口子窖发预减，预计2025年度归母净利润6.62亿元到8.28亿元，同比减少50%到60%

Core Viewpoint - The company, Kouzi Jiao, expects a significant decline in net profit for the year 2025, projecting a range of 662 million to 828 million yuan, which represents a year-on-year decrease of 50% to 60% [2] Group 1: Financial Performance - The anticipated decline in profit is primarily attributed to market differentiation and intensified channel changes within the liquor industry, coupled with a downturn in demand and policy changes [2] - A substantial drop in sales of high-end liquor products, which are the core profit source, has led to a decrease in operating revenue [2] - Management and sales expenses have not decreased as significantly as the decline in operating revenue, resulting in a larger reduction in total profit [2]