LZLJ(SZ:000568) Zheng Quan Ri Bao Wang·2025-06-28 02:44Core Viewpoint - The Chinese liquor industry is undergoing a new adjustment cycle, with a trend of reduced volume and improved quality becoming more pronounced. Despite the challenges, the industry is expected to maintain a "spiral upward" trend, and the cultural confidence in liquor remains strong among consumers [1]. Group 1: Industry Trends - The white liquor consumption demographic is changing, with a diversification trend emerging. The younger generations, particularly those born after 1985 and young women, are becoming the most promising consumer groups [2]. - The industry is experiencing a shift from social attributes of liquor consumption back to emotional attributes [2]. - The market for mid-to-low alcohol products is expanding as companies aim to attract younger consumers, with many brands, including the company, innovating in this segment [3]. Group 2: Company Performance - In 2024, the company achieved an operating income of 31.196 billion yuan and a net profit of 13.473 billion yuan, representing year-on-year growth of 3.19% and 1.71%, respectively [1]. - The company aims for steady progress in operating income for 2025, focusing on channel expansion, innovation in low-alcohol products, and enhancing research and technology capabilities [2]. - The company's "Guojiao" brand remains strong, with a market presence expected to grow further, and the introduction of new products like the 28-degree Guojiao 1573 is planned [3].