year despite significant industry pressure [1] Group 1: Industry Challenges - The overall liquor industry is under significant pressure, with weak demand in key consumption scenarios such as business banquets and holiday sales, leading to high social inventory and downward pricing pressure [1][2] - The industry is undergoing a deep adjustment characterized by "supply clearing," shifting growth momentum from scale expansion to value enhancement [2] Group 2: Company Strategies - Shede Liquor is implementing a strategy of price control and inventory reduction, maintaining stable pricing for core products despite industry-wide pricing pressures [2][3] - The company is enhancing operational efficiency through organizational restructuring, flat management, and precise cost control, resulting in an 8.81% decrease in operating costs and a 13.07% reduction in management expenses [3] Group 3: Product and Market Development - The launch of the low-alcohol product "Shede Zizai" has been successful, aligning with new consumption trends and achieving significant market interest, with over 12,000 orders within 36 hours of launch [4] - E-commerce sales have grown significantly, with a 40% year-on-year increase, becoming a key driver of revenue growth [5] Group 4: Financial Performance and Market Sentiment - The company reported a 16.46% increase in revenue from ordinary liquor sales, indicating stability in the market during the industry's adjustment phase [5] - Institutional investors have shown confidence in Shede Liquor, with several increasing their holdings, reflecting recognition of the company's long-term development logic [6][7]

Core Viewpoint - The baijiu industry is undergoing a deep adjustment cycle in 2025, facing challenges such as weakened consumer demand, high channel inventory, and increased sales pressure. However, Shede Liquor has demonstrated resilience in its Q3 report, with revenue of 3.702 billion yuan and a net profit of 472 million yuan, indicating a narrowing revenue decline and a 1.49 percentage point increase in gross margin to 62.09% [2][3]. Group 1: Financial Performance - In the first three quarters, Shede Liquor achieved a revenue of 3.702 billion yuan and a net profit of 472 million yuan, reflecting a strong performance amid industry challenges [2][3]. - The company's gross margin improved to 62.09%, and management expenses decreased by 13.07% year-on-year, while operating costs fell by 8.81%, indicating enhanced operational efficiency [3]. - E-commerce sales reached 450 million yuan, a significant year-on-year increase of 39.62%, driven by the company's focus on traditional e-commerce and emerging channels like live streaming [3]. Group 2: Strategic Initiatives - Shede Liquor has adopted a dual strategy of "high-end pricing and mass market support," alongside explosive growth in e-commerce, to stabilize its market position and cultivate new growth engines [2][3]. - The launch of the low-alcohol product "Shede Zizai" has successfully tapped into new consumer scenarios, achieving over 12,000 orders in just 36 hours on JD.com, expanding the company's product boundaries [4]. - The company is committed to a long-term strategy focused on channel expansion and brand enhancement, aiming to build differentiated competitive advantages through diverse marketing initiatives and deep ESG practices [5]. Group 3: Brand and Market Development - Shede Liquor has enhanced its brand influence through cultural marketing and market activities, including collaborations with popular media and the launch of high-end co-branded products [6]. - The company has engaged in various marketing activities to deepen emotional connections with consumers, enhancing brand exposure and sales conversion [6]. - Shede Liquor has integrated ESG principles into its operations, gaining recognition in the sustainability sector, which strengthens its market position during the industry's recovery phase [6]. Group 4: Market Outlook - As of October 31, Shede Liquor's stock closed at 62.09 yuan per share, with a 5.29% increase, indicating positive market sentiment [7]. - With the upcoming consumption peak in Q4 and ongoing policies to boost domestic demand, the baijiu industry is expected to see a rebound, with Shede Liquor positioned to benefit from its strategic initiatives [7]. - The company's Q3 report highlights its adaptability and growth potential during industry adjustments, suggesting that its proactive strategies may lead to substantial performance returns as the market recovers [7].

