According to the Huatai Securities Research Report, the overall performance of the Mid-Autumn Festival and National Day liquor market this year was lackluster, and the industry continued to differentiate. Looking at the scenario, business banquets, high-end gifts, and corporate large-scale purchases are still weak, and personal gifts, family drinks, and mass banquets are relatively supported; in terms of price, the dominant single products of Flying Maotai, Maotai 1935, and some real estate wines performed well, and the pressure on the lower end of the business sector is quite obvious. The current trend of concentrating demand on leading brands and superior single products continues. Partial inventory removal helps release pressure on channel operations. The inflection point in industry demand still needs to be tracked. In the future, it is still necessary to observe the actual opening of bottles, post-holiday replenishment, and channel profit repair progress. Looking ahead to the future market, the leading wine companies in this round of adjustments are all focusing on long-term healthy development. The pressure on the reporting side is quickly cleared, and the industry is expected to steadily enter a benign repair stage. It is recommended to focus on leading brands with excellent quality and reversal at the bottom.

According to the Huatai Securities Research Report, the overall performance of the Mid-Autumn Festival and National Day liquor market this year was lackluster, and the industry continued to differentiate. Looking at the scenario, business banquets, high-end gifts, and corporate large-scale purchases are still weak, and personal gifts, family drinks, and mass banquets are relatively supported; in terms of price, the dominant single products of Flying Maotai, Maotai 1935, and some real estate wines performed well, and the pressure on the lower end of the business sector is quite obvious. The current trend of concentrating demand on leading brands and superior single products continues. Partial inventory removal helps release pressure on channel operations. The inflection point in industry demand still needs to be tracked. In the future, it is still necessary to observe the actual opening of bottles, post-holiday replenishment, and channel profit repair progress. Looking ahead to the future market, the leading wine companies in this round of adjustments are all focusing on long-term healthy development. The pressure on the reporting side is quickly cleared, and the industry is expected to steadily enter a benign repair stage. It is recommended to focus on leading brands with excellent quality and reversal at the bottom.