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舍得酒业第二季度净利同比大增140% 沱牌特级T68逆势突围

Core Viewpoint - The liquor industry is currently undergoing a deep adjustment period, facing multiple pressures due to unstable market demand. However, Shede Liquor has shown strong recovery and growth in its operations despite these challenges [1]. Group 1: Performance Overview - In the first half of 2025, Shede Liquor reported a revenue of 2.701 billion yuan, a year-on-year decrease of 17.41%, and a net profit of 443 million yuan, down 29.34% [2]. - Notably, in the second quarter, Shede Liquor achieved a net profit of 97.17 million yuan, a significant increase of 139.5% year-on-year, indicating a positive trend in performance recovery [2][3]. - The company's total assets reached 12.407 billion yuan, a 5.12% increase compared to the same period last year, and its net cash flow from operating activities turned positive, showing a year-on-year growth of 427.77% [3]. Group 2: Inventory and Strategy - Shede Liquor has effectively implemented inventory reduction strategies, nearing the end of its inventory clearance by the second quarter, which has helped stabilize its core products' prices [2]. - The company has focused on channel optimization and precise sales strategies, which have proven effective in navigating the industry downturn [3]. Group 3: Market Expansion - In the first half of 2025, Shede Liquor's e-commerce sales reached 336 million yuan, a year-on-year increase of 31.38%, reflecting strong growth in new sales channels [4]. - The company has successfully penetrated the mass liquor market, with its product "T68" achieving rapid growth and ranking among the top three in its category in key markets [4]. Group 4: Internationalization and New Products - Shede Liquor has expanded its international presence, reaching 40 countries and regions, further deepening its internationalization efforts [5]. - The company plans to launch a new low-alcohol product, "Shede Zizai," aimed at meeting consumer demand for lower alcohol content while maintaining rich flavors, which is expected to enhance its product portfolio and drive future growth [6].