洋河股份上半年盈利43亿元，董事长顾宇上任不到一个月

Core Viewpoint - Yanghe Co., Ltd. reported a significant decline in both revenue and net profit for the first half of 2025, leading to a decision not to distribute cash dividends or issue new shares [1][2]. Financial Performance - The company achieved operating revenue of 14.80 billion yuan, a decrease of 35.32% year-on-year [2]. - Net profit attributable to shareholders was 4.34 billion yuan, down 45.34% compared to the previous year [2]. - The net profit after deducting non-recurring gains and losses was 4.23 billion yuan, reflecting a decline of 46.71% [2]. - The net cash flow from operating activities was 616 million yuan, a drop of 69.85% [2]. - Basic and diluted earnings per share were both 2.88 yuan, down 45.34% [2]. - The weighted average return on equity was 8.54%, down 5.67% from the previous year [2]. Asset and Equity Position - Total assets at the end of the reporting period were 61.26 billion yuan, a decrease of 9.03% from the end of the previous year [2]. - Net assets attributable to shareholders were 48.93 billion yuan, down 5.15% [2]. Product Performance - Revenue from high-end liquor was 12.67 billion yuan, a decline of 36.52% year-on-year [3]. - Revenue from ordinary liquor was 1.84 billion yuan, down 27.24% [3]. - The company produced 48,900 tons of liquor and sold 78,200 tons, with inventory at 16,300 tons, representing declines of 51.63%, 32.35%, and 33.96% respectively compared to the previous year [4]. Distribution Network - As of June 30, 2025, the number of distributors was 8,609, a decrease of 257 from the end of 2024, with a reduction of 268 distributors outside Jiangsu province [5]. - The number of distributors within Jiangsu province increased by 11 to 3,010 [5]. Leadership Changes - The current chairman, Gu Yu, took office less than a month after the resignation of former chairman Zhang Liandong due to work adjustments [6]. - Gu Yu was elected as the chairman of the board on July 21, 2025, with a term aligned with the current board [7].