炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 日前，安徽迎驾贡酒股份有限公司发布2025年半年报。上半年，迎驾贡酒实现营收31.6亿，同比下降 16.89%，实现净利润11.3亿，同比下降18.19%。其中，第二季度营收11.13亿，同比下降23.76%，净利 润3.01亿，同比下降13.51%。 责任编辑：郭栩彤 ...

公募基金方面，本期较上一期持股增加的公募基金共计3个，包括招商中证白酒指数A、酒ETF、格林稳 健价值混合A，持股增加占比达0.46%。本期较上一季度新披露的公募基金共计4个，包括中金消费升级 股票A、信澳精华配置混合A、汇丰晋信2026周期混合、华夏鼎沛债券A。本期较上一季未再披露的公 募基金共计40个，主要包括汇添富消费行业混合、中欧消费主题股票A、汇安消费龙头混合A、银华食 品饮料量化股票发起式A、万家消费成长等。 2025年8月26日，迎驾贡酒(603198.SH)发布2025年半年度报告。截至2025年8月25日，共有15个机构投 资者披露持有迎驾贡酒A股股份，合计持股量达6.58亿股，占迎驾贡酒总股本的82.27%。其中，前十大 机构投资者包括安徽迎驾集团股份有限公司、安徽六安市迎驾慈善基金会、中国银行股份有限公司-招 商中证白酒指数分级证券投资基金、香港中央结算有限公司、北京才誉资产管理企业(有限合伙)-才誉中 国价值多策略对冲1号私募证券投资基金、上海迎水投资管理有限公司-迎水合力14号私募证券投资基 金、中国建设银行股份有限公司-鹏华中证酒交易型开放式指数证券投资基金、上海迎水投资管理有限 ...

格隆汇8月25日丨迎驾贡酒(603198.SH)公布，根据公司经营发展需要，为了进一步优化资产、管理结构 及整合资源，公司和迎驾国旅于2025年8月25日签订了《股权转让协议》，公司拟将持有的迎驾商务酒 店100%股权以3,172.65万元转让给迎驾国旅。本次交易完成后，公司不再持有迎驾商务酒店的股权，公 司合并报表范围将发生变动，迎驾商务酒店不再纳入公司合并报表范围内。公司拟授权管理层具体办理 与本次股权转让相关的全部事项。 ...

迎驾贡酒公告，2025年上半年营业收入为31.6亿元，同比下降16.89%；净利润为11.3亿元，同比下降 18.19%。 ...

盛夏时节，万物并秀。为深化厂商融合、赋能合作伙伴、共谋长远发展，7月31日，迎驾酒业销售公司隆重举办以"聚焦财务风控，优化内部管理"为主题 的2025年度销售公司经销商培训。来自合肥、六安大区的经销商及其财务负责人齐聚大别山门户霍山，在迎驾学院共同研讨在当前经济环境下，如何通过 强化财务管控、优化内部管理，构建更具韧性的发展模式，厂商携手穿越市场周期波动。 迎驾酒业销售有限公司副总经理、安徽管理中心总经理李晓峰在致辞中向长期以来与迎驾风雨同舟、携手同行的各位伙伴致以了崇高的敬意和诚挚的感 谢。他表示，当前白酒行业正处于"深度调整与结构变革""品质升级+效率革命""粗放式销售向精细化运营"的转型阶段，进一步加强商贸型公司的财务管 理及内部管理至关重要。迎驾始终积极构建"厂商命运共同体"，希望通过此次培训，助力各位合作伙伴扎紧风险的"篱笆"、激活管理的"引擎"，共创更加 灿烂辉煌的明天。 本次培训特邀中国科学技术大学副教授、博士生导师王善勇担任讲师。培训中，王善勇围绕"企业风险管理与内部控制"主题，从企业风险管理、企业财务 风险管理、企业内部控制、内部控制与内部审计、如何推行企业内部控制五个方面展开了全面详尽的分 ...

Core Viewpoint - The company, Yingjia Gongjiu, reported a decline in both revenue and net profit for the first quarter of 2025, marking the first time in five years that both metrics have decreased simultaneously [1][3]. Financial Performance - In Q1 2025, the company achieved revenue of approximately 2.047 billion yuan, a year-on-year decrease of 12.35% [4]. - The net profit attributable to shareholders was about 828.5 million yuan, down 9.54% year-on-year [4]. - For Q4 2024, the revenue was around 1.830 billion yuan, reflecting a 5.00% decline compared to the previous year [3]. Earnings Per Share and Cash Flow - The diluted earnings per share for Q1 2025 was 1.04 yuan, compared to 1.14 yuan in Q1 2024 [4]. - The operating cash flow per share was 0.6197 yuan in Q1 2025, down from 0.7744 yuan in Q1 2024 [4]. Management Insights - The decline in performance was attributed to a slowdown in economic growth leading to weak consumer demand and insufficient purchasing power [5]. - The company has implemented a "control quantity and stabilize price" strategy to alleviate channel inventory pressure [5]. - The strategic plan includes stabilizing core markets in the short term, leveraging differentiated competition and regional focus for market expansion in the medium term, and promoting a "Cultural Yingjia Strategy" to enhance brand value in the long term [5].

