Judging from the sector, liquor stocks continued the trend of the previous day, the entire sector was almost red across the board, Wuliangye (000858.SZ) hit the highest level of 163.65 yuan/share , Also refresh the historical stock price record.
Data from the China Wine Industry Association show that in May, the pressure of the domestic epidemic situation has gradually reduced, and policies to stimulate the economy and stimulate consumption have been introduced in many places, together with partial supplementary consumption. The liquor industry has also ushered in a small upsurge in consumption. At the same time, after experiencing low expectations, the liquor industry ushered in a round of rebound. In addition, the high price in the low season and the volume in the high season have always been the “unspoken rules” of the liquor industry. Layers of superimposing factors make the liquor off-season uncharacteristically and truly achieve “off-season is not off-season”.
Everbright Securities’ research report said that since the second quarter of 2020, major scenes such as ready-to-drink consumption in the liquor industry, business banquets and resident banquets have been successively restored. Afterwards, the liquor terminal sales and distributor destocking process accelerated significantly. Industry high-frequency data shows that the output of the liquor industry in March and April 2020 decreased slightly by 6.5% and 2.4% year-on-year (compared with the same period of the previous year), which was a significant decrease from the overall 16.9% decline from January to February 2020. improve. Thanks to the brand power advantage of high-end liquor and the financial strength of distributors, the progress of high-end liquor recovery in the first quarter was relatively less affected by the epidemic.