7月20日酒业要闻China Liquor News（July 20）

01 美国《福布斯》解读茅台市值管理
据茅台时空微信公众号7月19日消息，近日，美国《福布斯》杂志官方平台发文分析茅台市值管理方程式，认为在A股估值逻辑重构、传统消费蓝筹面临阶段性调整的当下，贵州茅台以一套覆盖分红、回购、增持、投资者关系管理的”四维”市值管理体系，走出了一条不依赖题材炒作、穿越周期波动的价值锚定之路。

01 Forbes Analyzes Moutai’s Market Value Management
According to the Moutai Time WeChat account on July 19, the official platform of Forbes magazine recently published an analysis of Moutai’s market value management formula. The article noted that at a time when the valuation logic of the A-share market is being restructured and traditional consumer blue-chip stocks are facing periodic adjustments, Kweichow Moutai has charted a path of value anchoring that does not rely on thematic speculation but rather rides out cyclical fluctuations – through a “four-dimensional” market value management system encompassing dividends, share buybacks, stake increases, and investor relations management.

02 郎酒会员杯北部分站赛收官
7月13日至19日，第16届郎酒庄园会员杯高尔夫对抗赛——北部分站赛在威海举行。来自全国38支郎酒庄园会员高尔夫球队、300余位会员朋友齐聚黄海之滨。据悉，郎酒庄园会员高尔夫体系已覆盖全国500多座城市，汇聚100余支会员高尔夫球队、3000余位会员朋友。

02 Langjiu Member Cup Northern Regional Tournament Concludes
From July 13 to 19, the 16th Langjiu Estate Member Cup Golf Tournament – Northern Regional Tournament – was held in Weihai. Thirty-eight Langjiu Estate member golf teams from across the country, with over 300 members, gathered on the shores of the Yellow Sea. It is understood that the Langjiu Estate member golf system now covers more than 500 cities nationwide, bringing together over 100 member golf teams and more than 3,000 members.

03 西凤酒山东市场半年会召开
7月19日，西凤酒营销管理公司山东市场2026年上半年工作总结暨下半年工作部署会议在山东省泰安市召开。针对下半年核心工作，会议强调，各区域要聚焦百元以上核心产品招商布局、凤香荟网点建设提速、终端活动精准拉动三大重点工作，持续夯实渠道基础、优化品牌传播、激活消费市场，稳步提升西凤品牌在山东区域的市场影响力与终端占有率。

03 Xifeng Liquor Shandong Market Half-Year Meeting Held
On July 19, the Xifeng Liquor Marketing Management Co. Shandong Market 2026 first-half work summary and second-half work deployment meeting was held in Tai’an City, Shandong Province. Regarding the core work for the second half, the meeting emphasised that all regions must focus on three key priorities: distribution expansion for core products priced above RMB 100, acceleration of Fengxianghui retail network development, and precision-driven terminal promotional activities. Efforts should continuously strengthen the channel foundation, optimise brand communication, activate the consumer market, and steadily enhance the Xifeng brand’s market influence and terminal share in the Shandong region.

04 摘要酒获得意大利A’设计奖
据贵州摘要酒7月20日消息，近日，2025-2026意大利A’设计奖颁奖典礼在意大利科莫举行。摘要酒(一山一水一圣人)二代凭借极具东方文化意蕴的包装设计，在众多参赛产品中脱颖而出，荣获2025-2026意大利A’设计奖银奖。

04 Zhaiyao Liquor Wins Italian A’ Design Award
According to Guizhou Zhaiyao Liquor on July 20, the 2025–2026 Italian A’ Design Award ceremony was recently held in Como, Italy. The second-generation Zhaiyao Liquor (One Mountain, One River, One Sage) stood out among numerous competing products with its packaging design rich in Eastern cultural connotations, winning the Silver Award at the 2025–2026 Italian A’ Design Awards.

