According to the smart finance and economics app, China Treasures Li Du (06979) is now up more than 4% and, as of press time, is up 4.35% to HKD 7.2, with a turnover of HKD 40.3295 million.

On the news front, UBS Securities recently downgraded the ratings of several baijiu stocks. In response, many liquor companies, including Wuliangye and Luzhou Laojiao, expressed their views. Wuliangye said that the company's product pricing was very firm and the current strategy is to control the volume and raise the price. In addition, The Guizhou Moutai Market Work Conference for the first half of 2024 was held on July 23rd at the Moutai Conference Center. The conference believes that the second half of the year is a critical period for overcoming the current industry downturn and a challenging period for achieving the 2024 target task.

Xiangcai Securities pointed out that the recent valuation adjustment of the baijiu sector has been significant, and the market's overall expectations are biased towards pessimism. The main concerns are the sustainability of the sector's high growth. However, in recent years, differentiation within the baijiu sector has intensified. Some high-quality companies have shown strong fundamental resilience. As mid-year results are gradually released, market expectations are expected to be revised, and it is recommended to pay attention to the valuation repair brought about by expected improvements. The baijiu sector focuses on the performance of consumption scenarios such as graduation banquets and teacher appreciation banquets, and continues to pay attention to the pricing trends of baijiu terminals. We remain bullish on high-end and regional leading brand.