Core Viewpoint - The price of certain white liquor products in the Southwest region has seen a rebound during the Dragon Boat Festival, but is expected to decline due to the upcoming "618" shopping festival and ongoing "billion-dollar subsidies" [2][9]. Price Trends - The average market price of Feitian Moutai (53 degrees/500ml) rose to 2606.8 RMB per bottle on May 31, up 20 RMB from 2586.8 RMB on April 31 [3]. - The average market price of the eighth generation Wuliangye (52 degrees/500ml) increased to 997.69 RMB per bottle, compared to 994.35 RMB on April 31 [3]. - The average price of Guojiao 1573 (52 degrees/500ml) also experienced an increase [3]. Inventory Levels - The fluctuation in white liquor prices is closely related to inventory levels, with recent reports indicating a reduction in high inventory situations for several brands [3][4]. - Wuliangye reported that some terminal inventories are running at zero, while Luzhou Laojiao stated that their inventory situation is currently safe and controllable [4]. Market Dynamics - The overall sales of premium liquor are slowing down, with a notable decline in demand for business and corporate group purchases [7]. - Despite the holiday season, the overall sales performance remains subdued, with many companies adjusting their revenue growth targets to align with macroeconomic indicators [7][8]. E-commerce Impact - The upcoming "618" e-commerce festival is expected to exert further pressure on retail prices, despite a slight price increase for high-end liquors during the Dragon Boat Festival [9]. - Analysts predict that while online sales may see growth during the "618" event, profit margins will be squeezed due to price reductions and high inventory levels among offline distributors [9].

Group 1 - The core viewpoint of the articles indicates that the prices of certain liquor products in the southwestern region of China have rebounded during the Dragon Boat Festival, with notable increases in products like Feitian Moutai and Qinghua Lang [1][2] - The price increase is attributed to the reduction of inventory levels and the implementation of quantity control measures by liquor companies [1][3] - Specific data shows that the average market price of Feitian Moutai rose to 2606.8 yuan per bottle as of May 31, up from 2586.8 yuan on April 30, marking a 0.77% increase [2] Group 2 - The inventory situation for major liquor brands has improved, with Wuliangye reporting "zero inventory" at some terminals and Luzhou Laojiao indicating that their inventory management is currently safe and controllable [1][3] - The sales performance of Wuliangye's products has been stable, with online sales increasing by 30% year-on-year, while sales on platforms like JD and Tmall grew by 21% [2][3] - Despite the overall price recovery, some products like Mengzhilun M6+ experienced a price decline, with its average market price dropping to 705.7 yuan per bottle from 714.25 yuan [4][5] Group 3 - The overall demand for liquor is under pressure, leading to a slowdown in sales, particularly in the business and corporate group purchase segments [7] - Companies are adjusting their revenue growth targets in response to market conditions, with Moutai aiming for a 9% revenue growth by 2025, while Wuliangye and Luzhou Laojiao are aligning their targets with macroeconomic indicators [7][8] - Many liquor companies are focusing on the wedding market, with initiatives like "Red Flower Lang's Romantic Wedding Tour" and promotional events to attract potential customers [8]