SCSF(SH:600779) Shang Hai Zheng Quan Bao·2026-01-19 21:13Core Viewpoint - The company, Sichuan Shui Jing Fang Co., Ltd., anticipates a significant decline in its financial performance for the year 2025, with net profit expected to decrease by 71% compared to the previous year, primarily due to industry-wide adjustments and economic factors [2][5][10]. Financial Performance Forecast - The company projects a net profit attributable to shareholders of 391.85 million yuan for 2025, a decrease of 949.18 million yuan from the previous year [2][5]. - Expected operating revenue for 2025 is 3.03776 billion yuan, down 2.179 billion yuan, representing a 42% decline year-on-year [2][5]. - The net profit after deducting non-recurring gains and losses is estimated at 380.72 million yuan, also reflecting a 71% decrease from the previous year [3][5]. Previous Year’s Financial Performance - In the previous year, the company reported a total profit of 1.79738 billion yuan and a net profit attributable to shareholders of 1.34103 billion yuan [7]. - The earnings per share for the previous year were 2.7607 yuan [8]. - The operating revenue for the previous year was 5.21676 billion yuan [9]. Reasons for Performance Changes - The white liquor industry is undergoing a deep adjustment phase due to macroeconomic cycles, industry adjustments, and policy changes, leading to a slow recovery in traditional consumption scenarios [10]. - The company is prioritizing channel health by controlling shipment pace and optimizing inventory structure to ensure financial safety for future growth [10][11]. - Measures such as halting shipments and optimizing promotional policies have been implemented to stabilize market order and improve channel confidence, despite short-term revenue and shipment volume declines [11][12]. - The company continues to invest in brand building, market expansion, and product innovation, aiming to enhance competitiveness post-industry cycle adjustments [12].