Core Viewpoint - The liquor industry is entering a new adjustment cycle, with changing consumer trends and a focus on quality over quantity, as highlighted by the performance of major companies like Luzhou Laojiao [4][5]. Group 1: Company Strategy and Goals - Luzhou Laojiao plans to expand its market presence significantly, aiming to reach 1 million terminals in the next five years, up from the current 50,000 [2][10]. - The company has successfully developed a 28-degree version of its flagship product, Guojiao 1573, which will be launched in the market at an appropriate time [2][7]. - Luzhou Laojiao emphasizes the importance of brand building and consumer experience, particularly in the context of e-commerce and instant retail [9][10]. Group 2: Industry Trends and Performance - The white liquor industry has seen a 1.8% year-on-year decline in production among large-scale enterprises, while sales revenue increased by 5.3% to 796.4 billion yuan, and total profit rose by 7.76% to 250.9 billion yuan in 2024 [4]. - Consumer preferences are shifting towards quality and personalized experiences, with younger demographics favoring lower-alcohol and diverse products [5][6]. - The market is witnessing a decline in government consumption, while personal consumption scenarios like weddings and self-drinking are growing steadily [5][6]. Group 3: Market Confidence and Adaptation - Luzhou Laojiao's chairman, Liu Miao, expressed confidence in the company's ability to navigate the current industry adjustments, citing improved market inventory and stable pricing as key factors [7][8]. - The company is focusing on product innovation, with successful sales of its 38-degree Guojiao 1573 and plans for further development of lower-alcohol products [7][8]. - Luzhou Laojiao is enhancing its digital marketing strategies, leading to a more efficient allocation of sales expenses and a stronger online-offline integration [7][8].