12月26日，以"新开局、新动能、新征程"为主题的"启航·2025金融峰会"在北京圆满举办，大会由金融界主办，汇聚监管部门、行业协会、金融机构、上市 公司、媒体等数百位相关领导和重磅嘉宾。会上，第十四届金融界"金智奖"年度评选结果重磅揭晓，舍得酒业荣获"消费者信赖产品"奖。 面对白酒消费代际更迭与理性悦己需求上升的趋势，舍得酒业精准洞察消费者对"轻负担"饮酒体验和"松弛感"社交氛围的渴望，于2025年8月底创新推出行 业首款低酒度畅饮型老酒29度"舍得自在"。该产品凭借三大核心技术破局，成功攻克低酒度与高风味不可兼得的行业难题，让29度酒体依然保有坛贮老酒的 醇厚底蕴，重新定义了轻负担饮酌体验。同时，其还推出"马上有舍得"小酒盲盒，以"老酒+盲盒"组合精准切入年轻消费潮流，多维度拓展产品饮用边界与 消费场景。 未来，舍得酒业将继续坚守品质初心，深化老酒战略，以消费者需求为导向持续推进产品与体验创新，优化渠道服务体系，在传承传统白酒文化的同时，探 索与新时代消费者建立情感连接的新路径，为推动白酒行业高质量发展、优化消费市场生态贡献更多力量。 财经频道更多独家策划、专家专栏，免费查阅>>责任编辑：栎树 "金智奖" ...

Core Insights - The company is experiencing positive signals amidst the overall pressure in the liquor industry, with significant growth in its strategic product, T68, and innovative e-commerce channels [4][5][6] Group 1: Financial Performance - In the first three quarters, the company achieved operating revenue of 3.702 billion, with a net profit attributable to shareholders of 472 million [5] - The company's ordinary liquor sales revenue increased by 16.46% year-on-year to 625 million, driven by the strong performance of T68 [5] - Operating costs decreased by 8.81% year-on-year, and management expenses fell by 13.07%, indicating improved operational efficiency [5] Group 2: Product Strategy - T68 has become a highlight for the company, ranking among the top three in the high-end light bottle liquor category in key markets [5] - The company is committed to its old liquor strategy while also expanding into new product categories, such as the 29-degree "Shede Zizai" and "Shede Blind Box" [5][6] - The product innovation strategy aims to create a clear product hierarchy and growth path, focusing on both existing and new markets [5][6] Group 3: E-commerce Growth - The e-commerce channel saw a significant revenue increase of 39.62% year-on-year, reaching 450 million in the first three quarters [5] - In the third quarter alone, e-commerce revenue surged by 71.4%, showcasing the company's differentiated approach in this channel [5] Group 4: Inventory Management - The company has proactively adjusted its strategies to improve channel inventory, leading to a healthier inventory situation [6] - The company plans to maintain its strategic focus on old liquor while advancing its multi-brand, youth-oriented, and international strategies [6]

Core Viewpoint - Shede Liquor Industry Co., Ltd. reported a stable performance in the first three quarters of 2025, with revenue of 3.702 billion yuan and a net profit of 472 million yuan, indicating effective strategies in a challenging market environment [2][3]. Financial Performance - The company achieved a gross margin increase of 1.49 percentage points to 62.09% in Q3, reflecting improved profitability through effective pricing and product structure optimization [3]. - Operating costs decreased by 8.81% year-on-year, and management expenses fell by 13.07%, showcasing ongoing efficiency improvements [3]. - Total assets grew to 12.558 billion yuan, indicating continued scale expansion [3]. Market Strategy - Shede Liquor is actively adjusting its strategies in response to market conditions, focusing on inventory reduction and price stabilization [3][4]. - The strategic flagship product "T68" saw a sales revenue increase of 16.46% year-on-year, contributing positively to overall performance [3]. Channel Optimization - The company has enhanced its e-commerce presence, achieving 450 million yuan in e-commerce sales, a 39.62% increase year-on-year, by leveraging traditional and emerging online sales channels [3][5]. Product Innovation - Shede Liquor is focusing on both high-end and low-alcohol products to capture diverse market segments, including the launch of a low-alcohol variant and innovative packaging strategies [5][6]. - The introduction of the "Shedai Zizai" low-alcohol product and the "Shedai Blind Box" reflects the company's commitment to innovation and appealing to younger consumers [6]. Brand Development - The company is enhancing its brand strength through diverse marketing strategies, including cultural marketing initiatives that resonate with consumers [7]. - Shede Liquor has integrated ESG principles into its business model, aiming for sustainable development and long-term growth [7]. Industry Outlook - The white liquor industry is expected to recover in the fourth quarter, supported by favorable policies and seasonal demand, with Shede Liquor positioned for improved performance [8].