五粮液：投资者会议-LNY 零售稳健，但 2026 年为过渡年份，将调整发货节奏以实现 2027 年良好开局；买入

26 March 2026 | 11:09PM HKT Equity Research Wuliangye Yibin (000858.SZ): Investor Meeting: Solid LNY retail, but '26 a transitional year with shipment pacing for a clean start in 2027; Buy We attended Wuliangye mgmt's investor meeting in Shenzhen on 26 March. The company will remain practical and rational emphasizing that 2026 will be a transitional year for the company and that it will remain agile and focus on supporting a wholesale price recovery, clean-up of channel inventory and shipment control throug ...