迎驾贡酒属于酿酒行业，主营业务为白酒的研发、生产和销售，核心产品包括洞藏系列、金星系列等。 公司总部位于安徽，是区域白酒品牌之一。 截至2025年8月26日15时，迎驾贡酒股价报46.13元，较前一交易日下跌0.95元，跌幅2.02%。当日成交 额8.17亿元，换手率2.19%。 8月25日，迎驾贡酒披露2025年半年报，上半年实现营业收入31.6亿元，同比下降16.89%；归母净利润 11.3亿元，同比下降18.19%。公司表示，白酒行业面临消费疲软、需求偏弱等挑战，导致业绩下滑。此 外，公司拟出售旗下迎驾商务酒店100%股权，以聚焦白酒主业。 风险提示：市场有风险，投资需谨慎。 8月26日，迎驾贡酒主力资金净流出648.68万元，近五日主力资金净流入444.68万元。 ...

上半年，公司营业收入、净利润均出现下降。中高档白酒、普通白酒销售均同比上期出现不同程度的下降。报告期内，中高档白酒收入25.37亿元，同比减 少5.87亿元，代表品牌包括洞藏系列、金星系列、银星系列。普通白酒收入4.52亿元，同比减少2.17亿元，代表产品主要为百年迎驾贡系列及简装酒系列。 报告期内，省内收入23.64亿元，省外收入6.25亿元，省外市场收入下滑超过30%。 费用支出方面，报告期内，销售费用3.07亿元，同比仅增长1.39%，管理费用1.26亿元，同比增长17.08%。公司称，主要系折旧费、无形资产摊销等增加所 致。现金流方面，经营性净现金流3.17亿元，同比下降近半。公司称主要系销售商品提供劳务收到的现金减少所致。 每经记者｜张宝莲 每经编辑｜叶峰 8月25日晚间，"徽酒榜眼"迎驾贡酒公布上半年业绩。 公司称，2025年上半年，白酒行业延续深度调整态势，受消费疲软、需求偏弱等多重因素影响，报告期内，公司实现营业收入31.60亿元，同比下降 16.89%，实现归母净利润11.30亿元，同比下降18.19%。 与此同时，公司将出售旗下安徽迎驾商务酒店有限公司（以下简称"迎驾商务酒店"）100%股 ...

8月25日，迎驾贡酒发布2025年半年报。披露公司上半年营收下滑16.89%至31.6亿元，归属净利下降18.19%至11.3亿元。另据二季度经营数据公告，Q2中高 档白酒8.17亿元，普通白酒2.1亿元。 | 产品档次 | 本期销售收入 | 主要代表品牌 | | --- | --- | --- | | 中高档白酒 | 81.654.00 | 洞藏系列、金星系列、银星系列 | | 普通白酒 | 20,994.32 | 百年迎驾贡系列、简装酒系列 | | 渠道类型 | 本期销售收入 | | | --- | --- | --- | | 直销(含团购) | | 8,23: | | 批发代理 | | 94.41 | | 区域名称 | 本期销售收入 | | | --- | --- | --- | | 省内 | | 73.03 | | | | 29,61. | 图片来源：企业公告 （企业公告） ...

证券代码：603198 证券简称：迎驾贡酒 公告编号：2025-016 安徽迎驾贡酒股份有限公司 2025 年第二季度主要经营数据公告 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个别及连带责任。 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》相关规定，安徽迎驾贡酒股份有限公司现将 2025 年第 二季度主要经营数据披露如下： 一、报告期经营情况 （一）产品分档次情况 单位：万元 币种：人民币 | 产品档次 | 本期销售收入 | 主要代表品牌 | | --- | --- | --- | | 中高档白酒 | 81,654.00 | 洞藏系列、金星系列、银星系列 | | 普通白酒 | 20,994.32 | 百年迎驾贡系列、简装酒系列 | 注：按产品品质及销售价位段划分产品档次。 （二）产品销售渠道情况 单位：万元 币种：人民币 | 渠道类型 | 本期销售收入 | | --- | --- | | 直销（含团购） | 8,233.43 | | 批发代理 | 94,414.89 | （三）产品分 ...

Core Insights - Yingjia Gongjiu reported a revenue of 7.344 billion yuan for 2024, representing an 8.46% year-on-year increase, and a net profit of 2.589 billion yuan, up 13.45% from the previous year [1][2] - The company set a revenue target of 8.064 billion yuan and a net profit target of 2.866 billion yuan for 2024, which were not met in the previous year [2] - The overall gross margin improved to 73.94%, an increase of 2.92 percentage points compared to the previous year [1] Financial Performance - For 2024, Yingjia Gongjiu's revenue was 7.344 billion yuan, with a net profit of 2.589 billion yuan and a net asset value of 9.844 billion yuan, reflecting a 15.77% increase [1][2] - The company experienced a decline in revenue and net profit in Q1 2025, with figures of 2.047 billion yuan and 0.829 billion yuan, respectively, marking decreases of 12.35% and 9.54% year-on-year [5] Product Segmentation - The mid-to-high-end liquor segment generated 5.713 billion yuan in revenue, a 13.76% increase, with a gross margin of 81.07% [3][4] - Ordinary liquor sales fell to 1.290 billion yuan, down 6.53%, but with an improved gross margin of 57.93% [3][4] Management and Compensation - The chairman of Yingjia Gongjiu, Ni Yongpei, has been in his position since 2003 and received a salary of 1.054 million yuan in 2024, reflecting a 14.8% increase from the previous year [7][8]

