Group 1 - The implementation of the "Regulations on Practicing Thrift and Opposing Waste" has led to a continuous reduction in the demand for liquor from government sectors, negatively impacting both sentiment and consumption in the liquor sector [1] - Wuliangye (000858) reported good growth in the banquet market and bottle opening rates in the first half of the year, adapting its eighth generation product to market rhythms and enhancing terminal control capabilities through direct distribution in 20 key cities [1] - Luzhou Laojiao (000568) is focusing on expanding into lower-tier markets and accelerating the development of mid- and low-alcohol innovative beverages, with a successful R&D of 28-degree Guojiao 1573 ready for market launch [1] - Jiugui Liquor (000799) is implementing a differentiated product strategy to meet diverse market demands, emphasizing cost-effectiveness through the launch of low-end, low-alcohol, and small-sized products [1] - The overall valuation of the liquor sector is low, with many liquor companies engaging in share buybacks or increases in holdings, and dividend payouts are continuously increasing, indicating potential for capital inflow as domestic demand policies are released [1] Group 2 - The Food and Beverage ETF (515170) tracks the CSI segmented food and beverage industry theme index, focusing on high-barrier and resilient sectors such as liquor, beverages, dairy products, and seasoning [2] - The top ten constituent stocks of the ETF include major liquor brands like Moutai, Wuliangye, Luzhou Laojiao, and Fenjiu, providing investors with a convenient tool for exposure to core assets in the "food and beverage" sector [2] - Compared to the high minimum investment thresholds of individual constituent stocks, the Food and Beverage ETF offers a more accessible investment option for smaller capital [2]