Core Viewpoint - The recent relaxation of the strict alcohol ban policy in China is seen as a significant development for the liquor industry, especially with the upcoming Mid-Autumn Festival and National Day, which are key consumption periods [1][2] Policy Changes and Market Response - Local governments are implementing consumption subsidies, such as Shaoxing's 178 million yuan initiative aimed at boosting banquet consumption, which directly targets the core white liquor consumption scene [1] - Various regions are adopting tailored policies, with provinces like Henan and Anhui allowing state-owned enterprise executives to resume normal dining activities, while Sichuan and Guizhou are enhancing support for local liquor enterprises [1][2] Market Conditions - Despite the policy adjustments, the white liquor market has not experienced the anticipated "V-shaped rebound," with some companies seeing slight sales increases compared to the low season in July and August [4] - The high-end liquor sector continues to face challenges, with price and sales discrepancies, as seen with Moutai's pricing pressures and declining profits for distributors [5] Structural Changes in the Industry - The relaxation of the alcohol ban is not a complete lifting of restrictions, as regulations still prohibit high-end liquor and cigarettes in official dining settings, indicating a cautious approach to policy changes [7] - The past three months of strict regulations have accelerated a structural shift in the market from being driven by government consumption to a focus on mass consumer spending, which may lead to healthier long-term growth for the industry [7] Strategic Recommendations - Companies are advised to adopt a cautiously optimistic approach, implementing reasonable promotional strategies and refined channel management to address pricing issues and restore market order [8] - The industry must respond to changing consumer demands by developing high-cost performance products for younger demographics and diversifying consumption scenarios, moving from reliance on policy to embracing consumer needs [9]

华声在线全媒体记者 龙思言 2025年初以来，飞天茅台批发价从2600元一路下探，引发热烈讨论。曾经一瓶难求的"液体黄金"，仿佛正逐步跌落神坛。 6月5日，记者走访长沙多家烟酒商行发现，飞天茅台在长沙价格也开始下跌。"不敢囤货，就怕亏""现在卖茅台只能赚个成本价"……不少烟酒店店主面对 茅台的降价叫苦不迭。 "不敢囤货""价格波动大"，烟酒行老板直呼：利润薄得像纸 "去年这时候，回收价还能到2200元，现在1950元收，量多再加20元。"在长沙马王堆附近的一家寄卖行，从事烟酒回收的蒋女士指着角落刚回收的一对 2017年份玫瑰金包装的飞天茅台说道，"囤货的都在抛，我们赚个几十元差价，还得担着跌价风险。" 距离不远的品搁烟酒店老板表示店里没有现货，"现在价格一天一个样，我们根本不敢囤货，只按照客户的需求从经销商那里调货，售价2680元一瓶，利 润薄得像纸"。 随后，记者走访多家烟酒店发现，飞天茅台的零售价高低不一，但均有下降，部分中小烟酒店选择"随行就市"。据开福区一位超市老板段女士透露："我 们的售价是2180元，拿货价差不多和售价持平，现在我们卖飞天茅台，确实没啥利润可以挣咯。" 6月5日12时，记者以消费者 ...