8月22日晚，金徽酒（603919）（603919.SH）发布2025年半年度报告，实现营业收入17.59 亿元，同比 增长0.31%，实现归母净利润2.98亿元，同比增长1.12%。营收净利润双增长，凸显了金徽酒穿越周期的 业绩韧性与战略定力。 财报显示，金徽酒在营收、净利润实现逆势增长的同时，上半年经营活动生产的现金流净额为19.29亿 元，同比增长2.77%；主营业务毛利率为66.40%，同比增长1.02个百分点；与此同时，销售费用占营收 比例为18.96%，较上年同期下降0.20个百分点。 业绩增长的背后，金徽酒上半年分区域、分产品进行布局，打造大单品，在核心价格带进行明确布局， 形成产品铁塔。各价位产品中，金徽年份系列、金徽老窖系列成功抢占商务宴席，发挥引领作用；柔和 金徽系列、金徽正能量系列、世纪金徽五星系列产品销量稳健增长，满足大众消费的品质升级需求。 2025年上半年金徽酒300元以上产品营收3.80亿元，同比增长21.60%；100-300元产品营收9.69亿元，同 比增长8.93%。上半年，金徽酒中高档产品营收占比提升至78.66%，产品结构进一步优化。 作为西北名酒，金徽酒品牌形象独具特 ...

证券代码:603919 证券简称:金徽酒 公告编号:临 2025-033 金徽酒股份有限公司 2025 年半年度经营数据公告 2、按销售渠道分类情况 单位：万元 币种：人民币 | | | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据《上海证券交易所上市公司自律监管指引第 3 号——行业信息披露》之《第 十二号——酒制造》第十六条相关规定，现将金徽酒股份有限公司（简称"公司"） 2025 年半年度主要经营数据（未经审计）公告如下： 一、2025 年半年度主要经营数据 1、按产品档次分类情况 单位：万元 币种：人民币 | 产品档次 | 2025 年 1-6 | 月营业收入 | 2024 年 1-6 | 月营业收入 | 同比变动（%） | | --- | --- | --- | --- | --- | --- | | 元以上 300 | | 38,036.53 | | 31,280.93 | 21.60 | | 100-300 元 | | 96,941.02 | | 88,990.28 | 8.93 | | 元以下 100 ...

Core Viewpoint - Jinhuijiu has made significant moves in the white liquor market by announcing high dividend payouts and major shareholder increases, reflecting its commitment to quality and shareholder returns amidst a challenging market environment [1][2][3] Financial Performance - In 2024, Jinhuijiu achieved a revenue of 3.021 billion yuan, representing an 18.59% year-on-year growth, and a net profit of 388 million yuan, up 18.03%, positioning it among the top performers in the white liquor industry [1][4] - The company announced a cash dividend of 5 yuan per 10 shares, totaling 248 million yuan, which constitutes 64% of its net profit for the year, marking the highest dividend payout ratio since its listing [3][4] Dividend History - Since its listing in 2016, Jinhuijiu has prioritized investor returns, with dividend payout ratios of 54.50%, 60.00%, and 64.00% from 2022 to 2024, establishing itself as a model for shareholder returns in the A-share market [2][3] Product and Market Strategy - Jinhuijiu is shifting its product structure towards higher-end offerings, with sales of products priced above 300 yuan increasing by 41.17% in 2024, now accounting for 19.52% of total liquor revenue [4][5] - The company is focusing on a national layout while deepening its presence in the northwest, achieving 76.90% of its revenue from Gansu province, while also expanding its market presence in other regions [4][6] Sales Channels and Marketing - Jinhuijiu has diversified its sales channels, with revenue from distributors reaching 2.744 billion yuan, a 15.43% increase, and online sales growing by 43.36% to 83.997 million yuan, highlighting the importance of digital platforms [5][6] - The company has enhanced its brand visibility through targeted marketing campaigns, achieving over 82 million exposures during the Spring Festival promotional activities [5][6] Strategic Initiatives - Jinhuijiu's strategy includes a "national layout, deepening the northwest, and key breakthroughs," aiming to cultivate markets in eastern and northern China while maintaining strong growth in its core regions [6][7] - The company has also implemented a "factory-dealer integration" model to improve inventory management and avoid stockpiling risks, with the number of dealers reaching 1,001 [6][7] Market Outlook - Analysts have noted that Jinhuijiu's strategic transformation has positioned it well for future growth, with a focus on high-end product development and digital brand empowerment [7][8] - Recent reports from various securities firms indicate strong confidence in Jinhuijiu's market strategies and financial health, with expectations for continued revenue growth [8][9]