Shanghai Guijiu (SH:600696) Nan Fang Du Shi Bao·2025-07-16 04:27Group 1 - The white liquor industry is experiencing a "loss wave," with Shanghai Guijiu continuing to incur losses amid a financial crisis [1][4] - ST Yanshi expects a net profit loss of between 50 million to 75 million yuan for the first half of 2025, representing a year-on-year reduction in loss of 3.07% to 35.38% [1][4] - The company attributes its losses to three main factors: insufficient recovery in the white liquor industry, financial pressure leading to reduced market activity, and an increase in litigation costs due to overdue interest [4][5] Group 2 - Shanghai Guijiu is facing internal and external challenges, including the detention of its chairman and a significant reduction in its distributor network from 4,465 in 2023 to 772 by the end of 2024 [5][6] - The company has been involved in multiple lawsuits, with a total amount of 187 million yuan in disputes, and an accumulated 649 cases with unresolved amounts of 368 million yuan [5][6] - The white liquor industry is undergoing deep adjustments, with smaller brands facing increased survival pressure, as evidenced by 9 out of 17 recently disclosed performance forecasts indicating losses [6]