id	sid	tid	token	lemma	pos
fbem-11083	1	1	frontiers	frontier	NOUN
fbem-11083	1	2	in	in	ADP
fbem-11083	1	3	business	business	NOUN
fbem-11083	1	4	,	,	PUNCT
fbem-11083	1	5	economics	economic	NOUN
fbem-11083	1	6	and	and	CCONJ
fbem-11083	1	7	management	management	NOUN
fbem-11083	1	8	issn	issn	PROPN
fbem-11083	1	9	:	:	PUNCT
fbem-11083	1	10	2766	2766	NUM
fbem-11083	1	11	-	-	PUNCT
fbem-11083	1	12	824x	824x	NUM
fbem-11083	1	13	|	|	ADJ
fbem-11083	1	14	vol	vol	NOUN
fbem-11083	1	15	.	.	PROPN
fbem-11083	2	1	10	10	NUM
fbem-11083	2	2	,	,	PUNCT
fbem-11083	2	3	no	no	INTJ
fbem-11083	2	4	.	.	NOUN
fbem-11083	2	5	2	2	NUM
fbem-11083	2	6	,	,	PUNCT
fbem-11083	2	7	2023	2023	NUM
fbem-11083	2	8	382	382	NUM
fbem-11083	2	9	financial	financial	ADJ
fbem-11083	2	10	performance	performance	NOUN
fbem-11083	2	11	analysis	analysis	NOUN
fbem-11083	2	12	of	of	ADP
fbem-11083	2	13	listed	list	VERB
fbem-11083	2	14	baijiu	baijiu	NOUN
fbem-11083	2	15	companies	company	NOUN
fbem-11083	2	16	-a	-a	PUNCT
fbem-11083	2	17	case	case	NOUN
fbem-11083	2	18	study	study	NOUN
fbem-11083	2	19	of	of	ADP
fbem-11083	2	20	guizhou	guizhou	PROPN
fbem-11083	2	21	maotai	maotai	PROPN
fbem-11083	2	22	and	and	CCONJ
fbem-11083	2	23	wuliangye	wuliangye	PROPN
fbem-11083	2	24	.	.	PUNCT
fbem-11083	3	1	zixi	zixi	PROPN
fbem-11083	4	1	chen	chen	PROPN
fbem-11083	4	2	,	,	PUNCT
fbem-11083	4	3	yuhao	yuhao	PROPN
fbem-11083	4	4	deng	deng	PROPN
fbem-11083	4	5	management	management	PROPN
fbem-11083	4	6	department	department	PROPN
fbem-11083	4	7	,	,	PUNCT
fbem-11083	4	8	sichuan	sichuan	PROPN
fbem-11083	4	9	university	university	PROPN
fbem-11083	4	10	of	of	ADP
fbem-11083	4	11	science	science	PROPN
fbem-11083	4	12	&	&	CCONJ
fbem-11083	4	13	engineering	engineering	PROPN
fbem-11083	4	14	,	,	PUNCT
fbem-11083	4	15	yibin	yibin	PROPN
fbem-11083	4	16	,	,	PUNCT
fbem-11083	4	17	644000	644000	NUM
fbem-11083	4	18	,	,	PUNCT
fbem-11083	4	19	china	china	PROPN
fbem-11083	4	20	abstract	abstract	NOUN
fbem-11083	4	21	:	:	PUNCT
fbem-11083	4	22	the	the	DET
fbem-11083	4	23	chinese	chinese	ADJ
fbem-11083	4	24	baijiu	baijiu	NOUN
fbem-11083	4	25	industry	industry	NOUN
fbem-11083	4	26	boasts	boast	VERB
fbem-11083	4	27	a	a	DET
fbem-11083	4	28	rich	rich	ADJ
fbem-11083	4	29	historical	historical	ADJ
fbem-11083	4	30	heritage	heritage	NOUN
fbem-11083	4	31	,	,	PUNCT
fbem-11083	4	32	comprising	comprise	VERB
fbem-11083	4	33	a	a	DET
fbem-11083	4	34	plethora	plethora	NOUN
fbem-11083	4	35	of	of	ADP
fbem-11083	4	36	enterprises	enterprise	NOUN
fbem-11083	4	37	engaged	engage	VERB
fbem-11083	4	38	in	in	ADP
fbem-11083	4	39	fierce	fierce	ADJ
fbem-11083	4	40	competition	competition	NOUN
fbem-11083	4	41	.	.	PUNCT
fbem-11083	5	1	the	the	DET
fbem-11083	5	2	present	present	ADJ
fbem-11083	5	3	research	research	NOUN
fbem-11083	5	4	endeavors	endeavor	NOUN
fbem-11083	5	5	to	to	PART
fbem-11083	5	6	conduct	conduct	VERB
fbem-11083	5	7	a	a	DET
fbem-11083	5	8	comprehensive	comprehensive	ADJ
fbem-11083	5	9	analysis	analysis	NOUN
fbem-11083	5	10	of	of	ADP
fbem-11083	5	11	the	the	DET
fbem-11083	5	12	financial	financial	ADJ
fbem-11083	5	13	performance	performance	NOUN
fbem-11083	5	14	of	of	ADP
fbem-11083	5	15	publicly	publicly	ADV
fbem-11083	5	16	listed	list	VERB
fbem-11083	5	17	baijiu	baijiu	NOUN
fbem-11083	5	18	companies	company	NOUN
fbem-11083	5	19	,	,	PUNCT
fbem-11083	5	20	with	with	ADP
fbem-11083	5	21	a	a	DET
fbem-11083	5	22	particular	particular	ADJ
fbem-11083	5	23	focus	focus	NOUN
fbem-11083	5	24	on	on	ADP
fbem-11083	5	25	two	two	NUM
fbem-11083	5	26	prominent	prominent	ADJ
fbem-11083	5	27	entities	entity	NOUN
fbem-11083	5	28	,	,	PUNCT
fbem-11083	5	29	namely	namely	ADV
fbem-11083	5	30	guizhou	guizhou	NOUN
fbem-11083	5	31	maotai	maotai	PROPN
fbem-11083	5	32	and	and	CCONJ
fbem-11083	5	33	wuliangye	wuliangye	NOUN
fbem-11083	5	34	.	.	PUNCT
fbem-11083	6	1	by	by	ADP
fbem-11083	6	2	delving	delve	VERB
fbem-11083	6	3	into	into	ADP
fbem-11083	6	4	their	their	PRON
fbem-11083	6	5	financial	financial	ADJ
fbem-11083	6	6	data	datum	NOUN
fbem-11083	6	7	,	,	PUNCT
fbem-11083	6	8	this	this	DET
fbem-11083	6	9	study	study	NOUN
fbem-11083	6	10	aims	aim	VERB
fbem-11083	6	11	to	to	PART
fbem-11083	6	12	scrutinize	scrutinize	VERB
fbem-11083	6	13	and	and	CCONJ
fbem-11083	6	14	compare	compare	VERB
fbem-11083	6	15	their	their	PRON
fbem-11083	6	16	respective	respective	ADJ
fbem-11083	6	17	financial	financial	ADJ
fbem-11083	6	18	performances	performance	NOUN
fbem-11083	6	19	while	while	SCONJ
fbem-11083	6	20	exploring	explore	VERB
fbem-11083	6	21	the	the	DET
fbem-11083	6	22	underlying	underlie	VERB
fbem-11083	6	23	factors	factor	NOUN
fbem-11083	6	24	that	that	PRON
fbem-11083	6	25	contribute	contribute	VERB
fbem-11083	6	26	to	to	ADP
fbem-11083	6	27	any	any	DET
fbem-11083	6	28	observed	observed	ADJ
fbem-11083	6	29	disparities	disparity	NOUN
fbem-11083	6	30	.	.	PUNCT
fbem-11083	7	1	drawing	draw	VERB
fbem-11083	7	2	upon	upon	SCONJ
fbem-11083	7	3	the	the	DET
fbem-11083	7	4	financial	financial	ADJ
fbem-11083	7	5	data	datum	NOUN
fbem-11083	7	6	retrieved	retrieve	VERB
fbem-11083	7	7	from	from	ADP
fbem-11083	7	8	the	the	DET
fbem-11083	7	9	esteemed	esteemed	ADJ
fbem-11083	7	10	guotai	guotai	NOUN
fbem-11083	7	11	an	an	DET
fbem-11083	7	12	database	database	NOUN
fbem-11083	7	13	(	(	PUNCT
fbem-11083	7	14	csmar	csmar	PROPN
fbem-11083	7	15	)	)	PUNCT
fbem-11083	7	16	spanning	span	VERB
fbem-11083	7	17	the	the	DET
fbem-11083	7	18	years	year	NOUN
fbem-11083	7	19	2017	2017	NUM
fbem-11083	7	20	to	to	ADP
fbem-11083	7	21	2021	2021	NUM
fbem-11083	7	22	,	,	PUNCT
fbem-11083	7	23	this	this	DET
fbem-11083	7	24	investigation	investigation	NOUN
fbem-11083	7	25	meticulously	meticulously	ADV
fbem-11083	7	26	contrasts	contrast	VERB
fbem-11083	7	27	and	and	CCONJ
fbem-11083	7	28	analyzes	analyze	VERB
fbem-11083	7	29	the	the	DET
fbem-11083	7	30	financial	financial	ADJ
fbem-11083	7	31	status	status	NOUN
fbem-11083	7	32	,	,	PUNCT
fbem-11083	7	33	growth	growth	NOUN
fbem-11083	7	34	prospects	prospect	NOUN
fbem-11083	7	35	,	,	PUNCT
fbem-11083	7	36	and	and	CCONJ
fbem-11083	7	37	strategic	strategic	ADJ
fbem-11083	7	38	developments	development	NOUN
fbem-11083	7	39	of	of	ADP
fbem-11083	7	40	both	both	DET
fbem-11083	7	41	enterprises	enterprise	NOUN
fbem-11083	7	42	.	.	PUNCT
fbem-11083	8	1	keywords	keyword	NOUN
fbem-11083	8	2	:	:	PUNCT
fbem-11083	8	3	listed	list	VERB
fbem-11083	8	4	companies	company	NOUN
fbem-11083	8	5	,	,	PUNCT
fbem-11083	8	6	financial	financial	ADJ
fbem-11083	8	7	performance	performance	NOUN
fbem-11083	8	8	analysis	analysis	NOUN
fbem-11083	8	9	,	,	PUNCT
fbem-11083	8	10	wuliangye	wuliangye	NOUN
fbem-11083	8	11	,	,	PUNCT
fbem-11083	8	12	guizhou	guizhou	PROPN
fbem-11083	8	13	maotai	maotai	PROPN
fbem-11083	8	14	.	.	PUNCT
fbem-11083	9	1	1	1	X
fbem-11083	9	2	.	.	X
fbem-11083	9	3	introduction	introduction	NOUN
fbem-11083	9	4	the	the	DET
fbem-11083	9	5	year	year	NOUN
fbem-11083	9	6	2021	2021	NUM
fbem-11083	9	7	witnessed	witness	VERB
fbem-11083	9	8	guizhou	guizhou	PROPN
fbem-11083	9	9	maotai	maotai	PROPN
fbem-11083	9	10	achieving	achieve	VERB
fbem-11083	9	11	a	a	DET
fbem-11083	9	12	remarkable	remarkable	ADJ
fbem-11083	9	13	feat	feat	NOUN
fbem-11083	9	14	by	by	ADP
fbem-11083	9	15	surpassing	surpass	VERB
fbem-11083	9	16	the	the	DET
fbem-11083	9	17	illustrious	illustrious	ADJ
fbem-11083	9	18	threshold	threshold	NOUN
fbem-11083	9	19	of	of	ADP
fbem-11083	9	20	a	a	DET
fbem-11083	9	21	hundred	hundred	NUM
fbem-11083	9	22	billion	billion	NUM
fbem-11083	9	23	yuan	yuan	NOUN
fbem-11083	9	24	,	,	PUNCT
fbem-11083	9	25	solidifying	solidify	VERB
fbem-11083	9	26	its	its	PRON
fbem-11083	9	27	position	position	NOUN
fbem-11083	9	28	at	at	ADP
fbem-11083	9	29	the	the	DET
fbem-11083	9	30	summit	summit	NOUN
fbem-11083	9	31	with	with	ADP
fbem-11083	9	32	an	an	DET
fbem-11083	9	33	impressive	impressive	ADJ
fbem-11083	9	34	performance	performance	NOUN
fbem-11083	9	35	of	of	ADP
fbem-11083	9	36	106.059	106.059	NUM
fbem-11083	9	37	billion	billion	NUM
fbem-11083	9	38	yuan	yuan	NOUN
fbem-11083	9	39	,	,	PUNCT
fbem-11083	9	40	while	while	SCONJ
fbem-11083	9	41	wuliangye	wuliangye	NOUN
fbem-11083	9	42	closely	closely	ADV
fbem-11083	9	43	followed	follow	VERB
fbem-11083	9	44	in	in	ADP
fbem-11083	9	45	the	the	DET
fbem-11083	9	46	second	second	ADJ
fbem-11083	9	47	position	position	NOUN
fbem-11083	9	48	with	with	ADP
fbem-11083	9	49	a	a	DET
fbem-11083	9	50	commendable	commendable	ADJ
fbem-11083	9	51	achievement	achievement	NOUN
fbem-11083	9	52	of	of	ADP
fbem-11083	9	53	61.732	61.732	NUM
fbem-11083	9	54	billion	billion	NUM
fbem-11083	9	55	yuan	yuan	NOUN
fbem-11083	9	56	.	.	PUNCT
fbem-11083	10	1	comparatively	comparatively	ADV
fbem-11083	10	2	,	,	PUNCT
fbem-11083	10	3	the	the	DET
fbem-11083	10	4	third	third	ADJ
fbem-11083	10	5	and	and	CCONJ
fbem-11083	10	6	fourth	fourth	ADV
fbem-11083	10	7	-	-	PUNCT
fbem-11083	10	8	ranked	rank	VERB
fbem-11083	10	9	companies	company	NOUN
fbem-11083	10	10	recorded	record	VERB
fbem-11083	10	11	revenues	revenue	NOUN
fbem-11083	10	12	of	of	ADP
fbem-11083	10	13	approximately	approximately	ADV
fbem-11083	10	14	30	30	NUM
fbem-11083	10	15	billion	billion	NUM
fbem-11083	10	16	yuan	yuan	NOUN
fbem-11083	10	17	,	,	PUNCT
fbem-11083	10	18	underscoring	underscore	VERB
fbem-11083	10	19	the	the	DET
fbem-11083	10	20	exceptional	exceptional	ADJ
fbem-11083	10	21	dominance	dominance	NOUN
fbem-11083	10	22	of	of	ADP
fbem-11083	10	23	these	these	DET
fbem-11083	10	24	two	two	NUM
fbem-11083	10	25	industry	industry	NOUN
fbem-11083	10	26	titans	titan	NOUN
fbem-11083	10	27	in	in	ADP
fbem-11083	10	28	the	the	DET
fbem-11083	10	29	thriving	thriving	ADJ
fbem-11083	10	30	alcoholic	alcoholic	ADJ
fbem-11083	10	31	beverage	beverage	NOUN
fbem-11083	10	32	sector	sector	NOUN
fbem-11083	10	33	.	.	PUNCT
fbem-11083	11	1	as	as	ADP
fbem-11083	11	2	prominent	prominent	ADJ
fbem-11083	11	3	stalwarts	stalwart	NOUN
fbem-11083	11	4	in	in	ADP
fbem-11083	11	5	china	china	PROPN
fbem-11083	11	6	's	's	PART
fbem-11083	11	7	baijiu	baijiu	NOUN
fbem-11083	11	8	industry	industry	NOUN
fbem-11083	11	9	,	,	PUNCT
fbem-11083	11	10	both	both	DET
fbem-11083	11	11	guizhou	guizhou	PROPN
fbem-11083	11	12	maotai	maotai	PROPN
fbem-11083	11	13	and	and	CCONJ
fbem-11083	11	14	wuliangye	wuliangye	NOUN
fbem-11083	11	15	are	be	AUX
fbem-11083	11	16	primarily	primarily	ADV
fbem-11083	11	17	focused	focus	VERB
fbem-11083	11	18	on	on	ADP
fbem-11083	11	19	the	the	DET
fbem-11083	11	20	production	production	NOUN
fbem-11083	11	21	and	and	CCONJ
fbem-11083	11	22	distribution	distribution	NOUN
fbem-11083	11	23	of	of	ADP
fbem-11083	11	24	white	white	ADJ
fbem-11083	11	25	spirits	spirit	NOUN
fbem-11083	11	26	,	,	PUNCT
fbem-11083	11	27	albeit	albeit	SCONJ
fbem-11083	11	28	exhibiting	exhibit	VERB
fbem-11083	11	29	considerable	considerable	ADJ
fbem-11083	11	30	distinctions	distinction	NOUN
fbem-11083	11	31	in	in	ADP
fbem-11083	11	32	product	product	NOUN
fbem-11083	11	33	diversity	diversity	NOUN
fbem-11083	11	34	and	and	CCONJ
fbem-11083	11	35	revenue	revenue	NOUN
fbem-11083	11	36	generation	generation	NOUN
fbem-11083	11	37	capabilities	capability	NOUN
fbem-11083	11	38	.	.	PUNCT
fbem-11083	12	1	in	in	ADP
fbem-11083	12	2	this	this	DET
fbem-11083	12	3	study	study	NOUN
fbem-11083	12	4	,	,	PUNCT
fbem-11083	12	5	we	we	PRON
fbem-11083	12	6	meticulously	meticulously	ADV
fbem-11083	12	7	conduct	conduct	VERB
fbem-11083	12	8	a	a	DET
fbem-11083	12	9	rigorous	rigorous	ADJ
fbem-11083	12	10	comparative	comparative	ADJ
fbem-11083	12	11	analysis	analysis	NOUN
fbem-11083	12	12	of	of	ADP
fbem-11083	12	13	their	their	PRON
fbem-11083	12	14	financial	financial	ADJ
fbem-11083	12	15	performance	performance	NOUN
fbem-11083	12	16	indicators	indicator	NOUN
fbem-11083	12	17	,	,	PUNCT
fbem-11083	12	18	with	with	ADP
fbem-11083	12	19	a	a	DET
fbem-11083	12	20	particular	particular	ADJ
fbem-11083	12	21	emphasis	emphasis	NOUN
fbem-11083	12	22	on	on	ADP
fbem-11083	12	23	four	four	NUM
fbem-11083	12	24	crucial	crucial	ADJ
fbem-11083	12	25	dimensions	dimension	NOUN
fbem-11083	12	26	:	:	PUNCT
fbem-11083	12	27	profitability	profitability	NOUN
fbem-11083	12	28	,	,	PUNCT
fbem-11083	12	29	solvency	solvency	NOUN
fbem-11083	12	30	,	,	PUNCT
fbem-11083	12	31	operational	operational	ADJ
fbem-11083	12	32	efficiency	efficiency	NOUN
fbem-11083	12	33	,	,	PUNCT
fbem-11083	12	34	and	and	CCONJ
fbem-11083	12	35	growth	growth	NOUN
fbem-11083	12	36	potential	potential	NOUN
fbem-11083	12	37	.	.	PUNCT
fbem-11083	13	1	it	it	PRON
fbem-11083	13	2	is	be	AUX
fbem-11083	13	3	pertinent	pertinent	ADJ
fbem-11083	13	4	to	to	PART
fbem-11083	13	5	underscore	underscore	VERB
fbem-11083	13	6	that	that	SCONJ
fbem-11083	13	7	the	the	DET
fbem-11083	13	8	data	datum	NOUN
fbem-11083	13	9	employed	employ	VERB
fbem-11083	13	10	in	in	ADP
fbem-11083	13	11	this	this	DET
fbem-11083	13	12	research	research	NOUN
fbem-11083	13	13	emanates	emanate	VERB
fbem-11083	13	14	from	from	ADP
fbem-11083	13	15	the	the	DET
fbem-11083	13	16	reputable	reputable	ADJ
fbem-11083	13	17	guotai	guotai	NOUN
fbem-11083	13	18	an	an	DET
fbem-11083	13	19	database	database	NOUN
fbem-11083	13	20	(	(	PUNCT
fbem-11083	13	21	csmar	csmar	PROPN
fbem-11083	13	22	)	)	PUNCT
fbem-11083	13	23	,	,	PUNCT
fbem-11083	13	24	and	and	CCONJ
fbem-11083	13	25	the	the	DET
fbem-11083	13	26	financial	financial	ADJ
fbem-11083	13	27	statements	statement	NOUN
fbem-11083	13	28	of	of	ADP
fbem-11083	13	29	guizhou	guizhou	PROPN
fbem-11083	13	30	maotai	maotai	PROPN
fbem-11083	13	31	and	and	CCONJ
fbem-11083	13	32	wuliangye	wuliangye	VERB
fbem-11083	13	33	for	for	ADP
fbem-11083	13	34	the	the	DET
fbem-11083	13	35	past	past	ADJ
fbem-11083	13	36	five	five	NUM
fbem-11083	13	37	years	year	NOUN
fbem-11083	13	38	have	have	AUX
fbem-11083	13	39	undergone	undergo	VERB
fbem-11083	13	40	meticulous	meticulous	ADJ
fbem-11083	13	41	audit	audit	NOUN
fbem-11083	13	42	procedures	procedure	NOUN
fbem-11083	13	43	,	,	PUNCT
fbem-11083	13	44	leading	lead	VERB
fbem-11083	13	45	to	to	ADP
fbem-11083	13	46	the	the	DET
fbem-11083	13	47	issuance	issuance	NOUN
fbem-11083	13	48	of	of	ADP
fbem-11083	13	49	unqualified	unqualified	ADJ
fbem-11083	13	50	audit	audit	NOUN
fbem-11083	13	51	reports	report	NOUN
fbem-11083	13	52	by	by	ADP
fbem-11083	13	53	the	the	DET
fbem-11083	13	54	esteemed	esteemed	ADJ
fbem-11083	13	55	accounting	accounting	NOUN
fbem-11083	13	56	firms	firm	NOUN
fbem-11083	13	57	,	,	PUNCT
fbem-11083	13	58	thus	thus	ADV
fbem-11083	13	59	affirming	affirm	VERB
fbem-11083	13	60	the	the	DET
fbem-11083	13	61	utmost	utmost	ADJ
fbem-11083	13	62	reliability	reliability	NOUN
fbem-11083	13	63	and	and	CCONJ
fbem-11083	13	64	validity	validity	NOUN
fbem-11083	13	65	of	of	ADP
fbem-11083	13	66	the	the	DET
fbem-11083	13	67	data	datum	NOUN
fbem-11083	13	68	under	under	ADP
fbem-11083	13	69	scrutiny	scrutiny	NOUN
fbem-11083	13	70	.	.	PUNCT
fbem-11083	14	1	2	2	X
fbem-11083	14	2	.	.	X
fbem-11083	14	3	comparative	comparative	ADJ
fbem-11083	14	4	analysis	analysis	NOUN
fbem-11083	14	5	of	of	ADP
fbem-11083	14	6	financial	financial	ADJ
fbem-11083	14	7	indicators	indicator	NOUN
fbem-11083	14	8	2.1	2.1	NUM
fbem-11083	14	9	.	.	PUNCT
fbem-11083	15	1	analysis	analysis	NOUN
fbem-11083	15	2	of	of	ADP
fbem-11083	15	3	profitability	profitability	NOUN
fbem-11083	15	4	this	this	DET
fbem-11083	15	5	study	study	NOUN
fbem-11083	15	6	focuses	focus	VERB
fbem-11083	15	7	on	on	ADP
fbem-11083	15	8	a	a	DET
fbem-11083	15	9	comparative	comparative	ADJ
fbem-11083	15	10	analysis	analysis	NOUN
fbem-11083	15	11	of	of	ADP
fbem-11083	15	12	the	the	DET
fbem-11083	15	13	profitability	profitability	NOUN
fbem-11083	15	14	of	of	ADP
fbem-11083	15	15	guizhou	guizhou	PROPN
fbem-11083	15	16	maotai	maotai	PROPN
fbem-11083	15	17	and	and	CCONJ
fbem-11083	15	18	wuliangye	wuliangye	NOUN
fbem-11083	15	19	,	,	PUNCT
fbem-11083	15	20	employing	employ	VERB
fbem-11083	15	21	three	three	NUM
fbem-11083	15	22	key	key	ADJ
fbem-11083	15	23	financial	financial	ADJ
fbem-11083	15	24	indicators	indicator	NOUN
fbem-11083	15	25	:	:	PUNCT
fbem-11083	15	26	return	return	VERB
fbem-11083	15	27	on	on	ADP
fbem-11083	15	28	equity	equity	NOUN
fbem-11083	15	29	(	(	PUNCT
fbem-11083	15	30	roe	roe	PROPN
fbem-11083	15	31	)	)	PUNCT
fbem-11083	15	32	,	,	PUNCT
fbem-11083	15	33	operating	operate	VERB
fbem-11083	15	34	profit	profit	NOUN
fbem-11083	15	35	margin	margin	NOUN
fbem-11083	15	36	(	(	PUNCT
fbem-11083	15	37	opm	opm	NOUN
fbem-11083	15	38	)	)	PUNCT
fbem-11083	15	39	,	,	PUNCT
fbem-11083	15	40	and	and	CCONJ
fbem-11083	15	41	cost	cost	NOUN
fbem-11083	15	42	and	and	CCONJ
fbem-11083	15	43	expense	expense	NOUN
fbem-11083	15	44	profit	profit	NOUN
fbem-11083	15	45	margin	margin	NOUN
fbem-11083	15	46	(	(	PUNCT
fbem-11083	15	47	cepm	cepm	PROPN
fbem-11083	15	48	)	)	PUNCT
fbem-11083	15	49	.	.	PUNCT
fbem-11083	16	1	2.1.1	2.1.1	X
fbem-11083	16	2	.	.	PUNCT
fbem-11083	16	3	comparative	comparative	ADJ
fbem-11083	16	4	analysis	analysis	NOUN
fbem-11083	16	5	of	of	ADP
fbem-11083	16	6	return	return	NOUN
fbem-11083	16	7	on	on	ADP
