Core Viewpoint - Tianyoude Liquor is experiencing significant management upheaval with the resignation of its top executives, which may be linked to the company's poor performance in the white liquor industry [1][3][4]. Management Changes - The company announced the resignation of its General Manager, Wang Guodong, on February 1, citing personal reasons, and he will no longer hold any positions within the company or its subsidiaries [1][4]. - Just a month prior, the Vice General Manager, Lu Shuilong, also resigned for personal reasons, marking a rapid turnover in key leadership roles [1][4][5]. - Lu Shuilong's tenure as Vice General Manager lasted only four months, indicating instability in the company's management [8]. Financial Performance - Tianyoude Liquor's performance has been declining, with a projected net profit for 2025 expected to be between 4.21 million and 6.32 million yuan, representing a year-on-year decline of 85% to 90% [3][12]. - The company reported a decrease in revenue for 2024, with a net profit of 42.14 million yuan, down 52.96% from the previous year [11][12]. - The company has faced challenges due to a deep adjustment cycle in the white liquor industry, with insufficient recovery in consumer demand and a decrease in the proportion of mid-to-high-end products [3][12]. Performance Metrics - In 2023, Tianyoude Liquor achieved a revenue of 1.21 billion yuan, a year-on-year increase of 23.50%, but failed to meet its revenue targets for 2024 and 2025 [11][12]. - The company’s net profit for the first three quarters of 2025 was reported at 21.81 million yuan, a decline of 62.03% year-on-year [12][13]. - The company has not met its revenue targets for two consecutive years, indicating ongoing financial difficulties [13].

Core Viewpoint - The recent resignation of a key executive, Wan Guodong, from Tianyoude Liquor highlights ongoing challenges within the company, which has been experiencing declining performance in recent years [2][5][8]. Group 1: Executive Changes - Wan Guodong has resigned as the company's general manager and board member due to personal reasons, marking a significant leadership change [2]. - He took over the role in December 2022 after the previous general manager, Lu Shuilong, also resigned for personal reasons [5]. - Both executives have prior experience at Jinpai Co., indicating a potential trend in leadership turnover within the company [5][7]. Group 2: Company Performance - Tianyoude Liquor, the only publicly listed liquor company in Qinghai, has seen a decline in its financial performance, with revenue dropping below 1 billion yuan multiple times since 2016 [8]. - For the first three quarters of 2025, the company reported revenue of 880 million yuan, a year-on-year decrease of 10.8%, and a net profit decline of 62% to 20 million yuan [8]. - The third quarter alone saw revenue of 210 million yuan, down 9.3% year-on-year, with a net loss of 30 million yuan [8]. Group 3: Product Strategy - The company categorizes its products into categories such as barley liquor and other types, with barley liquor being the primary focus [9]. - Since 2018, revenue from mid-to-high-end barley liquor has slowed, prompting a restructuring of product classifications based on retail price ranges [9]. - In the first half of 2025, barley liquor accounted for 99.06% of total revenue, with products priced above 100 yuan per 500ml making up 52.02% of sales [9]. Group 4: Market Initiatives - Tianyoude Liquor is attempting to revitalize its brand by launching innovative products aimed at younger consumers, such as lemon-flavored and pear-flavored barley liquors [10]. - However, increased marketing efforts and sales team expansion have led to higher expense ratios, negatively impacting profitability [11]. - In the third quarter of 2025, the company's gross margin and net margin were reported at 57.89% and -14.35%, respectively, reflecting a decline from previous periods [11].

