Tang Hui, President of Shede Wine Industry: Chinese liquor has lost its normal characteristics as a consumer product, and the premium is unreasonable.

On March 18, 2026, during the annual meeting of the Yabuli China Entrepreneur Forum, at the "New Consumption Forum: Understanding Consumer Logic" session, Tang Hui, president of Shede Distillery Co., Ltd., shared his views. Regarding the pressure facing the liquor industry, Tang Hui stated that some people say it is the most difficult year in the past 20 years, although the industry is facing challenges, there are still opportunities. Firstly, there is the influence of the overall environment, with consumers downgrading their consumption habits, from previously drinking 1000 yuan bottles to now only drinking bottles priced at five or six hundred yuan; secondly, there is the cycle of the liquor industry, with industry production declining as advanced production capacity eliminates outdated production capacity, the issue is not a lack of liquor but a lack of good quality liquor; finally, there is the impact of policies, such as liquor restrictions, which also affect liquor consumption. He believes that Chinese liquor has deviated from its normal consumer product attributes, with the premium pricing being unreasonable, and in the future, it will return to its normal consumer product attributes. To overcome the industry's challenges, it is necessary to find more users and create more consumption scenarios.