Core Viewpoint - The performance of liquor stocks has significantly declined in the first half of the year, with many companies reporting revenue and profit drops due to multiple adverse factors affecting the industry [1][3]. Group 1: Overall Industry Performance - Out of 16 liquor companies that disclosed their performance forecasts, 11 reported a year-on-year decline in revenue, with several experiencing double-digit decreases [1]. - Among the 16 listed liquor companies, 8 reported losses in the first half of the year, while the remaining companies also saw significant profit declines [1]. - The overall trend indicates a collective downturn in the liquor sector's performance for the first half of the year [1]. Group 2: Specific Company Performance - Shunxin Agriculture expects a more than 50% decline in both net profit and net profit after deducting non-recurring gains and losses due to pressure on its liquor segment [6]. - Kweichow Moutai is one of the few companies maintaining growth, with plans to achieve a 9% increase in total revenue compared to the previous year [6]. - Water Well and Jiu Gui Jiu, both established liquor companies, reported double-digit revenue declines, with net profit expected to drop by 56.5% and 90%-93%, respectively [3][4]. Group 3: Segment Analysis - The wine sector is facing a comprehensive downturn, with most companies reporting losses, while only one company, CITIC Niyah, managed to achieve a small profit [7]. - The beer segment shows a split performance, with Yanjing Beer and Zhujiang Beer maintaining high growth rates, while other local brands face increased competition and losses [8]. - The yellow wine sector has seen some popularity, but companies like Jinfeng Wine still reported losses due to intense market competition [7].