Di Yi Cai Jing·2025-10-30 12:25Core Insights - The white liquor industry is experiencing a significant downturn, with many companies reporting their worst third-quarter performance to date [1] - The primary reason for the accelerated decline in performance is attributed to insufficient market demand [1] Group 1: Performance Decline - Most listed white liquor companies have reported a sharp decline in third-quarter performance, with some experiencing nearly triple-digit drops in net profit year-on-year [1] - Regional liquor companies, which were among the first to announce their results, have seen their performance declines intensify [1] Group 2: Specific Company Performance - Kuozi Jiao (口子窖) reported a 46.2% year-on-year drop in third-quarter revenue and a staggering 92.6% decline in net profit [1] - Lao Baigan Jiu (老白干酒) experienced a 47.6% drop in revenue and a 68.5% decrease in net profit for the third quarter [1] - Jinshiyuan (今世缘) reported a 26.8% decline in revenue and a 48.7% drop in net profit for the third quarter [1] - Yingjia Gongjiu (迎驾贡酒) saw a 20.8% decrease in revenue and a 39% decline in net profit [1] - Jinhui Jiu (金徽酒) reported a revenue of 550 million yuan, with a net profit of 30 million yuan, reflecting a 4.9% and 33% decline respectively [1] Group 3: Comparison with Leading Companies - The performance of leading liquor companies showed some differentiation, but overall, their results were better than those of regional companies [2]