Ten o'clock news report | Valuation at historical lows, institutions see potential in bottom-tier baijiu investments.

CITIC Securities' research report on March 2 pointed out that the price of Feitian Moutai after the Spring Festival continued to be strong, with core support coming from pre-holiday quota sales being sold out, healthy channel inventory, and direct sales channel price offerings. Currently, the valuation of the baijiu sector is at a historical low, with strong bottom configuration value. Shengang Securities also believes that Moutai and Wuliangye's performance during the Spring Festival exceeded expectations, which is expected to boost channel and investor confidence, and subsequent indicators such as channel inventory and price may catalyze the sector's market. Prominent investor Lin Yuan also emphasized recently that he would not sell Moutai stock. He also directly presented hard data: the average valuation of global top fast-moving consumer goods (such as Coca-Cola, tobacco giants, and luxury goods groups) is 37 times. The core of such businesses is addiction and ...