中信证券：加速调整筑底 看好白酒板块底部配置机会

Core Viewpoint - The report from CITIC Securities indicates that the second half of the year may see the steepest decline in performance for most liquor companies, influenced by the recovery of consumer scenarios, adjustments by leading liquor enterprises, and the status of channel inventory prices [1] Group 1: Industry Performance - The liquor sector has significantly underperformed compared to the HS300 index and other core indices this year [1] - The valuation of the liquor sector is currently at a bottom range not seen in over three years, suggesting a potential for rebound [1] Group 2: Future Outlook - There is a clear trend of gradual recovery in demand, which supports the view of potential bottom-fishing opportunities in the liquor industry [1]