According to the CITIC Construction Investment Securities Research Report, Maotai's wholesale prices fell back on short-term suppressing sector performance this week. The current food and beverage valuation is relatively low in history. The bottom logic of high-quality assets such as liquor is clear. Popular products focus on three main lines with structural opportunities to segment, and continue to recommend liquor and Volkswagen products with segmentation logic. It is expected that the mass product segment will continue to outperform liquor. In terms of liquor, sales in the industry continue to decline. In terms of popular products, grasp the three main lines of marginal improvement of the catering chain supply chain and supermarket customization, healthy and functional high boom growth, and cost cycle optimization.

According to the CITIC Construction Investment Securities Research Report, Maotai's wholesale prices fell back on short-term suppressing sector performance this week. The current food and beverage valuation is relatively low in history. The bottom logic of high-quality assets such as liquor is clear. Popular products focus on three main lines with structural opportunities to segment, and continue to recommend liquor and Volkswagen products with segmentation logic. It is expected that the mass product segment will continue to outperform liquor. In terms of liquor, sales in the industry continue to decline. In terms of popular products, grasp the three main lines of marginal improvement of the catering chain supply chain and supermarket customization, healthy and functional high boom growth, and cost cycle optimization.