fbem-11083	16	8	equity	equity	NOUN
fbem-11083	16	9	(	(	PUNCT
fbem-11083	16	10	roe	roe	PROPN
fbem-11083	16	11	)	)	PUNCT
fbem-11083	16	12	the	the	DET
fbem-11083	16	13	return	return	NOUN
fbem-11083	16	14	on	on	ADP
fbem-11083	16	15	equity	equity	NOUN
fbem-11083	16	16	(	(	PUNCT
fbem-11083	16	17	roe	roe	PROPN
fbem-11083	16	18	)	)	PUNCT
fbem-11083	16	19	is	be	AUX
fbem-11083	16	20	calculated	calculate	VERB
fbem-11083	16	21	as	as	ADP
fbem-11083	16	22	the	the	DET
fbem-11083	16	23	ratio	ratio	NOUN
fbem-11083	16	24	of	of	ADP
fbem-11083	16	25	net	net	ADJ
fbem-11083	16	26	profit	profit	NOUN
fbem-11083	16	27	to	to	PART
fbem-11083	16	28	average	average	ADJ
fbem-11083	16	29	equity	equity	NOUN
fbem-11083	16	30	.	.	PUNCT
fbem-11083	17	1	a	a	DET
fbem-11083	17	2	higher	high	ADJ
fbem-11083	17	3	roe	roe	NOUN
fbem-11083	17	4	signifies	signify	VERB
fbem-11083	17	5	stronger	strong	ADJ
fbem-11083	17	6	profitability	profitability	NOUN
fbem-11083	17	7	for	for	ADP
fbem-11083	17	8	a	a	DET
fbem-11083	17	9	company	company	NOUN
fbem-11083	17	10	.	.	PUNCT
fbem-11083	18	1	as	as	SCONJ
fbem-11083	18	2	depicted	depict	VERB
fbem-11083	18	3	in	in	ADP
fbem-11083	18	4	figure	figure	NOUN
fbem-11083	18	5	2.1.1.1	2.1.1.1	NUM
fbem-11083	18	6	and	and	CCONJ
fbem-11083	18	7	detailed	detail	VERB
fbem-11083	18	8	in	in	ADP
fbem-11083	18	9	table	table	NOUN
fbem-11083	18	10	2.1.1	2.1.1	NUM
fbem-11083	18	11	,	,	PUNCT
fbem-11083	18	12	the	the	DET
fbem-11083	18	13	trend	trend	NOUN
fbem-11083	18	14	of	of	ADP
fbem-11083	18	15	roe	roe	PROPN
fbem-11083	18	16	for	for	ADP
fbem-11083	18	17	guizhou	guizhou	PROPN
fbem-11083	18	18	maotai	maotai	PROPN
fbem-11083	18	19	showcases	showcase	VERB
fbem-11083	18	20	a	a	DET
fbem-11083	18	21	distinct	distinct	ADJ
fbem-11083	18	22	inverted	inverted	ADJ
fbem-11083	18	23	v	v	ADV
fbem-11083	18	24	-	-	PUNCT
fbem-11083	18	25	shaped	shape	VERB
fbem-11083	18	26	pattern	pattern	NOUN
fbem-11083	18	27	from	from	ADP
fbem-11083	18	28	2017	2017	NUM
fbem-11083	18	29	to	to	ADP
fbem-11083	18	30	2021	2021	NUM
fbem-11083	18	31	.	.	PUNCT
fbem-11083	19	1	during	during	ADP
fbem-11083	19	2	this	this	DET
fbem-11083	19	3	period	period	NOUN
fbem-11083	19	4	,	,	PUNCT
fbem-11083	19	5	the	the	DET
fbem-11083	19	6	roe	roe	NOUN
fbem-11083	19	7	experienced	experience	VERB
fbem-11083	19	8	an	an	DET
fbem-11083	19	9	upward	upward	ADJ
fbem-11083	19	10	trajectory	trajectory	NOUN
fbem-11083	19	11	from	from	ADP
fbem-11083	19	12	2017	2017	NUM
fbem-11083	19	13	to	to	ADP
fbem-11083	19	14	2018	2018	NUM
fbem-11083	19	15	,	,	PUNCT
fbem-11083	19	16	followed	follow	VERB
fbem-11083	19	17	by	by	ADP
fbem-11083	19	18	a	a	DET
fbem-11083	19	19	downward	downward	ADJ
fbem-11083	19	20	trend	trend	NOUN
fbem-11083	19	21	from	from	ADP
fbem-11083	19	22	2018	2018	NUM
fbem-11083	19	23	to	to	ADP
fbem-11083	19	24	2021	2021	NUM
fbem-11083	19	25	.	.	PUNCT
fbem-11083	20	1	in	in	ADP
fbem-11083	20	2	2017	2017	NUM
fbem-11083	20	3	and	and	CCONJ
fbem-11083	20	4	2018	2018	NUM
fbem-11083	20	5	,	,	PUNCT
fbem-11083	20	6	the	the	DET
fbem-11083	20	7	roe	roe	NOUN
fbem-11083	20	8	values	value	NOUN
fbem-11083	20	9	for	for	ADP
fbem-11083	20	10	guizhou	guizhou	PROPN
fbem-11083	20	11	maotai	maotai	PROPN
fbem-11083	20	12	were	be	AUX
fbem-11083	20	13	33.74	33.74	NUM
fbem-11083	20	14	%	%	NOUN
fbem-11083	20	15	and	and	CCONJ
fbem-11083	20	16	35.45	35.45	NUM
fbem-11083	20	17	%	%	NOUN
fbem-11083	20	18	,	,	PUNCT
fbem-11083	20	19	respectively	respectively	ADV
fbem-11083	20	20	.	.	PUNCT
fbem-11083	21	1	concurrently	concurrently	ADV
fbem-11083	21	2	,	,	PUNCT
fbem-11083	21	3	the	the	DET
fbem-11083	21	4	net	net	ADJ
fbem-11083	21	5	profit	profit	NOUN
fbem-11083	21	6	figures	figure	NOUN
fbem-11083	21	7	for	for	ADP
fbem-11083	21	8	those	those	DET
fbem-11083	21	9	years	year	NOUN
fbem-11083	21	10	stood	stand	VERB
fbem-11083	21	11	at	at	ADP
fbem-11083	21	12	29,006.42	29,006.42	NUM
fbem-11083	21	13	million	million	NUM
fbem-11083	21	14	yuan	yuan	NOUN
fbem-11083	21	15	and	and	CCONJ
fbem-11083	21	16	37,829.61	37,829.61	NUM
fbem-11083	21	17	million	million	NUM
fbem-11083	21	18	yuan	yuan	NOUN
fbem-11083	21	19	,	,	PUNCT
fbem-11083	21	20	witnessing	witness	VERB
fbem-11083	21	21	year	year	NOUN
fbem-11083	21	22	-	-	PUNCT
fbem-11083	21	23	on	on	ADP
fbem-11083	21	24	-	-	PUNCT
fbem-11083	21	25	year	year	NOUN
fbem-11083	21	26	growth	growth	NOUN
fbem-11083	21	27	rates	rate	NOUN
fbem-11083	21	28	of	of	ADP
fbem-11083	21	29	61.77	61.77	NUM
fbem-11083	21	30	%	%	NOUN
fbem-11083	21	31	and	and	CCONJ
fbem-11083	21	32	30.42	30.42	NUM
fbem-11083	21	33	%	%	NOUN
fbem-11083	21	34	,	,	PUNCT
fbem-11083	21	35	respectively	respectively	ADV
fbem-11083	21	36	.	.	PUNCT
fbem-11083	22	1	additionally	additionally	ADV
fbem-11083	22	2	,	,	PUNCT
fbem-11083	22	3	the	the	DET
fbem-11083	22	4	average	average	ADJ
fbem-11083	22	5	equity	equity	NOUN
fbem-11083	22	6	for	for	ADP
fbem-11083	22	7	the	the	DET
fbem-11083	22	8	same	same	ADJ
fbem-11083	22	9	period	period	NOUN
fbem-11083	22	10	was	be	AUX
fbem-11083	22	11	85,959.09	85,959.09	NUM
fbem-11083	22	12	million	million	NUM
fbem-11083	22	13	yuan	yuan	NOUN
fbem-11083	22	14	and	and	CCONJ
fbem-11083	22	15	106,714.06	106,714.06	NUM
fbem-11083	22	16	million	million	NUM
fbem-11083	22	17	yuan	yuan	NOUN
fbem-11083	22	18	,	,	PUNCT
fbem-11083	22	19	experiencing	experience	VERB
fbem-11083	22	20	year	year	NOUN
fbem-11083	22	21	-	-	PUNCT
fbem-11083	22	22	on	on	ADP
fbem-11083	22	23	-	-	PUNCT
fbem-11083	22	24	year	year	NOUN
fbem-11083	22	25	growth	growth	NOUN
fbem-11083	22	26	rates	rate	NOUN
fbem-11083	22	27	of	of	ADP
fbem-11083	22	28	20.96	20.96	NUM
fbem-11083	22	29	%	%	NOUN
fbem-11083	22	30	and	and	CCONJ
fbem-11083	22	31	24.15	24.15	NUM
fbem-11083	22	32	%	%	NOUN
fbem-11083	22	33	,	,	PUNCT
fbem-11083	22	34	respectively	respectively	ADV
fbem-11083	22	35	.	.	PUNCT
fbem-11083	23	1	the	the	DET
fbem-11083	23	2	analysis	analysis	NOUN
fbem-11083	23	3	reveals	reveal	VERB
fbem-11083	23	4	that	that	SCONJ
fbem-11083	23	5	the	the	DET
fbem-11083	23	6	surge	surge	NOUN
fbem-11083	23	7	in	in	ADP
fbem-11083	23	8	roe	roe	NOUN
fbem-11083	23	9	in	in	ADP
fbem-11083	23	10	2017	2017	NUM
fbem-11083	23	11	and	and	CCONJ
fbem-11083	23	12	2018	2018	NUM
fbem-11083	23	13	can	can	AUX
fbem-11083	23	14	be	be	AUX
fbem-11083	23	15	attributed	attribute	VERB
fbem-11083	23	16	to	to	ADP
fbem-11083	23	17	a	a	DET
fbem-11083	23	18	substantial	substantial	ADJ
fbem-11083	23	19	increase	increase	NOUN
fbem-11083	23	20	in	in	ADP
fbem-11083	23	21	net	net	ADJ
fbem-11083	23	22	profit	profit	NOUN
fbem-11083	23	23	,	,	PUNCT
fbem-11083	23	24	indicating	indicate	VERB
fbem-11083	23	25	enhanced	enhanced	ADJ
fbem-11083	23	26	profitability	profitability	NOUN
fbem-11083	23	27	during	during	ADP
fbem-11083	23	28	this	this	DET
fbem-11083	23	29	period	period	NOUN
fbem-11083	23	30	.	.	PUNCT
fbem-11083	24	1	however	however	ADV
fbem-11083	24	2	,	,	PUNCT
fbem-11083	24	3	from	from	ADP
fbem-11083	24	4	2018	2018	NUM
fbem-11083	24	5	to	to	ADP
fbem-11083	24	6	2021	2021	NUM
fbem-11083	24	7	,	,	PUNCT
fbem-11083	24	8	the	the	DET
fbem-11083	24	9	roe	roe	NOUN
fbem-11083	24	10	of	of	ADP
fbem-11083	24	11	guizhou	guizhou	PROPN
fbem-11083	24	12	maotai	maotai	PROPN
fbem-11083	24	13	exhibited	exhibit	VERB
fbem-11083	24	14	a	a	DET
fbem-11083	24	15	declining	decline	VERB
fbem-11083	24	16	trend	trend	NOUN
fbem-11083	24	17	,	,	PUNCT
fbem-11083	24	18	primarily	primarily	ADV
fbem-11083	24	19	due	due	ADP
fbem-11083	24	20	to	to	ADP
fbem-11083	24	21	a	a	DET
fbem-11083	24	22	decrease	decrease	NOUN
fbem-11083	24	23	in	in	ADP
fbem-11083	24	24	net	net	ADJ
fbem-11083	24	25	profit	profit	NOUN
fbem-11083	24	26	,	,	PUNCT
fbem-11083	24	27	which	which	PRON
fbem-11083	24	28	grew	grow	VERB
fbem-11083	24	29	at	at	ADP
fbem-11083	24	30	rates	rate	NOUN
fbem-11083	24	31	of	of	ADP
fbem-11083	24	32	16.23	16.23	NUM
fbem-11083	24	33	%	%	NOUN
fbem-11083	24	34	,	,	PUNCT
fbem-11083	24	35	12.63	12.63	NUM
fbem-11083	24	36	%	%	NOUN
fbem-11083	24	37	,	,	PUNCT
fbem-11083	24	38	and	and	CCONJ
fbem-11083	24	39	12.51	12.51	NUM
fbem-11083	24	40	%	%	NOUN
fbem-11083	24	41	in	in	ADP
fbem-11083	24	42	the	the	DET
fbem-11083	24	43	respective	respective	ADJ
fbem-11083	24	44	years	year	NOUN
fbem-11083	24	45	,	,	PUNCT
fbem-11083	24	46	and	and	CCONJ
fbem-11083	24	47	an	an	DET
fbem-11083	24	48	increase	increase	NOUN
fbem-11083	24	49	in	in	ADP
fbem-11083	24	50	average	average	ADJ
fbem-11083	24	51	equity	equity	NOUN
fbem-11083	24	52	,	,	PUNCT
fbem-11083	24	53	which	which	PRON
fbem-11083	24	54	witnessed	witness	VERB
fbem-11083	24	55	growth	growth	NOUN
fbem-11083	24	56	rates	rate	NOUN
fbem-11083	24	57	of	of	ADP
fbem-11083	24	58	21.49	21.49	NUM
fbem-11083	24	59	%	%	NOUN
fbem-11083	24	60	,	,	PUNCT
fbem-11083	24	61	19.4	19.4	NUM
fbem-11083	24	62	%	%	NOUN
fbem-11083	24	63	,	,	PUNCT
fbem-11083	24	64	and	and	CCONJ
fbem-11083	24	65	17.79	17.79	NUM
fbem-11083	24	66	%	%	NOUN
fbem-11083	24	67	,	,	PUNCT
fbem-11083	24	68	respectively	respectively	ADV
fbem-11083	24	69	.	.	PUNCT
fbem-11083	25	1	as	as	ADP
fbem-11083	25	2	per	per	ADP
fbem-11083	25	3	table	table	NOUN
fbem-11083	25	4	2.1.1.2	2.1.1.2	NUM
fbem-11083	25	5	and	and	CCONJ
fbem-11083	25	6	figure	figure	VERB
fbem-11083	25	7	2.1.1	2.1.1	NUM
fbem-11083	25	8	,	,	PUNCT
fbem-11083	25	9	the	the	DET
fbem-11083	25	10	roe	roe	NOUN
fbem-11083	25	11	for	for	ADP
fbem-11083	25	12	wuliangye	wuliangye	NOUN
fbem-11083	25	13	increased	increase	VERB
fbem-11083	25	14	from	from	ADP
fbem-11083	25	15	19.61	19.61	NUM
fbem-11083	25	16	%	%	NOUN
fbem-11083	25	17	in	in	ADP
fbem-11083	25	18	2017	2017	NUM
fbem-11083	25	19	to	to	ADP
fbem-11083	25	20	25.82	25.82	NUM
fbem-11083	25	21	%	%	NOUN
fbem-11083	25	22	in	in	ADP
fbem-11083	25	23	2019	2019	NUM
fbem-11083	25	24	,	,	PUNCT
fbem-11083	25	25	after	after	ADP
fbem-11083	25	26	which	which	PRON
fbem-11083	25	27	it	it	PRON
fbem-11083	25	28	stabilized	stabilize	VERB
fbem-11083	25	29	.	.	PUNCT
fbem-11083	26	1	in	in	ADP
fbem-11083	26	2	2017	2017	NUM
fbem-11083	26	3	,	,	PUNCT
fbem-11083	26	4	the	the	DET
fbem-11083	26	5	net	net	ADJ
fbem-11083	26	6	profit	profit	NOUN
fbem-11083	26	7	amounted	amount	VERB
fbem-11083	26	8	to	to	ADP
fbem-11083	26	9	10,085.97	10,085.97	NUM
fbem-11083	26	10	million	million	NUM
fbem-11083	26	11	yuan	yuan	NOUN
fbem-11083	26	12	,	,	PUNCT
fbem-11083	26	13	and	and	CCONJ
fbem-11083	26	14	it	it	PRON
fbem-11083	26	15	experienced	experience	VERB
fbem-11083	26	16	an	an	DET
fbem-11083	26	17	impressive	impressive	ADJ
fbem-11083	26	18	growth	growth	NOUN
fbem-11083	26	19	rate	rate	NOUN
fbem-11083	26	20	of	of	ADP
fbem-11083	26	21	80.73	80.73	NUM
fbem-11083	26	22	%	%	NOUN
fbem-11083	26	23	,	,	PUNCT
fbem-11083	26	24	reaching	reach	VERB
fbem-11083	26	25	18,228.26	18,228.26	NUM
fbem-11083	26	26	million	million	NUM
fbem-11083	26	27	yuan	yuan	NOUN
fbem-11083	26	28	in	in	ADP
fbem-11083	26	29	2019	2019	NUM
fbem-11083	26	30	.	.	PUNCT
fbem-11083	27	1	similarly	similarly	ADV
fbem-11083	27	2	,	,	PUNCT
fbem-11083	27	3	the	the	DET
fbem-11083	27	4	average	average	ADJ
fbem-11083	27	5	equity	equity	NOUN
fbem-11083	27	6	for	for	ADP
fbem-11083	27	7	these	these	DET
fbem-11083	27	8	years	year	NOUN
fbem-11083	27	9	witnessed	witness	VERB
fbem-11083	27	10	a	a	DET
fbem-11083	27	11	substantial	substantial	ADJ
fbem-11083	27	12	year	year	NOUN
fbem-11083	27	13	-	-	PUNCT
fbem-11083	27	14	on	on	ADP
fbem-11083	27	15	-	-	PUNCT
fbem-11083	27	16	year	year	NOUN
fbem-11083	27	17	growth	growth	NOUN
fbem-11083	27	18	rate	rate	NOUN
fbem-11083	27	19	of	of	ADP
fbem-11083	27	20	37.26	37.26	NUM
fbem-11083	27	21	%	%	NOUN
fbem-11083	27	22	,	,	PUNCT
fbem-11083	27	23	amounting	amount	VERB
fbem-11083	27	24	to	to	ADP
fbem-11083	27	25	51,440.09	51,440.09	NUM
fbem-11083	27	26	million	million	NUM
fbem-11083	27	27	yuan	yuan	NOUN
fbem-11083	27	28	and	and	CCONJ
fbem-11083	27	29	70,607.74	70,607.74	NUM
fbem-11083	27	30	million	million	NUM
fbem-11083	27	31	yuan	yuan	NOUN
fbem-11083	27	32	,	,	PUNCT
fbem-11083	27	33	respectively	respectively	ADV
fbem-11083	27	34	.	.	PUNCT
fbem-11083	28	1	consequently	consequently	ADV
fbem-11083	28	2	,	,	PUNCT
fbem-11083	28	3	the	the	DET
fbem-11083	28	4	primary	primary	ADJ
fbem-11083	28	5	reason	reason	NOUN
fbem-11083	28	6	for	for	ADP
fbem-11083	28	7	the	the	DET
fbem-11083	28	8	upsurge	upsurge	NOUN
fbem-11083	28	9	in	in	ADP
fbem-11083	28	10	roe	roe	NOUN
fbem-11083	28	11	during	during	ADP
fbem-11083	28	12	this	this	DET
fbem-11083	28	13	period	period	NOUN
fbem-11083	28	14	for	for	ADP
fbem-11083	28	15	wuliangye	wuliangye	NOUN
fbem-11083	28	16	was	be	AUX
fbem-11083	28	17	attributed	attribute	VERB
fbem-11083	28	18	to	to	ADP
fbem-11083	28	19	the	the	DET
fbem-11083	28	20	significant	significant	ADJ
fbem-11083	28	21	growth	growth	NOUN
fbem-11083	28	22	in	in	ADP
fbem-11083	28	23	net	net	ADJ
fbem-11083	28	24	profit	profit	NOUN
fbem-11083	28	25	.	.	PUNCT
fbem-11083	29	1	from	from	ADP
fbem-11083	29	2	2019	2019	NUM
fbem-11083	29	3	to	to	ADP
fbem-11083	29	4	2021	2021	NUM
fbem-11083	29	5	,	,	PUNCT
fbem-11083	29	6	the	the	DET
fbem-11083	29	7	roe	roe	NOUN
fbem-11083	29	8	remained	remain	VERB
fbem-11083	29	9	relatively	relatively	ADV
fbem-11083	29	10	stable	stable	ADJ
fbem-11083	29	11	,	,	PUNCT
fbem-11083	29	12	with	with	ADP
fbem-11083	29	13	values	value	NOUN
fbem-11083	29	14	of	of	ADP
fbem-11083	29	15	25.82	25.82	NUM
fbem-11083	29	16	%	%	NOUN
fbem-11083	29	17	,	,	PUNCT
fbem-11083	29	18	25.53	25.53	NUM
fbem-11083	29	19	%	%	NOUN
fbem-11083	29	20	,	,	PUNCT
fbem-11083	29	21	and	and	CCONJ
fbem-11083	29	22	25.91	25.91	NUM
fbem-11083	29	23	%	%	NOUN
fbem-11083	29	24	,	,	PUNCT
fbem-11083	29	25	respectively	respectively	ADV
fbem-11083	29	26	.	.	PUNCT
fbem-11083	30	1	in	in	ADP
fbem-11083	30	2	conclusion	conclusion	NOUN
fbem-11083	30	3	,	,	PUNCT
fbem-11083	30	4	in	in	ADP
fbem-11083	30	5	terms	term	NOUN
fbem-11083	30	6	of	of	ADP
fbem-11083	30	7	return	return	NOUN
fbem-11083	30	8	on	on	ADP
fbem-11083	30	9	equity	equity	NOUN
fbem-11083	30	10	,	,	PUNCT
fbem-11083	30	11	wuliangye	wuliangye	VERB
fbem-11083	30	12	383	383	NUM
fbem-11083	30	13	exhibits	exhibit	VERB
fbem-11083	30	14	comparatively	comparatively	ADV
fbem-11083	30	15	lower	low	ADJ
fbem-11083	30	16	profitability	profitability	NOUN
fbem-11083	30	17	than	than	ADP
fbem-11083	30	18	guizhou	guizhou	PROPN
fbem-11083	30	19	maotai	maotai	PROPN
fbem-11083	30	20	,	,	PUNCT
fbem-11083	30	21	indicating	indicate	VERB
fbem-11083	30	22	relatively	relatively	ADV
fbem-11083	30	23	weaker	weak	ADJ
fbem-11083	30	24	performance	performance	NOUN
fbem-11083	30	25	from	from	ADP
fbem-11083	30	26	the	the	DET
fbem-11083	30	27	perspective	perspective	NOUN
fbem-11083	30	28	of	of	ADP
fbem-11083	30	29	equity	equity	NOUN
fbem-11083	30	30	returns	return	NOUN
fbem-11083	30	31	.	.	PUNCT
fbem-11083	31	1	table	table	NOUN
fbem-11083	31	2	2.1.1.1	2.1.1.1	NUM
fbem-11083	31	3	return	return	NOUN
fbem-11083	31	4	on	on	ADP
fbem-11083	31	5	equity	equity	NOUN
fbem-11083	31	6	(	(	PUNCT
fbem-11083	31	7	roe	roe	NOUN
fbem-11083	31	8	)	)	PUNCT
fbem-11083	31	9	indicators	indicator	NOUN
fbem-11083	31	10	for	for	ADP
fbem-11083	31	11	guizhou	guizhou	PROPN
fbem-11083	31	12	maotai	maotai	PROPN
fbem-11083	31	13	year	year	NOUN
fbem-11083	31	14	2017	2017	NUM
fbem-11083	31	15	2018	2018	NUM
fbem-11083	31	16	2019	2019	NUM
fbem-11083	31	17	2020	2020	NUM
fbem-11083	31	18	2021	2021	NUM
fbem-11083	31	19	index	index	NOUN
fbem-11083	31	20	33.74	33.74	NUM
fbem-11083	31	21	%	%	NOUN
fbem-11083	31	22	35.45	35.45	NUM
fbem-11083	31	23	%	%	NOUN
fbem-11083	31	24	33.92	33.92	NUM
fbem-11083	31	25	%	%	NOUN
fbem-11083	31	26	31.99	31.99	NUM
fbem-11083	31	27	%	%	NOUN
fbem-11083	31	28	30.56	30.56	NUM
fbem-11083	31	29	%	%	NOUN
fbem-11083	31	30	table	table	NOUN
fbem-11083	31	31	2.1.1.2	2.1.1.2	NUM
fbem-11083	31	32	return	return	NOUN
fbem-11083	31	33	on	on	ADP
fbem-11083	31	34	equity	equity	NOUN
fbem-11083	31	35	(	(	PUNCT
fbem-11083	31	36	roe	roe	NOUN
fbem-11083	31	37	)	)	PUNCT
fbem-11083	31	38	indicators	indicator	NOUN
fbem-11083	31	39	for	for	ADP
fbem-11083	31	40	wuliangye	wuliangye	NOUN
fbem-11083	31	41	year	year	NOUN
fbem-11083	31	42	2017	2017	NUM
fbem-11083	31	43	2018	2018	NUM
fbem-11083	31	44	2019	2019	NUM
fbem-11083	31	45	2020	2020	NUM
fbem-11083	31	46	2021	2021	NUM
fbem-11083	31	47	index	index	NOUN
fbem-11083	31	48	19.61	19.61	NUM
fbem-11083	31	49	%	%	NOUN
fbem-11083	31	50	23.44	23.44	NUM
fbem-11083	31	51	%	%	NOUN
fbem-11083	31	52	25.82	25.82	NUM
fbem-11083	31	53	%	%	NOUN
fbem-11083	31	54	25.53	25.53	NUM
fbem-11083	31	55	%	%	NOUN
fbem-11083	31	56	25.91	25.91	NUM
fbem-11083	31	57	%	%	NOUN
fbem-11083	31	58	data	datum	NOUN
fbem-11083	31	59	source	source	NOUN
fbem-11083	31	60	:	:	PUNCT
fbem-11083	31	61	csmar	csmar	PROPN
fbem-11083	31	62	figure	figure	VERB
fbem-11083	31	63	2.1.1	2.1.1	NOUN
fbem-11083	31	64	:	:	PUNCT
fbem-11083	31	65	trend	trend	NOUN
fbem-11083	31	66	of	of	ADP
fbem-11083	31	67	return	return	NOUN
fbem-11083	31	68	on	on	ADP
fbem-11083	31	69	equity	equity	NOUN
fbem-11083	31	70	(	(	PUNCT
