Asianfin--Kweichow Moutai's stock price fell below the 1,300-yuan mark on Friday for the first time since November 1, 2022, with an intraday drop of 2.6% and trading volume exceeding 4 billion yuan. Other notable declines include Wuliangye, which dropped over 2% to hit its lowest point since April 2020. Shares of Shanxi Fenjiu, Gujinggong Liquor, Shede Spirits, and Shui Jing Fang also reached near four-year lows.