Core Viewpoint - The company, Yingjia Gongjiu, reported steady growth in revenue and net profit for the fiscal year 2024, despite a challenging market environment for the liquor industry, indicating a strong performance relative to peers [1][6]. Financial Performance - In 2024, Yingjia Gongjiu achieved revenue of 7.344 billion yuan, a year-on-year increase of 8.46% [1][2]. - The net profit attributable to shareholders was 2.589 billion yuan, reflecting a year-on-year growth of 13.45% [1][2]. - For Q1 2025, the company reported revenue of 2.047 billion yuan, a decline of 12.35% compared to the same period last year [3][8]. - The net profit for Q1 2025 was 828 million yuan, down 9.54% year-on-year [3][8]. Product Structure and Market Performance - The product structure has been optimized, with mid-to-high-end liquor accounting for 81.59% of total revenue [5][6]. - In 2024, revenue from mid-to-high-end liquor reached 5.712 billion yuan, up 13.76%, while revenue from ordinary liquor decreased by 6.53% to 1.290 billion yuan [6][7]. - The domestic market generated 5.093 billion yuan in revenue, a growth of 12.75%, while the external market saw a modest increase of 1.31% to 1.909 billion yuan [8]. Strategic Initiatives - The company plans to focus on innovation-driven industrial upgrades, enhancing production processes and increasing the quality of its products [10][12]. - Cultural empowerment will be leveraged to deepen brand value, with a focus on the "Cultural Yingjia" strategy [10][12]. - Marketing resilience will be strengthened through organizational optimization and expansion into e-commerce and B2C sales models [10][12][14]. - Lean management practices will be implemented to enhance internal motivation and cost control [14].