酒鬼酒(000799) - 2025 Q2 - 季度业绩预告

I. Current Period Performance Forecast This section covers the performance forecast for H1 2025, indicating a significant year-on-year decline in net profit 1. Performance Forecast Period This performance forecast covers January 1, 2025, to June 30, 2025 - The performance forecast period is January 1, 2025, to June 30, 2025[3] 2. Estimated Operating Performance The company anticipates a year-on-year decline in operating performance for the first half of 2025 - Operating performance is expected to decline year-on-year[3] 3. Performance Forecast Summary Table The company forecasts a significant decline of over 90% in net profit attributable to shareholders and net profit after non-recurring items for H1 2025, with basic earnings per share also significantly reduced year-on-year H1 2025 Performance Forecast vs. Prior Year | Item | Current Period (Jan 1 - Jun 30, 2025) | Prior Period (Jan 1 - Jun 30, 2024) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Shareholders | Profit: 8 million - 12 million CNY | Profit: 121.0196 million CNY | Decline: 90.08% - 93.39% | | Net Profit After Non-Recurring Items | Profit: 8 million - 12 million CNY | Profit: 116.7178 million CNY | Decline: 89.72% - 93.15% | | Basic Earnings Per Share | Profit: 0.0246 - 0.0369 CNY/share | Profit: 0.3724 CNY/share | - | II. Communication with Accounting Firm This performance forecast is unaudited, but the company has pre-communicated with its annual auditors, with no disagreements on the forecast - This performance forecast has not been pre-audited by certified public accountants[4] - The company has pre-communicated with its annual auditors regarding the performance forecast, and no disagreements exist between the parties[4] III. Explanation of Performance Changes This section details the reasons for the performance decline, including industry challenges, company responses, and future improvement plans Industry Background and Operating Pressure In H1 2025, the baijiu industry continued its deep adjustment, facing operating pressure from multiple factors, especially for small and medium-sized distilleries, with cautious dealer payment intentions; the company expects revenue to decline by approximately 43% year-on-year - In H1 2025, the baijiu industry continued its deep adjustment trend, with enterprises facing operating pressure, particularly small and medium-sized distilleries[5] - Dealer payment intentions are cautious[5] H1 2025 Estimated Operating Revenue | Metric | Current Period (Estimated) | Prior Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | Approximately 560 million CNY | - | Decline of approximately 43% | Company Response Measures and Market Performance The company strengthened market infrastructure and streamlined pricing, enhancing terminal sales through marketing transformation and promotions, which reduced inventory and stabilized product prices; however, cautious market expectations, asynchronous dealer payments, and rising sales expenses led to a net profit decline greater than revenue decline - The company strengthened market infrastructure, managed market pace, and further streamlined product pricing and channels[5] - In Q2, the company advanced marketing model transformation, increased consumer-side promotions such as QR code scans and banquets, strengthened terminal sales, with terminal sales consistently exceeding dealer purchases, leading to a continuous reduction in social inventory[5] - By streamlining the product value chain, prices for key products like 'Red Jar' and 'Transparent Pack' have shown stable increases[6] - Market expectations remain cautious, with dealer payments not synchronizing with actual terminal sales, leading to an increase in sales expense ratio; coupled with promotional expenses for new product launches, the company's net profit decline is consequently larger[6] Future Performance Improvement Plan The company plans to actively improve performance in the second half of the year through measures such as strengthening consumer purchase intent, deepening market expansion, actively developing new channels, and enhancing cost reduction and efficiency improvement - Strengthen consumer purchase intent and accelerate terminal sales through ongoing banquet and consumer QR code scan activities[6] - Deepen the 'Sweeping Action' in Hunan and key provincial markets to achieve focused penetration and further increase sales channel outlets[6] - Actively explore new channels, enhancing business growth through partnerships with well-known supermarkets, central enterprise business expansion, and new product development[6] - Strengthen cost reduction and efficiency improvement efforts, implementing various measures to control costs and expenses while ensuring business operational needs, striving to enhance profitability[6] IV. Other Relevant Information This performance forecast consists of preliminary estimates, with detailed financial data to be disclosed in the 2025 semi-annual report; the company designates specific media for information disclosure and advises investors to be aware of investment risks - This performance forecast comprises preliminary estimated data; specific financial data will be detailed in the 2025 semi-annual report[7] - The company's designated information disclosure media include China Securities Journal, Securities Times, Shanghai Securities News, Securities Daily, and Juchao Information Network (www.cninfo.com.cn)[7](index=7&type=chunk) - Investors are advised to pay attention to investment risks[7]