证券日报网讯 1月28日，老白干酒在互动平台回答投资者提问时表示，股价走势受到宏观经济、政策环 境、市场情绪等多种因素影响。从长远看，股票市值取决于公司的内在价值。公司董事会及管理层持续 做好经营管理工作，通过不断的夯实公司主营业务，持续提升公司经营管理水平和经营质量，以提升公 司盈利能力为重心，做好公司的价值创造工作。公司严格按照相关法律法规要求及时履行信息披露义 务，有关公司情况敬请关注公司在上海证券交易所网站和指定信息披露媒体披露的信息。 （文章来源：证券日报） ...

Group 1 - The company, Laobaigan Liquor, stated on November 24 that it will disclose information about its top ten shareholders and the corresponding number of shareholders at specific points in time in its regular reports to ensure equal access to information for all investors [2] - The company emphasizes adherence to the principle of fairness in information disclosure [2] - Investors are encouraged to pay attention to the company's relevant announcements regarding shareholder information [2]

Core Viewpoint - Minsheng Securities has issued a "recommended" rating for Laobaigan Liquor (600559.SH) based on its analysis of the company's performance and market conditions, highlighting the weak demand under current circumstances and the relative resilience in Shandong province [1] Group 1: Company Performance - Laobaigan Liquor's Q3 profitability is under pressure, indicating challenges in the current market environment [1] - The report suggests that the demand for Laobaigan Liquor is relatively weak due to scene constraints, but the company shows resilience in its home province of Shandong [1] Group 2: Market Outlook - The analysis anticipates a potential recovery in market conditions, which could positively impact Laobaigan Liquor's performance in the future [1]

Core Viewpoint - Laobaigan Liquor reported a growth in both revenue and profit for the first half of 2025, continuing the upward trend from 2024, despite a significant decline in cash flow from operating activities [1][3]. Financial Performance - In 2024, Laobaigan Liquor achieved a revenue of 5.358 billion yuan, a slight increase of 1.91% year-on-year, and a net profit attributable to shareholders of 787 million yuan, up 18.19% [3]. - For the first half of 2025, the company reported a revenue of 2.481 billion yuan, reflecting a year-on-year increase of 0.48% [3]. - The total profit for the first half of 2025 was 430 million yuan, marking a 4.27% increase compared to the same period last year [3]. - The net profit attributable to shareholders for the first half of 2025 was 320 million yuan, which is a 5.42% increase year-on-year [3]. - The net cash flow from operating activities for the first half of 2025 was -45.801 million yuan, a decline of 120.51% compared to the previous year, indicating potential financial pressure [3]. Executive Compensation - Despite the growth in performance, the compensation for Vice Chairman Zhang Yuhang remained stable at 510,000 yuan for 2024, consistent for three consecutive years, which is lower than that of another Vice Chairman, Wang Zhanggang, who earned 600,000 yuan [3]. - The executive compensation levels at Laobaigan are considered low within the liquor industry [3]. Shareholding and Reduction Plans - Zhang Yuhang holds 270,000 shares in the company, which is the same as the Deputy General Manager, while Wang Zhanggang holds 300,000 shares, aligning with the Chairman and General Manager [4]. - Zhang Yuhang had previously disclosed a share reduction plan in February 2025 but did not execute any sales during the planned period, maintaining his shareholding [6][7].