Hao Hongfeng: SheDe, Jiuguijiu, and Jinzhongzi's rapidly declining performance is because they are too kind and too honest.

The chairman and president of Jiuxian Group, Hao Hongfeng, pointed out that this year is just the beginning of a deep adjustment in the liquor industry, and it is expected to take 3 to 5 years to complete the adjustment. "Many liquor companies have released their first quarter reports, with a decrease of 25% for Shede, 30% for Jiugui, and 29% for Jinzhongzi." In Hao Hongfeng's view, the rapid decline in the performance of these liquor industry companies is because "they are too kind and too honest." "These second-tier famous liquors have limited room for adjustment, and they do not have the strong ability to pressure dealers for sales," Hao Hongfeng said, or "they might as well just face reality. Instead of forcing the market to buy their products, it is better to let the dealers take the initiative."