Core Viewpoint - The collaboration between the supermarket chain "胖东来" and the liquor brand "酒鬼酒" has generated significant market interest, particularly with the launch of their new product "酒鬼·自由爱," which sold out quickly. However, the impact on 酒鬼酒's overall performance remains uncertain due to its low profit margins compared to its traditional products [2][3][6]. Group 1: Product Launch and Market Response - The new product "酒鬼·自由爱" was launched on July 19, 2023, and sold out within two days on the 东来优选 supermarket platform, indicating strong initial demand [2][3]. - 酒鬼酒's stock price increased by over 19% from June 30 to July 18, 2023, following the pre-launch announcement by 于东来, but experienced a slight decline after the product launch [2][3]. - The product is priced at 200 yuan per bottle, with a reported gross profit margin of 15.87%, significantly lower than 酒鬼酒's overall gross margin of 71.37% [3][4][5]. Group 2: Financial Performance and Challenges - 酒鬼酒's revenue for the first half of 2025 is projected to be around 5.6 billion yuan, a decrease of approximately 43% year-on-year, with net profit expected to drop by 90.08% to 93.39% [7][8]. - The company has faced continuous declines in net profit for four consecutive years during the second quarter, marking the first loss in a decade for the company in this period [7][8]. - The collaboration with 胖东来 is seen as a strategic move to counteract declining performance, with plans for further cooperation in retail channel expansion and product innovation [8][9]. Group 3: Market Position and Future Outlook - 胖东来 has previously achieved success with its own white liquor product "宝丰·自由爱," which generated significant sales, indicating its potential to drive sales for "酒鬼·自由爱" as well [9]. - However, the market remains skeptical about whether the collaboration can reverse 酒鬼酒's fundamental issues, such as price discrepancies and inventory buildup among distributors [9]. - The success of "酒鬼·自由爱" may depend on its market acceptance, as it lacks the local brand recognition that contributed to the success of "宝丰·自由爱" [9].