Group 1 - The core viewpoint of the article highlights the performance of Shede Liquor Industry in the third quarter of 2025, showcasing a steady growth in revenue and profit despite industry challenges [1][3] - For the first three quarters, the company achieved an operating income of 3.702 billion yuan and a net profit attributable to shareholders of 472 million yuan [1] - The sales revenue from ordinary liquor increased by 16.46% year-on-year, while e-commerce channel sales revenue surged by 39.62% year-on-year [1] Group 2 - The white liquor industry is navigating through pressures and recovery, with Shede Liquor adhering to its old liquor strategy and implementing a volume control and price support approach [3] - The company is continuously optimizing its profit structure and exploring new market opportunities, demonstrating resilience and stability in its operations amid industry fluctuations [3] - The improvement in performance indicates strong momentum for future growth [3]

Core Viewpoint - The article emphasizes the ongoing efforts of market regulatory authorities in China to combat trademark infringement and counterfeiting, highlighting the importance of protecting intellectual property rights and creating a favorable environment for brand value preservation [1]. Group 1: Case Summaries - Case 1: Li and others were found to have sold counterfeit "Nanfu" batteries, with a total purchase value of over 2.48 million yuan and sales amounting to 1.39 million yuan from 2017 to 2024 [2][3][4]. - Case 2: A wedding car rental company was penalized for using counterfeit "Rolls-Royce" cars, resulting in fines totaling over 710,000 yuan for 15 companies involved [5][6][7]. - Case 3: A joint operation in Guangdong led to the dismantling of 27 counterfeit shoe production sites, seizing 21,000 pairs of counterfeit products with a total value of 216 million yuan [8][9][10]. - Case 4: A significant case involving the sale of counterfeit "Arc'teryx" jackets across nine provinces, with a total value exceeding 300 million yuan, resulted in the arrest of 42 individuals [11][12][13]. - Case 5: A business in Jilin was fined for using a similar name to "City Hero" while infringing on the trademark, leading to a fine of 49,000 yuan [14][15][17]. - Case 6: A company in Gansu was penalized for selling automotive products falsely labeled as "China First Automobile Group" products, resulting in a fine of 50,000 yuan [18][19][20]. - Case 7: A karaoke hall in Guizhou was reported for unauthorized use of the "Hilton" trademark, generating revenue of 11.14 million yuan [21][22][23]. - Case 8: A tourism company in Yunnan was fined 75,000 yuan for using a similar peacock logo without authorization [24][26]. - Case 9: A food counterfeiting operation in Sichuan was dismantled, with a total value of over 20.1 million yuan in counterfeit products seized [27][28][29]. - Case 10: A tea shop in Hainan was fined 76,000 yuan for continuing to use the "Yihe Tang" trademark despite a prior court ruling against them [30][31][32]. - Case 11: A packaging materials store in Ningxia was penalized for printing unauthorized packaging for "Ningxia Goji Berries," resulting in fines totaling 4,770 yuan [33][34]. - Case 12: A tea shop in Guangxi was found selling counterfeit "Sanhe" tea, leading to criminal charges [35][36]. - Case 13: A case involving counterfeit "Shede" liquor resulted in the seizure of 3,026 bottles and over 2.57 million yuan in value [38][39][40]. - Case 14: A company in Xinjiang was found producing counterfeit liquor, with a total value of 61,500 yuan [41][42]. - Case 15: A brewery in Henan was penalized for producing beer with a label similar to "Wusu Beer," resulting in a fine of 470,000 yuan [43][44]. - Case 16: A brewery in Hebei was found to have used a similar trademark to "Budweiser," leading to fines of over 250,000 yuan [46][47][49]. - Case 17: A brewery in Heilongjiang was penalized for using a similar trademark, resulting in a fine of 26,000 yuan [50][51]. - Case 18: A case involving counterfeit alcoholic beverages with a total value exceeding 20 million yuan was reported, highlighting the challenges of tracking down unlicensed vendors [52][53].

