全球化布局多点突破 大豫园持续构建多元客群 上半年公司全球化GMV接近6亿元，产业收入占比从去年不足2%提升至3.3%。公司以文化出海为重要 抓手，依托"豫园灯会"这一非遗项目，去年巴黎灯会吸引20万人次观灯，今年1月灯组亮相越南、6月登 陆曼谷，带动老庙、南翔馒头殿、舍得等品牌海外展示。268年历史的松鹤楼4月在伦敦唐人街开设海外 首店，提供苏帮菜及苏式面，探索品牌全球连锁化。珠宝板块聚焦免税渠道，优化供货结构引入高毛利 产品，年底将完成海南免税渠道布局，海外首店计划落地澳门和吉隆坡。时尚表业板块入驻海外主流电 商平台，新开3家中免合作店及3家加盟店，推动消费产品全域化，拓展东方生活美学文化影响力。 2025年8月26日，上海豫园股份（600655.SH）通过全景网上路演召开2025年半年度业绩发布会，披露 上半年经营情况及战略规划，并就市场关注的内容与投资者在线交流互动。公司董事长兼总裁黄震、独 立董事宋航、执行总裁兼CFO邹超、执行总裁兼商置事业群陈毅杭、副总裁兼董秘王瑾等高管出席。 总结上半年的业绩情况，公司负责人表示，尽管上半年整体营收191亿元有所下滑，但二季度营收103亿 元环比增长17.6%， ...

更多业绩说明会详情，请点击：https://rs.p5w.net/html/175462162888150.shtml 2025年8月26日，豫园股份（600655）2025年期业绩发布交流会在全景网举行。豫园股份执行总裁、 CFO邹超在会上详细介绍了公司上半年在全球化布局方面的进展和未来规划，他表示，豫园股份上半年 全球化业务规模显著增长。上半年全球化业务GMV近6亿元，产业收入占比提升至3.3%。这一增长依托 于长期文化赋能和资源共享，将中华老字号品牌和产品持续推向全球市场。 文化出海是还是出海战略的重要抓手之一。豫园灯会作为公司的非遗项目，已成为文化出海的先遣品 牌。2024年，豫园灯会在巴黎推出，吸引了近20万当地观众。公司携老字号品牌南翔出海法国，让当地 消费者品尝到中国味道。 2025年1月，豫园灯会IP"山海奇豫记"在越南海洋国际灯会亮相，6月28日，曼谷地标暹罗天地举办的中 泰建交纪念活动中，豫园灯会再次成为焦点。老庙、南翔馒头殿和舍得等品牌集体亮相泰国灯会集市， 通过这种方式，公司不仅让当地市场和用户充分了解中国品牌和产品，还为后续持续出海和探索合理商 业模式奠定了良好基础。 邹超特别提到， ...

昨日涨跌幅后五行业 2025 年 08 月 27 日 开源晨会 0827 其 他 研 究 沪深300 及创业板指数近1年走势 数据来源：聚源 -24% 0% 24% 48% 72% 96% 2024-08 2024-12 2025-04 沪深300 创业板指 昨日涨跌幅前五行业 | 行业名称 | 涨跌幅(%) | | --- | --- | | 农林牧渔 | 2.615 | | 美容护理 | 2.043 | | 基础化工 | 1.257 | | 传媒 | 1.232 | | 综合 | 1.090 | | 数据来源：聚源 | | | 行业名称 | 涨跌幅(%) | | --- | --- | | 医药生物 | -1.092 | | 非银金融 | -1.057 | | 钢铁 | -0.981 | | 国防军工 | -0.934 | | 通信 | -0.794 | | 数据来源：聚源 | | 吴梦迪（分析师） wumengdi@kysec.cn 证书编号：S0790521070001 观点精粹 行业公司 【公用事业】可控核聚变技术百花齐放，终极能源梦想照进现实——行业投资策 略-20250826 【医药：可孚医疗( ...

