The Huafu Securities Research Report points out that the marginal improvement in the current world is beginning to show stability. In the first half of the year, net profit to mother was 2,082 billion yuan, -6.60% year-on-year; in Q2 alone, net profit to mother was 697 million yuan, +19.17% year-on-year. The operating data showed clear marginal improvement characteristics. The company's product matrix is clear. The operation by brand continues to improve. Deeply involved in brand stratification, Guoyuan V series is deeply involved in high-end circles to protect brand value; Guoyuan has secured the mainstream price of 300-600 yuan in Jiangsu to maintain market share; Guoyuan is elegant and deepens consumer communication to achieve continuous volume; now Shiyuan focuses on the festive brand label to stabilize the basic market; and the Gaogou brand shapes the brand's “standard spirit” with positive cultural content. The company generally adheres to the idea of consolidating the basic market within the province, cultivating new growth poles outside the province, and supplementing growth through emerging channels, and the market attack progressed in an orderly manner. The company is clearly moving towards a stable state of repair with its own upward brand potential, a gradually refined operating system, and a foundation of active adjustments in the early stages. As consumer demand improves in the second half of the year, the company's operating and profit trends are expected to further improve, maintaining a “buy” rating.

The Huafu Securities Research Report points out that the marginal improvement in the current world is beginning to show stability. In the first half of the year, net profit to mother was 2,082 billion yuan, -6.60% year-on-year; in Q2 alone, net profit to mother was 697 million yuan, +19.17% year-on-year. The operating data showed clear marginal improvement characteristics. The company's product matrix is clear. The operation by brand continues to improve. Deeply involved in brand stratification, Guoyuan V series is deeply involved in high-end circles to protect brand value; Guoyuan has secured the mainstream price of 300-600 yuan in Jiangsu to maintain market share; Guoyuan is elegant and deepens consumer communication to achieve continuous volume; now Shiyuan focuses on the festive brand label to stabilize the basic market; and the Gaogou brand shapes the brand's “standard spirit” with positive cultural content. The company generally adheres to the idea of consolidating the basic market within the province, cultivating new growth poles outside the province, and supplementing growth through emerging channels, and the market attack progressed in an orderly manner. The company is clearly moving towards a stable state of repair with its own upward brand potential, a gradually refined operating system, and a foundation of active adjustments in the early stages. As consumer demand improves in the second half of the year, the company's operating and profit trends are expected to further improve, maintaining a “buy” rating.