Core Viewpoint - The article emphasizes the importance of investor engagement and communication between listed companies and investors, highlighting the "I am a shareholder" initiative aimed at enhancing investor awareness and understanding of company value [1][3]. Group 1: Event Overview - The "I am a shareholder" event for 2025 focuses on "serving investors and sharing high quality," featuring Anhui Yingjia Distillery Co., Ltd. (603198.SH) as the highlighted company [1]. - The event was guided by the Shanghai Stock Exchange and organized by Shenwan Hongyuan Securities, attracting 184 institutional and individual investors who engaged in discussions with the company's management [3][12]. Group 2: Company Insights - Anhui Yingjia Distillery is recognized as a leading enterprise in China's ecological liquor sector, with significant achievements in ecological liquor research and production technology [4][7]. - The company has developed a market layout centered around its "Yingjia Dongcang" series of mid-to-high-end liquors and the Yingjia Master Edition as a high-end flagship product [4][7]. - The distillery's production process enhances efficiency and product consistency, ensuring the unique quality characteristics of Yingjia liquor [5]. Group 3: Management Perspective - The company's vice president emphasized the interdependent relationship between listed companies and investors, committing to continuous value creation and quality development in response to investor trust [7]. - Yingjia Distillery aims to leverage opportunities from the upgrading and optimization of the liquor industry, focusing on enhancing product quality and brand value [7]. Group 4: Industry Context - The event included discussions on macroeconomic trends, industry competition, and the company's competitive advantages, highlighting the importance of active participation from listed companies in capital market development [8][10]. - The company has been recognized for its ecological practices and has received various accolades, including being listed as a national geographical indication protection product and a "Chinese Time-honored Brand" [13].

Core Viewpoint - The financial performance of Yingjia Gongjiu has disappointed investors, with a notable decline in revenue and net profit in Q1 2025, despite maintaining growth in 2024 [2][3] Financial Performance - In 2024, Yingjia Gongjiu achieved revenue of 7.344 billion yuan, a year-on-year increase of 8.46%, and a net profit of 2.589 billion yuan, up 13.45% [3] - However, in Q4 2024, the company experienced a revenue decline of 4.5% and a net profit decrease of 7.9% compared to the previous year [3] - For Q1 2025, revenue was 2.047 billion yuan, down 12.35% year-on-year, and net profit was 829 million yuan, a decrease of 9.54% [3] Market Challenges - The company faced its first revenue decline in its home market of Anhui in nearly three years during Q1 2025, indicating increased competition from national brands [2][6] - The overall economic environment and weak consumer spending were cited as reasons for the poor performance in Q1 2025 [3][4] - Competitors such as Moutai and Wuliangye have intensified their market penetration in Anhui, putting additional pressure on Yingjia Gongjiu [6][7] Sales and Marketing Strategy - Despite the decline in performance, the company has not reduced its sales expenses, which were 158 million yuan in Q1 2025, a slight increase of 0.8% year-on-year [5] - The company plans to maintain stable sales expenses throughout the year and is focusing on enhancing its marketing resilience and deepening its presence in the Anhui market [7] Future Outlook - Yingjia Gongjiu aims to strengthen its core competitiveness by leveraging its unique ecological brewing concept and differentiating itself in the market [7] - The company recognizes the need for transformation in response to the evolving market dynamics, including developing experiential marketing and online sales channels [4][7]