fbem-11083	31	71	roe	roe	PROPN
fbem-11083	31	72	)	)	PUNCT
fbem-11083	31	73	2.1.2	2.1.2	NUM
fbem-11083	31	74	.	.	PUNCT
fbem-11083	31	75	comparative	comparative	ADJ
fbem-11083	31	76	analysis	analysis	NOUN
fbem-11083	31	77	of	of	ADP
fbem-11083	31	78	operating	operate	VERB
fbem-11083	31	79	profit	profit	NOUN
fbem-11083	31	80	margin	margin	NOUN
fbem-11083	31	81	the	the	DET
fbem-11083	31	82	operating	operate	VERB
fbem-11083	31	83	profit	profit	NOUN
fbem-11083	31	84	margin	margin	NOUN
fbem-11083	31	85	,	,	PUNCT
fbem-11083	31	86	calculated	calculate	VERB
fbem-11083	31	87	as	as	ADP
fbem-11083	31	88	(	(	PUNCT
fbem-11083	31	89	operating	operate	VERB
fbem-11083	31	90	profit	profit	NOUN
fbem-11083	31	91	/	/	SYM
fbem-11083	31	92	operating	operate	VERB
fbem-11083	31	93	revenue	revenue	NOUN
fbem-11083	31	94	)	)	PUNCT
fbem-11083	32	1	*	*	PUNCT
fbem-11083	32	2	100	100	NUM
fbem-11083	32	3	%	%	NOUN
fbem-11083	32	4	,	,	PUNCT
fbem-11083	32	5	serves	serve	VERB
fbem-11083	32	6	as	as	ADP
fbem-11083	32	7	a	a	DET
fbem-11083	32	8	crucial	crucial	ADJ
fbem-11083	32	9	indicator	indicator	NOUN
fbem-11083	32	10	of	of	ADP
fbem-11083	32	11	a	a	DET
fbem-11083	32	12	company	company	NOUN
fbem-11083	32	13	's	's	PART
fbem-11083	32	14	capacity	capacity	NOUN
fbem-11083	32	15	to	to	PART
fbem-11083	32	16	generate	generate	VERB
fbem-11083	32	17	profits	profit	NOUN
fbem-11083	32	18	through	through	ADP
fbem-11083	32	19	its	its	PRON
fbem-11083	32	20	core	core	ADJ
fbem-11083	32	21	business	business	NOUN
fbem-11083	32	22	activities	activity	NOUN
fbem-11083	32	23	,	,	PUNCT
fbem-11083	32	24	with	with	ADP
fbem-11083	32	25	higher	high	ADJ
fbem-11083	32	26	margins	margin	NOUN
fbem-11083	32	27	denoting	denote	VERB
fbem-11083	32	28	stronger	strong	ADJ
fbem-11083	32	29	profitability	profitability	NOUN
fbem-11083	32	30	.	.	PUNCT
fbem-11083	33	1	operating	operate	VERB
fbem-11083	33	2	profit	profit	NOUN
fbem-11083	33	3	constitutes	constitute	VERB
fbem-11083	33	4	the	the	DET
fbem-11083	33	5	fundamental	fundamental	ADJ
fbem-11083	33	6	outcome	outcome	NOUN
fbem-11083	33	7	of	of	ADP
fbem-11083	33	8	a	a	DET
fbem-11083	33	9	company	company	NOUN
fbem-11083	33	10	's	's	PART
fbem-11083	33	11	operational	operational	ADJ
fbem-11083	33	12	endeavors	endeavor	NOUN
fbem-11083	33	13	,	,	PUNCT
fbem-11083	33	14	representing	represent	VERB
fbem-11083	33	15	the	the	DET
fbem-11083	33	16	primary	primary	ADJ
fbem-11083	33	17	and	and	CCONJ
fbem-11083	33	18	most	most	ADV
fbem-11083	33	19	stable	stable	ADJ
fbem-11083	33	20	source	source	NOUN
fbem-11083	33	21	of	of	ADP
fbem-11083	33	22	profits	profit	NOUN
fbem-11083	33	23	over	over	ADP
fbem-11083	33	24	a	a	DET
fbem-11083	33	25	given	give	VERB
fbem-11083	33	26	period	period	NOUN
fbem-11083	33	27	.	.	PUNCT
fbem-11083	34	1	drawing	draw	VERB
fbem-11083	34	2	upon	upon	SCONJ
fbem-11083	34	3	the	the	DET
fbem-11083	34	4	analysis	analysis	NOUN
fbem-11083	34	5	presented	present	VERB
fbem-11083	34	6	in	in	ADP
fbem-11083	34	7	table	table	NOUN
fbem-11083	34	8	2.1.2.1	2.1.2.1	NUM
fbem-11083	34	9	and	and	CCONJ
fbem-11083	34	10	figure	figure	VERB
fbem-11083	34	11	2.1.2	2.1.2	NUM
fbem-11083	34	12	,	,	PUNCT
fbem-11083	34	13	a	a	DET
fbem-11083	34	14	discernible	discernible	ADJ
fbem-11083	34	15	upward	upward	ADJ
fbem-11083	34	16	trend	trend	NOUN
fbem-11083	34	17	in	in	ADP
fbem-11083	34	18	guizhou	guizhou	PROPN
fbem-11083	34	19	maotai	maotai	PROPN
fbem-11083	34	20	's	's	PART
fbem-11083	34	21	operating	operate	VERB
fbem-11083	34	22	profit	profit	NOUN
fbem-11083	34	23	margin	margin	NOUN
fbem-11083	34	24	is	be	AUX
fbem-11083	34	25	evident	evident	ADJ
fbem-11083	34	26	from	from	ADP
fbem-11083	34	27	2017	2017	NUM
fbem-11083	34	28	to	to	ADP
fbem-11083	34	29	2021	2021	NUM
fbem-11083	34	30	.	.	PUNCT
fbem-11083	35	1	over	over	ADP
fbem-11083	35	2	this	this	DET
fbem-11083	35	3	period	period	NOUN
fbem-11083	35	4	,	,	PUNCT
fbem-11083	35	5	the	the	DET
fbem-11083	35	6	operating	operate	VERB
fbem-11083	35	7	profit	profit	NOUN
fbem-11083	35	8	margin	margin	NOUN
fbem-11083	35	9	for	for	ADP
fbem-11083	35	10	guizhou	guizhou	PROPN
fbem-11083	35	11	maotai	maotai	PROPN
fbem-11083	35	12	recorded	record	VERB
fbem-11083	35	13	values	value	NOUN
fbem-11083	35	14	of	of	ADP
fbem-11083	35	15	66.89	66.89	NUM
fbem-11083	35	16	%	%	NOUN
fbem-11083	35	17	,	,	PUNCT
fbem-11083	35	18	69.72	69.72	NUM
fbem-11083	35	19	%	%	NOUN
fbem-11083	35	20	,	,	PUNCT
fbem-11083	35	21	69.11	69.11	NUM
fbem-11083	35	22	%	%	NOUN
fbem-11083	35	23	,	,	PUNCT
fbem-11083	35	24	70.2	70.2	NUM
fbem-11083	35	25	%	%	NOUN
fbem-11083	35	26	,	,	PUNCT
fbem-11083	35	27	and	and	CCONJ
fbem-11083	35	28	70.39	70.39	NUM
fbem-11083	35	29	%	%	NOUN
fbem-11083	35	30	,	,	PUNCT
fbem-11083	35	31	respectively	respectively	ADV
fbem-11083	35	32	.	.	PUNCT
fbem-11083	36	1	simultaneously	simultaneously	ADV
fbem-11083	36	2	,	,	PUNCT
fbem-11083	36	3	the	the	DET
fbem-11083	36	4	operating	operate	VERB
fbem-11083	36	5	profit	profit	NOUN
fbem-11083	36	6	displayed	display	VERB
fbem-11083	36	7	substantial	substantial	ADJ
fbem-11083	36	8	year	year	NOUN
fbem-11083	36	9	-	-	PUNCT
fbem-11083	36	10	on	on	ADP
fbem-11083	36	11	-	-	PUNCT
fbem-11083	36	12	year	year	NOUN
fbem-11083	36	13	growth	growth	NOUN
fbem-11083	36	14	rates	rate	NOUN
fbem-11083	36	15	of	of	ADP
fbem-11083	36	16	60.47	60.47	NUM
fbem-11083	36	17	%	%	NOUN
fbem-11083	36	18	,	,	PUNCT
fbem-11083	36	19	31.85	31.85	NUM
fbem-11083	36	20	%	%	NOUN
fbem-11083	36	21	,	,	PUNCT
fbem-11083	36	22	14.99	14.99	NUM
fbem-11083	36	23	%	%	NOUN
fbem-11083	36	24	,	,	PUNCT
fbem-11083	36	25	12.86	12.86	NUM
fbem-11083	36	26	%	%	NOUN
fbem-11083	36	27	,	,	PUNCT
fbem-11083	36	28	and	and	CCONJ
fbem-11083	36	29	12.18	12.18	NUM
fbem-11083	36	30	%	%	NOUN
fbem-11083	36	31	,	,	PUNCT
fbem-11083	36	32	while	while	SCONJ
fbem-11083	36	33	the	the	DET
fbem-11083	36	34	operating	operating	NOUN
fbem-11083	36	35	revenue	revenue	NOUN
fbem-11083	36	36	showcased	showcase	VERB
fbem-11083	36	37	growth	growth	NOUN
fbem-11083	36	38	rates	rate	NOUN
fbem-11083	36	39	of	of	ADP
fbem-11083	36	40	49.81	49.81	NUM
fbem-11083	36	41	%	%	NOUN
fbem-11083	36	42	,	,	PUNCT
fbem-11083	36	43	26.49	26.49	NUM
fbem-11083	36	44	%	%	NOUN
fbem-11083	36	45	,	,	PUNCT
fbem-11083	36	46	16.01	16.01	NUM
fbem-11083	36	47	%	%	NOUN
fbem-11083	36	48	,	,	PUNCT
fbem-11083	36	49	11.10	11.10	NUM
fbem-11083	36	50	%	%	NOUN
fbem-11083	36	51	,	,	PUNCT
fbem-11083	36	52	and	and	CCONJ
fbem-11083	36	53	11.88	11.88	NUM
fbem-11083	36	54	%	%	NOUN
fbem-11083	36	55	,	,	PUNCT
fbem-11083	36	56	respectively	respectively	ADV
fbem-11083	36	57	.	.	PUNCT
fbem-11083	37	1	the	the	DET
fbem-11083	37	2	analysis	analysis	NOUN
fbem-11083	37	3	reveals	reveal	VERB
fbem-11083	37	4	a	a	DET
fbem-11083	37	5	favorable	favorable	ADJ
fbem-11083	37	6	trajectory	trajectory	NOUN
fbem-11083	37	7	for	for	ADP
fbem-11083	37	8	both	both	CCONJ
fbem-11083	37	9	the	the	DET
fbem-11083	37	10	operating	operating	NOUN
fbem-11083	37	11	profit	profit	NOUN
fbem-11083	37	12	and	and	CCONJ
fbem-11083	37	13	operating	operating	NOUN
fbem-11083	37	14	revenue	revenue	NOUN
fbem-11083	37	15	during	during	ADP
fbem-11083	37	16	this	this	DET
fbem-11083	37	17	interval	interval	NOUN
fbem-11083	37	18	.	.	PUNCT
fbem-11083	38	1	the	the	DET
fbem-11083	38	2	surge	surge	NOUN
fbem-11083	38	3	in	in	ADP
fbem-11083	38	4	the	the	DET
fbem-11083	38	5	operating	operate	VERB
fbem-11083	38	6	profit	profit	NOUN
fbem-11083	38	7	margin	margin	NOUN
fbem-11083	38	8	can	can	AUX
fbem-11083	38	9	be	be	AUX
fbem-11083	38	10	attributed	attribute	VERB
fbem-11083	38	11	to	to	ADP
fbem-11083	38	12	the	the	DET
fbem-11083	38	13	relatively	relatively	ADV
fbem-11083	38	14	faster	fast	ADJ
fbem-11083	38	15	growth	growth	NOUN
fbem-11083	38	16	rate	rate	NOUN
fbem-11083	38	17	of	of	ADP
fbem-11083	38	18	operating	operate	VERB
fbem-11083	38	19	profit	profit	NOUN
fbem-11083	38	20	compared	compare	VERB
fbem-11083	38	21	to	to	ADP
fbem-11083	38	22	operating	operate	VERB
fbem-11083	38	23	revenue	revenue	NOUN
fbem-11083	38	24	,	,	PUNCT
fbem-11083	38	25	signifying	signify	VERB
fbem-11083	38	26	robust	robust	ADJ
fbem-11083	38	27	profitability	profitability	NOUN
fbem-11083	38	28	for	for	ADP
fbem-11083	38	29	guizhou	guizhou	NOUN
fbem-11083	38	30	maotai	maotai	PROPN
fbem-11083	38	31	throughout	throughout	ADP
fbem-11083	38	32	this	this	DET
fbem-11083	38	33	period	period	NOUN
fbem-11083	38	34	.	.	PUNCT
fbem-11083	39	1	as	as	SCONJ
fbem-11083	39	2	depicted	depict	VERB
fbem-11083	39	3	in	in	ADP
fbem-11083	39	4	table	table	NOUN
fbem-11083	39	5	2.1.2.2	2.1.2.2	NUM
fbem-11083	39	6	and	and	CCONJ
fbem-11083	39	7	figure	figure	VERB
fbem-11083	39	8	2.1.2	2.1.2	NUM
fbem-11083	39	9	,	,	PUNCT
fbem-11083	39	10	wuliangye	wuliangye	NOUN
fbem-11083	39	11	experienced	experience	VERB
fbem-11083	39	12	a	a	DET
fbem-11083	39	13	rapid	rapid	ADJ
fbem-11083	39	14	increase	increase	NOUN
fbem-11083	39	15	in	in	ADP
fbem-11083	39	16	the	the	DET
fbem-11083	39	17	operating	operate	VERB
fbem-11083	39	18	profit	profit	NOUN
fbem-11083	39	19	margin	margin	NOUN
fbem-11083	39	20	from	from	ADP
fbem-11083	39	21	2017	2017	NUM
fbem-11083	39	22	to	to	ADP
fbem-11083	39	23	2021	2021	NUM
fbem-11083	39	24	.	.	PUNCT
fbem-11083	40	1	following	follow	VERB
fbem-11083	40	2	a	a	DET
fbem-11083	40	3	rebound	rebound	NOUN
fbem-11083	40	4	in	in	ADP
fbem-11083	40	5	2016	2016	NUM
fbem-11083	40	6	,	,	PUNCT
fbem-11083	40	7	both	both	CCONJ
fbem-11083	40	8	the	the	DET
fbem-11083	40	9	operating	operating	NOUN
fbem-11083	40	10	revenue	revenue	NOUN
fbem-11083	40	11	and	and	CCONJ
fbem-11083	40	12	operating	operating	NOUN
fbem-11083	40	13	profit	profit	NOUN
fbem-11083	40	14	demonstrated	demonstrate	VERB
fbem-11083	40	15	consistent	consistent	ADJ
fbem-11083	40	16	growth	growth	NOUN
fbem-11083	40	17	.	.	PUNCT
fbem-11083	41	1	for	for	ADP
fbem-11083	41	2	the	the	DET
fbem-11083	41	3	years	year	NOUN
fbem-11083	41	4	2017	2017	NUM
fbem-11083	41	5	to	to	ADP
fbem-11083	41	6	2021	2021	NUM
fbem-11083	41	7	,	,	PUNCT
fbem-11083	41	8	wuliangye	wuliangye	PROPN
fbem-11083	41	9	's	's	PART
fbem-11083	41	10	operating	operate	VERB
fbem-11083	41	11	profit	profit	NOUN
fbem-11083	41	12	margin	margin	NOUN
fbem-11083	41	13	displayed	display	VERB
fbem-11083	41	14	values	value	NOUN
fbem-11083	41	15	of	of	ADP
fbem-11083	41	16	44.31	44.31	NUM
fbem-11083	41	17	%	%	NOUN
fbem-11083	41	18	,	,	PUNCT
fbem-11083	41	19	46.76	46.76	NUM
fbem-11083	41	20	%	%	NOUN
fbem-11083	41	21	,	,	PUNCT
fbem-11083	41	22	48.38	48.38	NUM
fbem-11083	41	23	%	%	NOUN
fbem-11083	41	24	,	,	PUNCT
fbem-11083	41	25	48.54	48.54	NUM
fbem-11083	41	26	%	%	NOUN
fbem-11083	41	27	,	,	PUNCT
fbem-11083	41	28	and	and	CCONJ
fbem-11083	41	29	49.17	49.17	NUM
fbem-11083	41	30	%	%	NOUN
fbem-11083	41	31	,	,	PUNCT
fbem-11083	41	32	respectively	respectively	ADV
fbem-11083	41	33	.	.	PUNCT
fbem-11083	42	1	remarkably	remarkably	ADV
fbem-11083	42	2	,	,	PUNCT
fbem-11083	42	3	the	the	DET
fbem-11083	42	4	calculated	calculated	ADJ
fbem-11083	42	5	growth	growth	NOUN
fbem-11083	42	6	rates	rate	NOUN
fbem-11083	42	7	of	of	ADP
fbem-11083	42	8	operating	operate	VERB
fbem-11083	42	9	revenue	revenue	NOUN
fbem-11083	42	10	and	and	CCONJ
fbem-11083	42	11	operating	operating	NOUN
fbem-11083	42	12	profit	profit	NOUN
fbem-11083	42	13	amounted	amount	VERB
fbem-11083	42	14	to	to	ADP
fbem-11083	42	15	119.33	119.33	NUM
fbem-11083	42	16	%	%	NOUN
fbem-11083	42	17	and	and	CCONJ
fbem-11083	42	18	252.41	252.41	NUM
fbem-11083	42	19	%	%	NOUN
fbem-11083	42	20	,	,	PUNCT
fbem-11083	42	21	respectively	respectively	ADV
fbem-11083	42	22	.	.	PUNCT
fbem-11083	43	1	consequently	consequently	ADV
fbem-11083	43	2	,	,	PUNCT
fbem-11083	43	3	the	the	DET
fbem-11083	43	4	principal	principal	ADJ
fbem-11083	43	5	catalyst	catalyst	NOUN
fbem-11083	43	6	for	for	ADP
fbem-11083	43	7	the	the	DET
fbem-11083	43	8	ascension	ascension	NOUN
fbem-11083	43	9	of	of	ADP
fbem-11083	43	10	the	the	DET
fbem-11083	43	11	operating	operate	VERB
fbem-11083	43	12	profit	profit	NOUN
fbem-11083	43	13	margin	margin	NOUN
fbem-11083	43	14	was	be	AUX
fbem-11083	43	15	the	the	DET
fbem-11083	43	16	substantial	substantial	ADJ
fbem-11083	43	17	upswing	upswing	NOUN
fbem-11083	43	18	in	in	ADP
fbem-11083	43	19	operating	operating	NOUN
fbem-11083	43	20	profit	profit	NOUN
fbem-11083	43	21	.	.	PUNCT
fbem-11083	44	1	comparing	compare	VERB
fbem-11083	44	2	the	the	DET
fbem-11083	44	3	operating	operate	VERB
fbem-11083	44	4	profit	profit	NOUN
fbem-11083	44	5	margin	margin	NOUN
fbem-11083	44	6	of	of	ADP
fbem-11083	44	7	both	both	DET
fbem-11083	44	8	companies	company	NOUN
fbem-11083	44	9	,	,	PUNCT
fbem-11083	44	10	it	it	PRON
fbem-11083	44	11	becomes	become	VERB
fbem-11083	44	12	evident	evident	ADJ
fbem-11083	44	13	that	that	SCONJ
fbem-11083	44	14	guizhou	guizhou	PROPN
fbem-11083	44	15	maotai	maotai	PROPN
fbem-11083	44	16	maintains	maintain	VERB
fbem-11083	44	17	a	a	DET
fbem-11083	44	18	more	more	ADV
fbem-11083	44	19	robust	robust	ADJ
fbem-11083	44	20	profitability	profitability	NOUN
fbem-11083	44	21	.	.	PUNCT
fbem-11083	45	1	while	while	SCONJ
fbem-11083	45	2	wuliangye	wuliangye	NOUN
fbem-11083	45	3	showcased	showcase	VERB
fbem-11083	45	4	a	a	DET
fbem-11083	45	5	resurgence	resurgence	NOUN
fbem-11083	45	6	in	in	ADP
fbem-11083	45	7	2016	2016	NUM
fbem-11083	45	8	and	and	CCONJ
fbem-11083	45	9	sustained	sustain	VERB
fbem-11083	45	10	an	an	DET
fbem-11083	45	11	upward	upward	ADJ
fbem-11083	45	12	trend	trend	NOUN
fbem-11083	45	13	in	in	ADP
fbem-11083	45	14	the	the	DET
fbem-11083	45	15	operating	operate	VERB
fbem-11083	45	16	profit	profit	NOUN
fbem-11083	45	17	margin	margin	NOUN
fbem-11083	45	18	,	,	PUNCT
fbem-11083	45	19	guizhou	guizhou	PROPN
fbem-11083	45	20	maotai	maotai	PROPN
fbem-11083	45	21	consistently	consistently	ADV
fbem-11083	45	22	demonstrated	demonstrate	VERB
fbem-11083	45	23	a	a	DET
fbem-11083	45	24	strong	strong	ADJ
fbem-11083	45	25	and	and	CCONJ
fbem-11083	45	26	resilient	resilient	ADJ
fbem-11083	45	27	profitability	profitability	NOUN
fbem-11083	45	28	throughout	throughout	ADP
fbem-11083	45	29	the	the	DET
fbem-11083	45	30	considered	consider	VERB
fbem-11083	45	31	period	period	NOUN
fbem-11083	45	32	.	.	PUNCT
fbem-11083	46	1	table	table	NOUN
fbem-11083	46	2	2.1.2.1	2.1.2.1	NUM
fbem-11083	46	3	:	:	PUNCT
fbem-11083	46	4	operating	operate	VERB
fbem-11083	46	5	profit	profit	NOUN
fbem-11083	46	6	margin	margin	NOUN
fbem-11083	46	7	indicators	indicator	NOUN
fbem-11083	46	8	for	for	ADP
fbem-11083	46	9	guizhou	guizhou	PROPN
fbem-11083	46	10	maotai	maotai	PROPN
fbem-11083	46	11	year	year	NOUN
fbem-11083	46	12	2017	2017	NUM
fbem-11083	46	13	2018	2018	NUM
fbem-11083	46	14	2019	2019	NUM
fbem-11083	46	15	2020	2020	NUM
fbem-11083	46	16	2021	2021	NUM
fbem-11083	46	17	index	index	NOUN
fbem-11083	46	18	66.89	66.89	NUM
fbem-11083	46	19	%	%	NOUN
fbem-11083	46	20	69.72	69.72	NUM
fbem-11083	46	21	%	%	NOUN
fbem-11083	46	22	69.11	69.11	NUM
fbem-11083	46	23	%	%	NOUN
fbem-11083	46	24	70.2	70.2	NUM
fbem-11083	46	25	%	%	NOUN
fbem-11083	46	26	70.39	70.39	NUM
fbem-11083	46	27	%	%	NOUN
fbem-11083	46	28	0.00	0.00	NUM
fbem-11083	46	29	%	%	NOUN
fbem-11083	46	30	5.00	5.00	NUM
fbem-11083	46	31	%	%	NOUN
fbem-11083	46	32	10.00	10.00	NUM
fbem-11083	46	33	%	%	NOUN
fbem-11083	46	34	15.00	15.00	NUM
fbem-11083	46	35	%	%	NOUN
fbem-11083	46	36	20.00	20.00	NUM
fbem-11083	46	37	%	%	NOUN
fbem-11083	46	38	25.00	25.00	NUM
fbem-11083	46	39	%	%	NOUN
fbem-11083	46	40	30.00	30.00	NUM
fbem-11083	46	41	%	%	NOUN
fbem-11083	46	42	35.00	35.00	NUM
fbem-11083	46	43	%	%	NOUN
fbem-11083	46	44	40.00	40.00	NUM
fbem-11083	46	45	%	%	NOUN
fbem-11083	46	46	2017	2017	NUM
fbem-11083	46	47	2018	2018	NUM
fbem-11083	46	48	2019	2019	NUM
fbem-11083	46	49	2020	2020	NUM
fbem-11083	46	50	2021	2021	NUM
fbem-11083	46	51	return	return	NOUN
fbem-11083	46	52	on	on	ADP
fbem-11083	46	53	equity	equity	NOUN
fbem-11083	46	54	the	the	DET
fbem-11083	46	55	roe	roe	NOUN
fbem-11083	46	56	for	for	ADP
fbem-11083	46	57	guizhou	guizhou	PROPN
fbem-11083	46	58	maotai（%	maotai（%	PROPN
fbem-11083	46	59	）	）	PROPN
fbem-11083	47	1	the	the	DET
fbem-11083	47	2	roe	roe	NOUN
fbem-11083	47	3	for	for	ADP
fbem-11083	47	4	wuliangye（%	wuliangye（%	NOUN
fbem-11083	47	5	）	）	NOUN
fbem-11083	47	6	384	384	NUM
fbem-11083	47	7	table	table	NOUN
fbem-11083	47	8	2.1.2.2	2.1.2.2	NUM
fbem-11083	47	9	:	:	PUNCT
fbem-11083	47	10	operating	operate	VERB
fbem-11083	47	11	profit	profit	NOUN
fbem-11083	47	12	margin	margin	NOUN
fbem-11083	47	13	indicators	indicator	NOUN
fbem-11083	47	14	for	for	ADP
fbem-11083	47	15	wuliangye	wuliangye	NOUN
fbem-11083	47	16	year	year	NOUN
fbem-11083	47	17	2017	2017	NUM
fbem-11083	47	18	2018	2018	NUM
fbem-11083	47	19	2019	2019	NUM
fbem-11083	47	20	2020	2020	NUM
fbem-11083	47	21	2021	2021	NUM
fbem-11083	47	22	index	index	NOUN
fbem-11083	47	23	44.31	44.31	NUM
fbem-11083	47	24	%	%	NOUN
fbem-11083	47	25	46.76	46.76	NUM
fbem-11083	47	26	%	%	NOUN
fbem-11083	47	27	48.38	48.38	NUM
fbem-11083	47	28	%	%	NOUN
fbem-11083	47	29	48.54	48.54	NUM
fbem-11083	47	30	%	%	NOUN
fbem-11083	47	31	49.17	49.17	NUM
