Shanghai Guijiu (600696)2024-07-10 10:53Financial Performance - The company expects a net profit attributable to shareholders of between -55 million and -82.5 million yuan for the first half of 2024, indicating a significant loss compared to the same period last year[1]. - The company's net profit attributable to shareholders for the same period last year was 53.51 million yuan, with a net profit of 41.02 million yuan after deducting non-recurring gains and losses[4]. Industry Conditions - The overall recovery of the liquor industry in the first half of 2024 did not meet expectations, with sluggish terminal sales and insufficient consumption growth momentum[5]. Government Support - The company did not receive any government subsidies during the reporting period, in contrast to 16.74 million yuan received in the same period last year[6]. Distributor Relationships - Due to financial pressure, the company was unable to timely pay rebates and market activity expenses to distributors, leading to strained distributor relationships and a significant decrease in operating revenue compared to last year[14]. Strategic Initiatives - The company is accelerating its strategic transformation, focusing on "core brands, core categories, core markets, and core models" to improve performance in the second half of the year[14]. - The company aims to reverse the unfavorable situation and achieve better operating results in the latter half of 2024[14]. Financial Reporting - The preliminary financial data provided is subject to final confirmation in the official 2024 semi-annual report[15].