Bei Jing Shang Bao·2025-12-10 09:23Core Viewpoint - The liquor sector shows resilience with a slight increase in stock prices, while the overall market experiences a minor decline, indicating a potential recovery in demand and performance for leading companies in the industry [1] Industry Summary - The Shanghai Composite Index closed at 3900.50 points, down 0.23%, while the liquor sector index closed at 2228.24 points, up 0.78% [1] - Among the liquor stocks, 17 companies saw price increases, with Kweichow Moutai closing at 1402.80 CNY per share, up 0.13% [1] - Other notable stock performances include Wuliangye at 111.62 CNY (up 0.67%), Shanxi Fenjiu at 179.81 CNY (up 0.30%), Luzhou Laojiao at 122.62 CNY (up 0.41%), and Yanghe at 62.98 CNY (up 1.43%) [1] Company Summary - CITIC Securities predicts that with economic data bottoming out and stimulus policies intensifying, the second quarter of 2026 may see a stabilization and recovery in sales and performance for leading liquor companies [1] - The industry is experiencing increased differentiation, with leading companies strengthening their advantages as smaller firms exit the market; over 100 regulated liquor companies have withdrawn from the market in the first half of 2025 [1] - Leading enterprises are leveraging their financial strength and supply chain control to innovate in channels and products, reinforcing a "stronger gets stronger" dynamic that will enhance their long-term competitiveness [1]