资料显示，万国栋曾任广西天龙泉酒业有限公司总经理、劲牌有限公司副总裁等职。2022年12月27日被 聘为青海互助天佑德青稞酒股份有限公司总经理，在天佑德酒任职期间兼任多家子公司执行董事。 尽管公告称其因个人原因辞职，但业界认为他的离任与公司的业绩表现不无关联。 1月30日，天佑德酒发布2025年度业绩预告。公告显示，公司预计2025年度归属于上市公司股东的净利 润为421.35万元至632.02万元，较上年同期的4213.53万元大幅下降85%至90%；扣除非经常性损益后的 净利润预计为183.39万元至275.08万元，同比下降92.79%至95.20%。 近期以来，多家区域酒企发布业绩预告，在业绩下滑的同时还出现高层人事变动。 1月21日晚间，青海互助天佑德青稞酒股份有限公司（以下简称"天佑德酒"）发布公告称，公司董事会 近日收到董事、总经理万国栋的书面辞职报告，因个人原因，其申请辞去董事、总经理及董事会战略与 决策委员会委员职务，辞职后不再任职。万国栋的辞职报告自送达董事会起生效，未致董事会成员人数 低于法定人数，不影响董事会运作。 天佑德酒表示，公司将尽快完成董事补选和总经理聘任。截至公告日，万国栋持 ...

Group 1 - The liquor sector experienced a rise of 1.86% on February 2, with Jinhuijiu leading the gains [1] - The Shanghai Composite Index closed at 4015.75, down 2.48%, while the Shenzhen Component Index closed at 13824.35, down 2.69% [1] - Key stocks in the liquor sector showed significant price increases, with Jinhuijiu up 10.00% to 23.98, and Huangtaijiu up 9.98% to 17.52 [1] Group 2 - The liquor sector saw a net inflow of 1.464 billion yuan from main funds, while retail investors experienced a net outflow of 448 million yuan [2] - The trading volume for major liquor stocks included Luzhou Laojiao at 33.07 billion yuan and Wuliangye at 57.54 billion yuan [2] - The stock performance of major companies included Moutai with a closing price of 1427.00, up 1.86%, and Wuliangye at 107.29, up 2.18% [1][2] Group 3 - Moutai had a main fund net inflow of 5.46 billion yuan, while retail investors had a net outflow of 861,700 yuan [3] - Luzhou Laojiao saw a main fund net inflow of 1.56 billion yuan, with a retail net outflow of 1.1 billion yuan [3] - Water Well Square had a main fund net inflow of 1.46 billion yuan, with retail investors experiencing a net outflow of 58.5 million yuan [3]

北京商报讯（记者 刘一博 冯若男）2月2日，北京商报记者从天佑德酒所发公告中获悉，该公司董事会 于近日收到公司董事、总经理万国栋的书面辞职报告。因个人原因，万国栋申请辞去公司董事、总经 理、董事会战略与决策委员会委员职务，辞职后不再在公司及其子公司担任任何职务。公司及公司董事 会对万国栋在任职期间对公司做出的努力表示感谢。 ...

Core Viewpoint - The A-share market sees a rise in liquor stocks despite overall demand decline, with specific brands like Moutai performing well while others face pressure [1] Group 1: Market Performance - Liquor stocks such as Huangtai Liquor and Shui Jing Fang hit the daily limit, with Shui Jing Fang rising over 7% and Jin Hui Liquor over 6% [1] - Other brands like Jinzhongzi Liquor, Jiu Gui Liquor, and Ying Jia Gong Jiu increased by over 3%, while Shede Liquor, Wuliangye, Kouzi Jiao, and Guizhou Moutai rose over 2% [1] Group 2: Demand Analysis - According to a recent report by China Merchants Securities, total demand for liquor is still declining, with a double-digit decrease, aligning with previous expectations [1] - In terms of specific scenarios, business banquets are primarily small gatherings, and mid-to-high-end dining remains sluggish, although there is some recovery in gift-giving demand [1] Group 3: Brand Performance - There is a significant brand differentiation, with Moutai showing excellent sales performance and preemptive stocking for the Spring Festival, while other brands are under pressure [1]

