Baijiu has always been a very good business,

and Moutai is the best company among baijiu makers.
1. Extremely addictive
3. No need for heavy capital investment
4. Extremely strong brand moat,
no matter who is in charge of sales, it works
5. Stable shareholder dividends
6. The longer the liquor is aged, the more valuable it becomes
The only thing is that it is affected by the broader environment of the consumption cycle.
In the A-share market, there is no business model better than Moutai.
Of course, I don’t deny that A-shares are more suitable for speculation and trading.