China Spirits_ Shede (NC)_ China spirits trip_ expect pressure in 1H25 but improvement in 2H25 to support a positive growth target in FY25

shuinu9870 更多一手调研纪要和研报数据加V： shuinu9870 continue to deliver solid growth with channel penetration increase, while seeing less 2025. 4) By consumption scenario, company is developing the banquets market shuinu9870 更多一手调研纪要和研报数据加V： 19 December 2024 | 4:00PM HKT (Rmb1.5bn in 2024, 20% yoy sales growth in 1H24 and slowdown in 3Q24); T68 to negative impact from shipment control of customized non-standard products in shuinu9870 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： The following are additional required disclosures: Ow ...