舍得酒业：二季度净利润同比增长139.48%

Core Insights - Shede Liquor achieved operating revenue of 2.701 billion yuan and net profit attributable to shareholders of 443 million yuan in the first half of 2025, with a strong second quarter performance showing a net profit increase of 139.48% year-on-year [1] - The company successfully navigated industry challenges by implementing inventory reduction and price stabilization strategies, leading to a robust recovery in dealer confidence and a total of 2,585 dealers by the end of the first half [1] Group 1 - In the second quarter, Shede Liquor's operating revenue was 1.125 billion yuan, remaining stable year-on-year, while net profit reached 97.17 million yuan, marking a significant increase [1] - The company has nearly completed its inventory reduction efforts, bringing inventory levels back to rational levels [1] - The core products, "Pinwei Shede" and "Cangpin Shede," maintained stable pricing for 10 years, contributing to strong channel confidence recovery [1] Group 2 - Shede Liquor executed a strategy focused on "downstream channels, upward branding, and comprehensive C-end engagement," achieving notable results in the incremental market [2] - E-commerce sales reached 336 million yuan, reflecting a year-on-year growth of 31.38%, with significant growth in internet sales and exclusive products [2] - The company expanded its international presence, reaching 40 countries and regions, further deepening its globalization efforts [2]