ZJLD (06979) has announced that the group expects to report revenue between approximately RMB 3.55 billion and RMB 3.70 billion for the year ending December 31, 2025. This represents a decrease of 47.7% to 49.8% compared to the revenue of about RMB 7.07 billion for the year ending December 31, 2024. The company anticipates an attributable profit to equity shareholders in the range of RMB 520 million to RMB 580 million for 2025, a decline of 56.1% to 60.6% from the approximately RMB 1.32 billion recorded in 2024. Furthermore, the adjusted net profit for 2025 is projected to be between RMB 520 million and RMB 580 million, which is 65.5% to 69.0% lower than the adjusted net profit of about RMB 1.68 billion in 2024. The primary reason for these decreases is weakened market demand leading to a reduction in baijiu consumption, particularly in business and social entertaining, as well as gifting occasions. The decline is also partly attributed to measures taken by the company in the second half of 2025 to further reduce channel inventory.