| | | | 单位:元 币种:人民币 | | --- | --- | --- | --- | | 主要会计数据 | 本报告期 | 上年同期 | 本报告期比上年 | | | (1-6月) | | 同期增减(%) | | 营业收入 | 2,701,201,938.60 | 3, 270, 581, 082. 38 | -17. 41 | | | 561, 536, 738. 95 | 794, 758, 435. 07 | -29. 34 | | 归属于上市公司股东的净利润 | 443, 290, 477. 79 | 590, 859, 536. 92 | -24. 98 | | 归属于上市公司股东的扣除非经常性 损益的净利润 | 439, 334, 484. 76 | 578,803,823.44 | -24. 10 | | 利润总额 | | | | 文丨酒食汇团队 8月22日，舍得酒业发布2025年度半年报。上半年，公司实现营收27.01亿元，同比下降17.41%；归属上市公司股东净利润5.62亿元，同比下降29.34%。从 季度表现来看，第二季度实现营收11.25亿元，同比基本持平，归属上市公司股东净利润 ...

智通财经APP讯，舍得酒业(600702.SH)发布2025年半年度报告，报告期内，公司实现营业收入27.01亿 元，同比下降17.41%。实现归属于上市公司股东的净利润4.43亿元，同比下降24.98%。实现归属于上市 公司股东的扣除非经常性损益的净利润4.39亿元，同比下降24.10%。基本每股收益1.3561元。 ...

Core Insights - The article highlights the proactive efforts of Chinese liquor companies, particularly Shede Liquor, to expand into international markets, focusing on Southeast Asia as a key growth area for high-quality development [2][5]. Group 1: Market Expansion and Strategy - Shede Liquor is accelerating its globalization efforts by targeting Southeast Asia, which is seen as a significant market for growth due to economic development, population advantages, and consumption upgrades [5]. - The company has successfully launched the Shede Old Liquor Festival in Singapore and Malaysia, engaging local consumers through charity auctions and tastings to enhance brand influence and market penetration [4][6]. Group 2: Financial Performance and Projections - According to a report from Ping An Securities, the export value of Chinese liquor is expected to grow by 16.61% in 2024, with Southeast Asia contributing approximately 1.06 billion yuan [5]. - Shede Liquor's sales revenue in Southeast Asia is projected to increase by 50% in the first half of 2025, with a 120% growth in sales volume, particularly in Malaysia where the brand's distribution surpasses that of major competitors [13]. Group 3: Cultural and Social Responsibility - The Shede Old Liquor Festival emphasizes cultural exchange and social responsibility, with proceeds from auctions directed towards charitable causes, such as supporting children's cancer treatment in Singapore and educational initiatives in Malaysia [9][11]. - The company's philosophy, rooted in the "Shede" spirit, aligns with its commitment to social values and cultural integration, enhancing its brand image and community engagement [11][13]. Group 4: Corporate Support and Future Outlook - Fosun International's chairman expressed strong support for Shede Liquor's global expansion, emphasizing the importance of integrating domestic and international resources to foster long-term growth [7]. - The company aims to leverage its unique cultural heritage and product quality to resonate with local consumers in Southeast Asia, positioning itself as a trusted brand in the region [9][17].

Group 1 - The core focus of the news is the development of the "Future Water World" project in Suining, which aims to enhance the cultural tourism industry and attract visitors through unique offerings and events [1][3] - The project encompasses a total investment scale of over 10 billion and covers an area of 26.12 square kilometers, indicating significant financial commitment and planning [1] - Suining is positioning itself as a "characteristic tourist city" by emphasizing differentiated and high-quality development in the cultural tourism sector, aiming to create a competitive cultural tourism and sports industry system [1][2] Group 2 - The "Future Water World" project will include various new scenes and business formats such as water sports, family entertainment, brand performances, high-energy competitions, and low-altitude tourism, establishing a new identity for Suining as an "inland coastal city" [3] - The upcoming Suining Marathon on November 9, 2025, will expand its participant scale from 12,000 to 15,000, alongside a series of cultural tourism activities to attract more visitors [4] - Suining has seen a significant increase in tourism, with over 16 million visitors last year, reflecting an 8% year-on-year growth, and aims to become the "third city" for performing arts and events in the Chengdu-Chongqing area [4][5] Group 3 - Suining is focusing on enhancing its cultural tourism offerings by integrating various sectors such as agriculture, industry, and transportation, promoting a comprehensive development approach [6][7] - The city is leveraging its unique resources, such as traditional liquor production and cultural heritage, to create engaging experiences for visitors, including workshops and educational activities [6][7] - Suining is also expanding its night economy and weekend tourism, aiming to create a vibrant atmosphere that resonates emotionally with visitors [8]

