Kouzijiao(SH:603589) Sou Hu Cai Jing·2026-01-07 19:24Group 1 - The company Kuozi Jiao (603589.SH) announced a significant decrease in its expected net profit for 2025, projecting a range of 662 million to 828 million yuan, which represents a decline of 50% to 60% compared to the previous year [3] - The company also expects its net profit after excluding non-recurring gains and losses to be between 645 million and 811 million yuan, indicating a reduction of 49.65% to 59.93% year-on-year [3] - The decline in profit is attributed to market differentiation and intensified channel changes within the white liquor industry, alongside a decrease in demand and policy changes, leading to a significant drop in sales of high-end products [3] Group 2 - The white liquor industry is currently undergoing a deep adjustment period, with industrial white liquor production in November 2025 reported at 318,000 kiloliters, a year-on-year decrease of 13.8% [4] - Cumulative production from January to November 2025 was 3.215 million kiloliters, reflecting a year-on-year decline of 11.3% [4] - The industry is facing challenges such as declining demand, sluggish sales, and high inventory levels, which have become the norm [4][5]