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茅台几乎20连跌!限酒令后,国产白酒巨头全暴跌,史上首次出现

Core Viewpoint - The Chinese liquor industry, particularly the baijiu sector, is experiencing a significant downturn due to new government regulations prohibiting alcohol consumption at official dining events, leading to a sharp decline in stock prices for major baijiu companies [1][6][27]. Group 1: Market Performance - On June 13, all 20 baijiu stocks listed saw declines, with Jinhuijiu leading at a drop of 5.24%, and Kweichow Moutai has been on a downward trend for a month [1]. - Following the new regulations, Kweichow Moutai's market value evaporated by over 40 billion yuan, with other brands like Wuliangye and Luzhou Laojiao experiencing even steeper declines [6][12]. Group 2: Regulatory Impact - The new regulation from May 18 explicitly bans the presence of baijiu at official dining tables, directly impacting a major consumer base for the industry [6][27]. - Previous regulations in 2012 had already limited government spending on baijiu, which accounted for about 40% of the market, particularly affecting high-end products [4][27]. Group 3: Changing Consumer Preferences - Younger consumers are shifting away from traditional baijiu, favoring a more diverse range of alcoholic beverages, including craft beer and fruit wine, with craft beer market growth projected to reach 680 billion yuan by 2024 [19][21]. - The fruit wine market also showed strong growth, with a 88% increase in sales in Q1 2024, indicating a shift in drinking culture among younger generations [23]. Group 4: Industry Response - In response to declining sales, major baijiu brands are engaging in price wars, with Kweichow Moutai's prices dropping significantly from previous highs [8][14]. - The industry is urged to innovate and adapt to changing consumer preferences, with calls for a return to the essence of baijiu as a beverage rather than a status symbol [27][29].