Huachuang Securities research report states that attention should be paid to the bottom catalysts of liquor and the selection of consumer goods industry trends. The financial reports of liquor are accelerating clearance, and leading liquor brands and other traditional consumption are entering a bottom accumulation period, with subsequent peak season catalysts expected to drive valuation recovery. The selection of consumer goods industry trends shows good performance in snacks, beverages, and yellow wine, while traditional sectors such as beer and dairy have begun to improve their ROE. The catering supply chain is still at the bottom due to demand impact