Group 1: Company Pricing and Sales - Wuliangye's "Pu Wu" retail price has dropped to 949 yuan per bottle, with a wholesale price of 860 yuan per bottle for bulk purchases, indicating a significant price reduction throughout the year [1] - The company is rumored to adjust the "Pu Wu" price to 900 yuan per bottle, but the official stance is that the factory price of 1019 yuan per bottle remains unchanged, with the price drop attributed to subsidy policies [1] - This marks the first price reduction for "Pu Wu" in nearly a decade, with the last decrease occurring during the industry adjustment period in 2014 [1] Group 2: Stock Market Performance - Wuliangye's stock price has been declining, closing at 110.88 yuan per share on December 9, down 2.11% [2] - The company's market capitalization has decreased from a historical peak of 1.34 trillion yuan in February 2021 to approximately 430.39 billion yuan, representing a loss of about 909.6 billion yuan or 67.9% [2] Group 3: Industry Trends - The overall performance of the liquor sector has been weak, with the liquor index down 15.09% this year, and only a few companies, such as Jin Hui Jiu and Lu Zhou Lao Jiao, showing positive growth [3] - Major liquor companies are experiencing significant stock price pressure, with Wuliangye's stock down 17.44% year-to-date [3] - The white liquor production in China has decreased by 11.5% year-on-year, with retail sales of tobacco and liquor products showing slower growth [4] Group 4: Financial Performance - Wuliangye's revenue has declined by 10.26% year-on-year, and net profit has decreased by 14.38% [4] - The third quarter of 2025 saw a sharp decline in Wuliangye's quarterly revenue by 52.66% and net profit by 65.62% [5] - The average inventory turnover days for the liquor industry reached 900 days, with over half of the distributors facing increased inventory issues [5]