Di Yi Cai Jing·2025-08-20 05:32Group 1 - The liquor sector is showing strength, with notable stock performances such as Jiu Gui Jiu hitting the daily limit, She De Jiu Ye rising over 9%, and Yi Li Te and Gu Jing Gong Jiu increasing over 6% [1] - Dongguan Securities indicates that the second quarter will pose performance pressure tests for the liquor industry, with internal performance showing divergence. Currently, it is still the off-season for liquor consumption, and attention should be paid to the demand recovery in the second half of the year under a lower base [1] - Huaxin Securities notes that the liquor industry is undergoing a destocking cycle, facing multiple pressures from pricing, demand, and policy. Liquor companies are actively taking self-rescue actions regarding channels, organization, and sales [1] Group 2 - Moutai's pricing has stabilized, and the performance expectations for Q2 have been largely released. Coupled with short-term policy expectations, the sector's cost-performance ratio continues to show value [1] - It is recommended to focus on cyclical stocks and high-dividend leaders within the liquor sector [1]