fbem-11083	47	32	%	%	NOUN
fbem-11083	47	33	data	datum	NOUN
fbem-11083	47	34	source	source	NOUN
fbem-11083	47	35	:	:	PUNCT
fbem-11083	47	36	csmar	csmar	PROPN
fbem-11083	47	37	figure	figure	VERB
fbem-11083	47	38	2.1.2	2.1.2	NUM
fbem-11083	47	39	:	:	PUNCT
fbem-11083	47	40	trend	trend	NOUN
fbem-11083	47	41	of	of	ADP
fbem-11083	47	42	operating	operate	VERB
fbem-11083	47	43	profit	profit	NOUN
fbem-11083	47	44	margin	margin	NOUN
fbem-11083	47	45	2.1.3	2.1.3	NUM
fbem-11083	47	46	.	.	PUNCT
fbem-11083	47	47	comparative	comparative	ADJ
fbem-11083	47	48	analysis	analysis	NOUN
fbem-11083	47	49	of	of	ADP
fbem-11083	47	50	cost	cost	NOUN
fbem-11083	47	51	and	and	CCONJ
fbem-11083	47	52	expense	expense	NOUN
fbem-11083	47	53	profit	profit	NOUN
fbem-11083	47	54	margin	margin	NOUN
fbem-11083	47	55	the	the	DET
fbem-11083	47	56	cost	cost	NOUN
fbem-11083	47	57	and	and	CCONJ
fbem-11083	47	58	expense	expense	NOUN
fbem-11083	47	59	profit	profit	NOUN
fbem-11083	47	60	margin	margin	NOUN
fbem-11083	47	61	,	,	PUNCT
fbem-11083	47	62	computed	compute	VERB
fbem-11083	47	63	as	as	ADP
fbem-11083	47	64	(	(	PUNCT
fbem-11083	47	65	net	net	ADJ
fbem-11083	47	66	profit	profit	NOUN
fbem-11083	47	67	/	/	SYM
fbem-11083	47	68	total	total	ADJ
fbem-11083	47	69	cost	cost	NOUN
fbem-11083	47	70	and	and	CCONJ
fbem-11083	47	71	expenses	expense	NOUN
fbem-11083	47	72	)	)	PUNCT
fbem-11083	47	73	*	*	PUNCT
fbem-11083	47	74	100	100	NUM
fbem-11083	47	75	%	%	NOUN
fbem-11083	47	76	,	,	PUNCT
fbem-11083	47	77	serves	serve	VERB
fbem-11083	47	78	as	as	ADP
fbem-11083	47	79	a	a	DET
fbem-11083	47	80	crucial	crucial	ADJ
fbem-11083	47	81	metric	metric	NOUN
fbem-11083	47	82	to	to	PART
fbem-11083	47	83	gauge	gauge	VERB
fbem-11083	47	84	the	the	DET
fbem-11083	47	85	profitability	profitability	NOUN
fbem-11083	47	86	derived	derive	VERB
fbem-11083	47	87	from	from	ADP
fbem-11083	47	88	each	each	DET
fbem-11083	47	89	unit	unit	NOUN
fbem-11083	47	90	of	of	ADP
fbem-11083	47	91	cost	cost	NOUN
fbem-11083	47	92	and	and	CCONJ
fbem-11083	47	93	expense	expense	NOUN
fbem-11083	47	94	incurred	incur	VERB
fbem-11083	47	95	by	by	ADP
fbem-11083	47	96	a	a	DET
fbem-11083	47	97	company	company	NOUN
fbem-11083	47	98	.	.	PUNCT
fbem-11083	48	1	a	a	DET
fbem-11083	48	2	higher	high	ADJ
fbem-11083	48	3	value	value	NOUN
fbem-11083	48	4	of	of	ADP
fbem-11083	48	5	this	this	DET
fbem-11083	48	6	indicator	indicator	NOUN
fbem-11083	48	7	indicates	indicate	VERB
fbem-11083	48	8	that	that	SCONJ
fbem-11083	48	9	the	the	DET
fbem-11083	48	10	company	company	NOUN
fbem-11083	48	11	is	be	AUX
fbem-11083	48	12	achieving	achieve	VERB
fbem-11083	48	13	relatively	relatively	ADV
fbem-11083	48	14	greater	great	ADJ
fbem-11083	48	15	returns	return	NOUN
fbem-11083	48	16	for	for	ADP
fbem-11083	48	17	its	its	PRON
fbem-11083	48	18	incurred	incur	VERB
fbem-11083	48	19	costs	cost	NOUN
fbem-11083	48	20	,	,	PUNCT
fbem-11083	48	21	thus	thus	ADV
fbem-11083	48	22	reflecting	reflect	VERB
fbem-11083	48	23	its	its	PRON
fbem-11083	48	24	superior	superior	ADJ
fbem-11083	48	25	profitability	profitability	NOUN
fbem-11083	48	26	.	.	PUNCT
fbem-11083	49	1	drawing	draw	VERB
fbem-11083	49	2	upon	upon	SCONJ
fbem-11083	49	3	the	the	DET
fbem-11083	49	4	analysis	analysis	NOUN
fbem-11083	49	5	presented	present	VERB
fbem-11083	49	6	in	in	ADP
fbem-11083	49	7	table	table	NOUN
fbem-11083	49	8	2.1.3.1	2.1.3.1	NUM
fbem-11083	49	9	and	and	CCONJ
fbem-11083	49	10	figure	figure	VERB
fbem-11083	49	11	2.1.3	2.1.3	NUM
fbem-11083	49	12	,	,	PUNCT
fbem-11083	49	13	a	a	DET
fbem-11083	49	14	discernible	discernible	ADJ
fbem-11083	49	15	upward	upward	ADJ
fbem-11083	49	16	trend	trend	NOUN
fbem-11083	49	17	in	in	ADP
fbem-11083	49	18	guizhou	guizhou	PROPN
fbem-11083	49	19	maotai	maotai	PROPN
fbem-11083	49	20	's	's	PART
fbem-11083	49	21	cost	cost	NOUN
fbem-11083	49	22	and	and	CCONJ
fbem-11083	49	23	expense	expense	NOUN
fbem-11083	49	24	profit	profit	NOUN
fbem-11083	49	25	margin	margin	NOUN
fbem-11083	49	26	is	be	AUX
fbem-11083	49	27	evident	evident	ADJ
fbem-11083	49	28	from	from	ADP
fbem-11083	49	29	2017	2017	NUM
fbem-11083	49	30	to	to	ADP
fbem-11083	49	31	2021	2021	NUM
fbem-11083	49	32	.	.	PUNCT
fbem-11083	50	1	over	over	ADP
fbem-11083	50	2	this	this	DET
fbem-11083	50	3	period	period	NOUN
fbem-11083	50	4	,	,	PUNCT
fbem-11083	50	5	the	the	DET
fbem-11083	50	6	cost	cost	NOUN
fbem-11083	50	7	and	and	CCONJ
fbem-11083	50	8	expense	expense	NOUN
fbem-11083	50	9	profit	profit	NOUN
fbem-11083	50	10	margin	margin	NOUN
fbem-11083	50	11	for	for	ADP
fbem-11083	50	12	guizhou	guizhou	PROPN
fbem-11083	50	13	maotai	maotai	PROPN
fbem-11083	50	14	exhibited	exhibit	VERB
fbem-11083	50	15	values	value	NOUN
fbem-11083	50	16	of	of	ADP
fbem-11083	50	17	176.13	176.13	NUM
fbem-11083	50	18	%	%	NOUN
fbem-11083	50	19	,	,	PUNCT
fbem-11083	50	20	197.56	197.56	NUM
fbem-11083	50	21	%	%	NOUN
fbem-11083	50	22	,	,	PUNCT
fbem-11083	50	23	198.15	198.15	NUM
fbem-11083	50	24	%	%	NOUN
fbem-11083	50	25	,	,	PUNCT
fbem-11083	50	26	212.21	212.21	NUM
fbem-11083	50	27	%	%	NOUN
fbem-11083	50	28	,	,	PUNCT
fbem-11083	50	29	and	and	CCONJ
fbem-11083	50	30	215.38	215.38	NUM
fbem-11083	50	31	%	%	NOUN
fbem-11083	50	32	,	,	PUNCT
fbem-11083	50	33	respectively	respectively	ADV
fbem-11083	50	34	.	.	PUNCT
fbem-11083	51	1	simultaneously	simultaneously	ADV
fbem-11083	51	2	,	,	PUNCT
fbem-11083	51	3	the	the	DET
fbem-11083	51	4	total	total	ADJ
fbem-11083	51	5	cost	cost	NOUN
fbem-11083	51	6	and	and	CCONJ
fbem-11083	51	7	expenses	expense	NOUN
fbem-11083	51	8	witnessed	witness	VERB
fbem-11083	51	9	yearon	yearon	NOUN
fbem-11083	51	10	-	-	PUNCT
fbem-11083	51	11	year	year	NOUN
fbem-11083	51	12	growth	growth	NOUN
fbem-11083	51	13	rates	rate	NOUN
fbem-11083	51	14	of	of	ADP
fbem-11083	51	15	39.62	39.62	NUM
fbem-11083	51	16	%	%	NOUN
fbem-11083	51	17	,	,	PUNCT
fbem-11083	51	18	16.97	16.97	NUM
fbem-11083	51	19	%	%	NOUN
fbem-11083	51	20	,	,	PUNCT
fbem-11083	51	21	15.31	15.31	NUM
fbem-11083	51	22	%	%	NOUN
fbem-11083	51	23	,	,	PUNCT
fbem-11083	51	24	5.15	5.15	NUM
fbem-11083	51	25	%	%	NOUN
fbem-11083	51	26	,	,	PUNCT
fbem-11083	51	27	and	and	CCONJ
fbem-11083	51	28	10.93	10.93	NUM
fbem-11083	51	29	%	%	NOUN
fbem-11083	51	30	,	,	PUNCT
fbem-11083	51	31	while	while	SCONJ
fbem-11083	51	32	the	the	DET
fbem-11083	51	33	net	net	ADJ
fbem-11083	51	34	profit	profit	NOUN
fbem-11083	51	35	displayed	display	VERB
fbem-11083	51	36	growth	growth	NOUN
fbem-11083	51	37	rates	rate	NOUN
fbem-11083	51	38	of	of	ADP
fbem-11083	51	39	61.70	61.70	NUM
fbem-11083	51	40	%	%	NOUN
fbem-11083	51	41	,	,	PUNCT
fbem-11083	51	42	31.20	31.20	NUM
fbem-11083	51	43	%	%	NOUN
fbem-11083	51	44	,	,	PUNCT
fbem-11083	51	45	15.65	15.65	NUM
fbem-11083	51	46	%	%	NOUN
fbem-11083	51	47	,	,	PUNCT
fbem-11083	51	48	12.61	12.61	NUM
fbem-11083	51	49	%	%	NOUN
fbem-11083	51	50	,	,	PUNCT
fbem-11083	51	51	and	and	CCONJ
fbem-11083	51	52	12.59	12.59	NUM
fbem-11083	51	53	%	%	NOUN
fbem-11083	51	54	,	,	PUNCT
fbem-11083	51	55	respectively	respectively	ADV
fbem-11083	51	56	.	.	PUNCT
fbem-11083	52	1	the	the	DET
fbem-11083	52	2	analysis	analysis	NOUN
fbem-11083	52	3	reveals	reveal	VERB
fbem-11083	52	4	that	that	SCONJ
fbem-11083	52	5	the	the	DET
fbem-11083	52	6	elevation	elevation	NOUN
fbem-11083	52	7	in	in	ADP
fbem-11083	52	8	guizhou	guizhou	PROPN
fbem-11083	52	9	maotai	maotai	PROPN
fbem-11083	52	10	's	's	PART
fbem-11083	52	11	cost	cost	NOUN
fbem-11083	52	12	and	and	CCONJ
fbem-11083	52	13	expense	expense	NOUN
fbem-11083	52	14	profit	profit	NOUN
fbem-11083	52	15	margin	margin	NOUN
fbem-11083	52	16	during	during	ADP
fbem-11083	52	17	this	this	DET
fbem-11083	52	18	period	period	NOUN
fbem-11083	52	19	was	be	AUX
fbem-11083	52	20	primarily	primarily	ADV
fbem-11083	52	21	driven	drive	VERB
fbem-11083	52	22	by	by	ADP
fbem-11083	52	23	a	a	DET
fbem-11083	52	24	substantial	substantial	ADJ
fbem-11083	52	25	surge	surge	NOUN
fbem-11083	52	26	in	in	ADP
fbem-11083	52	27	net	net	ADJ
fbem-11083	52	28	profit	profit	NOUN
fbem-11083	52	29	.	.	PUNCT
fbem-11083	53	1	as	as	SCONJ
fbem-11083	53	2	evidenced	evidence	VERB
fbem-11083	53	3	by	by	ADP
fbem-11083	53	4	table	table	NOUN
fbem-11083	53	5	2.1.3.2	2.1.3.2	NUM
fbem-11083	53	6	and	and	CCONJ
fbem-11083	53	7	figure	figure	VERB
fbem-11083	53	8	2.1.3	2.1.3	NUM
fbem-11083	53	9	,	,	PUNCT
fbem-11083	53	10	wuliangye	wuliangye	PROPN
fbem-11083	53	11	exhibited	exhibit	VERB
fbem-11083	53	12	a	a	DET
fbem-11083	53	13	progressive	progressive	ADJ
fbem-11083	53	14	ascent	ascent	NOUN
fbem-11083	53	15	in	in	ADP
fbem-11083	53	16	the	the	DET
fbem-11083	53	17	cost	cost	NOUN
fbem-11083	53	18	and	and	CCONJ
fbem-11083	53	19	expense	expense	NOUN
fbem-11083	53	20	profit	profit	NOUN
fbem-11083	53	21	margin	margin	NOUN
fbem-11083	53	22	from	from	ADP
fbem-11083	53	23	79.01	79.01	NUM
fbem-11083	53	24	%	%	NOUN
fbem-11083	53	25	in	in	ADP
fbem-11083	53	26	2017	2017	NUM
fbem-11083	53	27	to	to	ADP
fbem-11083	53	28	95.56	95.56	NUM
fbem-11083	53	29	%	%	NOUN
fbem-11083	53	30	in	in	ADP
fbem-11083	53	31	2021	2021	NUM
fbem-11083	53	32	,	,	PUNCT
fbem-11083	53	33	depicting	depict	VERB
fbem-11083	53	34	a	a	DET
fbem-11083	53	35	notable	notable	ADJ
fbem-11083	53	36	growth	growth	NOUN
fbem-11083	53	37	rate	rate	NOUN
fbem-11083	53	38	of	of	ADP
fbem-11083	53	39	20.95	20.95	NUM
fbem-11083	53	40	%	%	NOUN
fbem-11083	53	41	.	.	PUNCT
fbem-11083	54	1	over	over	ADP
fbem-11083	54	2	this	this	DET
fbem-11083	54	3	period	period	NOUN
fbem-11083	54	4	,	,	PUNCT
fbem-11083	54	5	both	both	CCONJ
fbem-11083	54	6	the	the	DET
fbem-11083	54	7	total	total	ADJ
fbem-11083	54	8	cost	cost	NOUN
fbem-11083	54	9	and	and	CCONJ
fbem-11083	54	10	expenses	expense	NOUN
fbem-11083	54	11	and	and	CCONJ
fbem-11083	54	12	the	the	DET
fbem-11083	54	13	net	net	ADJ
fbem-11083	54	14	profit	profit	NOUN
fbem-11083	54	15	showcased	showcase	VERB
fbem-11083	54	16	linear	linear	ADJ
fbem-11083	54	17	growth	growth	NOUN
fbem-11083	54	18	,	,	PUNCT
fbem-11083	54	19	with	with	ADP
fbem-11083	54	20	their	their	PRON
fbem-11083	54	21	respective	respective	ADJ
fbem-11083	54	22	values	value	NOUN
fbem-11083	54	23	closely	closely	ADV
fbem-11083	54	24	converging	converge	VERB
fbem-11083	54	25	.	.	PUNCT
fbem-11083	55	1	specifically	specifically	ADV
fbem-11083	55	2	,	,	PUNCT
fbem-11083	55	3	in	in	ADP
fbem-11083	55	4	2021	2021	NUM
fbem-11083	55	5	,	,	PUNCT
fbem-11083	55	6	the	the	DET
fbem-11083	55	7	total	total	ADJ
fbem-11083	55	8	cost	cost	NOUN
fbem-11083	55	9	and	and	CCONJ
fbem-11083	55	10	expenses	expense	NOUN
fbem-11083	55	11	reached	reach	VERB
fbem-11083	55	12	33,957.66	33,957.66	NUM
fbem-11083	55	13	million	million	NUM
fbem-11083	55	14	yuan	yuan	NOUN
fbem-11083	55	15	,	,	PUNCT
fbem-11083	55	16	reflecting	reflect	VERB
fbem-11083	55	17	a	a	DET
fbem-11083	55	18	remarkable	remarkable	ADJ
fbem-11083	55	19	growth	growth	NOUN
fbem-11083	55	20	of	of	ADP
fbem-11083	55	21	100.36	100.36	NUM
fbem-11083	55	22	%	%	NOUN
fbem-11083	55	23	compared	compare	VERB
fbem-11083	55	24	to	to	ADP
fbem-11083	55	25	2017	2017	NUM
fbem-11083	55	26	,	,	PUNCT
fbem-11083	55	27	while	while	SCONJ
fbem-11083	55	28	the	the	DET
fbem-11083	55	29	net	net	ADJ
fbem-11083	55	30	profit	profit	NOUN
fbem-11083	55	31	amounted	amount	VERB
fbem-11083	55	32	to	to	ADP
fbem-11083	55	33	32,450.40	32,450.40	NUM
fbem-11083	55	34	million	million	NUM
fbem-11083	55	35	yuan	yuan	NOUN
fbem-11083	55	36	,	,	PUNCT
fbem-11083	55	37	surging	surge	VERB
fbem-11083	55	38	by	by	ADP
fbem-11083	55	39	an	an	DET
fbem-11083	55	40	impressive	impressive	ADJ
fbem-11083	55	41	142.32	142.32	NUM
fbem-11083	55	42	%	%	NOUN
fbem-11083	55	43	since	since	SCONJ
fbem-11083	55	44	2017	2017	NUM
fbem-11083	55	45	.	.	PUNCT
fbem-11083	56	1	consequently	consequently	ADV
fbem-11083	56	2	,	,	PUNCT
fbem-11083	56	3	the	the	DET
fbem-11083	56	4	significant	significant	ADJ
fbem-11083	56	5	enhancement	enhancement	NOUN
fbem-11083	56	6	in	in	ADP
fbem-11083	56	7	net	net	ADJ
fbem-11083	56	8	profit	profit	NOUN
fbem-11083	56	9	chiefly	chiefly	ADV
fbem-11083	56	10	contributed	contribute	VERB
fbem-11083	56	11	to	to	ADP
fbem-11083	56	12	the	the	DET
fbem-11083	56	13	rise	rise	NOUN
fbem-11083	56	14	in	in	ADP
fbem-11083	56	15	the	the	DET
fbem-11083	56	16	cost	cost	NOUN
fbem-11083	56	17	and	and	CCONJ
fbem-11083	56	18	expense	expense	NOUN
fbem-11083	56	19	profit	profit	NOUN
fbem-11083	56	20	margin	margin	NOUN
fbem-11083	56	21	for	for	ADP
fbem-11083	56	22	wuliangye	wuliangye	NOUN
fbem-11083	56	23	.	.	PUNCT
fbem-11083	57	1	in	in	ADP
fbem-11083	57	2	conclusion	conclusion	NOUN
fbem-11083	57	3	,	,	PUNCT
fbem-11083	57	4	the	the	DET
fbem-11083	57	5	comparative	comparative	ADJ
fbem-11083	57	6	analysis	analysis	NOUN
fbem-11083	57	7	of	of	ADP
fbem-11083	57	8	the	the	DET
fbem-11083	57	9	cost	cost	NOUN
fbem-11083	57	10	and	and	CCONJ
fbem-11083	57	11	expense	expense	NOUN
fbem-11083	57	12	profit	profit	NOUN
fbem-11083	57	13	margin	margin	NOUN
fbem-11083	57	14	highlights	highlight	NOUN
fbem-11083	57	15	guizhou	guizhou	PROPN
fbem-11083	57	16	maotai	maotai	PROPN
fbem-11083	57	17	's	's	PART
fbem-11083	57	18	markedly	markedly	ADV
fbem-11083	57	19	higher	high	ADJ
fbem-11083	57	20	profitability	profitability	NOUN
fbem-11083	57	21	in	in	ADP
fbem-11083	57	22	contrast	contrast	NOUN
fbem-11083	57	23	to	to	ADP
fbem-11083	57	24	wuliangye	wuliangye	VERB
fbem-11083	57	25	.	.	PUNCT
fbem-11083	58	1	guizhou	guizhou	PROPN
fbem-11083	58	2	maotai	maotai	PROPN
fbem-11083	58	3	substantiates	substantiate	VERB
fbem-11083	58	4	its	its	PRON
fbem-11083	58	5	superior	superior	ADJ
fbem-11083	58	6	profitability	profitability	NOUN
fbem-11083	58	7	and	and	CCONJ
fbem-11083	58	8	heightened	heighten	VERB
fbem-11083	58	9	competitive	competitive	ADJ
fbem-11083	58	10	prowess	prowess	NOUN
fbem-11083	58	11	in	in	ADP
fbem-11083	58	12	the	the	DET
fbem-11083	58	13	market	market	NOUN
fbem-11083	58	14	.	.	PUNCT
fbem-11083	59	1	table	table	NOUN
fbem-11083	59	2	2.1.3.1	2.1.3.1	NUM
fbem-11083	59	3	:	:	PUNCT
fbem-11083	59	4	cost	cost	NOUN
fbem-11083	59	5	and	and	CCONJ
fbem-11083	59	6	expense	expense	NOUN
fbem-11083	59	7	profit	profit	NOUN
fbem-11083	59	8	margin	margin	NOUN
fbem-11083	59	9	indicators	indicator	NOUN
fbem-11083	59	10	for	for	ADP
fbem-11083	59	11	guizhou	guizhou	PROPN
fbem-11083	59	12	maotai	maotai	PROPN
fbem-11083	59	13	year	year	NOUN
fbem-11083	59	14	2017	2017	NUM
fbem-11083	59	15	2018	2018	NUM
fbem-11083	59	16	2019	2019	NUM
fbem-11083	59	17	2020	2020	NUM
fbem-11083	59	18	2021	2021	NUM
fbem-11083	59	19	index	index	NOUN
fbem-11083	59	20	176.13	176.13	NUM
fbem-11083	59	21	%	%	NOUN
fbem-11083	59	22	197.56	197.56	NUM
fbem-11083	59	23	%	%	NOUN
fbem-11083	59	24	198.15	198.15	NUM
fbem-11083	59	25	%	%	NOUN
fbem-11083	59	26	212.21	212.21	NUM
fbem-11083	59	27	%	%	NOUN
fbem-11083	59	28	215.38	215.38	NUM
fbem-11083	59	29	%	%	NOUN
fbem-11083	59	30	table	table	NOUN
fbem-11083	59	31	2.1.3.2	2.1.3.2	NUM
fbem-11083	59	32	:	:	PUNCT
fbem-11083	59	33	cost	cost	NOUN
fbem-11083	59	34	and	and	CCONJ
fbem-11083	59	35	expense	expense	NOUN
fbem-11083	59	36	profit	profit	NOUN
fbem-11083	59	37	margin	margin	NOUN
fbem-11083	59	38	indicators	indicator	NOUN
fbem-11083	59	39	for	for	ADP
fbem-11083	59	40	wuliangye	wuliangye	NOUN
fbem-11083	59	41	year	year	NOUN
fbem-11083	59	42	2017	2017	NUM
fbem-11083	59	43	2018	2018	NUM
fbem-11083	59	44	2019	2019	NUM
fbem-11083	59	45	2020	2020	NUM
fbem-11083	59	46	2021	2021	NUM
fbem-11083	59	47	index	index	NOUN
fbem-11083	59	48	79.01	79.01	NUM
fbem-11083	59	49	%	%	NOUN
fbem-11083	59	50	86.49	86.49	NUM
fbem-11083	59	51	%	%	NOUN
fbem-11083	59	52	92.28	92.28	NUM
fbem-11083	59	53	%	%	NOUN
fbem-11083	59	54	93.07	93.07	NUM
fbem-11083	59	55	%	%	NOUN
fbem-11083	59	56	95.56	95.56	NUM
fbem-11083	59	57	%	%	NOUN
fbem-11083	59	58	0.00	0.00	NUM
fbem-11083	59	59	%	%	NOUN
fbem-11083	59	60	10.00	10.00	NUM
fbem-11083	59	61	%	%	NOUN
fbem-11083	59	62	20.00	20.00	NUM
fbem-11083	59	63	%	%	NOUN
fbem-11083	59	64	30.00	30.00	NUM
fbem-11083	59	65	%	%	NOUN
fbem-11083	59	66	40.00	40.00	NUM
fbem-11083	59	67	%	%	NOUN
fbem-11083	59	68	50.00	50.00	NUM
fbem-11083	59	69	%	%	NOUN
fbem-11083	59	70	60.00	60.00	NUM
fbem-11083	59	71	%	%	NOUN
fbem-11083	59	72	70.00	70.00	NUM
fbem-11083	59	73	%	%	NOUN
fbem-11083	59	74	80.00	80.00	NUM
fbem-11083	59	75	%	%	NOUN
fbem-11083	59	76	2017	2017	NUM
fbem-11083	59	77	2018	2018	NUM
fbem-11083	59	78	2019	2019	NUM
fbem-11083	59	79	2020	2020	NUM
fbem-11083	59	80	2021	2021	NUM
fbem-11083	59	81	operating	operating	NOUN
fbem-11083	59	82	profit	profit	NOUN
fbem-11083	59	83	margin	margin	NOUN
fbem-11083	59	84	the	the	DET
fbem-11083	59	85	operating	operate	VERB
fbem-11083	59	86	profit	profit	NOUN
fbem-11083	59	87	margin	margin	NOUN
fbem-11083	59	88	for	for	ADP
fbem-11083	59	89	guizhou	guizhou	PROPN
fbem-11083	59	90	maotai（%	maotai（%	PROPN
fbem-11083	59	91	）	）	PROPN
fbem-11083	60	1	the	the	DET
fbem-11083	60	2	operating	operate	VERB
fbem-11083	60	3	profit	profit	NOUN
fbem-11083	60	4	margin	margin	NOUN
fbem-11083	60	5	for	for	ADP
fbem-11083	60	6	wuliangye（%	wuliangye（%	NOUN
fbem-11083	60	7	）	）	SYM
