Haitong Securities research reports point out that Anhui Gujing Distillery (000596.SZ) maintains sustainable growth momentum, with strong operational resilience. In the third quarter of 2024, the company's revenue grew steadily by +13.4% to 5.263 billion yuan, maintaining a steady growth rate among peers. We believe it may benefit from the strong performance of products such as Gu 7, Gu 8, and Gu 16. The company continues to strengthen its presence in the domestic market, with resilient revenue from base markets; and is actively expanding nationwide, with provincial markets driving channel development in a positive manner. Based on comparable company valuations, the company is given a 20-25 times P/E ratio for 2024, corresponding to a reasonable value range of 217.84-272.30 yuan, maintaining an "outperform the market" rating.