Summary
[CITIC Construction Investment: Moutai in tight demand for liquor has entered the value range]CITIC Construction said on August 20 that with the recent stock price adjustment, liquor has entered the value range. The 21-year valuation of Moutai, Wuliangye, and Luzhou Laojiao is only 36- 40X, 29X-34X in 22 years, there will be significant gains when considering the valuation switch in the latter half of the year. From the channel tracking point of view, the Mid-Autumn Festival stocking has not yet started. Except for some areas where the epidemic is more severe, dealers are still optimistic about the Mid-Autumn Festival. The current channel inventory is generally low, the approval price is strong, the demand for Moutai is tight, the channel is basically out of inventory, Wuliangye and Guojiao are selling well, and the inventory is maintained for about half a month. (Securities Times)
China SecuritiesIt was stated on August 20 that with the recent stock price adjustment, liquor has entered the value range, Moutai,Wuliangye、Luzhou LaojiaoThe valuation in 21 years is only 36-40X, and in 22 years it is 29X-34X. Considering the valuation switch in the latter half of the year, there will be significant gains. From the channel tracking point of view, the Mid-Autumn Festival stocking has not yet started. Except for some areas where the epidemic is more severe, dealers are still optimistic about the Mid-Autumn Festival. The current channel inventory is generally low, the approval performance is strong, the demand for Moutai is tight, and the channels are basically out of inventory.Wuliangye, Guojiao sells well, and the inventory is maintained for about half a month.
(Source: Securities Times)
.