fbem-11083	60	8	385	385	NUM
fbem-11083	60	9	data	datum	NOUN
fbem-11083	60	10	source	source	NOUN
fbem-11083	60	11	:	:	PUNCT
fbem-11083	60	12	csmar	csmar	PROPN
fbem-11083	60	13	figure	figure	VERB
fbem-11083	60	14	2.1.3	2.1.3	NUM
fbem-11083	60	15	:	:	PUNCT
fbem-11083	60	16	trend	trend	NOUN
fbem-11083	60	17	of	of	ADP
fbem-11083	60	18	cost	cost	NOUN
fbem-11083	60	19	and	and	CCONJ
fbem-11083	60	20	expense	expense	NOUN
fbem-11083	60	21	profit	profit	NOUN
fbem-11083	60	22	margin	margin	NOUN
fbem-11083	60	23	2.2	2.2	NUM
fbem-11083	60	24	.	.	PUNCT
fbem-11083	61	1	debt	debt	NOUN
fbem-11083	61	2	-	-	PUNCT
fbem-11083	61	3	paying	pay	VERB
fbem-11083	61	4	ability	ability	NOUN
fbem-11083	61	5	analysis	analysis	NOUN
fbem-11083	61	6	the	the	DET
fbem-11083	61	7	analysis	analysis	NOUN
fbem-11083	61	8	of	of	ADP
fbem-11083	61	9	a	a	DET
fbem-11083	61	10	company	company	NOUN
fbem-11083	61	11	's	's	PART
fbem-11083	61	12	debt	debt	NOUN
fbem-11083	61	13	-	-	PUNCT
fbem-11083	61	14	paying	pay	VERB
fbem-11083	61	15	ability	ability	NOUN
fbem-11083	61	16	encompasses	encompass	VERB
fbem-11083	61	17	an	an	DET
fbem-11083	61	18	evaluation	evaluation	NOUN
fbem-11083	61	19	of	of	ADP
fbem-11083	61	20	both	both	CCONJ
fbem-11083	61	21	its	its	PRON
fbem-11083	61	22	long	long	ADJ
fbem-11083	61	23	-	-	PUNCT
fbem-11083	61	24	term	term	NOUN
fbem-11083	61	25	and	and	CCONJ
fbem-11083	61	26	shortterm	shortterm	VERB
fbem-11083	61	27	debt	debt	NOUN
fbem-11083	61	28	-	-	PUNCT
fbem-11083	61	29	paying	pay	VERB
fbem-11083	61	30	capacity	capacity	NOUN
fbem-11083	61	31	.	.	PUNCT
fbem-11083	62	1	this	this	DET
fbem-11083	62	2	section	section	NOUN
fbem-11083	62	3	aims	aim	VERB
fbem-11083	62	4	to	to	PART
fbem-11083	62	5	compare	compare	VERB
fbem-11083	62	6	and	and	CCONJ
fbem-11083	62	7	analyze	analyze	VERB
fbem-11083	62	8	the	the	DET
fbem-11083	62	9	debt	debt	NOUN
fbem-11083	62	10	-	-	PUNCT
fbem-11083	62	11	paying	pay	VERB
fbem-11083	62	12	ability	ability	NOUN
fbem-11083	62	13	of	of	ADP
fbem-11083	62	14	two	two	NUM
fbem-11083	62	15	prominent	prominent	ADJ
fbem-11083	62	16	chinese	chinese	ADJ
fbem-11083	62	17	liquor	liquor	NOUN
fbem-11083	62	18	companies	company	NOUN
fbem-11083	62	19	,	,	PUNCT
fbem-11083	62	20	guizhou	guizhou	PROPN
fbem-11083	62	21	maotai	maotai	PROPN
fbem-11083	62	22	and	and	CCONJ
fbem-11083	62	23	wuliangye	wuliangye	PROPN
fbem-11083	62	24	,	,	PUNCT
fbem-11083	62	25	based	base	VERB
fbem-11083	62	26	on	on	ADP
fbem-11083	62	27	three	three	NUM
fbem-11083	62	28	key	key	ADJ
fbem-11083	62	29	financial	financial	ADJ
fbem-11083	62	30	indicators	indicator	NOUN
fbem-11083	62	31	:	:	PUNCT
fbem-11083	62	32	asset	asset	NOUN
fbem-11083	62	33	liability	liability	NOUN
fbem-11083	62	34	ratio	ratio	NOUN
fbem-11083	62	35	,	,	PUNCT
fbem-11083	62	36	current	current	ADJ
fbem-11083	62	37	ratio	ratio	NOUN
fbem-11083	62	38	,	,	PUNCT
fbem-11083	62	39	and	and	CCONJ
fbem-11083	62	40	cash	cash	NOUN
fbem-11083	62	41	ratio	ratio	NOUN
fbem-11083	62	42	.	.	PUNCT
fbem-11083	63	1	2.2.1	2.2.1	NUM
fbem-11083	63	2	.	.	PUNCT
fbem-11083	63	3	asset	asset	NOUN
fbem-11083	63	4	liability	liability	NOUN
fbem-11083	63	5	ratio	ratio	NOUN
fbem-11083	63	6	analysis	analysis	NOUN
fbem-11083	63	7	the	the	DET
fbem-11083	63	8	asset	asset	NOUN
fbem-11083	63	9	liability	liability	NOUN
fbem-11083	63	10	ratio	ratio	NOUN
fbem-11083	63	11	,	,	PUNCT
fbem-11083	63	12	expressed	express	VERB
fbem-11083	63	13	as	as	ADP
fbem-11083	63	14	(	(	PUNCT
fbem-11083	63	15	total	total	ADJ
fbem-11083	63	16	liabilities	liability	NOUN
fbem-11083	63	17	/	/	SYM
fbem-11083	63	18	total	total	ADJ
fbem-11083	63	19	assets	asset	NOUN
fbem-11083	63	20	)	)	PUNCT
fbem-11083	63	21	*	*	PUNCT
fbem-11083	63	22	100	100	NUM
fbem-11083	63	23	%	%	NOUN
fbem-11083	63	24	,	,	PUNCT
fbem-11083	63	25	represents	represent	VERB
fbem-11083	63	26	a	a	DET
fbem-11083	63	27	vital	vital	ADJ
fbem-11083	63	28	metric	metric	NOUN
fbem-11083	63	29	reflecting	reflect	VERB
fbem-11083	63	30	a	a	DET
fbem-11083	63	31	company	company	NOUN
fbem-11083	63	32	's	's	PART
fbem-11083	63	33	overall	overall	ADJ
fbem-11083	63	34	debt	debt	NOUN
fbem-11083	63	35	-	-	PUNCT
fbem-11083	63	36	paying	pay	VERB
fbem-11083	63	37	ability	ability	NOUN
fbem-11083	63	38	.	.	PUNCT
fbem-11083	64	1	a	a	DET
fbem-11083	64	2	higher	high	ADJ
fbem-11083	64	3	ratio	ratio	NOUN
fbem-11083	64	4	indicates	indicate	VERB
fbem-11083	64	5	a	a	DET
fbem-11083	64	6	greater	great	ADJ
fbem-11083	64	7	proportion	proportion	NOUN
fbem-11083	64	8	of	of	ADP
fbem-11083	64	9	debt	debt	NOUN
fbem-11083	64	10	in	in	ADP
fbem-11083	64	11	relation	relation	NOUN
fbem-11083	64	12	to	to	ADP
fbem-11083	64	13	the	the	DET
fbem-11083	64	14	company	company	NOUN
fbem-11083	64	15	's	's	PART
fbem-11083	64	16	total	total	ADJ
fbem-11083	64	17	assets	asset	NOUN
fbem-11083	64	18	,	,	PUNCT
fbem-11083	64	19	suggesting	suggest	VERB
fbem-11083	64	20	a	a	DET
fbem-11083	64	21	comparatively	comparatively	ADV
fbem-11083	64	22	weaker	weak	ADJ
fbem-11083	64	23	debt	debt	NOUN
fbem-11083	64	24	-	-	PUNCT
fbem-11083	64	25	paying	pay	VERB
fbem-11083	64	26	capacity	capacity	NOUN
fbem-11083	64	27	.	.	PUNCT
fbem-11083	65	1	often	often	ADV
fbem-11083	65	2	referred	refer	VERB
fbem-11083	65	3	to	to	ADP
fbem-11083	65	4	as	as	ADP
fbem-11083	65	5	the	the	DET
fbem-11083	65	6	debt	debt	NOUN
fbem-11083	65	7	-	-	PUNCT
fbem-11083	65	8	to	to	ADP
fbem-11083	65	9	-	-	PUNCT
fbem-11083	65	10	assets	asset	NOUN
fbem-11083	65	11	ratio	ratio	NOUN
fbem-11083	65	12	,	,	PUNCT
fbem-11083	65	13	it	it	PRON
fbem-11083	65	14	serves	serve	VERB
fbem-11083	65	15	as	as	ADP
fbem-11083	65	16	an	an	DET
fbem-11083	65	17	indicator	indicator	NOUN
fbem-11083	65	18	of	of	ADP
fbem-11083	65	19	the	the	DET
fbem-11083	65	20	company	company	NOUN
fbem-11083	65	21	's	's	PART
fbem-11083	65	22	capacity	capacity	NOUN
fbem-11083	65	23	to	to	PART
fbem-11083	65	24	utilize	utilize	VERB
fbem-11083	65	25	funds	fund	NOUN
fbem-11083	65	26	provided	provide	VERB
fbem-11083	65	27	by	by	ADP
fbem-11083	65	28	creditors	creditor	NOUN
fbem-11083	65	29	for	for	ADP
fbem-11083	65	30	operational	operational	ADJ
fbem-11083	65	31	activities	activity	NOUN
fbem-11083	65	32	and	and	CCONJ
fbem-11083	65	33	reflects	reflect	VERB
fbem-11083	65	34	the	the	DET
fbem-11083	65	35	level	level	NOUN
fbem-11083	65	36	of	of	ADP
fbem-11083	65	37	safety	safety	NOUN
fbem-11083	65	38	for	for	ADP
fbem-11083	65	39	creditors	creditor	NOUN
fbem-11083	65	40	when	when	SCONJ
fbem-11083	65	41	granting	grant	VERB
fbem-11083	65	42	loans	loan	NOUN
fbem-11083	65	43	.	.	PUNCT
fbem-11083	66	1	by	by	ADP
fbem-11083	66	2	comparing	compare	VERB
fbem-11083	66	3	total	total	ADJ
fbem-11083	66	4	liabilities	liability	NOUN
fbem-11083	66	5	with	with	ADP
fbem-11083	66	6	total	total	ADJ
fbem-11083	66	7	assets	asset	NOUN
fbem-11083	66	8	,	,	PUNCT
fbem-11083	66	9	this	this	DET
fbem-11083	66	10	ratio	ratio	NOUN
fbem-11083	66	11	provides	provide	VERB
fbem-11083	66	12	insights	insight	NOUN
fbem-11083	66	13	into	into	ADP
fbem-11083	66	14	the	the	DET
fbem-11083	66	15	degree	degree	NOUN
fbem-11083	66	16	of	of	ADP
fbem-11083	66	17	leverage	leverage	NOUN
fbem-11083	66	18	and	and	CCONJ
fbem-11083	66	19	financial	financial	ADJ
fbem-11083	66	20	risk	risk	NOUN
fbem-11083	66	21	faced	face	VERB
fbem-11083	66	22	by	by	ADP
fbem-11083	66	23	the	the	DET
fbem-11083	66	24	company	company	NOUN
fbem-11083	66	25	.	.	PUNCT
fbem-11083	67	1	drawing	draw	VERB
fbem-11083	67	2	upon	upon	SCONJ
fbem-11083	67	3	the	the	DET
fbem-11083	67	4	analysis	analysis	NOUN
fbem-11083	67	5	presented	present	VERB
fbem-11083	67	6	in	in	ADP
fbem-11083	67	7	table	table	NOUN
fbem-11083	67	8	2.2.1.1	2.2.1.1	NUM
fbem-11083	67	9	and	and	CCONJ
fbem-11083	67	10	figure	figure	VERB
fbem-11083	67	11	2.2.1	2.2.1	NUM
fbem-11083	67	12	,	,	PUNCT
fbem-11083	67	13	it	it	PRON
fbem-11083	67	14	becomes	become	VERB
fbem-11083	67	15	evident	evident	ADJ
fbem-11083	67	16	that	that	SCONJ
fbem-11083	67	17	guizhou	guizhou	PROPN
fbem-11083	67	18	maotai	maotai	PROPN
fbem-11083	67	19	's	's	PART
fbem-11083	67	20	asset	asset	NOUN
fbem-11083	67	21	liability	liability	NOUN
fbem-11083	67	22	ratio	ratio	NOUN
fbem-11083	67	23	exhibited	exhibit	VERB
fbem-11083	67	24	an	an	DET
fbem-11083	67	25	overall	overall	ADJ
fbem-11083	67	26	downward	downward	ADJ
fbem-11083	67	27	trend	trend	NOUN
fbem-11083	67	28	from	from	ADP
fbem-11083	67	29	2017	2017	NUM
fbem-11083	67	30	to	to	ADP
fbem-11083	67	31	2021	2021	NUM
fbem-11083	67	32	.	.	PUNCT
fbem-11083	68	1	during	during	ADP
fbem-11083	68	2	this	this	DET
fbem-11083	68	3	period	period	NOUN
fbem-11083	68	4	,	,	PUNCT
fbem-11083	68	5	guizhou	guizhou	PROPN
fbem-11083	68	6	maotai	maotai	PROPN
fbem-11083	68	7	's	's	PART
fbem-11083	68	8	asset	asset	NOUN
fbem-11083	68	9	liability	liability	NOUN
fbem-11083	68	10	ratio	ratio	NOUN
fbem-11083	68	11	was	be	AUX
fbem-11083	68	12	recorded	record	VERB
fbem-11083	68	13	at	at	ADP
fbem-11083	68	14	28.67	28.67	NUM
fbem-11083	68	15	%	%	NOUN
fbem-11083	68	16	,	,	PUNCT
fbem-11083	68	17	26.55	26.55	NUM
fbem-11083	68	18	%	%	NOUN
fbem-11083	68	19	,	,	PUNCT
fbem-11083	68	20	22.49	22.49	NUM
fbem-11083	68	21	%	%	NOUN
fbem-11083	68	22	,	,	PUNCT
fbem-11083	68	23	21.4	21.4	NUM
fbem-11083	68	24	%	%	NOUN
fbem-11083	68	25	,	,	PUNCT
fbem-11083	68	26	and	and	CCONJ
fbem-11083	68	27	22.81	22.81	NUM
fbem-11083	68	28	%	%	NOUN
fbem-11083	68	29	,	,	PUNCT
fbem-11083	68	30	respectively	respectively	ADV
fbem-11083	68	31	.	.	PUNCT
fbem-11083	69	1	additionally	additionally	ADV
fbem-11083	69	2	,	,	PUNCT
fbem-11083	69	3	the	the	DET
fbem-11083	69	4	year	year	NOUN
fbem-11083	69	5	-	-	PUNCT
fbem-11083	69	6	onyear	onyear	NOUN
fbem-11083	69	7	growth	growth	NOUN
fbem-11083	69	8	rates	rate	NOUN
fbem-11083	69	9	of	of	ADP
fbem-11083	69	10	total	total	ADJ
fbem-11083	69	11	liabilities	liability	NOUN
fbem-11083	69	12	for	for	ADP
fbem-11083	69	13	the	the	DET
fbem-11083	69	14	same	same	ADJ
fbem-11083	69	15	period	period	NOUN
fbem-11083	69	16	were	be	AUX
fbem-11083	69	17	4.20	4.20	NUM
fbem-11083	69	18	%	%	NOUN
fbem-11083	69	19	,	,	PUNCT
fbem-11083	69	20	9.97	9.97	NUM
fbem-11083	69	21	%	%	NOUN
fbem-11083	69	22	,	,	PUNCT
fbem-11083	69	23	-3.00	-3.00	NUM
fbem-11083	69	24	%	%	NOUN
fbem-11083	69	25	,	,	PUNCT
fbem-11083	69	26	10.95	10.95	NUM
fbem-11083	69	27	%	%	NOUN
fbem-11083	69	28	,	,	PUNCT
fbem-11083	69	29	and	and	CCONJ
fbem-11083	69	30	27.45	27.45	NUM
fbem-11083	69	31	%	%	NOUN
fbem-11083	69	32	,	,	PUNCT
fbem-11083	69	33	while	while	SCONJ
fbem-11083	69	34	the	the	DET
fbem-11083	69	35	growth	growth	NOUN
fbem-11083	69	36	rates	rate	NOUN
fbem-11083	69	37	of	of	ADP
fbem-11083	69	38	total	total	ADJ
fbem-11083	69	39	assets	asset	NOUN
fbem-11083	69	40	were	be	AUX
fbem-11083	69	41	19.19	19.19	NUM
fbem-11083	69	42	%	%	NOUN
fbem-11083	69	43	,	,	PUNCT
fbem-11083	69	44	18.75	18.75	NUM
fbem-11083	69	45	%	%	NOUN
fbem-11083	69	46	,	,	PUNCT
fbem-11083	69	47	14.51	14.51	NUM
fbem-11083	69	48	%	%	NOUN
fbem-11083	69	49	,	,	PUNCT
fbem-11083	69	50	16.58	16.58	NUM
fbem-11083	69	51	%	%	NOUN
fbem-11083	69	52	,	,	PUNCT
fbem-11083	69	53	and	and	CCONJ
fbem-11083	69	54	19.58	19.58	NUM
fbem-11083	69	55	%	%	NOUN
fbem-11083	69	56	,	,	PUNCT
fbem-11083	69	57	respectively	respectively	ADV
fbem-11083	69	58	.	.	PUNCT
fbem-11083	70	1	the	the	DET
fbem-11083	70	2	decline	decline	NOUN
fbem-11083	70	3	in	in	ADP
fbem-11083	70	4	guizhou	guizhou	PROPN
fbem-11083	70	5	maotai	maotai	PROPN
fbem-11083	70	6	's	's	PART
fbem-11083	70	7	asset	asset	NOUN
fbem-11083	70	8	liability	liability	NOUN
fbem-11083	70	9	ratio	ratio	NOUN
fbem-11083	70	10	during	during	ADP
fbem-11083	70	11	this	this	DET
fbem-11083	70	12	period	period	NOUN
fbem-11083	70	13	can	can	AUX
fbem-11083	70	14	be	be	AUX
fbem-11083	70	15	attributed	attribute	VERB
fbem-11083	70	16	to	to	ADP
fbem-11083	70	17	the	the	DET
fbem-11083	70	18	increase	increase	NOUN
fbem-11083	70	19	in	in	ADP
fbem-11083	70	20	total	total	ADJ
fbem-11083	70	21	assets	asset	NOUN
fbem-11083	70	22	and	and	CCONJ
fbem-11083	70	23	a	a	DET
fbem-11083	70	24	reduction	reduction	NOUN
fbem-11083	70	25	in	in	ADP
fbem-11083	70	26	total	total	ADJ
fbem-11083	70	27	liabilities	liability	NOUN
fbem-11083	70	28	,	,	PUNCT
fbem-11083	70	29	indicating	indicate	VERB
fbem-11083	70	30	an	an	DET
fbem-11083	70	31	improvement	improvement	NOUN
fbem-11083	70	32	in	in	ADP
fbem-11083	70	33	the	the	DET
fbem-11083	70	34	company	company	NOUN
fbem-11083	70	35	's	's	PART
fbem-11083	70	36	financial	financial	ADJ
fbem-11083	70	37	stability	stability	NOUN
fbem-11083	70	38	and	and	CCONJ
fbem-11083	70	39	debt	debt	NOUN
fbem-11083	70	40	-	-	PUNCT
fbem-11083	70	41	paying	pay	VERB
fbem-11083	70	42	capacity	capacity	NOUN
fbem-11083	70	43	.	.	PUNCT
fbem-11083	71	1	as	as	ADP
fbem-11083	71	2	per	per	ADP
fbem-11083	71	3	table	table	NOUN
fbem-11083	71	4	2.2.1.2	2.2.1.2	NUM
fbem-11083	71	5	and	and	CCONJ
fbem-11083	71	6	figure	figure	VERB
fbem-11083	71	7	2.2.1	2.2.1	NUM
fbem-11083	71	8	,	,	PUNCT
fbem-11083	71	9	from	from	ADP
fbem-11083	71	10	2017	2017	NUM
fbem-11083	71	11	to	to	ADP
fbem-11083	71	12	2021	2021	NUM
fbem-11083	71	13	,	,	PUNCT
fbem-11083	71	14	wuliangye	wuliangye	PROPN
fbem-11083	71	15	's	's	PART
fbem-11083	71	16	asset	asset	NOUN
fbem-11083	71	17	liability	liability	NOUN
fbem-11083	71	18	ratio	ratio	NOUN
fbem-11083	71	19	displayed	display	VERB
fbem-11083	71	20	values	value	NOUN
fbem-11083	71	21	of	of	ADP
fbem-11083	71	22	22.91	22.91	NUM
fbem-11083	71	23	%	%	NOUN
fbem-11083	71	24	,	,	PUNCT
fbem-11083	71	25	24.36	24.36	NUM
fbem-11083	71	26	%	%	NOUN
fbem-11083	71	27	,	,	PUNCT
fbem-11083	71	28	28.48	28.48	NUM
fbem-11083	71	29	%	%	NOUN
fbem-11083	71	30	,	,	PUNCT
fbem-11083	71	31	22.95	22.95	NUM
fbem-11083	71	32	%	%	NOUN
fbem-11083	71	33	,	,	PUNCT
fbem-11083	71	34	and	and	CCONJ
fbem-11083	71	35	25.24	25.24	NUM
fbem-11083	71	36	%	%	NOUN
fbem-11083	71	37	,	,	PUNCT
fbem-11083	71	38	showing	show	VERB
fbem-11083	71	39	a	a	DET
fbem-11083	71	40	distinctive	distinctive	ADJ
fbem-11083	71	41	inverted	inverted	ADJ
fbem-11083	71	42	"	"	PUNCT
fbem-11083	71	43	v	v	NOUN
fbem-11083	71	44	"	"	PUNCT
fbem-11083	71	45	shaped	shaped	ADJ
fbem-11083	71	46	trend	trend	NOUN
fbem-11083	71	47	.	.	PUNCT
fbem-11083	72	1	over	over	ADP
fbem-11083	72	2	this	this	DET
fbem-11083	72	3	period	period	NOUN
fbem-11083	72	4	,	,	PUNCT
fbem-11083	72	5	wuliangye	wuliangye	PROPN
fbem-11083	72	6	's	's	PART
fbem-11083	72	7	total	total	ADJ
fbem-11083	72	8	liabilities	liability	NOUN
fbem-11083	72	9	recorded	record	VERB
fbem-11083	72	10	significant	significant	ADJ
fbem-11083	72	11	increases	increase	NOUN
fbem-11083	72	12	of	of	ADP
fbem-11083	72	13	16248.30	16248.30	NUM
fbem-11083	72	14	million	million	NUM
fbem-11083	72	15	yuan	yuan	NOUN
fbem-11083	72	16	,	,	PUNCT
fbem-11083	72	17	20974.82	20974.82	NUM
fbem-11083	72	18	million	million	NUM
fbem-11083	72	19	yuan	yuan	NOUN
fbem-11083	72	20	,	,	PUNCT
fbem-11083	72	21	and	and	CCONJ
fbem-11083	72	22	30300.92	30300.92	NUM
fbem-11083	72	23	million	million	NUM
fbem-11083	72	24	yuan	yuan	NOUN
fbem-11083	72	25	for	for	ADP
fbem-11083	72	26	the	the	DET
fbem-11083	72	27	years	year	NOUN
fbem-11083	72	28	2017	2017	NUM
fbem-11083	72	29	to	to	ADP
fbem-11083	72	30	2019	2019	NUM
fbem-11083	72	31	,	,	PUNCT
fbem-11083	72	32	respectively	respectively	ADV
fbem-11083	72	33	.	.	PUNCT
fbem-11083	73	1	meanwhile	meanwhile	ADV
fbem-11083	73	2	,	,	PUNCT
fbem-11083	73	3	total	total	ADJ
fbem-11083	73	4	assets	asset	NOUN
fbem-11083	73	5	increased	increase	VERB
fbem-11083	73	6	to	to	ADP
fbem-11083	73	7	70922.63	70922.63	NUM
fbem-11083	73	8	million	million	NUM
fbem-11083	73	9	yuan	yuan	NOUN
fbem-11083	73	10	,	,	PUNCT
fbem-11083	73	11	86094.26	86094.26	NUM
fbem-11083	73	12	million	million	NUM
fbem-11083	73	13	yuan	yuan	NOUN
fbem-11083	73	14	,	,	PUNCT
fbem-11083	73	15	and	and	CCONJ
fbem-11083	73	16	106396.97	106396.97	NUM
fbem-11083	73	17	million	million	NUM
fbem-11083	73	18	yuan	yuan	NOUN
fbem-11083	73	19	for	for	ADP
fbem-11083	73	20	the	the	DET
fbem-11083	73	21	same	same	ADJ
fbem-11083	73	22	period	period	NOUN
fbem-11083	73	23	.	.	PUNCT
fbem-11083	74	1	the	the	DET
fbem-11083	74	2	considerable	considerable	ADJ
fbem-11083	74	3	growth	growth	NOUN
fbem-11083	74	4	in	in	ADP
fbem-11083	74	5	total	total	ADJ
fbem-11083	74	6	liabilities	liability	NOUN
fbem-11083	74	7	contributed	contribute	VERB
fbem-11083	74	8	to	to	ADP
fbem-11083	74	9	the	the	DET
fbem-11083	74	10	rise	rise	NOUN
fbem-11083	74	11	in	in	ADP
fbem-11083	74	12	wuliangye	wuliangye	PROPN
fbem-11083	74	13	's	's	PART
fbem-11083	74	14	asset	asset	NOUN
fbem-11083	74	15	liability	liability	NOUN
fbem-11083	74	16	ratio	ratio	NOUN
fbem-11083	74	17	.	.	PUNCT
fbem-11083	75	1	however	however	ADV
fbem-11083	75	2	,	,	PUNCT
fbem-11083	75	3	in	in	ADP
fbem-11083	75	4	2020	2020	NUM
fbem-11083	75	5	,	,	PUNCT
fbem-11083	75	6	owing	owe	VERB
fbem-11083	75	7	to	to	ADP
fbem-11083	75	8	the	the	DET
fbem-11083	75	9	adverse	adverse	ADJ
fbem-11083	75	10	impact	impact	NOUN
fbem-11083	75	11	of	of	ADP
fbem-11083	75	12	the	the	DET
