西南证券发布洋河股份研报：经营延续承压，静待需求复苏

Group 1 - The core viewpoint of the report indicates that Yanghe Distillery (002304.SZ) is expected to adjust its performance as it aims to reduce inventory by Q2 2025 [1] - The company's profitability is under significant pressure, with a decrease in contract liabilities observed on a quarter-over-quarter basis [1] - The dividend yield is considered attractive, with anticipation for a recovery in industry demand [1]