白酒指数持续低迷 古井贡酒本周再跌6.74%丨酒市周报

Core Viewpoint - The liquor industry is currently facing a challenging period, with many companies' stock prices entering a bottom range, as indicated by a 1.7% decline in the Wind liquor index this week and a cumulative drop of over 5% since December [2][4]. Company Summary - Gujing Gongjiu, known as the "King of Huijiu," experienced a significant stock price drop of 6.74% this week, following a previous decline of 6.2%, raising concerns about its ability to recover first in the market [2][4]. - The stock price of Gujing Gongjiu has fallen over 12% in December alone, ranking it second to last among all liquor companies, only ahead of *ST Yanshi, which faces delisting risks [6][7]. - The company is facing challenges such as long-term price inversion of its core product, slow national expansion, and a strategic adjustment that has led to a slowdown in revenue growth [7]. Industry Summary - The liquor industry is under pressure from fundamental, pricing, and market expectation factors, leading to a continued search for a bottom [4]. - The recent central economic work conference emphasized the importance of domestic demand, which may improve the return on equity (ROE) for companies in the medium term, potentially leading to increased spending and improved income expectations for residents [6]. - The beer sector remains stable, with some companies like Hong Kong Shengli Beer and *ST Lanhua seeing stock price increases, while the yellow wine sector shows mixed performance [6].