华泰证券：白酒板块筑底改善，底部布局可期

Core Viewpoint - The liquor sector is currently experiencing low valuations and sentiment, but the overall fundamentals are stabilizing as the Mid-Autumn Festival approaches, supported by government policies aimed at boosting domestic demand [1] Group 1: Market Conditions - The liquor industry's fundamentals are stabilizing, with the upcoming Mid-Autumn Festival expected to enhance sales [1] - Government focus on boosting domestic demand continues to rise, with consumption-promoting policies being implemented to support the sector [1] Group 2: Investment Opportunities - Companies in the liquor sector are increasingly prioritizing investor interests, with several firms announcing long-term and mid-term dividend plans [1] - Given the current interest rate environment, the long-term investment value of liquor companies is considered high [1] Group 3: Future Outlook - Leading liquor companies are focusing on long-term healthy development during this adjustment phase, with fundamentals showing signs of stabilization [1] - The combination of consumption-promoting policies and improving fundamentals indicates that the industry is gradually entering a phase of positive recovery, suggesting a strategic opportunity for bottom-fishing in strong fundamental leaders [1]