贵州茅台：当前飞天茅台酒渠道存销比处于良性水平

Core Viewpoint - Guizhou Moutai has established a scientific distribution system driven by terminal sales since April, leading to a healthy inventory-sales ratio for its flagship product, Feitian Moutai, while facing challenges in the series liquor segment [2] Group 1: Moutai Liquor Performance - The company has achieved a scientific and precise distribution of its products, resulting in a good inventory-sales ratio for Feitian Moutai [2] - Other Moutai liquor products are currently at a relatively reasonable inventory-sales level [2] Group 2: Series Liquor Challenges - The series liquor segment is experiencing certain pressures in the channel [2] - Moutai 1935 has a relatively healthy inventory-sales ratio due to previous market policies, while other series liquor products are seeing a decline in their inventory-sales ratios [2] - The company plans to continue implementing a series of market policies to support and boost sales at the consumer end [2]