SCSF(SH:600779) Zheng Quan Ri Bao·2025-10-30 23:12Core Viewpoint - The company is experiencing significant challenges in the liquor industry due to macroeconomic cycles, industry adjustments, and policy changes, leading to a substantial decrease in shipment volumes in the third quarter of 2025 [6][8]. Financial Data - The third quarter financial report is unaudited, and the company has implemented various cost-reduction and efficiency-enhancing measures, resulting in a notable increase in net profit and net profit margin compared to the first half of the year [3][6]. - The company reported a significant reduction in shipment volumes due to management measures such as halting shipments and reducing promotional efforts [6][8]. Shareholder Information - As of the end of the reporting period, the company has a total of 2,862,400 shares held in a repurchase account, accounting for 0.59% of total shares, which is not included in the top ten shareholders [4]. Industry Context - Since 2025, the liquor industry has been in a deep adjustment phase, particularly affecting traditional consumption scenarios like business banquets, leading to high inventory levels [6][8]. - The company has launched an innovative product, "Water Well Square Well 18," and plans to continue introducing new products to target younger and more personalized market segments [6][8].