【大涨解读】白酒：茅台控量+政策催化密集，机构称行业底部配置价值凸显，看好修复行情

Core Viewpoint - The liquor sector is experiencing a partial rally, with notable gains in various companies, indicating a potential recovery in the market [1]. Group 1: Stock Performance - Zhongrui Co., Ltd. (002374.SZ) achieved a consecutive two-day increase, with a price of 4.04 and a rise of 10.08%, reaching a market cap of 4.38 billion [2]. - Huangtai Liquor Industry (000995.SZ) saw its stock hit the limit up, with a price of 13.50 and an increase of 10.02%, resulting in a market cap of 2.4 billion [2]. - Jiugui Liquor (000799.SZ) reported a price of 58.35, up by 4.68%, with a market cap of 18.96 billion [2]. - Jinhui Liquor (603919.SS) recorded a price of 20.42, increasing by 4.02%, with a market cap of 10.36 billion [2]. - Jinzongzi Liquor (600199.SS) had a price of 10.11, up by 3.91%, with a market cap of 6.65 billion [2]. Group 2: Industry Drivers - Guizhou Moutai announced a volume control policy, halting product distribution to dealers until January 1, 2026, and plans to significantly reduce non-standard product quotas in the medium to long term [3]. - The price of Feitian Moutai has been rising, with the highest price for loose bottles reaching 1580 yuan and original boxes exceeding 1600 yuan, marking a daily increase of 40-80 yuan [4]. - The Central Economic Work Conference emphasized fostering domestic demand and removing unreasonable restrictions in the consumption sector [5]. - Leading liquor companies are implementing supply-side control measures, with Wuliangye offering price concessions to stabilize terminal prices, while Yanghe and Shanxi Fenjiu have paused some product supplies to control volume and maintain prices [6]. Group 3: Institutional Insights - The liquor industry is in a challenging phase, with the China Securities White Liquor Index at a PE ratio of 18.85, close to a 10-year low, indicating a potential investment opportunity in leading companies [7]. - Moutai's clear volume and price control strategy aims to alleviate pressure on wholesale prices and focus on core products, while also enhancing channel profitability [7]. - In a weak demand environment, actions from leading liquor companies are crucial catalysts for market recovery, with inventory levels decreasing and consumer confidence improving [7].