Huachuang Securities Research Reports point out that Luzhou Laojiao (000568.SZ) has a solid foundation in the thousand yuan price range after many years of cultivation. During this new cycle, the management has maintained its determination, the strategy is pragmatic and flexible, and the market layout is relatively solid. After reducing speed and alleviating channel inventory pressure, it is expected to regain elasticity. Currently, the company valuation corresponds to only 14 times for 2024, with certain cost-effectiveness, and with the company’s mid-term dividend realization, a dividend yield of over 4% already provides high attractiveness, offering a sufficient safety buffer for long-term value investors. In summary, the EPS forecast for 2024-2026 is maintained at 9.16/9.54/10.77 yuan, the Target Price is maintained at 206 yuan, and the "strong buy" rating is maintained.