Core Viewpoint - The liquor sector, particularly the baijiu industry, is experiencing a market correction with valuations at relatively low historical levels, while market expectations remain weak [2] Group 1: Market Performance - On November 24, the Shanghai Composite Index closed at 3836.77 points, up 0.05% [2] - The baijiu sector closed at 2248.25 points, increasing by 0.17%, with 11 baijiu stocks rising [2] Group 2: Individual Stock Performance - Kweichow Moutai closed at 1452.00 CNY per share, down 1.00% [2] - Wuliangye closed at 118.52 CNY per share, down 0.97% [2] - Shanxi Fenjiu closed at 192.40 CNY per share, down 0.31% [2] - Luzhou Laojiao closed at 132.92 CNY per share, down 0.95% [2] - Yanghe Brewery closed at 66.50 CNY per share, down 0.67% [2] Group 3: Industry Insights - CITIC Securities noted that the baijiu industry is currently in a phase of bottoming out, with ongoing sales struggles [2] - Moutai is addressing e-commerce chaos to stabilize price expectations, supported by performance-driven strategies and strong brand influence [2] - The industry is exploring new marketing models while leveraging strong operational capabilities to enhance channel performance [2]