Caitong's Research Reports indicate that Wuliangye Yibin (000858.SZ) has positioned 2024 as the year of marketing execution, facing deep adjustments in the Industry and successfully tackling five major battles: image enhancement, market share increase, market expansion, quality improvement, and profit enhancement. In terms of product systems, it will continuously optimize the 1+3 product system, maintaining a volume-price principle for the eighth generation of Wuliangye; clarifying the tactical product positioning for 1618/low alcohol, enhancing fuel with scanning red envelopes and banquet incentives to strengthen sales; launching 45/68-degree products to meet differentiated needs; releasing the classic Wuliangye vintage series to expand value space; and in the series, strengthening major products, with Wuliangchun’s scanning growth at +40% year-on-year and banquets at +50% year-on-year. Based on the company’s dividend plan, calculating with the minimum dividend rate of 70%, the corresponding current stock price indicates a dividend yield of over 4%, highlighting the characteristics of "stable growth + dividends" while maintaining a "Shareholding" rating.