On October 21, in the morning session, the Shanghai Composite Index rose to 3910.13 points, an increase of 1.20%. The liquor sector closed at 2296.99 points at midday, up 0.83%. Among the stocks, 13 liquor companies experienced gains, with Luzhou Laojiao leading the sector with a rise of 1.25%.

In terms of individual stocks, Kweichow Moutai closed at CNY 1467.99 per share, up 0.69%; Wuliangye finished at CNY 121.11 per share, increasing by 0.54%; Shanxi Fenjiu closed at CNY 191.96 per share, rising by 0.20%; Luzhou Laojiao ended at CNY 134.82 per share, up 1.25%; and Yanghe Brewery closed at CNY 70.13 per share, down 0.07%.

According to a report from Caitong Securities, analyzing the adjustment rhythm of the liquor industry over two cycles, it is indicated that the current adjustment phase is nearing its end. It is anticipated that the recovery of household banquet scenarios will outpace that of business demands, and leading companies will continue to improve efficiency and increase market share.