Gelonghui, Feb. 2 | Orient Securities Research Report indicates that from February 5, the factory price of the eighth-generation Wuliangye (000858.SZ) core single product will be raised from 969 yuan/bottle to 1,019 yuan/bottle, increasing the price by 50 yuan, an increase of 5%, leading the factory price of major products with strong flavors into the 1,000 yuan era. Previously, Feitian Moutai had taken the lead in raising factory prices to open up room for price increases for high-end liquor. This time, Wuliangye's price increase policy is steady, further clarifying the price increase trend for high-end liquor. In the short term, the window before the Spring Festival price increase will increase the willingness of dealers to pay and purchase goods, and seize channel resources during the peak season. Currently, favorable macroeconomic policies are frequent. It is expected that the Spring Festival in '24 will release part of the backlog of demand for gifts and banquets in scenes such as last year's Mid-Autumn Festival. The company's core product, Pu Wu, is representative of the strong fragrance at a price of 1,000 yuan, and there is still strong demand in the banquet and gift scene. Combining price increases to enhance end consumers' perception of the brand's high value power, as well as channel and terminal demands for high turnover, it is expected that Wuliangye can be expected to sell well during the Spring Festival this year, and it is expected to usher in a good start. Maintain a buy rating.