舍得酒业回应毛利率下滑：市场投入增加，中高档产品收入占比略有下滑

Group 1 - The core viewpoint of the article highlights the significant decline in the gross profit margin of the company's liquor products, which decreased by 7.75 percentage points to 70.93% in 2024 compared to the previous year [1] - The sales revenue proportion of products priced above 200 yuan has decreased, with the 300-500 yuan product segment seeing a decline of 7.83 percentage points [1] - The average selling price of liquor products increased by 2% year-on-year, with notable increases of 31% and 59% for products priced below 50 yuan and between 200-300 yuan, respectively, while other price segments experienced single-digit declines [1] Group 2 - The company is adopting a strategy of "strong sales, inventory reduction, and price stabilization" in response to the consumption environment in 2024, implementing sales discounts of 3%-5% for different products to promote inventory turnover [2] - Despite increased market investment and a slight decline in the proportion of mid-to-high-end liquor revenue, rising costs for materials and labor have contributed to the year-on-year decrease in gross profit margin [2] - In the first quarter of this year, the company achieved operating revenue of 1.576 billion yuan, a quarter-on-quarter increase of 75.68%, and net profit of 346.1 million yuan, surpassing the total net profit of 345.8 million yuan for the entire previous year [2]