Core Viewpoint - The article emphasizes the ongoing efforts of market regulatory authorities in China to combat trademark infringement and counterfeiting, highlighting the importance of protecting intellectual property rights and fostering a culture of respect for brands [1]. Group 1: Case Summaries - Case 1: Li and others were found selling counterfeit "Nanfu" batteries, with a total value of over 2.48 million yuan, and sales amounting to 1.39 million yuan from 2017 to 2024 [2][3][4]. - Case 2: A wedding car rental company was penalized for using counterfeit "Rolls-Royce" cars, resulting in fines totaling over 710,000 yuan for 15 companies involved [5][6][7]. - Case 3: A joint operation in Guangdong led to the dismantling of 27 counterfeit shoe production sites, seizing over 21,000 pairs of counterfeit luxury brand shoes, with a total value of 216 million yuan [8][9][10]. - Case 4: A significant case involving the production and sale of counterfeit "Arc'teryx" jackets across nine provinces, with a total value exceeding 300 million yuan, resulted in 42 arrests [12][13][14]. - Case 5: A gaming arcade was penalized for using the "City Hero" trademark without authorization, leading to fines of 49,000 yuan [15][16][18]. - Case 6: A shop in Gansu was found selling automotive products with counterfeit "FAW" trademarks, resulting in a fine of 50,000 yuan [19]. - Case 7: A karaoke hall in Guizhou was reported for unauthorized use of the "Hilton" trademark, generating revenue of 11.14 million yuan [20][21][22]. - Case 8: A tourism company in Yunnan was penalized for using a similar trademark to "Golden Peacock," leading to a fine of 75,000 yuan [23][25]. - Case 9: A food counterfeiting operation was uncovered, involving over 20 million yuan in counterfeit products, resulting in multiple arrests [26][27]. - Case 10: A tea shop in Hainan was penalized for continuing to use the "Yihe Tang" trademark despite a prior court ruling, leading to a fine of 76,000 yuan [28][29][30]. - Case 11: A packaging materials store in Ningxia was found with unauthorized packaging for "Ningxia Goji Berries," resulting in fines and confiscation of goods [31][32]. - Case 12: A tea shop in Guangxi was found selling counterfeit "Sanhe" tea, leading to criminal charges [33][34]. - Case 13: A counterfeit liquor operation was uncovered in Sichuan, with over 3000 bottles of fake liquor seized, valued at 2.57 million yuan [36][37][38]. - Case 14: A white liquor counterfeiting operation in Xinjiang was discovered, with a total value of 61,500 yuan in counterfeit products [39][40]. - Case 15: A brewery in Henan was penalized for producing beer with a trademark similar to "Wusu Beer," leading to fines of 470,000 yuan [41][42]. - Case 16: A brewery in Heilongjiang was found to have produced beer infringing on a foreign trademark, resulting in a fine of 26,000 yuan [43][45]. - Case 17: A network of counterfeit alcohol sales was uncovered in Xinjiang, with a total value exceeding 20 million yuan [46][47][48].

Group 1 - Case 1: A self-service restaurant in Arukorqin Banner was found using adulterated beef products containing duck-derived ingredients, leading to a penalty of 20,000 yuan and confiscation of illegal gains of 2,247.5 yuan [1] - Case 2: A noodle shop in Balinzuoqi was penalized for using sweeteners in fermented dough products, resulting in a fine of 5,000 yuan and confiscation of 0.38 kg of illegal food additives [2] - Case 3: A milk tea shop in Linxi County was fined 5,100 yuan for employing staff without health certificates to handle food, constituting a refusal to correct previous violations [3] Group 2 - Case 4: A company producing bottled drinking water was penalized for labeling violations, including inconsistent net content and lack of producer contact information, resulting in a fine of 3,000 yuan and confiscation of illegal gains of 1,718.8 yuan [4][5] - Case 5: A wholesale grocery store in Wengniuteqi was found selling counterfeit liquor and failing to display prices, leading to a penalty of 12,500 yuan and confiscation of infringing products [6]

资料图。 舍得酒业材料成本的背离 樊博 3月21日，舍得对外发布2024年财报，财报显示，2024年，舍得营收为53.57亿元，同比下降 24.41%，归母净利润为3.46亿元，同比下降80.46%。 经营指标普遍走低 2020年最后一天，复星宣布以45.3亿元的价格成功竞得舍得集团70%股权。在2020年，舍得的营 收为27.04亿元，归母净利润为5.81亿元。 而在2024年，复星接手舍得的第四年，在营收接近的情况下，净利润却仅为2020年六成，与2018 年相当。 舍得的经营指标普遍恶化。 从毛利率看，舍得2024年毛利率为65.52%，这一毛利率水平在过去十年里为倒数第三低，仅高于 2015年及2016年。 净利率同样如此，2024年舍得的净利润率为6.35%，在过去十年里仅 高于2015年及2016年。 根据财报，2024年，舍得经营活动产生的现金净流量为-7.07亿元，过去十年里，舍得首次在这项 科目中录得负值。这意味着 舍得的回款并不顺利，现金流的恶化可能对公司未来的运营和发展带 来一定压力。 从白酒的通用指标，合同负债来看，2024年末，舍得的合同负债为1.65亿元，低于复星收购前 2020年 ...