Huatai Securities: The liquor sector has bottomed out and improved, with promising prospects for bottom layout.

Huatai Securities research report believes that the valuation and sentiment of the liquor sector are currently low, with overall fundamentals stabilizing and the industry entering the peak season of Mid-Autumn Festival. At the same time, the government's focus on boosting domestic demand continues to increase, and consumption promotion policies are continuously being implemented, providing support for the sector. From an absolute return perspective, liquor companies are paying more attention to investor interests, with multiple companies announcing long-term dividend plans and mid-term dividend plans, making long-term investment value high in the current interest rate environment. Looking ahead, top liquor companies in this round of adjustment are focusing on long-term healthy development, with stabilized fundamentals and government support policies in place. The industry is gradually entering a phase of benign recovery, and it is recommended to invest in companies with strong fundamental leading positions at the bottom.