2025年度，白酒行业步入深度调整周期，部分消费场景需求不足、恢复不及预期，消费需求承压。公司 自有品牌中高档产品的占比下降，预计营业收入同比下降13%以内；同时，为持续活化市场、强化终端 动销、稳固品牌市场地位，公司保持必要的市场投入力度，销售费用降幅低于营业收入降幅，叠加营收 下降的影响，最终导致公司实现归属于上市公司股东的净利润为421.35万元至632.02万元，同比下降 85%-90%。 格隆汇1月29日丨天佑德酒(002646.SZ)公布，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，比上年同期下降85.00%～90.00%，扣除非经常性损益后的净利润183.39万元～275.08万 元，比上年同期下降92.79%～95.20%。 ...

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]