Core Insights - Shede Liquor achieved a revenue of 3.702 billion yuan and a net profit of 472 million yuan in the first three quarters of 2025, amidst a deep adjustment in the liquor industry [1] - The company actively reduced inventory and implemented strategies such as old liquor strategy, multi-brand matrix strategy, youth-oriented strategy, and internationalization strategy, resulting in several operational highlights [1] Revenue and Growth - In the first three quarters, ordinary liquor generated a revenue of 625 million yuan, marking a year-on-year growth of 16.46%, with the strategic flagship product T68 continuing to experience rapid growth [2] - T68, launched in 2019, has become a new growth engine as it ranks among the top three in high-line bottled liquor categories in key markets [3] Product Innovation - The company launched a new product "马上有小酒" in September, priced at 98 yuan for a 100ml bottle, incorporating an innovative blind box concept [3] - In August, the company introduced the industry's first low-alcohol old liquor "舍得自在," priced at 329 yuan, leveraging advanced flavor selection technology [3] Market Strategy - The young drinking demographic presents significant potential, with a predicted market size of 4.9 billion for young drinkers in China [3] - Product innovation not only helps the company tap into the young drinking market but also reinforces its old liquor advantages and expands consumption scenarios [3] Channel Innovation - The company is accelerating its e-commerce channel layout starting in 2024, having established a deep strategic partnership with JD.com and collaborated with Meituan Shanguo [4] - The focus on e-commerce, ordinary liquor, and youth-oriented strategies has been the biggest highlight in operational performance for the first three quarters [4] Brand Strength - Shede Liquor's brand strength is a unique advantage, with its brands "Shede" and "Tuo Pai" being included in the "China's 500 Most Valuable Brands" for 22 consecutive years, with a total brand value of 190.698 billion yuan in 2025 [5] - The company has built a substantial old liquor inventory since 1976, which supports its old liquor strategy and enhances brand image through various marketing activities [5] Marketing and Promotion - The company participated in the 2025 Sustainable Global Leaders Conference and was recognized at the 2025 Responsibility China ESG Annual Ceremony for its commitment to ESG [5] - Collaborative marketing efforts, such as partnerships with popular programs and events, have enhanced brand visibility and sales [6][7]

Core Insights - Shede Liquor achieved a revenue of 3.702 billion yuan and a net profit of 472 million yuan in the first three quarters of 2025, amidst a deep adjustment in the liquor industry [1] - The company actively reduced inventory and implemented strategies such as old liquor strategy, multi-brand matrix strategy, youth-oriented strategy, and internationalization strategy, resulting in several operational highlights [1] Revenue and Growth - In the first three quarters, ordinary liquor generated a revenue of 625 million yuan, marking a year-on-year growth of 16.46%, with the strategic flagship product T68 continuing to grow rapidly [2] - T68, launched in 2019, has become a new growth driver as the mid-to-high-end price segment adjusts, ranking among the top three in high-line bottled liquor categories in key markets [2] - The company launched new products like "马上有小酒" and "舍得自在," targeting young consumers and expanding its product line to cover the 200-300 yuan price range, which is expected to create new growth opportunities [2][3] Market Potential - The young drinking population in China is estimated to be 490 million, with a market size of 400 billion yuan, presenting significant growth potential for Shede Liquor [3] - The company’s product innovation not only opens up the young drinking market but also consolidates its advantage in old liquor, expanding consumption scenarios [3] E-commerce and Sales Channels - E-commerce sales reached 450 million yuan in the first three quarters, reflecting a year-on-year increase of 39.62%, driven by strategic partnerships with platforms like JD.com and Meituan [3][4] - The company is accelerating its e-commerce channel layout starting in 2024, focusing on live streaming and instant retail to enhance sales [3] Brand Strength and Marketing - Shede Liquor's brand value reached 190.698 billion yuan in 2025, with its dual brands "舍得" and "沱牌" recognized as valuable brands for 22 consecutive years [5] - The company has leveraged its old liquor reserves to enhance brand image and has engaged in various marketing activities to boost brand recognition, including participation in the 2025 Sustainable Global Leaders Conference [6][7] - The brand has successfully integrated cultural elements into its marketing strategy, enhancing consumer emotional connection and driving sales [6][7]