Yanghe Shareholding: The liquor industry will face cyclical adjustments, but long-term value will not change with changes in the environment.

Yanghe Group stated during institutional research that the liquor industry has super resilience and long cyclical characteristics, and as a consumer product, its essence has not changed and cannot be replaced in the lives of the Chinese people. The liquor industry will face cyclical adjustments, but its long-term value will not change with environmental changes. Based on current environmental pressures and its own situation, the company is actively helping distributors reduce pressure. In February of this year, it controlled the amount and stabilized the price of M6+ and controlled the inventory of Hai Zhi Lan in the province; at the same time, it actively promoted sales to reduce inventory, optimized price policies, strengthened the cultivation and transformation of core consumer groups, and focused on the operation of core products and core markets.