Ge Long Hui A P P·2025-09-15 06:30Core Viewpoint - Tianfeng Securities report indicates that Jinhui Liquor's Q2 2025 operating revenue, net profit attributable to the parent, and net profit excluding non-recurring items are 651 million, 64 million, and 58 million yuan respectively, showing year-on-year declines of 4.02%, 12.78%, and 27.25% [1] Group 1: Financial Performance - The company's Q2 2025 operating revenue is 651 million yuan, representing a year-on-year decrease of 4.02% [1] - The net profit attributable to the parent for Q2 2025 is 64 million yuan, down 12.78% year-on-year [1] - The net profit excluding non-recurring items for Q2 2025 is 58 million yuan, reflecting a year-on-year decline of 27.25% [1] Group 2: Strategic Focus - The company emphasizes "user engineering" and increases efforts in user acquisition, particularly through consumer interaction to boost group purchasing channels [1] - The company aims to drive continuous growth in its vintage series amidst the impact of the "prohibition order" by managing inventory and maintaining price stability [1] Group 3: Profit Forecast - Due to the overall industry environment, the company has moderately adjusted its profit forecast, expecting net profits attributable to the parent for 2025-2027 to be 375 million, 401 million, and 455 million yuan respectively, down from previous estimates of 410 million, 452 million, and 521 million yuan [1] - The company maintains a "buy" rating despite the adjustments in profit forecasts [1]