fbem-11083	75	13	pandemic	pandemic	ADJ
fbem-11083	75	14	,	,	PUNCT
fbem-11083	75	15	the	the	DET
fbem-11083	75	16	year	year	NOUN
fbem-11083	75	17	-	-	PUNCT
fbem-11083	75	18	onyear	onyear	NOUN
fbem-11083	75	19	growth	growth	NOUN
fbem-11083	75	20	rate	rate	NOUN
fbem-11083	75	21	of	of	ADP
fbem-11083	75	22	assets	asset	NOUN
fbem-11083	75	23	decreased	decrease	VERB
fbem-11083	75	24	to	to	ADP
fbem-11083	75	25	7.05	7.05	NUM
fbem-11083	75	26	%	%	NOUN
fbem-11083	75	27	,	,	PUNCT
fbem-11083	75	28	and	and	CCONJ
fbem-11083	75	29	total	total	ADJ
fbem-11083	75	30	liabilities	liability	NOUN
fbem-11083	75	31	experienced	experience	VERB
fbem-11083	75	32	a	a	DET
fbem-11083	75	33	reduction	reduction	NOUN
fbem-11083	75	34	of	of	ADP
fbem-11083	75	35	13.75	13.75	NUM
fbem-11083	75	36	%	%	NOUN
fbem-11083	75	37	,	,	PUNCT
fbem-11083	75	38	leading	lead	VERB
fbem-11083	75	39	to	to	ADP
fbem-11083	75	40	a	a	DET
fbem-11083	75	41	decrease	decrease	NOUN
fbem-11083	75	42	in	in	ADP
fbem-11083	75	43	the	the	DET
fbem-11083	75	44	asset	asset	NOUN
fbem-11083	75	45	liability	liability	NOUN
fbem-11083	75	46	ratio	ratio	NOUN
fbem-11083	75	47	.	.	PUNCT
fbem-11083	76	1	despite	despite	SCONJ
fbem-11083	76	2	this	this	PRON
fbem-11083	76	3	,	,	PUNCT
fbem-11083	76	4	in	in	ADP
fbem-11083	76	5	2021	2021	NUM
fbem-11083	76	6	,	,	PUNCT
fbem-11083	76	7	both	both	DET
fbem-11083	76	8	total	total	ADJ
fbem-11083	76	9	liabilities	liability	NOUN
fbem-11083	76	10	and	and	CCONJ
fbem-11083	76	11	total	total	ADJ
fbem-11083	76	12	assets	asset	NOUN
fbem-11083	76	13	witnessed	witness	VERB
fbem-11083	76	14	considerable	considerable	ADJ
fbem-11083	76	15	year	year	NOUN
fbem-11083	76	16	-	-	PUNCT
fbem-11083	76	17	on	on	ADP
fbem-11083	76	18	-	-	PUNCT
fbem-11083	76	19	year	year	NOUN
fbem-11083	76	20	growth	growth	NOUN
fbem-11083	76	21	rates	rate	NOUN
fbem-11083	76	22	of	of	ADP
fbem-11083	76	23	30.97	30.97	NUM
fbem-11083	76	24	%	%	NOUN
fbem-11083	76	25	and	and	CCONJ
fbem-11083	76	26	19.08	19.08	NUM
fbem-11083	76	27	%	%	NOUN
fbem-11083	76	28	,	,	PUNCT
fbem-11083	76	29	respectively	respectively	ADV
fbem-11083	76	30	,	,	PUNCT
fbem-11083	76	31	resulting	result	VERB
fbem-11083	76	32	in	in	ADP
fbem-11083	76	33	an	an	DET
fbem-11083	76	34	increase	increase	NOUN
fbem-11083	76	35	in	in	ADP
fbem-11083	76	36	wuliangye	wuliangye	NOUN
fbem-11083	76	37	's	's	PART
fbem-11083	76	38	asset	asset	NOUN
fbem-11083	76	39	liability	liability	NOUN
fbem-11083	76	40	ratio	ratio	NOUN
fbem-11083	76	41	.	.	PUNCT
fbem-11083	77	1	these	these	DET
fbem-11083	77	2	fluctuations	fluctuation	NOUN
fbem-11083	77	3	signify	signify	VERB
fbem-11083	77	4	a	a	DET
fbem-11083	77	5	fluctuating	fluctuate	VERB
fbem-11083	77	6	debtpaying	debtpaying	NOUN
fbem-11083	77	7	ability	ability	NOUN
fbem-11083	77	8	and	and	CCONJ
fbem-11083	77	9	underscore	underscore	VERB
fbem-11083	77	10	the	the	DET
fbem-11083	77	11	challenge	challenge	NOUN
fbem-11083	77	12	of	of	ADP
fbem-11083	77	13	maintaining	maintain	VERB
fbem-11083	77	14	financial	financial	ADJ
fbem-11083	77	15	stability	stability	NOUN
fbem-11083	77	16	for	for	ADP
fbem-11083	77	17	wuliangye	wuliangye	NOUN
fbem-11083	77	18	.	.	PUNCT
fbem-11083	78	1	in	in	ADP
fbem-11083	78	2	conclusion	conclusion	NOUN
fbem-11083	78	3	,	,	PUNCT
fbem-11083	78	4	since	since	SCONJ
fbem-11083	78	5	2019	2019	NUM
fbem-11083	78	6	,	,	PUNCT
fbem-11083	78	7	guizhou	guizhou	NOUN
fbem-11083	78	8	maotai	maotai	PROPN
fbem-11083	78	9	has	have	AUX
fbem-11083	78	10	consistently	consistently	ADV
fbem-11083	78	11	demonstrated	demonstrate	VERB
fbem-11083	78	12	a	a	DET
fbem-11083	78	13	lower	low	ADJ
fbem-11083	78	14	asset	asset	NOUN
fbem-11083	78	15	liability	liability	NOUN
fbem-11083	78	16	ratio	ratio	NOUN
fbem-11083	78	17	compared	compare	VERB
fbem-11083	78	18	to	to	ADP
fbem-11083	78	19	wuliangye	wuliangye	VERB
fbem-11083	78	20	,	,	PUNCT
fbem-11083	78	21	implying	imply	VERB
fbem-11083	78	22	a	a	DET
fbem-11083	78	23	higher	high	ADJ
fbem-11083	78	24	degree	degree	NOUN
fbem-11083	78	25	of	of	ADP
fbem-11083	78	26	fund	fund	NOUN
fbem-11083	78	27	availability	availability	NOUN
fbem-11083	78	28	and	and	CCONJ
fbem-11083	78	29	a	a	DET
fbem-11083	78	30	stronger	strong	ADJ
fbem-11083	78	31	debt	debt	NOUN
fbem-11083	78	32	-	-	PUNCT
fbem-11083	78	33	paying	pay	VERB
fbem-11083	78	34	ability	ability	NOUN
fbem-11083	78	35	.	.	PUNCT
fbem-11083	79	1	these	these	DET
fbem-11083	79	2	findings	finding	NOUN
fbem-11083	79	3	contribute	contribute	VERB
fbem-11083	79	4	valuable	valuable	ADJ
fbem-11083	79	5	insights	insight	NOUN
fbem-11083	79	6	into	into	ADP
fbem-11083	79	7	the	the	DET
fbem-11083	79	8	financial	financial	ADJ
fbem-11083	79	9	health	health	NOUN
fbem-11083	79	10	and	and	CCONJ
fbem-11083	79	11	risk	risk	NOUN
fbem-11083	79	12	exposure	exposure	NOUN
fbem-11083	79	13	of	of	ADP
fbem-11083	79	14	the	the	DET
fbem-11083	79	15	two	two	NUM
fbem-11083	79	16	liquor	liquor	NOUN
fbem-11083	79	17	companies	company	NOUN
fbem-11083	79	18	,	,	PUNCT
fbem-11083	79	19	supporting	support	VERB
fbem-11083	79	20	the	the	DET
fbem-11083	79	21	evidence	evidence	NOUN
fbem-11083	79	22	-	-	PUNCT
fbem-11083	79	23	based	base	VERB
fbem-11083	79	24	assessment	assessment	NOUN
fbem-11083	79	25	of	of	ADP
fbem-11083	79	26	their	their	PRON
fbem-11083	79	27	debt	debt	NOUN
fbem-11083	79	28	-	-	PUNCT
fbem-11083	79	29	paying	pay	VERB
fbem-11083	79	30	capacities	capacity	NOUN
fbem-11083	79	31	in	in	ADP
fbem-11083	79	32	the	the	DET
fbem-11083	79	33	academic	academic	ADJ
fbem-11083	79	34	context	context	NOUN
fbem-11083	79	35	.	.	PUNCT
fbem-11083	80	1	table	table	NOUN
fbem-11083	80	2	2.2.1.1	2.2.1.1	NUM
fbem-11083	80	3	:	:	PUNCT
fbem-11083	80	4	asset	asset	NOUN
fbem-11083	80	5	liability	liability	NOUN
fbem-11083	80	6	ratio	ratio	NOUN
fbem-11083	80	7	indicators	indicator	NOUN
fbem-11083	80	8	for	for	ADP
fbem-11083	80	9	guizhou	guizhou	PROPN
fbem-11083	80	10	maotai	maotai	PROPN
fbem-11083	80	11	year	year	NOUN
fbem-11083	80	12	2017	2017	NUM
fbem-11083	80	13	2018	2018	NUM
fbem-11083	80	14	2019	2019	NUM
fbem-11083	80	15	2020	2020	NUM
fbem-11083	80	16	2021	2021	NUM
fbem-11083	80	17	index	index	NOUN
fbem-11083	80	18	28.67	28.67	NUM
fbem-11083	80	19	%	%	NOUN
fbem-11083	80	20	26.55	26.55	NUM
fbem-11083	80	21	%	%	NOUN
fbem-11083	80	22	22.49	22.49	NUM
fbem-11083	80	23	%	%	NOUN
fbem-11083	80	24	21.4	21.4	NUM
fbem-11083	80	25	%	%	NOUN
fbem-11083	80	26	22.81	22.81	NUM
fbem-11083	80	27	%	%	NOUN
fbem-11083	80	28	0.00	0.00	NUM
fbem-11083	80	29	%	%	NOUN
fbem-11083	80	30	50.00	50.00	NUM
fbem-11083	80	31	%	%	NOUN
fbem-11083	80	32	100.00	100.00	NUM
fbem-11083	80	33	%	%	NOUN
fbem-11083	80	34	150.00	150.00	NUM
fbem-11083	80	35	%	%	NOUN
fbem-11083	80	36	200.00	200.00	NUM
fbem-11083	80	37	%	%	NOUN
fbem-11083	80	38	250.00	250.00	NUM
fbem-11083	80	39	%	%	NOUN
fbem-11083	80	40	2016	2016	NUM
fbem-11083	80	41	2017	2017	NUM
fbem-11083	80	42	2018	2018	NUM
fbem-11083	80	43	2019	2019	NUM
fbem-11083	80	44	2020	2020	NUM
fbem-11083	80	45	2021	2021	NUM
fbem-11083	80	46	cost	cost	NOUN
fbem-11083	80	47	and	and	CCONJ
fbem-11083	80	48	expense	expense	NOUN
fbem-11083	80	49	profit	profit	NOUN
fbem-11083	80	50	margin	margin	NOUN
fbem-11083	80	51	cost	cost	NOUN
fbem-11083	80	52	and	and	CCONJ
fbem-11083	80	53	expense	expense	NOUN
fbem-11083	80	54	profit	profit	NOUN
fbem-11083	80	55	margin	margin	NOUN
fbem-11083	80	56	indicators	indicator	NOUN
fbem-11083	80	57	for	for	ADP
fbem-11083	80	58	guizhou	guizhou	PROPN
fbem-11083	80	59	maotai（%	maotai（%	PROPN
fbem-11083	80	60	）	）	PROPN
fbem-11083	80	61	cost	cost	NOUN
fbem-11083	80	62	and	and	CCONJ
fbem-11083	80	63	expense	expense	NOUN
fbem-11083	80	64	profit	profit	NOUN
fbem-11083	80	65	margin	margin	NOUN
fbem-11083	80	66	indicators	indicator	NOUN
fbem-11083	80	67	for	for	ADP
fbem-11083	80	68	wuliangye（%	wuliangye（%	NOUN
fbem-11083	80	69	）	）	SYM
fbem-11083	80	70	386	386	NUM
fbem-11083	80	71	table	table	NOUN
fbem-11083	80	72	2.2.1.2	2.2.1.2	NUM
fbem-11083	80	73	:	:	PUNCT
fbem-11083	80	74	asset	asset	NOUN
fbem-11083	80	75	liability	liability	NOUN
fbem-11083	80	76	ratio	ratio	NOUN
fbem-11083	80	77	indicators	indicator	NOUN
fbem-11083	80	78	for	for	ADP
fbem-11083	80	79	wuliangye	wuliangye	NOUN
fbem-11083	80	80	year	year	NOUN
fbem-11083	80	81	2017	2017	NUM
fbem-11083	80	82	2018	2018	NUM
fbem-11083	80	83	2019	2019	NUM
fbem-11083	80	84	2020	2020	NUM
fbem-11083	80	85	2021	2021	NUM
fbem-11083	80	86	index	index	NOUN
fbem-11083	80	87	22.91	22.91	NUM
fbem-11083	80	88	%	%	NOUN
fbem-11083	80	89	24.36	24.36	NUM
fbem-11083	80	90	%	%	NOUN
fbem-11083	80	91	28.48	28.48	NUM
fbem-11083	80	92	%	%	NOUN
fbem-11083	80	93	22.95	22.95	NUM
fbem-11083	80	94	%	%	NOUN
fbem-11083	80	95	25.24	25.24	NUM
fbem-11083	80	96	%	%	NOUN
fbem-11083	80	97	data	datum	NOUN
fbem-11083	80	98	source	source	NOUN
fbem-11083	80	99	:	:	PUNCT
fbem-11083	80	100	csmar	csmar	PROPN
fbem-11083	80	101	figure	figure	VERB
fbem-11083	80	102	2.2.1	2.2.1	NUM
fbem-11083	80	103	:	:	PUNCT
fbem-11083	80	104	trend	trend	NOUN
fbem-11083	80	105	of	of	ADP
fbem-11083	80	106	asset	asset	NOUN
fbem-11083	80	107	liability	liability	NOUN
fbem-11083	80	108	ratio	ratio	NOUN
fbem-11083	80	109	2.2.2	2.2.2	NUM
fbem-11083	80	110	.	.	PUNCT
fbem-11083	81	1	current	current	ADJ
fbem-11083	81	2	ratio	ratio	NOUN
fbem-11083	81	3	analysis	analysis	NOUN
fbem-11083	81	4	the	the	DET
fbem-11083	81	5	current	current	ADJ
fbem-11083	81	6	ratio	ratio	NOUN
fbem-11083	81	7	,	,	PUNCT
fbem-11083	81	8	a	a	DET
fbem-11083	81	9	critical	critical	ADJ
fbem-11083	81	10	liquidity	liquidity	NOUN
fbem-11083	81	11	ratio	ratio	NOUN
fbem-11083	81	12	,	,	PUNCT
fbem-11083	81	13	is	be	AUX
fbem-11083	81	14	computed	compute	VERB
fbem-11083	81	15	as	as	ADP
fbem-11083	81	16	(	(	PUNCT
fbem-11083	81	17	current	current	ADJ
fbem-11083	81	18	assets	asset	NOUN
fbem-11083	81	19	/	/	SYM
fbem-11083	81	20	current	current	ADJ
fbem-11083	81	21	liabilities	liability	NOUN
fbem-11083	81	22	)	)	PUNCT
fbem-11083	82	1	*	*	PUNCT
fbem-11083	82	2	100	100	NUM
fbem-11083	82	3	%	%	NOUN
fbem-11083	82	4	.	.	PUNCT
fbem-11083	83	1	it	it	PRON
fbem-11083	83	2	represents	represent	VERB
fbem-11083	83	3	a	a	DET
fbem-11083	83	4	company	company	NOUN
fbem-11083	83	5	's	's	PART
fbem-11083	83	6	ability	ability	NOUN
fbem-11083	83	7	to	to	PART
fbem-11083	83	8	meet	meet	VERB
fbem-11083	83	9	its	its	PRON
fbem-11083	83	10	short	short	ADJ
fbem-11083	83	11	-	-	PUNCT
fbem-11083	83	12	term	term	NOUN
fbem-11083	83	13	debt	debt	NOUN
fbem-11083	83	14	obligations	obligation	NOUN
fbem-11083	83	15	at	at	ADP
fbem-11083	83	16	a	a	DET
fbem-11083	83	17	specific	specific	ADJ
fbem-11083	83	18	point	point	NOUN
fbem-11083	83	19	in	in	ADP
fbem-11083	83	20	time	time	NOUN
fbem-11083	83	21	.	.	PUNCT
fbem-11083	84	1	a	a	DET
fbem-11083	84	2	higher	high	ADJ
fbem-11083	84	3	current	current	ADJ
fbem-11083	84	4	ratio	ratio	NOUN
fbem-11083	84	5	signifies	signify	VERB
fbem-11083	84	6	a	a	DET
fbem-11083	84	7	more	more	ADV
fbem-11083	84	8	robust	robust	ADJ
fbem-11083	84	9	short	short	ADJ
fbem-11083	84	10	-	-	PUNCT
fbem-11083	84	11	term	term	NOUN
fbem-11083	84	12	debt	debt	NOUN
fbem-11083	84	13	-	-	PUNCT
fbem-11083	84	14	paying	pay	VERB
fbem-11083	84	15	capacity	capacity	NOUN
fbem-11083	84	16	,	,	PUNCT
fbem-11083	84	17	while	while	SCONJ
fbem-11083	84	18	a	a	DET
fbem-11083	84	19	lower	low	ADJ
fbem-11083	84	20	ratio	ratio	NOUN
fbem-11083	84	21	indicates	indicate	VERB
fbem-11083	84	22	a	a	DET
fbem-11083	84	23	relatively	relatively	ADV
fbem-11083	84	24	weaker	weak	ADJ
fbem-11083	84	25	ability	ability	NOUN
fbem-11083	84	26	to	to	PART
fbem-11083	84	27	cover	cover	VERB
fbem-11083	84	28	short	short	ADJ
fbem-11083	84	29	-	-	PUNCT
fbem-11083	84	30	term	term	NOUN
fbem-11083	84	31	liabilities	liability	NOUN
fbem-11083	84	32	.	.	PUNCT
fbem-11083	85	1	drawing	draw	VERB
fbem-11083	85	2	upon	upon	SCONJ
fbem-11083	85	3	the	the	DET
fbem-11083	85	4	analysis	analysis	NOUN
fbem-11083	85	5	presented	present	VERB
fbem-11083	85	6	in	in	ADP
fbem-11083	85	7	table	table	NOUN
fbem-11083	85	8	2.2.2.1	2.2.2.1	NUM
fbem-11083	85	9	and	and	CCONJ
fbem-11083	85	10	figure	figure	NOUN
fbem-11083	85	11	2.2.2	2.2.2	NUM
fbem-11083	85	12	,	,	PUNCT
fbem-11083	85	13	it	it	PRON
fbem-11083	85	14	is	be	AUX
fbem-11083	85	15	evident	evident	ADJ
fbem-11083	85	16	that	that	SCONJ
fbem-11083	85	17	guizhou	guizhou	PROPN
fbem-11083	85	18	maotai	maotai	PROPN
fbem-11083	85	19	's	's	PART
fbem-11083	85	20	current	current	ADJ
fbem-11083	85	21	ratio	ratio	NOUN
fbem-11083	85	22	exhibited	exhibit	VERB
fbem-11083	85	23	fluctuating	fluctuate	VERB
fbem-11083	85	24	upward	upward	ADJ
fbem-11083	85	25	trends	trend	NOUN
fbem-11083	85	26	from	from	ADP
fbem-11083	85	27	2017	2017	NUM
fbem-11083	85	28	to	to	ADP
fbem-11083	85	29	2021	2021	NUM
fbem-11083	85	30	.	.	PUNCT
fbem-11083	86	1	during	during	ADP
fbem-11083	86	2	this	this	DET
fbem-11083	86	3	period	period	NOUN
fbem-11083	86	4	,	,	PUNCT
fbem-11083	86	5	guizhou	guizhou	PROPN
fbem-11083	86	6	maotai	maotai	PROPN
fbem-11083	86	7	's	's	PART
fbem-11083	86	8	current	current	ADJ
fbem-11083	86	9	ratio	ratio	NOUN
fbem-11083	86	10	recorded	record	VERB
fbem-11083	86	11	values	value	NOUN
fbem-11083	86	12	of	of	ADP
fbem-11083	86	13	2.91	2.91	NUM
fbem-11083	86	14	,	,	PUNCT
fbem-11083	86	15	3.25	3.25	NUM
fbem-11083	86	16	,	,	PUNCT
fbem-11083	86	17	3.87	3.87	NUM
fbem-11083	86	18	,	,	PUNCT
fbem-11083	86	19	4.06	4.06	NUM
fbem-11083	86	20	,	,	PUNCT
fbem-11083	86	21	and	and	CCONJ
fbem-11083	86	22	3.81	3.81	NUM
fbem-11083	86	23	,	,	PUNCT
fbem-11083	86	24	respectively	respectively	ADV
fbem-11083	86	25	.	.	PUNCT
fbem-11083	87	1	furthermore	furthermore	ADV
fbem-11083	87	2	,	,	PUNCT
fbem-11083	87	3	the	the	DET
fbem-11083	87	4	year	year	NOUN
fbem-11083	87	5	-	-	PUNCT
fbem-11083	87	6	on	on	ADP
fbem-11083	87	7	-	-	PUNCT
fbem-11083	87	8	year	year	NOUN
fbem-11083	87	9	growth	growth	NOUN
fbem-11083	87	10	rates	rate	NOUN
fbem-11083	87	11	of	of	ADP
fbem-11083	87	12	current	current	ADJ
fbem-11083	87	13	liabilities	liability	NOUN
fbem-11083	87	14	for	for	ADP
fbem-11083	87	15	the	the	DET
fbem-11083	87	16	same	same	ADJ
fbem-11083	87	17	period	period	NOUN
fbem-11083	87	18	were	be	AUX
fbem-11083	87	19	4.20	4.20	NUM
fbem-11083	87	20	%	%	NOUN
fbem-11083	87	21	,	,	PUNCT
fbem-11083	87	22	10.01	10.01	NUM
fbem-11083	87	23	%	%	NOUN
fbem-11083	87	24	,	,	PUNCT
fbem-11083	87	25	-3.17	-3.17	ADJ
fbem-11083	87	26	%	%	NOUN
fbem-11083	87	27	,	,	PUNCT
fbem-11083	87	28	11.15	11.15	NUM
fbem-11083	87	29	%	%	NOUN
fbem-11083	87	30	,	,	PUNCT
fbem-11083	87	31	and	and	CCONJ
fbem-11083	87	32	26.80	26.80	NUM
fbem-11083	87	33	%	%	NOUN
fbem-11083	87	34	,	,	PUNCT
fbem-11083	87	35	while	while	SCONJ
fbem-11083	87	36	the	the	DET
fbem-11083	87	37	growth	growth	NOUN
fbem-11083	87	38	rates	rate	NOUN
fbem-11083	87	39	of	of	ADP
fbem-11083	87	40	current	current	ADJ
fbem-11083	87	41	assets	asset	NOUN
fbem-11083	87	42	were	be	AUX
fbem-11083	87	43	24.47	24.47	NUM
fbem-11083	87	44	%	%	NOUN
fbem-11083	87	45	,	,	PUNCT
fbem-11083	87	46	22.82	22.82	NUM
fbem-11083	87	47	%	%	NOUN
fbem-11083	87	48	,	,	PUNCT
fbem-11083	87	49	15.35	15.35	NUM
fbem-11083	87	50	%	%	NOUN
fbem-11083	87	51	,	,	PUNCT
fbem-11083	87	52	16.74	16.74	NUM
fbem-11083	87	53	%	%	NOUN
fbem-11083	87	54	,	,	PUNCT
fbem-11083	87	55	and	and	CCONJ
fbem-11083	87	56	18.91	18.91	NUM
fbem-11083	87	57	%	%	NOUN
fbem-11083	87	58	,	,	PUNCT
fbem-11083	87	59	respectively	respectively	ADV
fbem-11083	87	60	.	.	PUNCT
fbem-11083	88	1	the	the	DET
fbem-11083	88	2	increase	increase	NOUN
fbem-11083	88	3	in	in	ADP
fbem-11083	88	4	guizhou	guizhou	PROPN
fbem-11083	88	5	maotai	maotai	PROPN
fbem-11083	88	6	's	's	PART
fbem-11083	88	7	current	current	ADJ
fbem-11083	88	8	ratio	ratio	NOUN
fbem-11083	88	9	during	during	ADP
fbem-11083	88	10	this	this	DET
fbem-11083	88	11	period	period	NOUN
fbem-11083	88	12	can	can	AUX
fbem-11083	88	13	be	be	AUX
fbem-11083	88	14	primarily	primarily	ADV
fbem-11083	88	15	attributed	attribute	VERB
fbem-11083	88	16	to	to	ADP
fbem-11083	88	17	the	the	DET
fbem-11083	88	18	growth	growth	NOUN
fbem-11083	88	19	in	in	ADP
fbem-11083	88	20	current	current	ADJ
fbem-11083	88	21	assets	asset	NOUN
fbem-11083	88	22	,	,	PUNCT
fbem-11083	88	23	reflecting	reflect	VERB
fbem-11083	88	24	the	the	DET
fbem-11083	88	25	company	company	NOUN
fbem-11083	88	26	's	's	PART
fbem-11083	88	27	enhanced	enhance	VERB
fbem-11083	88	28	short	short	ADJ
fbem-11083	88	29	-	-	PUNCT
fbem-11083	88	30	term	term	NOUN
fbem-11083	88	31	debt	debt	NOUN
fbem-11083	88	32	-	-	PUNCT
fbem-11083	88	33	paying	pay	VERB
fbem-11083	88	34	ability	ability	NOUN
fbem-11083	88	35	.	.	PUNCT
fbem-11083	89	1	as	as	ADP
fbem-11083	89	2	per	per	ADP
fbem-11083	89	3	table	table	NOUN
fbem-11083	89	4	2.2.2.2	2.2.2.2	NUM
fbem-11083	89	5	and	and	CCONJ
fbem-11083	89	6	figure	figure	NOUN
fbem-11083	89	7	2.2.2	2.2.2	NUM
fbem-11083	89	8	,	,	PUNCT
fbem-11083	89	9	from	from	ADP
fbem-11083	89	10	2017	2017	NUM
fbem-11083	89	11	to	to	ADP
fbem-11083	89	12	2021	2021	NUM
fbem-11083	89	13	,	,	PUNCT
fbem-11083	89	14	wuliangye	wuliangye	PROPN
