SCSF(SH:600779) Ge Long Hui A P P·2026-01-19 09:40Core Viewpoint - The company, Shui Jing Fang, is expected to experience a significant decline in net profit and revenue for the year 2025, reflecting challenges in the liquor industry due to macroeconomic and policy factors [1] Company Summary - The company anticipates a net profit attributable to shareholders of 391.85 million yuan for 2025, representing a 71% decrease year-on-year [1] - The expected operating revenue for 2025 is 3.03776 billion yuan, which is a 42% decline compared to the previous year [1] - The net profit, excluding non-recurring gains and losses, is projected to be 380.72 million yuan, also a 71% decrease year-on-year [1] Industry Summary - The liquor industry is entering a deep adjustment phase in 2025, influenced by multiple factors including macroeconomic cycles, industry adjustments, and policy changes [1] - The recovery of traditional business banquet consumption scenarios is slow, contributing to high overall inventory levels in the industry [1]