Core Viewpoint - The wine industry is experiencing a significant downturn, with major wine producers reporting a continued decline in performance due to economic fluctuations and changing consumer preferences [1] Industry Summary - Several wine companies have released half-year performance forecasts indicating ongoing industry-wide decline [1] - The industry has been in a prolonged downturn for several years, prompting a search for new avenues such as "popularization," personalization, and lower alcohol content [1] - The market weakness has also affected renowned wine regions like Bordeaux [1] Price Changes - In April and May, leading Bordeaux wineries announced 2024 vintage prices that generally decreased by over 20% compared to the previous year [1] - Specifically, the price of Château Lafite Rothschild (Lafite) for the 2024 vintage has dropped by 27.3% year-on-year [1] Consumer Preferences - Industry experts suggest that the lack of wine consumption among Chinese consumers is linked to the unsuitability of current wine products to local taste preferences [1] - There is a call within the industry for a "taste revolution" in domestic wine products to better align with consumer expectations [1]