迎驾贡酒上半年营收下滑16.89%至31.6亿元，Q2中高档白酒8.17亿元

Core Insights - The company reported a 16.89% decline in revenue for the first half of 2025, totaling 3.16 billion yuan, and an 18.19% decrease in net profit, amounting to 1.13 billion yuan [1] - In Q2, the sales revenue for mid-to-high-end liquor was 817 million yuan, while ordinary liquor sales reached 210 million yuan [1] Revenue Breakdown - Sales revenue for mid-to-high-end liquor was 816.54 million yuan, represented by brands such as the Cave Storage Series, Gold Star Series, and Silver Star Series [2] - Sales revenue for ordinary liquor was 209.94 million yuan, primarily from the Century Yingjia Gong Series and Simple Packaging Series [2] Channel Performance - Direct sales (including group purchases) generated 823 million yuan, while wholesale and agency sales accounted for 944.1 million yuan [3] - In terms of regional sales, the company achieved 730.3 million yuan in sales within the province [3]