1月30日，天佑德酒跌6.22%，成交额3.42亿元。两融数据显示，当日天佑德酒获融资买入额2233.99万 元，融资偿还1841.19万元，融资净买入392.81万元。截至1月30日，天佑德酒融资融券余额合计2.35亿 元。 融资方面，天佑德酒当日融资买入2233.99万元。当前融资余额2.35亿元，占流通市值的5.36%，融资余 额超过近一年50%分位水平，处于较高位。 融券方面，天佑德酒1月30日融券偿还200.00股，融券卖出200.00股，按当日收盘价计算，卖出金额 1840.00元；融券余量5.80万股，融券余额53.36万元，超过近一年60%分位水平，处于较高位。 分红方面，天佑德酒A股上市后累计派现8.42亿元。近三年，累计派现1.12亿元。 机构持仓方面，截止2025年9月30日，天佑德酒十大流通股东中，招商中证白酒指数A（161725）位居 第二大流通股东，持股2385.81万股，持股数量较上期不变。酒ETF（512690）位居第三大流通股东， 持股927.84万股，相比上期增加313.61万股。香港中央结算有限公司位居第十大流通股东，持股216.78 万股，相比上期减少75.69万股。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 青海互助天佑德青稞酒股份有限公司（以下简称"公司"）董事会于近日收到公司董事、总经理万国栋先 生的书面辞职报告，因个人原因，万国栋先生申请辞去公司董事、总经理、董事会战略与决策委员会委 员职务。万国栋先生辞职后不再在公司及其子公司担任任何职务。 截至本公告日，万国栋先生持有公司股份455,000股。辞去公司董事、总经理职务后，万国栋先生将继 续履行相关承诺并遵守《证券法》和《公司章程》等相关法律法规的规定，对所持公司股份进行管理。 公司及公司董事会对万国栋先生在任职期间对公司做出的努力表示感谢！ 特此公告。 青海互助天佑德青稞酒股份有限公司董事会 2026年2月1日 根据《公司法》《深圳证券交易所上市公司自律监管指引第1号一一主板上市公司规范运作（2025年修 订）》等法律法规以及《公司章程》的相关规定，万国栋先生的辞职报告自送达公司董事会之日起生 效，万国栋先生的辞职未导致公司董事会成员人数低于法定人数，不会对公司董事会运作产生影响。公 司后续将按照法定程序尽快 ...

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 根据公告，万国栋先生的辞职报告自送达董事会之日起生效。此次人事变动未导致公司董事会成员人数 低于法定最低人数，因此不会对公司董事会的正常运作产生直接影响。公司表示，将按照法定程序尽快 完成董事的补选及新任总经理的聘任工作。 关键数据显示，截至公告披露日，万国栋先生持有公司股份455,000股。公司强调，其离职后将继续遵 守相关法律法规及所作承诺，对其所持股份进行合规管理。 中访网数据 青海互助天佑德青稞酒股份有限公司（证券简称：天佑德酒，证券代码：002646）于近日 发布公告，公司董事、总经理万国栋先生因个人原因，已向董事会提交书面辞职报告，辞去其所担任的 公司董事、总经理及董事会战略与决策委员会委员职务。辞职后，万国栋先生将不再在公司及其任何子 公司担任任何职务。 此次高管变动是公司近期的重要人事调整。公司董事会对万国栋先生在任职期间为公司所做的贡献表示 了感谢。市场将关注公司后续管理层的接任安排及其对公司未来战略和经营可能产生的影响。 ...

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002646 证券简称：天佑德酒 公告编号：2026-003 青海互助天佑德青稞酒股份有限公司 关于董事、总经理辞职的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 青海互助天佑德青稞酒股份有限公司（以下简称"公司"）董事会于近日收到公司董事、总经理万国栋先 生的书面辞职报告，因个人原因，万国栋先生申请辞去公司董事、总经理、董事会战略与决策委员会委 员职务。万国栋先生辞职后不再在公司及其子公司担任任何职务。 特此公告。 青海互助天佑德青稞酒股份有限公司董事会 2026年2月1日 根据《公司法》《深圳证券交易所上市公司自律监管指引第1号一一主板上市公司规范运作（2025年修 订）》等法律法规以及《公司章程》的相关规定，万国栋先生的辞职报告自送达公司董事会之日起生 效，万国栋先生的辞职未导致公司董事会成员人数低于法定人数，不会对公司董事会运作产生影响。公 司后续将按照法定程序尽快完成董事的补选、总经理聘任等工作。 截至本公告日，万国栋先生持有 ...