fbem-11083	89	15	's	's	PART
fbem-11083	89	16	current	current	ADJ
fbem-11083	89	17	ratio	ratio	NOUN
fbem-11083	89	18	displayed	display	VERB
fbem-11083	89	19	values	value	NOUN
fbem-11083	89	20	of	of	ADP
fbem-11083	89	21	3.96	3.96	NUM
fbem-11083	89	22	,	,	PUNCT
fbem-11083	89	23	3.77	3.77	NUM
fbem-11083	89	24	,	,	PUNCT
fbem-11083	89	25	3.22	3.22	NUM
fbem-11083	89	26	,	,	PUNCT
fbem-11083	89	27	3.96	3.96	NUM
fbem-11083	89	28	,	,	PUNCT
fbem-11083	89	29	and	and	CCONJ
fbem-11083	89	30	3.63	3.63	NUM
fbem-11083	89	31	,	,	PUNCT
fbem-11083	89	32	respectively	respectively	ADV
fbem-11083	89	33	.	.	PUNCT
fbem-11083	90	1	from	from	ADP
fbem-11083	90	2	2018	2018	NUM
fbem-11083	90	3	to	to	ADP
fbem-11083	90	4	2021	2021	NUM
fbem-11083	90	5	,	,	PUNCT
fbem-11083	90	6	the	the	DET
fbem-11083	90	7	year	year	NOUN
fbem-11083	90	8	-	-	PUNCT
fbem-11083	90	9	on	on	ADP
fbem-11083	90	10	-	-	PUNCT
fbem-11083	90	11	year	year	NOUN
fbem-11083	90	12	growth	growth	NOUN
fbem-11083	90	13	rates	rate	NOUN
fbem-11083	90	14	of	of	ADP
fbem-11083	90	15	current	current	ADJ
fbem-11083	90	16	liabilities	liability	NOUN
fbem-11083	90	17	for	for	ADP
fbem-11083	90	18	wuliangye	wuliangye	NOUN
fbem-11083	90	19	were	be	AUX
fbem-11083	90	20	29.68	29.68	NUM
fbem-11083	90	21	%	%	NOUN
fbem-11083	90	22	,	,	PUNCT
fbem-11083	90	23	45.04	45.04	NUM
fbem-11083	90	24	%	%	NOUN
fbem-11083	90	25	,	,	PUNCT
fbem-11083	90	26	-13.84	-13.84	NOUN
fbem-11083	90	27	%	%	NOUN
fbem-11083	90	28	,	,	PUNCT
fbem-11083	90	29	and	and	CCONJ
fbem-11083	90	30	29.90	29.90	NUM
fbem-11083	90	31	%	%	NOUN
fbem-11083	90	32	,	,	PUNCT
fbem-11083	90	33	respectively	respectively	ADV
fbem-11083	90	34	.	.	PUNCT
fbem-11083	91	1	concurrently	concurrently	ADV
fbem-11083	91	2	,	,	PUNCT
fbem-11083	91	3	the	the	DET
fbem-11083	91	4	growth	growth	NOUN
fbem-11083	91	5	rates	rate	NOUN
fbem-11083	91	6	of	of	ADP
fbem-11083	91	7	current	current	ADJ
fbem-11083	91	8	assets	asset	NOUN
fbem-11083	91	9	were	be	AUX
fbem-11083	91	10	23.44	23.44	NUM
fbem-11083	91	11	%	%	NOUN
fbem-11083	91	12	,	,	PUNCT
fbem-11083	91	13	23.71	23.71	NUM
fbem-11083	91	14	%	%	NOUN
fbem-11083	91	15	,	,	PUNCT
fbem-11083	91	16	5.93	5.93	NUM
fbem-11083	91	17	%	%	NOUN
fbem-11083	91	18	,	,	PUNCT
fbem-11083	91	19	and	and	CCONJ
fbem-11083	91	20	19.33	19.33	NUM
fbem-11083	91	21	%	%	NOUN
fbem-11083	91	22	,	,	PUNCT
fbem-11083	91	23	respectively	respectively	ADV
fbem-11083	91	24	.	.	PUNCT
fbem-11083	92	1	in	in	ADP
fbem-11083	92	2	2017	2017	NUM
fbem-11083	92	3	,	,	PUNCT
fbem-11083	92	4	wuliangye	wuliangye	PROPN
fbem-11083	92	5	's	's	PART
fbem-11083	92	6	current	current	ADJ
fbem-11083	92	7	ratio	ratio	NOUN
fbem-11083	92	8	exhibited	exhibit	VERB
fbem-11083	92	9	a	a	DET
fbem-11083	92	10	trend	trend	NOUN
fbem-11083	92	11	opposite	opposite	ADJ
fbem-11083	92	12	to	to	ADP
fbem-11083	92	13	that	that	PRON
fbem-11083	92	14	of	of	ADP
fbem-11083	92	15	its	its	PRON
fbem-11083	92	16	asset	asset	NOUN
fbem-11083	92	17	liability	liability	NOUN
fbem-11083	92	18	ratio	ratio	NOUN
fbem-11083	92	19	,	,	PUNCT
fbem-11083	92	20	although	although	SCONJ
fbem-11083	92	21	the	the	DET
fbem-11083	92	22	underlying	underlying	ADJ
fbem-11083	92	23	reasons	reason	NOUN
fbem-11083	92	24	were	be	AUX
fbem-11083	92	25	similar	similar	ADJ
fbem-11083	92	26	.	.	PUNCT
fbem-11083	93	1	from	from	ADP
fbem-11083	93	2	2017	2017	NUM
fbem-11083	93	3	to	to	ADP
fbem-11083	93	4	2019	2019	NUM
fbem-11083	93	5	,	,	PUNCT
fbem-11083	93	6	the	the	DET
fbem-11083	93	7	reduction	reduction	NOUN
fbem-11083	93	8	in	in	ADP
fbem-11083	93	9	the	the	DET
fbem-11083	93	10	current	current	ADJ
fbem-11083	93	11	ratio	ratio	NOUN
fbem-11083	93	12	was	be	AUX
fbem-11083	93	13	primarily	primarily	ADV
fbem-11083	93	14	due	due	ADJ
fbem-11083	93	15	to	to	ADP
fbem-11083	93	16	a	a	DET
fbem-11083	93	17	substantial	substantial	ADJ
fbem-11083	93	18	increase	increase	NOUN
fbem-11083	93	19	in	in	ADP
fbem-11083	93	20	liabilities	liability	NOUN
fbem-11083	93	21	,	,	PUNCT
fbem-11083	93	22	while	while	SCONJ
fbem-11083	93	23	the	the	DET
fbem-11083	93	24	increase	increase	NOUN
fbem-11083	93	25	in	in	ADP
fbem-11083	93	26	2020	2020	NUM
fbem-11083	93	27	was	be	AUX
fbem-11083	93	28	a	a	DET
fbem-11083	93	29	result	result	NOUN
fbem-11083	93	30	of	of	ADP
fbem-11083	93	31	a	a	DET
fbem-11083	93	32	significant	significant	ADJ
fbem-11083	93	33	decrease	decrease	NOUN
fbem-11083	93	34	in	in	ADP
fbem-11083	93	35	current	current	ADJ
fbem-11083	93	36	liabilities	liability	NOUN
fbem-11083	93	37	.	.	PUNCT
fbem-11083	94	1	in	in	ADP
fbem-11083	94	2	2021	2021	NUM
fbem-11083	94	3	,	,	PUNCT
fbem-11083	94	4	an	an	DET
fbem-11083	94	5	increase	increase	NOUN
fbem-11083	94	6	in	in	ADP
fbem-11083	94	7	current	current	ADJ
fbem-11083	94	8	liabilities	liability	NOUN
fbem-11083	94	9	caused	cause	VERB
fbem-11083	94	10	wuliangye	wuliangye	NOUN
fbem-11083	94	11	's	's	PART
fbem-11083	94	12	current	current	ADJ
fbem-11083	94	13	ratio	ratio	NOUN
fbem-11083	94	14	to	to	PART
fbem-11083	94	15	decrease	decrease	VERB
fbem-11083	94	16	once	once	ADV
fbem-11083	94	17	again	again	ADV
fbem-11083	94	18	.	.	PUNCT
fbem-11083	95	1	based	base	VERB
fbem-11083	95	2	on	on	ADP
fbem-11083	95	3	the	the	DET
fbem-11083	95	4	comprehensive	comprehensive	ADJ
fbem-11083	95	5	analysis	analysis	NOUN
fbem-11083	95	6	of	of	ADP
fbem-11083	95	7	both	both	DET
fbem-11083	95	8	companies	company	NOUN
fbem-11083	95	9	,	,	PUNCT
fbem-11083	95	10	it	it	PRON
fbem-11083	95	11	is	be	AUX
fbem-11083	95	12	evident	evident	ADJ
fbem-11083	95	13	that	that	SCONJ
fbem-11083	95	14	since	since	SCONJ
fbem-11083	95	15	2019	2019	NUM
fbem-11083	95	16	,	,	PUNCT
fbem-11083	95	17	guizhou	guizhou	NOUN
fbem-11083	95	18	maotai	maotai	PROPN
fbem-11083	95	19	has	have	AUX
fbem-11083	95	20	consistently	consistently	ADV
fbem-11083	95	21	maintained	maintain	VERB
fbem-11083	95	22	a	a	DET
fbem-11083	95	23	higher	high	ADJ
fbem-11083	95	24	current	current	ADJ
fbem-11083	95	25	ratio	ratio	NOUN
fbem-11083	95	26	than	than	ADP
fbem-11083	95	27	wuliangye	wuliangye	NOUN
fbem-11083	95	28	,	,	PUNCT
fbem-11083	95	29	indicating	indicate	VERB
fbem-11083	95	30	a	a	DET
fbem-11083	95	31	stronger	strong	ADJ
fbem-11083	95	32	ability	ability	NOUN
fbem-11083	95	33	to	to	PART
fbem-11083	95	34	meet	meet	VERB
fbem-11083	95	35	short	short	ADJ
fbem-11083	95	36	-	-	PUNCT
fbem-11083	95	37	term	term	NOUN
fbem-11083	95	38	debt	debt	NOUN
fbem-11083	95	39	obligations	obligation	NOUN
fbem-11083	95	40	.	.	PUNCT
fbem-11083	96	1	these	these	DET
fbem-11083	96	2	findings	finding	NOUN
fbem-11083	96	3	offer	offer	VERB
fbem-11083	96	4	valuable	valuable	ADJ
fbem-11083	96	5	insights	insight	NOUN
fbem-11083	96	6	into	into	ADP
fbem-11083	96	7	the	the	DET
fbem-11083	96	8	companies	company	NOUN
fbem-11083	96	9	'	'	PART
fbem-11083	96	10	short	short	ADJ
fbem-11083	96	11	-	-	PUNCT
fbem-11083	96	12	term	term	NOUN
fbem-11083	96	13	financial	financial	ADJ
fbem-11083	96	14	positions	position	NOUN
fbem-11083	96	15	and	and	CCONJ
fbem-11083	96	16	contribute	contribute	VERB
fbem-11083	96	17	to	to	ADP
fbem-11083	96	18	a	a	DET
fbem-11083	96	19	nuanced	nuanced	ADJ
fbem-11083	96	20	understanding	understanding	NOUN
fbem-11083	96	21	of	of	ADP
fbem-11083	96	22	their	their	PRON
fbem-11083	96	23	debt	debt	NOUN
fbem-11083	96	24	-	-	PUNCT
fbem-11083	96	25	paying	pay	VERB
fbem-11083	96	26	abilities	ability	NOUN
fbem-11083	96	27	in	in	ADP
fbem-11083	96	28	the	the	DET
fbem-11083	96	29	academic	academic	ADJ
fbem-11083	96	30	context	context	NOUN
fbem-11083	96	31	.	.	PUNCT
fbem-11083	97	1	table	table	NOUN
fbem-11083	97	2	2.2.2.1	2.2.2.1	NUM
fbem-11083	97	3	:	:	PUNCT
fbem-11083	97	4	current	current	ADJ
fbem-11083	97	5	ratio	ratio	NOUN
fbem-11083	97	6	indicators	indicator	NOUN
fbem-11083	97	7	for	for	ADP
fbem-11083	97	8	guizhou	guizhou	PROPN
fbem-11083	97	9	maotai	maotai	PROPN
fbem-11083	97	10	year	year	NOUN
fbem-11083	97	11	2017	2017	NUM
fbem-11083	97	12	2018	2018	NUM
fbem-11083	97	13	2019	2019	NUM
fbem-11083	97	14	2020	2020	NUM
fbem-11083	97	15	2021	2021	NUM
fbem-11083	97	16	index	index	NOUN
fbem-11083	97	17	2.91	2.91	NUM
fbem-11083	97	18	3.25	3.25	NUM
fbem-11083	97	19	3.87	3.87	NUM
fbem-11083	97	20	4.06	4.06	NUM
fbem-11083	97	21	3.81	3.81	NUM
fbem-11083	97	22	table	table	NOUN
fbem-11083	98	1	2.2.2.2	2.2.2.2	NUM
fbem-11083	98	2	:	:	PUNCT
fbem-11083	98	3	current	current	ADJ
fbem-11083	98	4	ratio	ratio	NOUN
fbem-11083	98	5	indicators	indicator	NOUN
fbem-11083	98	6	for	for	ADP
fbem-11083	98	7	wuliangye	wuliangye	NOUN
fbem-11083	98	8	year	year	NOUN
fbem-11083	98	9	2017	2017	NUM
fbem-11083	98	10	2018	2018	NUM
fbem-11083	98	11	2019	2019	NUM
fbem-11083	98	12	2020	2020	NUM
fbem-11083	98	13	2021	2021	NUM
fbem-11083	98	14	index	index	NOUN
fbem-11083	98	15	3.96	3.96	NUM
fbem-11083	98	16	3.77	3.77	NUM
fbem-11083	98	17	3.22	3.22	NUM
fbem-11083	98	18	3.96	3.96	NUM
fbem-11083	98	19	3.63	3.63	NUM
fbem-11083	98	20	0.00	0.00	NUM
fbem-11083	98	21	%	%	NOUN
fbem-11083	98	22	5.00	5.00	NUM
fbem-11083	98	23	%	%	NOUN
fbem-11083	98	24	10.00	10.00	NUM
fbem-11083	98	25	%	%	NOUN
fbem-11083	98	26	15.00	15.00	NUM
fbem-11083	98	27	%	%	NOUN
fbem-11083	98	28	20.00	20.00	NUM
fbem-11083	98	29	%	%	NOUN
fbem-11083	98	30	25.00	25.00	NUM
fbem-11083	98	31	%	%	NOUN
fbem-11083	98	32	30.00	30.00	NUM
fbem-11083	98	33	%	%	NOUN
fbem-11083	98	34	35.00	35.00	NUM
fbem-11083	98	35	%	%	NOUN
fbem-11083	98	36	2017	2017	NUM
fbem-11083	98	37	2018	2018	NUM
fbem-11083	98	38	2019	2019	NUM
fbem-11083	98	39	2020	2020	NUM
fbem-11083	98	40	2021	2021	NUM
fbem-11083	98	41	asset	asset	NOUN
fbem-11083	98	42	liability	liability	NOUN
fbem-11083	98	43	ratio	ratio	NOUN
fbem-11083	98	44	asset	asset	NOUN
fbem-11083	98	45	liability	liability	NOUN
fbem-11083	98	46	ratio	ratio	NOUN
fbem-11083	98	47	indicators	indicator	NOUN
fbem-11083	98	48	for	for	ADP
fbem-11083	98	49	guizhou	guizhou	PROPN
fbem-11083	98	50	maotai（%	maotai（%	PROPN
fbem-11083	98	51	）	）	PROPN
fbem-11083	98	52	asset	asset	NOUN
fbem-11083	98	53	liability	liability	NOUN
fbem-11083	98	54	ratio	ratio	NOUN
fbem-11083	98	55	indicators	indicator	NOUN
fbem-11083	98	56	for	for	ADP
fbem-11083	98	57	wuliangye（%	wuliangye（%	NOUN
fbem-11083	98	58	）	）	SYM
fbem-11083	98	59	387	387	NUM
fbem-11083	98	60	data	datum	NOUN
fbem-11083	98	61	source	source	NOUN
fbem-11083	98	62	:	:	PUNCT
fbem-11083	98	63	csmar	csmar	PROPN
fbem-11083	98	64	figure	figure	VERB
fbem-11083	98	65	2.2.2	2.2.2	NUM
fbem-11083	98	66	:	:	PUNCT
fbem-11083	98	67	trend	trend	NOUN
fbem-11083	98	68	of	of	ADP
fbem-11083	98	69	current	current	ADJ
fbem-11083	98	70	ratio	ratio	NOUN
fbem-11083	98	71	2.2.3	2.2.3	NUM
fbem-11083	98	72	.	.	PUNCT
fbem-11083	99	1	cash	cash	NOUN
fbem-11083	99	2	ratio	ratio	NOUN
fbem-11083	99	3	analysis	analysis	NOUN
fbem-11083	99	4	the	the	DET
fbem-11083	99	5	cash	cash	NOUN
fbem-11083	99	6	ratio	ratio	NOUN
fbem-11083	99	7	is	be	AUX
fbem-11083	99	8	an	an	DET
fbem-11083	99	9	important	important	ADJ
fbem-11083	99	10	liquidity	liquidity	NOUN
fbem-11083	99	11	measure	measure	NOUN
fbem-11083	99	12	used	use	VERB
fbem-11083	99	13	to	to	PART
fbem-11083	99	14	assess	assess	VERB
fbem-11083	99	15	a	a	DET
fbem-11083	99	16	company	company	NOUN
fbem-11083	99	17	's	's	PART
fbem-11083	99	18	ability	ability	NOUN
fbem-11083	99	19	to	to	PART
fbem-11083	99	20	meet	meet	VERB
fbem-11083	99	21	short	short	ADJ
fbem-11083	99	22	-	-	PUNCT
fbem-11083	99	23	term	term	NOUN
fbem-11083	99	24	debt	debt	NOUN
fbem-11083	99	25	obligations	obligation	NOUN
fbem-11083	99	26	.	.	PUNCT
fbem-11083	100	1	it	it	PRON
fbem-11083	100	2	is	be	AUX
fbem-11083	100	3	calculated	calculate	VERB
fbem-11083	100	4	by	by	ADP
fbem-11083	100	5	dividing	divide	VERB
fbem-11083	100	6	the	the	DET
fbem-11083	100	7	sum	sum	NOUN
fbem-11083	100	8	of	of	ADP
fbem-11083	100	9	cash	cash	NOUN
fbem-11083	100	10	and	and	CCONJ
fbem-11083	100	11	cash	cash	NOUN
fbem-11083	100	12	equivalents	equivalent	NOUN
fbem-11083	100	13	,	,	PUNCT
fbem-11083	100	14	along	along	ADP
fbem-11083	100	15	with	with	ADP
fbem-11083	100	16	marketable	marketable	ADJ
fbem-11083	100	17	securities	security	NOUN
fbem-11083	100	18	,	,	PUNCT
fbem-11083	100	19	by	by	ADP
fbem-11083	100	20	the	the	DET
fbem-11083	100	21	total	total	ADJ
fbem-11083	100	22	current	current	ADJ
fbem-11083	100	23	liabilities	liability	NOUN
fbem-11083	100	24	,	,	PUNCT
fbem-11083	100	25	and	and	CCONJ
fbem-11083	100	26	then	then	ADV
fbem-11083	100	27	expressed	express	VERB
fbem-11083	100	28	as	as	ADP
fbem-11083	100	29	a	a	DET
fbem-11083	100	30	percentage	percentage	NOUN
fbem-11083	100	31	.	.	PUNCT
fbem-11083	101	1	a	a	DET
fbem-11083	101	2	higher	high	ADJ
fbem-11083	101	3	cash	cash	NOUN
fbem-11083	101	4	ratio	ratio	NOUN
fbem-11083	101	5	indicates	indicate	VERB
fbem-11083	101	6	that	that	SCONJ
fbem-11083	101	7	the	the	DET
fbem-11083	101	8	company	company	NOUN
fbem-11083	101	9	has	have	VERB
fbem-11083	101	10	a	a	DET
fbem-11083	101	11	larger	large	ADJ
fbem-11083	101	12	proportion	proportion	NOUN
fbem-11083	101	13	of	of	ADP
fbem-11083	101	14	liquid	liquid	ADJ
fbem-11083	101	15	assets	asset	NOUN
fbem-11083	101	16	available	available	ADJ
fbem-11083	101	17	to	to	PART
fbem-11083	101	18	cover	cover	VERB
fbem-11083	101	19	its	its	PRON
fbem-11083	101	20	short	short	ADJ
fbem-11083	101	21	-	-	PUNCT
fbem-11083	101	22	term	term	NOUN
fbem-11083	101	23	debts	debt	NOUN
fbem-11083	101	24	,	,	PUNCT
fbem-11083	101	25	indicating	indicate	VERB
fbem-11083	101	26	a	a	DET
fbem-11083	101	27	stronger	strong	ADJ
fbem-11083	101	28	short	short	ADJ
fbem-11083	101	29	-	-	PUNCT
fbem-11083	101	30	term	term	NOUN
fbem-11083	101	31	debt	debt	NOUN
fbem-11083	101	32	-	-	PUNCT
fbem-11083	101	33	paying	pay	VERB
fbem-11083	101	34	ability	ability	NOUN
fbem-11083	101	35	.	.	PUNCT
fbem-11083	102	1	based	base	VERB
fbem-11083	102	2	on	on	ADP
fbem-11083	102	3	the	the	DET
fbem-11083	102	4	data	datum	NOUN
fbem-11083	102	5	presented	present	VERB
fbem-11083	102	6	in	in	ADP
fbem-11083	102	7	table	table	NOUN
fbem-11083	102	8	2.2.3.1	2.2.3.1	NUM
fbem-11083	102	9	and	and	CCONJ
fbem-11083	102	10	figure	figure	VERB
fbem-11083	102	11	2.2.3	2.2.3	NUM
fbem-11083	102	12	,	,	PUNCT
fbem-11083	102	13	we	we	PRON
fbem-11083	102	14	observe	observe	VERB
fbem-11083	102	15	that	that	SCONJ
fbem-11083	102	16	guizhou	guizhou	PROPN
fbem-11083	102	17	maotai	maotai	PROPN
fbem-11083	102	18	's	's	PART
fbem-11083	102	19	cash	cash	NOUN
fbem-11083	102	20	ratio	ratio	NOUN
fbem-11083	102	21	was	be	AUX
fbem-11083	102	22	227.88	227.88	NUM
fbem-11083	102	23	%	%	NOUN
fbem-11083	102	24	in	in	ADP
fbem-11083	102	25	2017	2017	NUM
fbem-11083	102	26	and	and	CCONJ
fbem-11083	102	27	further	far	ADV
fbem-11083	102	28	increased	increase	VERB
fbem-11083	102	29	to	to	ADP
fbem-11083	102	30	264.09	264.09	NUM
fbem-11083	102	31	%	%	NOUN
fbem-11083	102	32	in	in	ADP
fbem-11083	102	33	2018	2018	NUM
fbem-11083	102	34	.	.	PUNCT
fbem-11083	103	1	this	this	DET
fbem-11083	103	2	substantial	substantial	ADJ
fbem-11083	103	3	increase	increase	NOUN
fbem-11083	103	4	was	be	AUX
fbem-11083	103	5	driven	drive	VERB
fbem-11083	103	6	by	by	ADP
fbem-11083	103	7	a	a	DET
fbem-11083	103	8	significant	significant	ADJ
fbem-11083	103	9	growth	growth	NOUN
fbem-11083	103	10	of	of	ADP
fbem-11083	103	11	31.43	31.43	NUM
fbem-11083	103	12	%	%	NOUN
fbem-11083	103	13	and	and	CCONJ
fbem-11083	103	14	27.55	27.55	NUM
fbem-11083	103	15	%	%	NOUN
fbem-11083	103	16	in	in	ADP
fbem-11083	103	17	cash	cash	NOUN
fbem-11083	103	18	and	and	CCONJ
fbem-11083	103	19	cash	cash	NOUN
fbem-11083	103	20	equivalents	equivalent	NOUN
fbem-11083	103	21	during	during	ADP
fbem-11083	103	22	2017	2017	NUM
fbem-11083	103	23	and	and	CCONJ
fbem-11083	103	24	2018	2018	NUM
fbem-11083	103	25	,	,	PUNCT
fbem-11083	103	26	respectively	respectively	ADV
fbem-11083	103	27	.	.	PUNCT
fbem-11083	104	1	however	however	ADV
fbem-11083	104	2	,	,	PUNCT
fbem-11083	104	3	in	in	ADP
fbem-11083	104	4	2019	2019	NUM
fbem-11083	104	5	,	,	PUNCT
fbem-11083	104	6	the	the	DET
fbem-11083	104	7	cash	cash	NOUN
fbem-11083	104	8	ratio	ratio	NOUN
fbem-11083	104	9	witnessed	witness	VERB
fbem-11083	104	10	a	a	DET
fbem-11083	104	11	sharp	sharp	ADJ
fbem-11083	104	12	decline	decline	NOUN
fbem-11083	104	13	to	to	ADP
fbem-11083	104	14	32.29	32.29	NUM
fbem-11083	104	15	%	%	NOUN
fbem-11083	104	16	from	from	ADP
fbem-11083	104	17	the	the	DET
fbem-11083	104	18	previous	previous	ADJ
fbem-11083	104	19	year	year	NOUN
fbem-11083	104	20	's	's	PART
fbem-11083	104	21	level	level	NOUN
fbem-11083	104	22	.	.	PUNCT
fbem-11083	105	1	this	this	PRON
fbem-11083	105	2	was	be	AUX
fbem-11083	105	3	primarily	primarily	ADV
fbem-11083	105	4	due	due	ADJ
fbem-11083	105	5	to	to	ADP
fbem-11083	105	6	a	a	DET
fbem-11083	105	7	decline	decline	NOUN
fbem-11083	105	8	of	of	ADP
fbem-11083	105	9	3.17	3.17	NUM
fbem-11083	105	10	%	%	NOUN
fbem-11083	105	11	in	in	ADP
fbem-11083	105	12	current	current	ADJ
fbem-11083	105	13	liabilities	liability	NOUN
fbem-11083	105	14	and	and	CCONJ
fbem-11083	105	15	a	a	DET
fbem-11083	105	16	substantial	substantial	ADJ
fbem-11083	105	17	reduction	reduction	NOUN
