Capital, Earnings & M&A
Listed Companies' Low-End Liquor Declines Across the Board, Industry Foundation Enters 'Slaughter' Mode
After Moutai and Wuliangye stabilized, the 'rosy' annual reports of listed companies were seen as further evidence of industry recovery. However, after breaking down and categorizing high-end and low-end liquor from multiple listed companies, Tangjiu Express found that high-end liquor grew impressively while low-end liquor declined broadly. Despite exceptions like Wuliangye and Niulanshan, industry insiders believe the industry's foundation has entered a 'slaughter' mode.
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