Core Viewpoint - The company, Yingjia Gongjiu, reported a decline in performance in Q1 2025 after several years of double-digit growth, raising concerns about its ability to maintain growth in a challenging market environment [2][3]. Group 1: 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 attributable to shareholders of 2.589 billion yuan, up 13.45% [2][3]. - However, in Q1 2025, the company reported revenue of 2.047 billion yuan, a decrease of 12.35% year-on-year, and a net profit of 829 million yuan, down 9.54% [5][6]. Group 2: Market Strategy - Yingjia Gongjiu has focused on the mid-to-high-end liquor market, with significant revenue growth in this segment over the past few years. The revenue growth rates for mid-to-high-end liquor from 2021 to 2024 were 44.72%, 27.59%, 27.84%, and 13.76%, respectively [4][6]. - The company has optimized its product structure by categorizing products into mid-to-high-end and ordinary liquor, with the former accounting for an increasing share of total revenue, rising from 71.52% in 2021 to 81.58% in 2024 [4][6]. Group 3: Regional Performance - The revenue from Anhui province has been a significant driver of growth for Yingjia Gongjiu, with provincial revenue growth rates of 36.79%, 25.65%, and 31.51% from 2021 to 2023, leading to an increase in provincial revenue share from 63.5% in 2021 to 70.57% in 2023 [8][9]. - In 2024, the company's revenue from Anhui was 5.093 billion yuan, a year-on-year increase of 12.75%, while revenue from outside the province was only 1.909 billion yuan, growing by just 1.31% [9]. Group 4: Inventory and Competition - As of December 31, 2024, Yingjia Gongjiu had a high inventory level, with a book value of 5.043 billion yuan, accounting for 37.67% of total assets and 51.15% of current assets, indicating a need for inventory management [10]. - The company faces intensified competition in the liquor industry, which has led to a slowdown in revenue growth, prompting concerns about its ability to maintain its market position [10].

Core Viewpoint - The company, Yingjia Gongjiu, reported a total operating revenue of 7.344 billion yuan for 2024, marking an increase of 624 million yuan or 8.46% year-on-year, with a net profit of 2.589 billion yuan, up 13.45% year-on-year [1][2] Group 1: Financial Performance - The company plans to distribute a cash dividend of 15 yuan per 10 shares, totaling 1.2 billion yuan [1] - The revenue from mid-to-high-end liquor reached 5.713 billion yuan, a year-on-year increase of 13.76%, with a gross margin of 81.07%, up 1.83 percentage points [2] - The company achieved double-digit growth in both revenue and net profit for three consecutive years from 2021 to 2023, with revenue increasing from 4.577 billion yuan to 6.72 billion yuan and net profit from 1.382 billion yuan to 2.288 billion yuan [2] Group 2: Market Dynamics - The company is focusing on the mid-to-high-end liquor market, with the proportion of mid-to-high-end liquor revenue increasing from approximately 78.44% in 2023 to 81.59% in 2024 [1][2] - The domestic market remains the primary sales area for the company, with domestic revenue of 5.093 billion yuan in 2024, up 12.75% year-on-year, while the external market revenue was 1.909 billion yuan, up only 1.31% [2][3] - The company aims to strengthen its market presence in core areas such as Anhui, Jiangsu, and Shanghai, while expanding into central and northern China [3] Group 3: Strategic Focus - The "Dongcang" series is the company's main product line, targeting various price segments to enhance sales [3] - The company acknowledges challenges in the mid-to-high-end liquor segment, with a decline in revenue for both mid-to-high-end and ordinary liquor in the first quarter of 2025 compared to the same period in 2024 [3] - The industry is experiencing deep adjustments, with intensified competition and a shift in consumer preferences towards quality upgrades and brand resilience [3][4]

证券代码：603198 证券简称：迎驾贡酒 公告编号：2025-007 安徽迎驾贡酒股份有限公司 2025 年第一季度主要经营数据公告 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个别及连带责任。 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》相关规定，安徽迎驾贡酒股份有限公司现将 2025 年第 一季度主要经营数据披露如下： 一、报告期经营情况 （一）产品分档次情况 单位：万元 币种：人民币 | 产品档次 | 本期销售收入 | 主要代表品牌 | | --- | --- | --- | | 中高档白酒 | 172,004.96 | 洞藏系列、金星系列、银星系列 | | 普通白酒 | 24,214.65 | 百年迎驾贡系列、简装酒系列 | （二）产品销售渠道情况 单位：万元 币种：人民币 | 渠道类型 | 本期销售收入 | | --- | --- | | 直销（含团购） | 17,213.30 | | 批发代理 | 179,006.31 | （三）产品分区域情况 单位：万元 币种：人民币 ...