Core Viewpoint - The legal opinion letter from Kangda (Chengdu) Law Firm confirms that Shede Liquor Co., Ltd. is proceeding with the repurchase and cancellation of restricted stocks as per the 2022 incentive plan due to certain conditions being met by the incentive targets [2][4][6]. Group 1: Repurchase Reasons - The repurchase is triggered by the departure of incentive targets under specific conditions such as contract expiration, voluntary resignation, or performance-related dismissals [4][5]. - The company has determined that four incentive targets no longer qualify for the incentive program due to their departure, leading to the repurchase of their unvested restricted stocks [5][6]. Group 2: Repurchase Quantity and Price - The total number of restricted stocks to be repurchased is 363,562 shares, affecting 262 incentive targets [6][8]. - The repurchase price is set at 69.04 yuan per share, which is the same as the grant price established in the 2022 incentive plan [6][8]. Group 3: Approval Procedures - The company has followed the necessary approval procedures, including obtaining authorization from the shareholders' meeting and the board of directors for the repurchase [8][9]. - The supervisory board has reviewed and agreed that the repurchase aligns with relevant laws and regulations, ensuring it does not adversely affect the company's management stability or financial performance [8][9]. Group 4: Conclusion - The legal opinion concludes that the repurchase has obtained the required approvals and adheres to the relevant legal frameworks, including the Company Law and the Management Measures for Equity Incentives [9].

Group 1 - The company has decided to repurchase and cancel a total of 363,562 restricted stocks due to the departure of four incentive targets and unmet performance goals for 2024 [1][2] - The repurchase price for the restricted stocks is set at 69.04 yuan per share, leading to a reduction in the total number of shares from 333,122,441 shares to 332,758,879 shares [1] - Following the repurchase, the company's registered capital will decrease from 333,122,441 yuan to 332,758,879 yuan [1] Group 2 - The company is notifying creditors about the reduction in registered capital as required by the Company Law of the People's Republic of China [2] - Creditors are entitled to request debt repayment or corresponding guarantees within a specified period after receiving the notification [2] - The company outlines the necessary documentation for creditors to declare their claims, including contracts and identification documents [3]

Core Insights - The report highlights the sustained growth of Shede Liquor's two brands, "Shede" and "Tuopai," which have maintained their positions in the "China's 500 Most Valuable Brands" list for 22 consecutive years, with a combined brand value of 190.698 billion yuan [1] - The brand value of "Shede" reached 110.872 billion yuan, an increase of 10.217 billion yuan from the previous year, while "Tuopai" saw its brand value rise to 79.826 billion yuan, up by 7.63 billion yuan [1] Brand Strategy - Shede Liquor has adopted a clear differentiation strategy, with "Shede" focusing on an "old liquor strategy" to capture the high-end market, while "Tuopai" emphasizes "famous liquor revival" to penetrate the mass market [1][2] - The company has invested in enhancing the quality and value of its old liquor, launching a new standard for aged liquor, which solidifies its competitive edge in this niche [2] Cultural Engagement - Shede is actively building its brand culture through various initiatives, including the "Shede Wisdom Characters" program and the "Shede Old Liquor Festival," which have significantly increased brand exposure [3] - The sixth season of "Shede Wisdom Characters" achieved over 7.1 billion exposures, showcasing the brand's cultural relevance and outreach [3] Marketing Innovations - The company has leveraged high-profile marketing campaigns during key festivals, such as the Spring Festival and Mid-Autumn Festival, to enhance brand visibility and consumer engagement [3][4] - Innovative marketing strategies, including live-streaming events and interactive campaigns, have effectively connected with consumers and boosted sales [3][5] Product Development - "Tuopai" is revitalizing its brand by focusing on the mass market, aiming to become the "first national classic liquor brand" with a new slogan and product offerings [5] - The introduction of new products, such as the "Tuopai Rhythm" series, targets the national banquet market with competitive pricing and festive packaging [6] International Expansion - The continuous rise in brand value for both "Shede" and "Tuopai" is facilitating the company's international market expansion, with operations now in 36 countries and regions [6] - The company is committed to enhancing its global presence through participation in international events and product launches [6]