通过天眼查大数据分析，安徽迎驾贡酒股份有限公司共对外投资了17家企业，参与招投标项目106次， 知识产权方面有商标信息155条，专利信息285条，此外企业还拥有行政许可55个。 资金流向方面，今日主力资金净流出6177.71万元，占比成交额14.63%。其中，超大单净流出3377.29万 元、占成交额8.0%，大单净流出2800.42万元、占成交额6.63%，中单净流出流入894.62万元、占成交额 2.12%，小单净流入5283.09万元、占成交额12.51%。 来源：金融界 金融界消息 截至2025年7月31日收盘，迎驾贡酒（603198）报收于41.06元，下跌3.37%，换手率 1.27%，成交量10.15万手，成交金额4.22亿元。 天眼查商业履历信息显示，安徽迎驾贡酒股份有限公司，成立于2003年，位于六安市，是一家以从事 酒、饮料和精制茶制造业为主的企业。企业注册资本80000万人民币，实缴资本72000万人民币。公司法 定代表人为倪永培。 迎驾贡酒最新一期业绩显示，截至2025一季报，公司营业总收入20.47亿元、同比减少12.35%，归属净 利润8.29亿元，同比减少9.54%，扣非净利润8 ...

Investment Rating - The investment rating for the industry is "Outperform the Market" [5][6]. Core Views - The report highlights that the liquor sector, particularly Moutai, is stabilizing in price, and attention should be paid to the second-quarter performance of the sector [3][12]. - The food and beverage sector saw a slight increase of 0.74% this week, underperforming the Shanghai Composite Index by 0.67 percentage points [2][22]. - The report emphasizes the importance of consumer demand and market health, with companies focusing on destocking and promoting sales in the short term while nurturing consumer engagement and internationalization in the long term [14][21]. Summary by Sections Liquor Sector - Moutai's stock buyback reached 3.3821 million shares, accounting for 0.27% of total shares, with a total expenditure of 5.202 billion yuan [3][12]. - The liquor index increased by 1.2%, indicating a potential valuation recovery driven by incremental policies [14]. - Recommended stocks include Moutai, Shanxi Fenjiu, and Wuliangye, which have demonstrated resilience through multiple cycles [14][21]. Consumer Goods - The report notes that the recent warm weather is favorable for beer consumption, with expectations for slight sales growth among major beer brands [15]. - The snack sector is experiencing a trend of differentiation, with recommendations for companies that are innovating in products and channels [16][17]. - The report suggests focusing on leading companies in the seasoning industry, such as Yihai International and Haitian Flavoring, as they show resilience [18]. Frozen Foods - The frozen food sector is stable, with companies actively developing new products despite the off-season [19]. - Anji Food's recent IPO on the Hong Kong Stock Exchange raised 2.302 billion HKD, which will be used to enhance sales networks and optimize supply chains [19]. Dairy Products - The dairy sector is expected to see a gradual recovery in demand, with supply pressures easing and potential policy catalysts on the horizon [20]. - The report recommends focusing on leading dairy companies that are well-positioned for upward elasticity in 2025 [20]. Beverages - The beverage industry is entering a peak season, with expectations for continued growth in segments like sugar-free tea and energy drinks [21]. - The report recommends East Peak Beverage, which is accelerating its national and platform expansion [21].

Core Viewpoint - Anhui Yingjia Gongjiu Co., Ltd. announced a cash dividend distribution of 1.50 yuan per share, totaling 1.2 billion yuan, approved at the 2024 annual shareholders' meeting on May 28, 2025 [1][5]. Dividend Distribution Plan - The cash dividend of 1.50 yuan per share will be distributed based on a total share capital of 800 million shares [1]. - The dividend distribution will be executed for all shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the market closes on June 20, 2025 [1]. Relevant Dates - The key dates for the dividend distribution are as follows: - Record date: June 20, 2025 - Last trading day: June 23, 2025 - Ex-dividend date: June 23, 2025 - Cash dividend payment date: June 23, 2025 [1]. Taxation Information - For individual shareholders, dividends are subject to different tax treatments based on the holding period: - Holding period over 1 year: exempt from individual income tax - Holding period within 1 month: full amount included in taxable income - Holding period between 1 month and 1 year: 50% included in taxable income [2]. - For Qualified Foreign Institutional Investors (QFII), a 10% withholding tax applies, resulting in a net cash dividend of 1.35 yuan per share [3]. - For Hong Kong Stock Exchange investors, a similar 10% withholding tax applies, also resulting in a net cash dividend of 1.35 yuan per share [4]. Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the company's securities department at 0564-5231473 [4].