Jiugui Liquor (000799.SZ) disclosed its performance forecast for the first half of 2024, with an expected net income attributable to shareholders of the listed company of RMB 0.11 billion to 0.13 billion, a year-on-year decrease of 69.19% to 73.93%. The net income after deducting non-recurring gains and losses is RMB 0.11 billion to 0.13 billion, a year-on-year decrease of 68.79% to 73.59%.
During the reporting period, due to changes in demand, the company's product system had a higher proportion of mid-range and mass-price products, resulting in a decrease in the company's overall sales gross margin. In addition, to promote sales, strengthen consumer cultivation, and create a market atmosphere, sales expenses were pre-invested, resulting in an increase in the company's sales expense ratio, thus leading to a larger year-on-year decline in net income for the first half of the year. In addition, the company achieved a total operating income of about RMB 1 billion in the first half of the year, and the decline in operating income in the second quarter was significantly narrower than that in the first quarter.
