Core Insights - The white liquor industry is undergoing a significant adjustment, shifting from traditional consumption patterns dominated by government and business to a new model that emphasizes personal enjoyment and self-satisfaction [2][3] - Shanxi Fenjiu is one of the few companies maintaining growth, reporting a revenue of 32.92 billion yuan, a 5% increase year-on-year, and a net profit of 11.41 billion yuan, up 0.5% [2] - The company is adapting its strategy to focus on both traditional and younger consumer bases, as well as international markets, to capture the emerging "self-enjoyment" consumption trend [3] Industry Trends - The white liquor market is expected to coexist with traditional and modern consumption patterns, including social and personal enjoyment, as well as online and offline sales [3] - The introduction of new products aimed at younger consumers, such as the "Fenxiang Youth 28-degree" series, reflects a shift towards lower alcohol content and diverse flavors to attract different demographics [3] - The marketing approach is evolving, with a focus on consumer engagement rather than traditional promotional methods, as evidenced by the popularity of user-generated content and nicknames for products [4] Strategic Adjustments - Shanxi Fenjiu is implementing a national expansion strategy, targeting 12 core markets and 5 opportunity markets, while also exploring potential in 10 low-alcohol markets [3] - The company recognizes the need to adapt to changing consumer preferences and is committed to re-evaluating its market approach and product offerings [3] - Other major players in the industry, such as Kweichow Moutai, are also shifting towards market-oriented strategies, emphasizing consumer-centric marketing and digital integration [5]