Jiangsu Yanghe Distillery Co.,Ltd. (002304.SZ) recently issued its 2025 performance forecast announcement. According to the forecast, the company's net profit attributable to shareholders for 2025 is projected to be between 2.11578 billion yuan and 2.52356 billion yuan, representing a year-on-year decrease of 62.18% to 68.30%.
Net profit after deducting non-recurring gains and losses is expected to range from 1.85318 billion yuan to 2.26096 billion yuan, a decline of 66.92% to 72.89% compared to the same period last year. Basic earnings per share are anticipated to be between 1.4045 yuan and 1.6752 yuan.
The announcement indicates that during the reporting period, the baijiu industry is in a phase of deep adjustment, with significant changes in the competitive landscape. Against the backdrop of intensifying competition for market share, the company faced challenges including reduced market demand, weakened brand momentum, increased channel inventory, and declining channel profits.
Mid-range and sub-premium products were under significant pressure, with sales obstructed in some markets leading to a notable decrease in volume. Confronted with the severe market conditions in 2025, the company's marketing efforts focused primarily on inventory reduction, price stabilization, and momentum enhancement.
The company implemented quota controls on its main products and allocated corresponding expenses around inventory digestion and momentum building, which had a substantial impact on its profitability for the period. The company cautioned that this performance forecast is a preliminary calculation by its finance department.
Specific financial data will be subject to the company's officially disclosed 2025 annual report, and investors are advised to be mindful of investment risks.
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