A recent channel survey indicates that China's national white liquor shipments during the Mid-Autumn and National Day holidays are expected to decline by 10-15% year-over-year compared to 2025, and by 30% compared to 2024, missing expectations due to economic constraints and weak demand for discretionary Mid-Autumn scenarios.
Despite a broad industry slowdown, premium white liquor brands like Moutai are outperforming, suggesting a flight to quality amid the downturn.
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