

Core Viewpoint - The liquor industry is rapidly bottoming out, with leading companies likely to seize opportunities for channel structure adjustments and market expansion as consumer demand gradually improves [1] Industry Summary - The Shanghai Composite Index rose by 0.56% to 3686.34 points on August 13, with the liquor sector closing at 2230.67 points, up 0.12% [1] - Among 14 liquor stocks, 6 experienced declines while 8 saw gains, indicating mixed performance within the sector [1] Company Summary - Kweichow Moutai closed at 1423.76 CNY per share, down 0.92% [1] - Wuliangye closed at 123.20 CNY per share, up 0.01% [1] - Shanxi Fenjiu closed at 188.26 CNY per share, up 0.78% [1] - Luzhou Laojiao closed at 125.29 CNY per share, down 0.11% [1] - Yanghe Brewery closed at 69.10 CNY per share, down 0.22% [1] - CITIC Securities recently reported that leading liquor companies are making proactive adjustments to their channels, which may lead to greater development opportunities if consumer demand improves [1]