今世缘董事长顾祥悦：预计明年白酒市场逐步复苏

Core Viewpoint - The company expresses optimism about the gradual recovery of the liquor market in the coming year, marking the first time a prominent liquor brand leader has signaled confidence in market recovery this year [2] Company Performance - In the first three quarters of this year, the company reported revenue of 8.881 billion and net profit of 2.549 billion, representing year-on-year declines of 10.66% and 17.39% respectively [2] - The company's performance is noted to be better than the industry average, as the average revenue decline for liquor companies was 20% and net profit decline was 39.2% [3] Market Strategy - The company is focusing on enhancing its management systems and increasing market share, with a strong emphasis on its main brand, Guoyuan, which continues to gain popularity and is a significant revenue driver [3] - The company is actively expanding into provincial markets, particularly in Shandong, Anhui, and Zhejiang, and is implementing a "six focus" strategy to develop various market segments [3] Industry Outlook - Analysts suggest that the adjustment period for the liquor industry may last until at least 2026, with inventory pressures being a significant concern [4] - Despite the challenges, there is a belief that the industry is at a bottoming phase, with the highest inventory levels having passed [4] - The company maintains a cautiously optimistic outlook for its performance in 2025, acknowledging potential pressures due to high comparative bases from the previous year [4]