Jin Hui Liquor Zhou Zhigang: The large decline in net profit in the third quarter was mainly due to the increase in income tax expenses and the impact of external donations for public welfare students in the current period

Sina Finance's "Liquor Price Internal Reference" launched heavily on the launch of the real market price of well-known liquors
On October 27,Jinhui Liquor held a performance explanation meeting for the third quarter of 2025. Some investors asked, what were the reasons for the company's third-quarter net profit decline so much?
Zhou Zhigang, chairman and president of Jinhui Liquor, replied that Jinhui Liquor achieved operating income of 2.306 billion yuan in the first three quarters of 2025, a year-on-year decrease of 0.97%; achieved total profit of 423 million yuan, a year-on-year increase of 5.48%; and achieved net profit of 324 million yuan, a year-on-year decrease of 2.78%. The main reason is that due to the impact of policies and macroeconomics, consumer demand is weak and consumption scenarios are limited, resulting in a decrease in operating income and net profit compared with the same period last year. The large decline in net profit in the third quarter was mainly due to the increase in income tax expenses and the occurrence of external donations for public welfare students in the current period.
In addition, he was asked what is the current development status of the liquor market? In the first three quarters of this year, which level of the company's products sold the most?
Zhou Zhigang said that the liquor industry is currently in a period of deep adjustment in three phases: "policy adjustment, consumption structure transformation, and stock competition." In the first three quarters of 2025, Jinhui Liquor products with more than 300 yuan achieved operating income of 537 million yuan, a year-on-year increase of 13.75%, accounting for 24.19% of alcohol revenue; products with 100-300 yuan achieved operating income of 1.228 billion yuan, a year-on-year increase of 2.36%, accounting for 55.24% of alcohol revenue; Products below 100 yuan achieved operating income of 457 million yuan, accounting for 20%.57%。
He pointed out that Jinhui Liquor continues to focus on the precise layout of products above 100 yuan (products above 100 yuan accounted for 79.43% in the first three quarters, an increase of 5.79 percentage points), focusing on the creation of large single products, clarifying the positioning of core price bands, and building "Product Tower" has achieved remarkable results in product structure optimization.
On October 24, Jinhui Liquor released its third quarterly report for 2025. In the first three quarters, revenue was 2.306 billion yuan, a year-on-year decrease of 0.97%; net profit attributable to the parent company was 324 million yuan, a year-on-year decrease of 2.78%; non-net profit deducted was 318 million yuan, a year-on-year decrease of 5.61%; basic earnings per share was 0.64 yuan.
Among them, net profit revenue in the third quarter was 546 million yuan, down 4.89% year-on-year, and net profit attributable to the parent company was 255 million yuan, down 33% year-on-year. Due to the decline in Q3, Jinhui Liquor's revenue and profit in the first three quarters turned into a slight decline year-on-year.