It is reported that domestic liquor industry tax mainly concentrated in the production sector, 1994 tax reform will be divided into liquor product tax consumption tax and value-added tax, liquor enterprises by the ex-factory Price Levy.
As for the reason for the recent drop in the liquor sector, it’s still the same old problems. First, there was a big increase in the middle of last year, but there was no reason for the first, second and third-line liquor speculation to rise. Until now, it’s difficult for the liquor merchants to join the industry, it seems to have not found to change the pattern, in fact, as long as we know the reasons for the decline, we can adjust the pattern of change opportunity.
Qingdi liquor believes that the core reason for the liquor adjustment is the long-term interest rate rise in US debt leading to core asset valuation pressure, not the fundamentals, liquor fundamentals remain strong.
For the Spring Festival as an example of the return of major wine enterprises in various industries to liquor investment to join to continue to maintain, investment during the spring festival to join more optimistic. High-grade wine moving sales in line with expectations or even slightly exceeded expectations, after the festival Maotai Wholesale Price is still strong, Wuliangye moving sales performance slightly better expectations. After the banquet, high-end liquor showed higher performance flexibility, real estate liquor sales stable. In 20Q1 lower base, this year Q1 wine enterprises will welcome bright red opening performance, adjusted valuation pressure release, cost-effective.