2025年净利预亏且营收不足3亿，上海贵酒或将被强制退市

Core Viewpoint - Shanghai Gui Jiu is facing mandatory delisting due to continuous financial losses, with projected revenue for 2025 expected to be below 300 million yuan and both net profit and profit before non-recurring items anticipated to be negative [2][3] Financial Performance - In the first three quarters of 2025, Shanghai Gui Jiu reported a cumulative revenue of 34.76 million yuan and a net loss attributable to shareholders of 111.89 million yuan [2] - The company experienced a significant decline in 2024, with revenue dropping to 285 million yuan, a year-on-year decrease of 82.54%, and a net loss of 217 million yuan [2] Management and Operational Challenges - The company is currently in a state of crisis, with the chairman under criminal detention and the vice chairman resigning in May 2025, leading to a vacuum in management [3] - The dealer network has nearly collapsed, with the number of dealers plummeting from 4,465 in 2023 to 772 by the end of 2024 due to unfulfilled rebates and overdue market expenses [3] Legal Issues - Shanghai Gui Jiu has lost the legal right to use the "Gui Jiu" trademark following a court ruling, which requires the company to pay 4.18847 million yuan in damages to Guizhou Gui Jiu [3] - This legal setback further exacerbates the company's operational and financial crises, making recovery increasingly difficult [3]