Core Viewpoint - The article highlights the ongoing issue of "special supply liquor" being sold in live streaming sessions on various platforms, despite previous actions taken to shut down related channels and remove products [1][2]. Group 1: Incidents of Special Supply Liquor Sales - On January 14, a report was published regarding the sale of white liquor labeled as "internal channels" and "Beijing office liquor" in live streaming sessions [1]. - Following the report, the involved platforms took action by closing related live streaming sessions and removing most of the products [1]. - However, investigations revealed that many platforms continued to promote and sell "special supply liquor" [1]. Group 2: Specific Cases of Promotion - On January 24, a live stream featured a liquor called "Pingong Wang," claimed to be produced by Zou Kailiang, but without proper labeling, and was described as exclusive to a specific supply department established for high-ranking officials [1]. - On January 28, the same live stream promoted another liquor named "Jingmao," asserting it was tailored for high-end consumers in central Beijing, with a specific identification number linked to a particular group [1]. - Another live stream on January 28 showcased a red-packaged liquor called "Jingshu," suggesting it was customized for individuals in specific uniforms and was associated with a significant national event [2]. Group 3: Platform Responses - After the investigation, the platforms were informed about the ongoing violations, and they stated they would handle the situation according to legal regulations [2]. - The article indicates that further monitoring of the situation will continue [2].

Group 1 - The number of year-end banquets (尾牙宴) in Fujian is significantly decreasing, with many hotels reporting no bookings at all [2][5] - The scale and standards of these banquets are shrinking, with many companies opting not to hold them or reducing their scale and specifications [4][5] - The impact of the "limit on alcohol" policy has exacerbated the situation, leading to a reported 50% reduction in corporate year-end events [2][5] Group 2 - There is a notable shift in the types of alcoholic beverages being purchased for these events, with a preference for lower-cost options and an increase in the popularity of craft beers and low-alcohol beverages [6][8] - Companies are increasingly focusing on cost-effectiveness, with many opting for cheaper wines and spirits, and a significant drop in the procurement of mid to high-end products [6][9] - The changing preferences reflect a broader trend where companies prioritize practicality over extravagance, favoring a more relaxed dining experience [9]

As filed with the U.S. Securities and Exchange Commission on January 26, 2026. Registration No. 333- FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SWOL Holdings Inc. (Exact name of registrant as specified in its charter) Nevada 2808 33-3027686 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 6538 Collins Ave ...

Group 1: Chinese Stocks Overview - Diageo, Regencell Bioscience, and UP Fintech are highlighted as key Chinese stocks to monitor, based on their high trading volume recently [2] - Chinese stocks represent equity securities from companies incorporated in or deriving significant revenue from mainland China, trading on various exchanges [2] - Investing in Chinese stocks offers direct exposure to the Chinese economy but involves specific risks such as regulatory intervention and market volatility [2] Group 2: Diageo (DEO) - Diageo plc is engaged in the production, marketing, and sale of a wide range of alcoholic beverages, including scotch, gin, vodka, rum, and beer [3] - The company also offers various types of whiskies and non-alcoholic products, catering to diverse consumer preferences [3] Group 3: Regencell Bioscience (RGC) - Regencell Bioscience Holdings Limited focuses on Traditional Chinese Medicine (TCM) for treating neurocognitive disorders, particularly ADHD and autism spectrum disorder [4] Group 4: UP Fintech (TIGR) - UP Fintech Holding Limited provides online brokerage services aimed at Chinese investors, facilitating trading in stocks, options, and other financial instruments [4] - The company offers additional services such as investor education and community engagement through its platform [4]

Core Viewpoint - Brown-Forman Corporation is facing challenges with declining earnings expectations and stock performance, leading to a cautious outlook from analysts [2][4][5]. Financial Performance - The company is expected to report Q3 2026 earnings of $0.48 per share, a decrease of 15.8% from $0.57 per share in the same quarter last year [2]. - For fiscal 2026, analysts anticipate an EPS of $1.67, reflecting a 9.2% decline from $1.84 in fiscal 2025, but a projected increase to $1.75 in fiscal 2027, indicating a year-over-year growth of nearly 4.8% [3]. Stock Performance - Brown-Forman's stock has declined by 17.1% over the past 52 weeks, underperforming the S&P 500 Index, which rose by 13.7%, and the State Street Consumer Staples Select Sector SPDR ETF, which returned 6.2% [4]. Analyst Ratings - The consensus opinion among analysts is skeptical, with a "Hold" rating overall. Out of 17 analysts, three recommend a "Strong Buy," nine advise a "Hold," one suggests a "Moderate Sell," and four recommend a "Strong Sell" [6]. - The average analyst price target for Brown-Forman is $30.49, suggesting an upside potential of 8.9% from current levels [6]. Recent Developments - On January 16, the stock closed down more than 3% following a downgrade by BNP Paribas analyst Kevin Grundy from "Neutral" to "Underperform," with a revised price target of $24, down from $31, due to structural headwinds in the alcohol industry [5].