05 口子窖：2026年将自主深化渠道改革
7月20日，安徽口子酒业股份有限公司召开2025年度暨2026年第一季度业绩说明会。会议透露，2026年公司将自主持续深化渠道改革，重点聚焦渠道提质、厂商协同、经销商赋能三大方向。未来三年公司营销将围绕”真藏实窖、诚待天下”两大核心主线落地：一是以”真藏实窖”夯实品质壁垒，二是以”诚待天下”深化用户运营。目前兼系列整体复购表现良好，公司将稳步优化产品结构、持续提升兼系列战略占比。

05 Kouzi Distillery: To Deepen Channel Reform Independently in 2026
On July 20, Anhui Kouzi Distillery Co., Ltd. held its 2025 annual and 2026 first-quarter performance briefing. The meeting revealed that in 2026, the company will independently and continuously deepen channel reform, with a focus on three key directions: channel quality improvement, manufacturer-distributor collaboration, and dealer empowerment. Over the next three years, the company’s marketing efforts will centre on two core themes: “Zhencang Shijiao” (Authentic Cellaring, True Brewing) to solidify its quality moat, and “Cheng Dai Tianxia” (Sincerity to the World) to deepen user engagement. Currently, the overall repeat purchase rate for the Jian series remains strong, and the company will steadily optimise its product structure while continuing to increase the strategic share of the Jian series.

06 全兴酒业上半年有效终端同比增长53%
7月18—19日，全兴酒业在成都召开半年度工作会议，会上透露公司上半年有效终端同比增长53%，光瓶系列重点完成核心市场渠道布局，开瓶数据同比增长80倍。

06 Quanxing Liquor’s Effective Terminals Grow 53% Year-on-Year in H1
From July 18 to 19, Quanxing Liquor held its half-year work conference in Chengdu, where it was revealed that the company’s effective terminals grew 53% year-on-year in the first half. The Guangping series has completed channel layout in key core markets, with bottle-opening data increasing 80-fold year-on-year.

07 口子窖发布低度小酒新品
7月19日，安徽口子酒业于濉溪酿酒遗址博物馆举办了一场「麻雀也能喝二两」低度小酒新品发布会暨「淮北首发」品鉴晚宴。本次发布会融合了非遗考古文化、低度酿造技术、年轻化内容营销、谷物餐酒品鉴四种形式。

07 Kouzi Distillery Launches New Low-ABV Miniature Liquor
On July 19, Anhui Kouzi Distillery held a new product launch event for its low-ABV miniature liquor themed “Even a Sparrow Can Drink Two Liang,” along with a “Huaibei Debut” tasting dinner, at the Suixi Brewing Heritage Museum. The launch event integrated four elements: intangible cultural heritage archaeology, low-ABV brewing technology, youth-oriented content marketing, and grain-based food-and-liquor pairing tastings.

08 白水杜康2026高质量发展大会举行
7月19日，”大河奔涌 清香致远”第七届黄河两岸清香酒高峰对话暨白水杜康2026高质量发展大会在西安举行。会议发布了《2026黄河两岸清香酒高峰对话年度共识》。会上，陕西白水杜康酒厂股份有限公司董事长张红军提出了三点思考：第一，以品质筑牢产区根基。第二，以共赢凝聚厂商合力。第三，以开放推动产区共荣。

08 Baishui Dukang 2026 High-Quality Development Conference Held
On July 19, the 7th Yellow River Basin Light-Aroma Baijiu Summit Dialogue and Baishui Dukang 2026 High-Quality Development Conference, themed “Mighty River Surges · Light Aroma Reaches Far,” was held in Xi’an. The conference released the “2026 Yellow River Basin Light-Aroma Baijiu Summit Dialogue Annual Consensus.” At the meeting, Zhang Hongjun, Chairman of Shaanxi Baishui Dukang Distillery Co., Ltd., put forward three key thoughts: first, solidifying the regional foundation through quality; second, uniting manufacturer and distributor efforts through win-win cooperation; and third, promoting regional co-prosperity through openness.

09 天佑德酒发布全新转型战略
7月17日，天佑德酒第八届全国经销商大会于青海互助召开。青海互助天佑德青稞酒股份有限公司董事长李银会在会上明确了企业全新转型战略，将构建”以消费者为中心”的经营体系。包括深耕县域下沉渠道，重点培育大众平价消费市场，巩固100-300元主流价格带动销优势；形成”青稞白酒主渠道 + 健康青稞消费品新渠道”双轮驱动格局。同时，公司还布局了”24H青轻生活馆”体验终端。

09 Tianyoude Liquor Releases New Transformation Strategy
On July 17, Tianyoude Liquor’s 8th National Distributor Conference was held in Huzhu, Qinghai. Li Yinhui, Chairman of Qinghai Huzhu Tianyoude Highland Barley Liquor Co., Ltd., outlined the company’s new transformation strategy at the meeting, which aims to build a “consumer-centric” operating system. This includes deep cultivation of county-level distribution channels, a focus on cultivating the mass-market affordable segment, consolidating sell-through advantages in the mainstream RMB 100–300 price range, and establishing a dual-wheel driven structure of “highland barley baijiu as the primary channel + healthy highland barley consumer products as a new channel.” Additionally, the company has launched “24H Qingqing Life Hall” experience terminals.

