但斌：茅台的主力消费人群正在慢慢消失

Core Viewpoint - The chairman of Dongfang Hongyuan, Dan Bin, expressed respect for those still investing in the liquor industry, particularly in the context of the challenges faced over the past two years [1][3]. Group 1: Investment Sentiment - Dan Bin acknowledged the difficulties faced by investors in the liquor sector, stating that while others have thrived, those in liquor have struggled [1][3]. - He emphasized that investment does not have a clear right or wrong, showing appreciation for those who continue to fight in the liquor market [1][3]. Group 2: Consumer Trends - Dan Bin highlighted the importance of observing the consumption patterns of young people regarding liquor purchases [1][3]. - He noted that the main consumer demographic for Moutai is gradually disappearing, indicating a potential shift in market dynamics [1][3]. Group 3: Investment Philosophy - Dan Bin referenced a quote from investor Duan Yongping, expressing a willingness to trade Moutai for insights into Nvidia from five years ago, suggesting a shift in investment focus [1][3].