Ge Long Hui A P P·2025-09-26 05:52Core Viewpoint - The report from Zheshang Securities indicates that Huazhi Wine's net profit attributable to the parent company for the first half of the year was 0.56 million yuan, a year-on-year decrease of 63.75% [1] Group 1: Financial Performance - In Q2 2025, the net profit attributable to the parent company was -0.29 million yuan, compared to 0.25 million yuan in Q2 2024 [1] - Due to the impact of the "prohibition order" on liquor sales in 2025, the profit forecast has been revised downwards [1] Group 2: Business Strategy - The company focuses on a customer-centric operational philosophy and is advancing a marketing network centered on chain stores [1] - The three business formats of "Huazhi Wine," "Huazhi Famous Wine Warehouse," and "Huazhi Preferred" create strong synergy to drive market expansion [1] Group 3: Retail Innovation - The company is actively developing an instant retail business by integrating existing store resources and supply chain advantages [1] - The instant retail service model includes "online ordering, store delivery, and rapid distribution," enhancing shopping efficiency and customer satisfaction [1] Group 4: Future Projections - Revenue growth rates for 2025-2027 are projected to be -28.07%, 18.23%, and 8.30% respectively, while net profit growth rates are expected to be -37.17%, 348.49%, and 21.48% [1] - Earnings per share (EPS) are forecasted at 0.07, 0.30, and 0.37 yuan for the years 2025, 2026, and 2027, with price-to-earnings (PE) ratios of 348, 78, and 64 times [1] - The rating is maintained at "Accumulate" [1]