JGJC(SZ:000799) 2 1 Shi Ji Jing Ji Bao Dao·2025-09-12 11:09Core Viewpoint - The collaboration between JiuGui Jiu and Pang Dong Lai on the "JiuGui·ZiYouAi" product has become a focal point for investors, especially in light of the overall decline in the liquor consumption market [1][2]. Group 1: Product Performance and Sales - The "JiuGui·ZiYouAi" product was launched in July through Pang Dong Lai's channels and quickly sold out, leading to purchase limits being imposed [1]. - JiuGui Jiu has also expanded the product's availability to Hunan BuBuGao supermarkets [2]. - Despite investor inquiries about sales data during the performance briefing, management did not provide specific figures, indicating that the product is being shipped according to the cooperation agreement [2]. Group 2: Financial Performance and Market Response - JiuGui Jiu's revenue and net profit for the first half of the year have continued to decline year-on-year, reflecting a broader trend of weakening demand in the liquor market [2]. - The strong sales of "JiuGui·ZiYouAi" have created potential for a rebound in JiuGui Jiu's performance, contributing to multiple stock price surges this year, with a 26% increase in stock price as of September 12, making it the second-highest gainer among A-share liquor companies [2]. Group 3: Strategic Initiatives and Future Plans - The company is focusing on optimizing channel inventory and fostering healthy supply-demand dynamics, with inventory reduction being a key future task [2]. - The management team plans to continue the BC linkage marketing model, enhancing channel construction and terminal sales, while also targeting specific market segments through the "扫雷" action plan [3]. - JiuGui Jiu aims to develop a "2+2+2" product matrix to cater to younger consumers and self-drinking scenarios, which includes two strategic products, two key products, and two base products [3].