Shanxi Securities research reports pointed out that Kweichow Moutai (600519.SH) achieved slightly better than expected results in the first half of 2024, with dividend plans boosting confidence. In the first half of the year, the company balanced quantity and price by strengthening channel control and precise delivery to successfully achieve its target, highlighting its leading value, and showcasing its strong performance certainty. Facing short-term market volatility since June, the company responded by controlling product supply and improving its market marketing structure, reflecting its sensitivity to market reactions and long-term considerations for brand value protection, with the aim of more "stable and healthy" sustainable development. In the long run, this not only helps stabilize consumers' and investors' confidence and expectations for Maotai's pricing, but also strengthens the company's leading position in the high-end baijiu market. At the same time, the increase in regular dividend rates has also boosted market confidence, safeguarding its long-term configuration value. Maintain a "buy-A" investment rating.