Core Viewpoint - The meeting between Moutai Group and Wuliangye Group emphasizes the need for collaboration and resilience in response to the cyclical adjustments in the liquor industry [1] Group 1: Company Collaboration - Moutai Group's General Manager Wang Li and Wuliangye Group's Chairman Zeng Congqin discussed the importance of unity and cooperation to tackle current industry challenges [1] - Both companies agreed to enhance their regular communication and cooperation mechanisms for better collaboration at higher levels and broader scopes [1] Group 2: Industry Context - The liquor industry is currently experiencing a cyclical adjustment, necessitating a collective effort from leading companies to navigate the challenges [1]

Core Viewpoint - Luzhou Laojiao has decided to halt orders and shipments for its entire product line nationwide, aiming to clean up pricing, channels, and policies before the Dragon Boat Festival, ensuring consumer experience and protecting channel service providers' interests [1][2]. Group 1: Company Actions - The halt in shipments is a common practice in the liquor industry during off-peak seasons, but a full product line halt is rare for Luzhou Laojiao, indicating a strong commitment to systematic channel governance [2]. - This action is seen as a "shock therapy" to prevent low-price dumping, allowing time for channel inventory clearance and paving the way for a future price system restructuring [2]. - The timing of the halt before the peak consumption season reflects a strategic understanding of industry norms and serves as a strong signal of market confidence [2]. Group 2: Industry Context - Luzhou Laojiao's halt is part of a broader trend, with over ten liquor companies, including Wuliangye and Yanghe, implementing similar measures since 2025, indicating a collective adjustment in the industry [3]. - The recent performance downturn of liquor companies in the third quarter of last year highlights the need for this collective action [3]. - While short-term supply reduction may stabilize or increase product prices, long-term sustainability cannot rely solely on "halt and raise prices" strategies [3]. Group 3: Strategic Considerations - The industry is undergoing a transformation in consumption scenarios, with companies integrating liquor into various lifestyle brands and experiences to resonate with consumers on multiple levels [5]. - Product structure optimization is crucial for long-term development, requiring companies to diversify their offerings beyond single flagship products to meet diverse consumer needs [5]. - Strengthening the relationship between manufacturers and distributors is essential in the current market, where inventory management and price sensitivity are critical [5].