酒鬼酒：Q3净亏损1876.05万元

Core Viewpoint - The company reported a decline in overall performance for the first three quarters of 2025, primarily due to weak demand in the liquor market and cautious customer expectations, despite some improvements in the third quarter [1] Financial Performance - The revenue for the third quarter was 198 million, representing a year-on-year increase of 0.78% [1] - The net profit for the third quarter was -18.76 million [1] - For the first three quarters, the total revenue was 760 million, showing a year-on-year decrease of 36.21% [1] - The net profit for the first three quarters was -9.81 million [1] Market Conditions - The decline in performance is attributed to weak market demand for liquor and a mismatch between dealer collections and end-user sales [1] - The company has been investing in promotional expenses to boost sales, which has contributed to the overall performance pressure [1] Product and Marketing Initiatives - The third quarter saw some improvement in revenue and profitability, aided by the launch of the "Jiu Gui · Free Love" co-branded product and various marketing activities [1] - Despite these initiatives, the company has not been able to reverse the loss situation for the first three quarters [1]