洋河股份：上半年营收下滑35.32%至147.96亿元，省内收入71.21亿元

Core Insights - The company reported a significant decline in revenue and net profit for the first half of 2025, with revenue down 35.32% to 14.796 billion yuan and net profit down 45.34% to 4.344 billion yuan [1] Revenue Breakdown - Domestic revenue decreased by 25.79% to 7.121 billion yuan [1] - Revenue from outside the province fell by 42.68% to 7.392 billion yuan [1] Product Category Performance - Revenue from mid-to-high-end liquor dropped by 36.52% to 12.672 billion yuan [1] - Revenue from ordinary liquor decreased by 27.24% to 1.841 billion yuan [1] Channel Performance - Wholesale and distribution revenue declined by 35.78% to 14.292 billion yuan [1] - Online direct sales revenue reduced by 6.91% to 0.221 billion yuan [1]