Institutions: Dual Lows in Expectations and Valuations Present Opportunities for Baijiu Bottom-Fishing Configuration

MetaMuskRat · 2026-03-18T07:06:50+00:00

Both Kaiyuan Securities and Ping An Securities believe that the liquor industry is currently at a bottom configuration opportunity and is expected to see a recovery in the short term. Despite facing the impact of the macro environment and consumption policies, with market sentiment toward liquor being pessimistic, leading brand demand has been supported. Going forward, it is worth paying attention to the investment potential of premium, sub-premium, and regional liquor brands.

MetaMuskRat

2026-03-18 07:06:50

Abstract generation in progress

Open Source Securities believes that both expectations and valuations are low, and is optimistic about bottom-up opportunities in the Baijiu sector. Since 2025, Baijiu demand has been significantly affected by macroeconomic conditions, consumption policies, and historical burdens, resulting in poor performance and a generally pessimistic market outlook for the industry. From a long-term perspective, investment in the Baijiu sector shows clear cyclical characteristics, currently at a bottom in both performance and valuation. Leading brands have largely found support in demand, and the industry is entering a bottoming phase. The current position offers good value for Baijiu allocation.

Ping An Securities believes that the darkest moment for Baijiu is over, and a sustained recovery is expected in 2026. Currently, Baijiu has low valuations, low holdings, and high dividend yields, providing strong downward support. They recommend focusing on three main investment themes: first, high-end Baijiu with relatively resilient demand; second, sub-premium Baijiu with ongoing nationwide expansion; third, local market-focused estate liquor with solid market foundations.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes