基金一季报密集披露，贵州茅台为何持续受机构青睐

Group 1 - The core viewpoint of the articles highlights the strong performance and continued institutional interest in Kweichow Moutai, driven by its stable cash flow and high dividend yield, amidst a challenging economic environment [1][2][5] - Kweichow Moutai remains the top holding for public funds, with over 90 million shares held and a market value exceeding 140 billion yuan, indicating its status as a favored investment choice [1][4] - The company achieved a 15% year-on-year net profit growth in 2024, demonstrating its robust operational capabilities despite industry adjustments [2][6] Group 2 - The domestic consumption market is identified as a key growth driver, supported by a large population base and increasing consumer demand, which enhances the appeal of the food and beverage sector [1] - Institutional investors show a preference for high-dividend stocks, with Kweichow Moutai exemplifying this trend through its commitment to maintaining a cash dividend ratio of no less than 75% of annual net profit from 2024 to 2026 [5] - The strategic position of Kweichow Moutai in major indices like the CSI 300 and SSE 50, where it holds significant weight, further solidifies its attractiveness to long-term investors as index-based investment strategies gain traction [8][9]