10 会稽山：公司原酒储备丰富
7月20日，针对投资者关于”公司20年以上基酒存储数量，未来能否持续支撑兰亭黄酒日益增长的客户需求量？”的问题，会稽山回复道：公司原酒储备丰富，不仅为公司优化产品结构、满足多元消费需求提供了品质保障，也为公司业务的长远发展与产品结构升级奠定了基础。

10 Kuijishan: Company Has Abundant Base Liquor Reserves
On July 20, in response to an investor’s question regarding “the volume of base liquor aged over 20 years in storage and whether it can sustainably support the growing customer demand for Lanting huangjiu in the future,” Kuijishan replied: The company has abundant base liquor reserves, which not only provide quality assurance for optimising the product mix and meeting diverse consumer demands, but also lay a solid foundation for the company’s long-term business development and product structure upgrades.

11 “青岛啤酒球迷队”成立
7月19日晚，青岛啤酒第七届全国球迷大会收官活动在长沙举行。本届球迷大会以”与你共赴热爱”为主题，活动现场，青岛啤酒宣布正式成立”青岛啤酒球迷队”，将其定位为世界杯参赛队伍之外的”第49支球队”，面向全国球迷开放，打造统一的球迷交流社群。

11 “Tsingtao Beer Fans Team” Established
On the evening of July 19, the closing event of the 7th Tsingtao Beer National Fans Conference was held in Changsha. This year’s Fans Conference was themed “Embracing Passion with You.” At the event, Tsingtao Beer announced the official establishment of the “Tsingtao Beer Fans Team,” positioning it as the “49th team” beyond the World Cup participating teams. Open to football fans nationwide, it aims to create a unified community for fan interaction and exchange.

12 白酒股集体大涨
7月20日收盘，白酒股集体大涨。其中，贵州茅台涨5.95%，股价报1327.5元/股，最新市值1.66万亿元，居Wind热门股票榜第二名。山西汾酒、泸州老窖分别上涨5.33%、6.33%，古井贡酒直接涨停。

12 Baijiu Stocks Surge Across the Board
At the close of trading on July 20, baijiu stocks posted broad-based gains. Among them, Kweichow Moutai rose 5.95% to RMB 1,327.5 per share, with a market capitalisation of RMB 1.66 trillion, ranking second on Wind’s Hot Stock List. Shanxi Fenjiu and Luzhou Laojiao rose 5.33% and 6.33% respectively, while Gujing Gongjiu hit the daily limit-up.

13 汾阳2025年白酒产量突破30万千升
7月19日，”汾清天下·杏花村汾酒专业镇全国行”第四十一站（山西杏花源酒业专场推介会）走进呼和浩特市。会议透露，2025年，汾阳全市白酒产量突破30万千升，产业总产值达290亿元，相关营收突破400亿元，产业规模持续壮大。

13 Fenyang’s Baijiu Production Exceeds 300,000 Kilolitres in 2025
On July 19, the 41st stop of the “Fenqing Tianxia · Xinghuacun Fenjiu Professional Town National Tour” (Shanxi Xinghuayuan Liquor Special Promotion Event) arrived in Hohhot. The meeting revealed that in 2025, Fenyang’s total baijiu production exceeded 300,000 kilolitres, with total industrial output reaching RMB 29 billion and related revenue surpassing RMB 40 billion, as the industry’s scale continues to expand.

14 仁怀酱酒亮相六盘水
7月16日至18日，世界酱香白酒核心产区（仁怀）”美酒献华夏”沉浸式体验推介活动走进六盘水。产品展销现场，多家仁怀企业酱酒产品集中亮相，众多市民跑友在现场免费品鉴酱酒，现场还推出满减优惠券，并设置了调酒品鉴、非遗变脸、趣味魔术等互动环节。

14 Renhuai Sauce-Aroma Baijiu Makes Appearance in Liupanshui
From July 16 to 18, the “Fine Wines to China” immersive experience promotion event of the World Sauce-Aroma Baijiu Core Production Area (Renhuai) arrived in Liupanshui. At the product exhibition and sales site, sauce-aroma baijiu products from multiple Renhuai enterprises were showcased, with numerous local citizens and runners enjoying free tastings on site. The event also offered discount coupons and featured interactive activities including cocktail blending tastings, intangible cultural heritage face-changing performances, and magic shows.