Core Viewpoint - The Chinese wine industry is experiencing a significant decline in production, with a notable drop in output expected in 2025, indicating potential challenges for listed companies in this sector [1]. Group 1: Industry Overview - According to the National Bureau of Statistics, the wine production in China for May 2025 is projected to be 0.6 thousand kiloliters, representing a year-on-year decrease of 25% [1]. - Cumulatively, from January to May 2025, the total wine production in China is expected to reach 3.6 thousand kiloliters, reflecting a decline of 26.5% compared to the previous year [1]. Group 2: Listed Companies - The companies mentioned in the context of the Chinese wine industry include Zhangyu A (000869), Weilang Co., Ltd. (603779), Zhongpu Co., Ltd. (600084), ST Tongpu (600365), Xibu Chuangye (000557), and Huangtai Liquor (000995) [1].