Core Insights - The article highlights a critical contradiction in the wine e-commerce industry: while front-end marketing can drive exponential growth, back-end warehousing and order fulfillment often hinder customer experience and limit scalability [2][4]. Pain Points - Quality Storage Issues: Limited home storage conditions and uncontrolled temperature and humidity in ordinary warehouses lead to the loss of product value during storage, particularly for temperature-sensitive wines [5]. - Operational Efficiency Challenges: Store owners juggle multiple roles, resulting in significant time spent on logistics tasks, which detracts from marketing and customer service efforts [5]. - Scalability Constraints: Sudden spikes in orders, such as during live broadcasts, can overwhelm existing staff and facilities, leading to shipping delays and damage to brand reputation [6]. - Cost Control Difficulties: Renting small warehouses incurs wasted space and management costs, while hiring dedicated staff results in fixed labor costs that are hard to adjust during off-peak seasons [6]. Proposed Solutions - The article suggests a shift towards integrated "professional storage + drop shipping" services as a solution to these challenges [7]. - An ideal warehousing partner should provide a professional and secure storage environment, ensuring optimal temperature and humidity control, along with robust security measures [9]. - Efficient and precise order fulfillment capabilities are essential, allowing businesses to focus on growth rather than logistics [10]. Case Study Insights - A case study of a client illustrates the transformation from handling 10 orders daily to leveraging a temperature-controlled warehouse and drop shipping service, significantly enhancing operational efficiency [10]. - Key improvements include seamless integration with e-commerce platforms, standardized picking processes, customized packaging to reduce damage, and access to cost-effective logistics options [11]. - The client experienced a time savings of over 4 hours daily, improved cost structure, enhanced customer experience with faster shipping times, and the ability to handle over 800 orders in a single day without delays or errors [11]. Evaluation Criteria for Warehousing Partners - Companies are advised to focus on the capabilities of the warehouse management system (WMS) and the overall order processing workflow rather than just the physical space [12]. - Instead of merely comparing rental prices, businesses should seek customized warehousing and shipping solutions tailored to their specific operational needs [12]. - Selecting partners who understand industry characteristics and can provide reliable support for business growth is crucial [12].

Core Insights - The performance of the Southeastern Small-Cap Fund has been mixed, with the underlying developments of holdings being better than stock price returns, particularly in a challenging market environment [2][3] - The fund's portfolio has a lower percentage of big winners compared to the Russell 2000, with only 15% of its holdings up an average of 30% compared to over 35% of the index's holdings up 70%+ [3] - The fund has maintained a strong position in the mid-range performance category, outperforming the Russell 2000 in that segment [4] - The fund's exposure to decliners was limited, with only 10% of the portfolio in this category, resulting in lower average losses compared to the index [5] Performance Analysis - The fund's average performance in the -20% to +20% return bucket was better than the Russell 2000's 0% return, with key holdings like White Mountains, CNX, and Rayonier contributing positively [4] - The fund's cash position and stable investments like Kodak initially provided safety but later became performance headwinds [6] - The fund's leverage rules have been effective in avoiding pitfalls, and adjustments to the overweight rule have been made to enhance performance [7][8] Notable Contributors - Beclé, a tequila and whiskey manufacturer, was a significant contributor due to its undervaluation and strong market position [9] - GCI Liberty, a communications company in Alaska, benefited from its unique market position and insider support from John Malone [10] - Graham Holdings showed strong performance due to growth in its education and healthcare segments [11] - Mattel has positioned itself well with strong brand power and a robust balance sheet, leading to significant stock repurchases [12] - Oscar Health experienced above-market growth but was exited due to emerging industry risks [14] Notable Detractors - Boston Beer faced challenges due to declining volumes in its major brands, although management is actively addressing these issues [15] - Clearwater Paper struggled with a weak market for solid bleached sulfate paperboard, but management is focusing on share repurchases [16] - Park Hotels & Resorts was impacted by macroeconomic concerns affecting leisure travel, leading to a decision to exit the position [18] Portfolio Activity - The fund made seven new purchases during the year, including GCI Liberty and Beclé, while exiting eight positions, including Kodak and Oscar Health [20][19] Outlook - The fund anticipates continued engagement through research perspectives and podcasts, focusing on quality investments amid market volatility [21] - The fund's strategy emphasizes owning resilient, free cash flow-generating assets to navigate market fluctuations effectively [22]

