First of all, for Maotai, its overall operating conditions are very good, and its overall operating performance is also relatively good. However, due to the influence of the whole macro-economy, the overall operating income of Maotai declined to some extent last quarter, but this decline was also relative to itself. Compared with other listed companies, the overall performance of Maotai is still very strong, but it is overheated for the current economy. Due to the impact of the COVID-19 epidemic, countries all over the world are issuing excessive money, which makes the capital in the whole capital market much more than usual, thus leading to a certain overheating of the whole economy.
During the overheating period, the food and beverage industry like Maotai will certainly be affected in the process of development, because during this period, most people's choice space will not be concentrated in these fields, but will be released in the trading of some bulk commodities, which is also an important reason for the recent large increase in the futures market. More importantly, for the current overall economic development, in the development process of these food and beverage industries, due to the excessive increase in the previous period, the corresponding stock prices have also shown a certain correction in the recent period, which is also an inevitable trend of economic development.
It is precisely because of the excessive rise of Maotai last year that the share price of the whole Maotai has risen greatly, and its entire share price is also highly valued. Therefore, in order to better reflect the market value and share price of the whole Maotai, the whole share price of Maotai will definitely have a certain correction, because for some people, they don't think Maotai can continue to rise, which has led to a certain degree of decline.