Group 1 - The core viewpoint of the report is that Haitong International has given Gujing Gongjiu (000596.SZ) an "outperform" rating with a target price of 191 CNY, reflecting confidence in the company's performance and market position [1] - The report highlights that product performance has shown volume growth despite price declines, indicating resilience in core markets [1] - The company's profitability remains stable, with cash flow growth outpacing revenue growth, suggesting strong financial health [1] - Gujing Gongjiu is focusing on younger product lines in 2025 to strengthen its competitive advantage in its primary market [1]