Core Thesis - Diageo plc is viewed positively by analysts due to its strong brand portfolio, strategic leadership under CEO Dave Lewis, and potential for transformation despite challenges in the alcohol industry [1][5][6] Company Overview - Diageo plc operates in the production, marketing, and distribution of alcoholic beverages across multiple regions including North America, Europe, Asia Pacific, Latin America, and Africa [2] - The company has over 200 globally recognized brands such as Johnnie Walker, Smirnoff, and Guinness [3] Financial Performance - Revenue increased from $15.2 billion in 2017 to $20.5 billion in 2022, but has stagnated at $20.24 billion in 2025 [3] - The stock has declined approximately 37% this year and is 60% below its peak in 2022 [3] Leadership and Strategy - Dave Lewis, the new CEO, brings 27 years of experience and aims to reinvigorate Diageo through cost-cutting and focusing on core growth areas [2][3] - The company is implementing cost-saving measures and strategic capital allocation, including the sale of its 65% stake in East African Breweries Limited for about $3 billion [4] Market Challenges - The primary challenge facing Diageo is the decline in per capita alcohol consumption, particularly in spirits, as consumers are drinking less [4] - Analysts expect continued rationalization of the brand portfolio and divestment of non-core assets to improve financial health [5] Investment Outlook - Diageo is considered an attractive entry point around $85, with a nearly 5% dividend yield and strong cash flow, presenting a favorable risk/reward scenario [5] - The company’s fundamentals and valuation remain compelling despite the broader challenges in the alcohol sector [6]

Company Overview - Rebel Bourbon has reintroduced Rebel Root Beer Whiskey, an innovative product that combines traditional bourbon with root beer flavors [1][2] - The whiskey is distilled in Bardstown, Kentucky, by Lux Row Distillers, maintaining a wheated mash bill that dates back to 1849 [6] - Luxco, the parent company, has been a significant player in the beverage alcohol industry since its founding in 1958, operating multiple distilleries and offering a diverse portfolio of brands [7] Product Details - Rebel Root Beer Whiskey is bottled at 70 proof (35% ABV) and is priced at a minimum suggested retail price of $19.99 for a 750mL bottle and $0.99 for a 50mL bottle [1][2] - The whiskey features a flavor profile that includes sassafras, vanilla, licorice, molasses, bourbon whiskey, caramel, and honey notes, culminating in a sweet and spicy finish [3] Marketing and Consumer Engagement - The brand manager, Philip Lux, emphasized the product's fun and rule-free nature, promoting its versatility for various consumption methods [4] - Marketing initiatives include merchandise giveaways and promotional events featuring "Shoot the Root" branding [4] Awards and Recognition - Rebel Bourbon has received multiple industry accolades, including Single Barrel American Whiskey of the Year for Rebel 10-Year Single Barrel at the 2025 Bartender Spirits Awards [6]

Fundsmith Equity Fund Performance - Fundsmith Equity Fund's T Class Accumulation shares returned 0.8% in 2025, underperforming the MSCI World Index which returned 12.8% [1] - Since inception, the fund has outperformed the index by 1.7% per annum [1] - Underperformance in 2025 attributed to index concentration, growth of assets in Index Funds, and dollar weakness [1] Brown-Forman Corporation Analysis - Brown-Forman Corporation (NYSE:BF-B) experienced a one-month return of -12.46% and a 52-week loss of 22.71% [2] - As of January 12, 2026, Brown-Forman's stock closed at $26.62 with a market capitalization of $12.33 billion [2] - Fundsmith highlighted that Brown-Forman and PepsiCo's snack business are affected by reduced appetites due to weight loss drugs and changing drinking habits among Generation Z [3] Hedge Fund Interest in Brown-Forman - Brown-Forman was held by 35 hedge fund portfolios at the end of Q3 2025, a decrease from 37 in the previous quarter [4] - While Brown-Forman is recognized for its investment potential, certain AI stocks are considered to offer greater upside potential with less downside risk [4]