天佑德酒：预计2025年归属于上市公司股东的净利润421.35万元~632.02万元

Group 1 - The company Tianyoude Liquor expects a net profit attributable to shareholders of 4.2135 million to 6.3202 million yuan for 2025, representing a decline of 85% to 90% compared to the same period last year [1] - The primary reason for the performance change is the deep adjustment cycle in the liquor industry, with insufficient demand in certain consumption scenarios and recovery not meeting expectations, leading to pressure on consumer demand [1] - The proportion of mid-to-high-end products in the company's own brand has decreased, and it is anticipated that operating revenue will decline by no more than 13% year-on-year [1] Group 2 - To continuously activate the market, strengthen terminal sales, and stabilize brand market position, the company maintains necessary market investment efforts, resulting in a decrease in sales expenses that is lower than the decline in operating revenue [1] - The combination of declining revenue and the maintained investment in market activities ultimately leads to the expected net profit drop [1]