在白酒行业处于相对低增速的市场背景下，山西汾酒对今年业绩增幅提出"保持稳健"的态度。 近日在山西证监局、山西省上市公司协会等联合举办"山西辖区上市公司2025年投资者网上集体接待日 暨年报业绩说明会"上，山西汾酒向投资者披露了今年营收目标、产品机构以及国际化等问题。其中对 于投资者关于白酒国际化方面的问题，山西汾酒管理层回应表示，今年营收增长将保持稳健，另外国际 化方面，去年山西汾酒酒类创汇同比增长超五成，国际市场将成为白酒行业未来重要的突破方向。 根据山西汾酒2024年报数据显示，该公司去年营收达到360.1亿元，归母净利润为122.4亿元，创下了历 史新高同时，营收规模也达到白酒行业第三；而在今年一季度，山西汾酒营收和净利润分别录得165.2 亿元和66.48亿元，同比分别增加7.72%和6.15%。 南都湾财社-酒水新消费指数课题组记者留意到，随着白酒行业调整期深入，包括龙头企业在内"暂 别"了高增长，作为过去5年处于高速增长状态的山西汾酒，今年将保持怎样的增速成为投资者关注的部 分。 针对投资者对于今年公司增长预期的问题，山西汾酒副总经理、总会计师王怀表示，2025年公司营业收 入将继续保持稳健增长态 ...

在消费市场深度调整、白酒行业面临结构性变革的大背景下，2024 年的酒业市场充满挑战与变数。"消 费疲软""价格倒挂""库存高压" 如同乌云笼罩，众多酒企在行业调整期中艰难前行，市场竞争愈发激 烈，消费者需求也更加多元化、个性化 。然而，山西汾酒（600809）却在这样的环境中脱颖而出，逆 势上扬。 4 月 29 日晚间，山西汾酒（600809）发布 2024 年年报暨 2025 年一季报，这份成绩单堪称亮眼。2024 年公司营业收入达 360.11 亿元，同比增长 12.79％；归属于上市公司股东的净利润 122.43 亿元，同比增 长 17.29% 。2025 年一季度，公司延续强劲势头，营业收入 165.22 亿元，同比增长 7.72%，净利润 66.48 亿元，同比增长 6.15%。 这样的业绩不仅延续了令人瞩目的 "汾酒速度"，更巩固了其在行业前三的稳固地位。中信证券研报指 出，在行业整体增速放缓的背景下，汾酒能保持双位数增长，展现出其强大的市场竞争力和发展韧性， 这背后是汾酒在产品布局、全球市场扩张、品牌价值提升三大关键领域的精准战略布局与高效执行。 结构升级，打造增长新引擎 汾酒的产品策略是其业 ...

Core Viewpoint - Shanxi Fenjiu achieved significant growth in 2024, with revenue reaching 36.011 billion yuan, a year-on-year increase of 12.79%, and net profit of 12.243 billion yuan, up 17.29%, solidifying its position among the top three in the industry [1][3]. Group 1: Performance Resilience - In 2024, despite being in an industry adjustment cycle, the company optimized its product and market structure, resulting in double-digit growth in revenue and net profit [3]. - High-end liquor sales contributed significantly, with revenue from mid-to-high-end products reaching 26.532 billion yuan, a 14.35% increase, accounting for 73.68% of total revenue [3]. - The Qinghua Fen series remains a strategic focus, with the launch of "Qinghua Fenjiu 26·Revival" aimed at expanding market reach [3]. Group 2: Market Expansion - Revenue from markets outside Shanxi reached 22.374 billion yuan, growing by 13.81% [4]. - The number of external distributors increased to 3,718, adding 598 new distributors during the reporting period, supporting the company's national expansion strategy [4]. Group 3: Brand Empowerment - The company emphasizes cultural integration as a key advantage, launching various cultural initiatives and collaborations to engage with consumers [5]. - The "Youngization 1.0 Strategy" will be fully implemented by 2025, aiming to attract younger demographics and reshape the narrative of Chinese liquor [5]. Group 4: Sustainable Development - The company plans to maintain steady revenue growth and integrate ESG principles into its revival strategy, focusing on green, low-carbon, and high-quality development [7]. - The release of the 2024 ESG report highlights the commitment to environmental, social, and governance responsibilities as part of the company's growth strategy [7].