fbem-11083	105	18	of	of	ADP
fbem-11083	105	19	88.18	88.18	NUM
fbem-11083	105	20	%	%	NOUN
fbem-11083	105	21	in	in	ADP
fbem-11083	105	22	cash	cash	NOUN
fbem-11083	105	23	and	and	CCONJ
fbem-11083	105	24	cash	cash	NOUN
fbem-11083	105	25	equivalents	equivalent	NOUN
fbem-11083	105	26	.	.	PUNCT
fbem-11083	106	1	although	although	SCONJ
fbem-11083	106	2	the	the	DET
fbem-11083	106	3	cash	cash	NOUN
fbem-11083	106	4	ratio	ratio	NOUN
fbem-11083	106	5	slightly	slightly	ADV
fbem-11083	106	6	rebounded	rebound	VERB
fbem-11083	106	7	in	in	ADP
fbem-11083	106	8	2020	2020	NUM
fbem-11083	106	9	and	and	CCONJ
fbem-11083	106	10	2021	2021	NUM
fbem-11083	106	11	,	,	PUNCT
fbem-11083	106	12	reaching	reach	VERB
fbem-11083	106	13	79.02	79.02	NUM
fbem-11083	106	14	%	%	NOUN
fbem-11083	106	15	and	and	CCONJ
fbem-11083	106	16	89.46	89.46	NUM
fbem-11083	106	17	%	%	NOUN
fbem-11083	106	18	,	,	PUNCT
fbem-11083	106	19	respectively	respectively	ADV
fbem-11083	106	20	,	,	PUNCT
fbem-11083	106	21	the	the	DET
fbem-11083	106	22	overall	overall	ADJ
fbem-11083	106	23	trend	trend	NOUN
fbem-11083	106	24	indicated	indicate	VERB
fbem-11083	106	25	a	a	DET
fbem-11083	106	26	decrease	decrease	NOUN
fbem-11083	106	27	in	in	ADP
fbem-11083	106	28	the	the	DET
fbem-11083	106	29	company	company	NOUN
fbem-11083	106	30	's	's	PART
fbem-11083	106	31	shortterm	shortterm	NOUN
fbem-11083	106	32	debt	debt	NOUN
fbem-11083	106	33	-	-	PUNCT
fbem-11083	106	34	paying	pay	VERB
fbem-11083	106	35	ability	ability	NOUN
fbem-11083	106	36	during	during	ADP
fbem-11083	106	37	this	this	DET
fbem-11083	106	38	period	period	NOUN
fbem-11083	106	39	.	.	PUNCT
fbem-11083	107	1	contrasting	contrast	VERB
fbem-11083	107	2	the	the	DET
fbem-11083	107	3	findings	finding	NOUN
fbem-11083	107	4	,	,	PUNCT
fbem-11083	107	5	as	as	SCONJ
fbem-11083	107	6	presented	present	VERB
fbem-11083	107	7	in	in	ADP
fbem-11083	107	8	table	table	NOUN
fbem-11083	107	9	2.2.3.2	2.2.3.2	NUM
fbem-11083	107	10	and	and	CCONJ
fbem-11083	107	11	figure	figure	VERB
fbem-11083	107	12	2.2.3	2.2.3	NUM
fbem-11083	107	13	,	,	PUNCT
fbem-11083	107	14	we	we	PRON
fbem-11083	107	15	observe	observe	VERB
fbem-11083	107	16	that	that	SCONJ
fbem-11083	107	17	wuliangye	wuliangye	NOUN
fbem-11083	107	18	's	's	PART
fbem-11083	107	19	cash	cash	NOUN
fbem-11083	107	20	ratio	ratio	NOUN
fbem-11083	107	21	remained	remain	VERB
fbem-11083	107	22	relatively	relatively	ADV
fbem-11083	107	23	stable	stable	ADJ
fbem-11083	107	24	over	over	ADP
fbem-11083	107	25	the	the	DET
fbem-11083	107	26	years	year	NOUN
fbem-11083	107	27	.	.	PUNCT
fbem-11083	108	1	from	from	ADP
fbem-11083	108	2	2017	2017	NUM
fbem-11083	108	3	to	to	ADP
fbem-11083	108	4	2021	2021	NUM
fbem-11083	108	5	,	,	PUNCT
fbem-11083	108	6	wuliangye	wuliangye	PROPN
fbem-11083	108	7	's	's	PART
fbem-11083	108	8	cash	cash	NOUN
fbem-11083	108	9	ratio	ratio	NOUN
fbem-11083	108	10	was	be	AUX
fbem-11083	108	11	254.21	254.21	NUM
fbem-11083	108	12	%	%	NOUN
fbem-11083	108	13	,	,	PUNCT
fbem-11083	108	14	236.43	236.43	NUM
fbem-11083	108	15	%	%	NOUN
fbem-11083	108	16	,	,	PUNCT
fbem-11083	108	17	210.55	210.55	NUM
fbem-11083	108	18	%	%	NOUN
fbem-11083	108	19	,	,	PUNCT
fbem-11083	108	20	263.57	263.57	NUM
fbem-11083	108	21	%	%	NOUN
fbem-11083	108	22	,	,	PUNCT
fbem-11083	108	23	and	and	CCONJ
fbem-11083	108	24	244.93	244.93	NUM
fbem-11083	108	25	%	%	NOUN
fbem-11083	108	26	,	,	PUNCT
fbem-11083	108	27	respectively	respectively	ADV
fbem-11083	108	28	.	.	PUNCT
fbem-11083	109	1	these	these	DET
fbem-11083	109	2	figures	figure	NOUN
fbem-11083	109	3	consistently	consistently	ADV
fbem-11083	109	4	stayed	stay	VERB
fbem-11083	109	5	above	above	ADP
fbem-11083	109	6	2:1	2:1	NUM
fbem-11083	109	7	,	,	PUNCT
fbem-11083	109	8	suggesting	suggest	VERB
fbem-11083	109	9	that	that	SCONJ
fbem-11083	109	10	wuliangye	wuliangye	NOUN
fbem-11083	109	11	maintained	maintain	VERB
fbem-11083	109	12	a	a	DET
fbem-11083	109	13	strong	strong	ADJ
fbem-11083	109	14	liquidity	liquidity	NOUN
fbem-11083	109	15	position	position	NOUN
fbem-11083	109	16	and	and	CCONJ
fbem-11083	109	17	stable	stable	ADJ
fbem-11083	109	18	short	short	ADJ
fbem-11083	109	19	-	-	PUNCT
fbem-11083	109	20	term	term	NOUN
fbem-11083	109	21	debt	debt	NOUN
fbem-11083	109	22	-	-	PUNCT
fbem-11083	109	23	paying	pay	VERB
fbem-11083	109	24	ability	ability	NOUN
fbem-11083	109	25	.	.	PUNCT
fbem-11083	110	1	however	however	ADV
fbem-11083	110	2	,	,	PUNCT
fbem-11083	110	3	it	it	PRON
fbem-11083	110	4	is	be	AUX
fbem-11083	110	5	worth	worth	ADJ
fbem-11083	110	6	noting	note	VERB
fbem-11083	110	7	that	that	SCONJ
fbem-11083	110	8	an	an	DET
fbem-11083	110	9	excessively	excessively	ADV
fbem-11083	110	10	high	high	ADJ
fbem-11083	110	11	proportion	proportion	NOUN
fbem-11083	110	12	of	of	ADP
fbem-11083	110	13	cash	cash	NOUN
fbem-11083	110	14	and	and	CCONJ
fbem-11083	110	15	cash	cash	NOUN
fbem-11083	110	16	equivalents	equivalent	NOUN
fbem-11083	110	17	in	in	ADP
fbem-11083	110	18	a	a	DET
fbem-11083	110	19	company	company	NOUN
fbem-11083	110	20	's	's	PART
fbem-11083	110	21	assets	asset	NOUN
fbem-11083	110	22	may	may	AUX
fbem-11083	110	23	hinder	hinder	VERB
fbem-11083	110	24	efficient	efficient	ADJ
fbem-11083	110	25	capital	capital	NOUN
fbem-11083	110	26	utilization	utilization	NOUN
fbem-11083	110	27	,	,	PUNCT
fbem-11083	110	28	potentially	potentially	ADV
fbem-11083	110	29	affecting	affect	VERB
fbem-11083	110	30	its	its	PRON
fbem-11083	110	31	overall	overall	ADJ
fbem-11083	110	32	profitability	profitability	NOUN
fbem-11083	110	33	.	.	PUNCT
fbem-11083	111	1	additionally	additionally	ADV
fbem-11083	111	2	,	,	PUNCT
fbem-11083	111	3	the	the	DET
fbem-11083	111	4	relatively	relatively	ADV
fbem-11083	111	5	high	high	ADJ
fbem-11083	111	6	proportion	proportion	NOUN
fbem-11083	111	7	of	of	ADP
fbem-11083	111	8	owner	owner	NOUN
fbem-11083	111	9	's	's	PART
fbem-11083	111	10	equity	equity	NOUN
fbem-11083	111	11	to	to	AUX
fbem-11083	111	12	total	total	ADJ
fbem-11083	111	13	capital	capital	NOUN
fbem-11083	111	14	for	for	ADP
fbem-11083	111	15	wuliangye	wuliangye	NOUN
fbem-11083	111	16	implies	imply	VERB
fbem-11083	111	17	that	that	SCONJ
fbem-11083	111	18	the	the	DET
fbem-11083	111	19	company	company	NOUN
fbem-11083	111	20	has	have	AUX
fbem-11083	111	21	not	not	PART
fbem-11083	111	22	fully	fully	ADV
fbem-11083	111	23	utilized	utilize	VERB
fbem-11083	111	24	financial	financial	ADJ
fbem-11083	111	25	leverage	leverage	NOUN
fbem-11083	111	26	,	,	PUNCT
fbem-11083	111	27	which	which	PRON
fbem-11083	111	28	might	might	AUX
fbem-11083	111	29	have	have	VERB
fbem-11083	111	30	an	an	DET
fbem-11083	111	31	impact	impact	NOUN
fbem-11083	111	32	on	on	ADP
fbem-11083	111	33	its	its	PRON
fbem-11083	111	34	overall	overall	ADJ
fbem-11083	111	35	profitgenerating	profitgenerate	VERB
fbem-11083	111	36	capability	capability	NOUN
fbem-11083	111	37	.	.	PUNCT
fbem-11083	112	1	in	in	ADP
fbem-11083	112	2	conclusion	conclusion	NOUN
fbem-11083	112	3	,	,	PUNCT
fbem-11083	112	4	wuliangye	wuliangye	PROPN
fbem-11083	112	5	's	's	PART
fbem-11083	112	6	higher	high	ADJ
fbem-11083	112	7	proportion	proportion	NOUN
fbem-11083	112	8	of	of	ADP
fbem-11083	112	9	cash	cash	NOUN
fbem-11083	112	10	and	and	CCONJ
fbem-11083	112	11	cash	cash	NOUN
fbem-11083	112	12	equivalents	equivalent	NOUN
fbem-11083	112	13	,	,	PUNCT
fbem-11083	112	14	while	while	SCONJ
fbem-11083	112	15	ensuring	ensure	VERB
fbem-11083	112	16	a	a	DET
fbem-11083	112	17	robust	robust	ADJ
fbem-11083	112	18	debt	debt	NOUN
fbem-11083	112	19	-	-	PUNCT
fbem-11083	112	20	paying	pay	VERB
fbem-11083	112	21	ability	ability	NOUN
fbem-11083	112	22	,	,	PUNCT
fbem-11083	112	23	may	may	AUX
fbem-11083	112	24	also	also	ADV
fbem-11083	112	25	have	have	VERB
fbem-11083	112	26	implications	implication	NOUN
fbem-11083	112	27	on	on	ADP
fbem-11083	112	28	its	its	PRON
fbem-11083	112	29	profitability	profitability	NOUN
fbem-11083	112	30	.	.	PUNCT
fbem-11083	113	1	to	to	PART
fbem-11083	113	2	ensure	ensure	VERB
fbem-11083	113	3	a	a	DET
fbem-11083	113	4	comprehensive	comprehensive	ADJ
fbem-11083	113	5	analysis	analysis	NOUN
fbem-11083	113	6	,	,	PUNCT
fbem-11083	113	7	further	further	ADJ
fbem-11083	113	8	examination	examination	NOUN
fbem-11083	113	9	of	of	ADP
fbem-11083	113	10	other	other	ADJ
fbem-11083	113	11	financial	financial	ADJ
fbem-11083	113	12	metrics	metric	NOUN
fbem-11083	113	13	and	and	CCONJ
fbem-11083	113	14	factors	factor	NOUN
fbem-11083	113	15	impacting	impact	VERB
fbem-11083	113	16	profitability	profitability	NOUN
fbem-11083	113	17	would	would	AUX
fbem-11083	113	18	be	be	AUX
fbem-11083	113	19	prudent	prudent	ADJ
fbem-11083	113	20	.	.	PUNCT
fbem-11083	114	1	table	table	NOUN
fbem-11083	114	2	2.2.3.1	2.2.3.1	NUM
fbem-11083	114	3	:	:	PUNCT
fbem-11083	114	4	cash	cash	NOUN
fbem-11083	114	5	ratio	ratio	NOUN
fbem-11083	114	6	indicators	indicator	NOUN
fbem-11083	114	7	for	for	ADP
fbem-11083	114	8	guizhou	guizhou	PROPN
fbem-11083	114	9	maotai	maotai	PROPN
fbem-11083	114	10	year	year	NOUN
fbem-11083	114	11	2017	2017	NUM
fbem-11083	114	12	2018	2018	NUM
fbem-11083	114	13	2019	2019	NUM
fbem-11083	114	14	2020	2020	NUM
fbem-11083	114	15	2021	2021	NUM
fbem-11083	114	16	index	index	NOUN
fbem-11083	114	17	227.88	227.88	NUM
fbem-11083	114	18	%	%	NOUN
fbem-11083	114	19	264.09	264.09	NUM
fbem-11083	114	20	%	%	NOUN
fbem-11083	114	21	32.29	32.29	NUM
fbem-11083	114	22	%	%	NOUN
fbem-11083	114	23	79.02	79.02	NUM
fbem-11083	114	24	%	%	NOUN
fbem-11083	114	25	89.46	89.46	NUM
fbem-11083	114	26	%	%	NOUN
fbem-11083	114	27	table	table	NOUN
fbem-11083	114	28	2.2.3.2	2.2.3.2	NUM
fbem-11083	114	29	:	:	PUNCT
fbem-11083	114	30	cash	cash	NOUN
fbem-11083	114	31	ratio	ratio	NOUN
fbem-11083	114	32	indicators	indicator	NOUN
fbem-11083	114	33	for	for	ADP
fbem-11083	114	34	wuliangye	wuliangye	NOUN
fbem-11083	114	35	year	year	NOUN
fbem-11083	114	36	2017	2017	NUM
fbem-11083	114	37	2018	2018	NUM
fbem-11083	114	38	2019	2019	NUM
fbem-11083	114	39	2020	2020	NUM
fbem-11083	114	40	2021	2021	NUM
fbem-11083	114	41	index	index	NOUN
fbem-11083	114	42	254.21	254.21	NUM
fbem-11083	114	43	%	%	NOUN
fbem-11083	114	44	236.43	236.43	NUM
fbem-11083	114	45	%	%	NOUN
fbem-11083	114	46	210.55	210.55	NUM
fbem-11083	114	47	%	%	NOUN
fbem-11083	114	48	263.57	263.57	NUM
fbem-11083	114	49	%	%	NOUN
fbem-11083	114	50	244.93	244.93	NUM
fbem-11083	114	51	%	%	NOUN
fbem-11083	114	52	0	0	NUM
fbem-11083	114	53	0.5	0.5	NUM
fbem-11083	114	54	1	1	NUM
fbem-11083	114	55	1.5	1.5	NUM
fbem-11083	114	56	2	2	NUM
fbem-11083	114	57	2.5	2.5	NUM
fbem-11083	114	58	3	3	NUM
fbem-11083	114	59	3.5	3.5	NUM
fbem-11083	114	60	4	4	NUM
fbem-11083	114	61	4.5	4.5	NUM
fbem-11083	114	62	2017	2017	NUM
fbem-11083	114	63	2018	2018	NUM
fbem-11083	114	64	2019	2019	NUM
fbem-11083	114	65	2020	2020	NUM
fbem-11083	114	66	2021	2021	NUM
fbem-11083	114	67	current	current	ADJ
fbem-11083	114	68	ratio	ratio	NOUN
fbem-11083	114	69	current	current	ADJ
fbem-11083	114	70	ratio	ratio	NOUN
fbem-11083	114	71	indicators	indicator	NOUN
fbem-11083	114	72	for	for	ADP
fbem-11083	114	73	guizhou	guizhou	PROPN
fbem-11083	114	74	maotai（times	maotai（times	PROPN
fbem-11083	114	75	）	）	NOUN
fbem-11083	114	76	current	current	ADJ
fbem-11083	114	77	ratio	ratio	NOUN
fbem-11083	114	78	indicators	indicator	NOUN
fbem-11083	114	79	for	for	ADP
fbem-11083	114	80	wuliangye（times	wuliangye（time	NOUN
fbem-11083	114	81	）	）	NOUN
fbem-11083	114	82	388	388	NUM
fbem-11083	114	83	data	datum	NOUN
fbem-11083	114	84	source	source	NOUN
fbem-11083	114	85	:	:	PUNCT
fbem-11083	114	86	csmar	csmar	PROPN
fbem-11083	114	87	figure	figure	VERB
fbem-11083	114	88	2.2.3	2.2.3	NUM
fbem-11083	114	89	trend	trend	NOUN
fbem-11083	114	90	chart	chart	NOUN
fbem-11083	114	91	of	of	ADP
fbem-11083	114	92	cash	cash	NOUN
fbem-11083	114	93	ratios	ratio	NOUN
fbem-11083	114	94	2.3	2.3	NUM
fbem-11083	114	95	.	.	PUNCT
fbem-11083	115	1	operational	operational	ADJ
fbem-11083	115	2	efficiency	efficiency	NOUN
fbem-11083	115	3	analysis	analysis	NOUN
fbem-11083	115	4	this	this	DET
fbem-11083	115	5	section	section	NOUN
fbem-11083	115	6	conducts	conduct	VERB
fbem-11083	115	7	an	an	DET
fbem-11083	115	8	evaluation	evaluation	NOUN
fbem-11083	115	9	and	and	CCONJ
fbem-11083	115	10	in	in	ADP
fbem-11083	115	11	-	-	PUNCT
fbem-11083	115	12	depth	depth	NOUN
fbem-11083	115	13	analysis	analysis	NOUN
fbem-11083	115	14	of	of	ADP
fbem-11083	115	15	the	the	DET
fbem-11083	115	16	operational	operational	ADJ
fbem-11083	115	17	efficiency	efficiency	NOUN
fbem-11083	115	18	of	of	ADP
fbem-11083	115	19	guizhou	guizhou	PROPN
fbem-11083	115	20	maotai	maotai	PROPN
fbem-11083	115	21	and	and	CCONJ
fbem-11083	115	22	wuliangye	wuliangye	NOUN
fbem-11083	115	23	,	,	PUNCT
fbem-11083	115	24	focusing	focus	VERB
fbem-11083	115	25	on	on	ADP
fbem-11083	115	26	key	key	ADJ
fbem-11083	115	27	indicators	indicator	NOUN
fbem-11083	115	28	such	such	ADJ
fbem-11083	115	29	as	as	ADP
fbem-11083	115	30	the	the	DET
fbem-11083	115	31	"	"	PUNCT
fbem-11083	115	32	accounts	account	NOUN
fbem-11083	115	33	receivable	receivable	ADJ
fbem-11083	115	34	turnover	turnover	NOUN
fbem-11083	115	35	ratio	ratio	NOUN
fbem-11083	115	36	,	,	PUNCT
fbem-11083	115	37	"	"	PUNCT
fbem-11083	115	38	"	"	PUNCT
fbem-11083	115	39	inventory	inventory	NOUN
fbem-11083	115	40	turnover	turnover	NOUN
fbem-11083	115	41	ratio	ratio	NOUN
fbem-11083	115	42	,	,	PUNCT
fbem-11083	115	43	"	"	PUNCT
fbem-11083	115	44	and	and	CCONJ
fbem-11083	115	45	"	"	PUNCT
fbem-11083	115	46	total	total	ADJ
fbem-11083	115	47	asset	asset	NOUN
fbem-11083	115	48	turnover	turnover	NOUN
fbem-11083	115	49	ratio	ratio	NOUN
fbem-11083	115	50	.	.	PUNCT
fbem-11083	115	51	"	"	PUNCT
fbem-11083	116	1	2.3.1	2.3.1	NUM
fbem-11083	116	2	.	.	PUNCT
fbem-11083	116	3	accounts	account	NOUN
fbem-11083	116	4	receivable	receivable	ADJ
fbem-11083	116	5	turnover	turnover	NOUN
fbem-11083	116	6	ratio	ratio	NOUN
fbem-11083	116	7	analysis	analysis	NOUN
fbem-11083	116	8	the	the	DET
fbem-11083	116	9	accounts	account	NOUN
fbem-11083	116	10	receivable	receivable	ADJ
fbem-11083	116	11	turnover	turnover	NOUN
fbem-11083	116	12	ratio	ratio	NOUN
fbem-11083	116	13	is	be	AUX
fbem-11083	116	14	a	a	DET
fbem-11083	116	15	crucial	crucial	ADJ
fbem-11083	116	16	indicator	indicator	NOUN
fbem-11083	116	17	that	that	PRON
fbem-11083	116	18	measures	measure	VERB
fbem-11083	116	19	how	how	SCONJ
fbem-11083	116	20	efficiently	efficiently	ADV
fbem-11083	116	21	a	a	DET
fbem-11083	116	22	company	company	NOUN
fbem-11083	116	23	collects	collect	VERB
fbem-11083	116	24	its	its	PRON
fbem-11083	116	25	accounts	account	NOUN
fbem-11083	116	26	receivable	receivable	ADJ
fbem-11083	116	27	within	within	ADP
fbem-11083	116	28	a	a	DET
fbem-11083	116	29	specific	specific	ADJ
fbem-11083	116	30	period	period	NOUN
fbem-11083	116	31	.	.	PUNCT
fbem-11083	117	1	the	the	DET
fbem-11083	117	2	formula	formula	NOUN
fbem-11083	117	3	for	for	ADP
fbem-11083	117	4	calculating	calculate	VERB
fbem-11083	117	5	the	the	DET
fbem-11083	117	6	accounts	account	NOUN
fbem-11083	117	7	receivable	receivable	ADJ
fbem-11083	117	8	turnover	turnover	NOUN
fbem-11083	117	9	ratio	ratio	NOUN
fbem-11083	117	10	is	be	AUX
fbem-11083	117	11	as	as	SCONJ
fbem-11083	117	12	follows	follow	VERB
fbem-11083	117	13	:	:	PUNCT
fbem-11083	117	14	accounts	account	VERB
fbem-11083	117	15	receivable	receivable	ADJ
fbem-11083	117	16	turnover	turnover	NOUN
fbem-11083	117	17	ratio	ratio	NOUN
fbem-11083	117	18	=	=	PUNCT
fbem-11083	117	19	(	(	PUNCT
fbem-11083	117	20	net	net	ADJ
fbem-11083	117	21	sales	sale	NOUN
fbem-11083	117	22	*	*	PUNCT
fbem-11083	117	23	2	2	X
fbem-11083	117	24	)	)	PUNCT
fbem-11083	117	25	/	/	PUNCT
fbem-11083	117	26	(	(	PUNCT
fbem-11083	117	27	ending	end	VERB
fbem-11083	117	28	accounts	account	NOUN
fbem-11083	117	29	receivable	receivable	ADJ
fbem-11083	117	30	+	+	CCONJ
fbem-11083	117	31	beginning	begin	VERB
fbem-11083	117	32	accounts	account	NOUN
fbem-11083	117	33	receivable	receivable	ADJ
fbem-11083	117	34	)	)	PUNCT
fbem-11083	117	35	a	a	DET
fbem-11083	117	36	higher	high	ADJ
fbem-11083	117	37	accounts	account	NOUN
fbem-11083	117	38	receivable	receivable	ADJ
fbem-11083	117	39	turnover	turnover	NOUN
fbem-11083	117	40	ratio	ratio	NOUN
fbem-11083	117	41	generally	generally	ADV
fbem-11083	117	42	signifies	signify	VERB
fbem-11083	117	43	a	a	DET
fbem-11083	117	44	more	more	ADV
fbem-11083	117	45	effective	effective	ADJ
fbem-11083	117	46	and	and	CCONJ
fbem-11083	117	47	timely	timely	ADJ
fbem-11083	117	48	collection	collection	NOUN
fbem-11083	117	49	process	process	NOUN
fbem-11083	117	50	,	,	PUNCT
fbem-11083	117	51	leading	lead	VERB
fbem-11083	117	52	to	to	ADP
fbem-11083	117	53	a	a	DET
fbem-11083	117	54	shorter	short	ADJ
fbem-11083	117	55	average	average	ADJ
fbem-11083	117	56	collection	collection	NOUN
fbem-11083	117	57	period	period	NOUN
fbem-11083	117	58	and	and	CCONJ
fbem-11083	117	59	reduced	reduce	VERB
fbem-11083	117	60	risk	risk	NOUN
fbem-11083	117	61	of	of	ADP
fbem-11083	117	62	bad	bad	ADJ
fbem-11083	117	63	debt	debt	NOUN
fbem-11083	117	64	.	.	PUNCT
fbem-11083	118	1	such	such	ADJ
fbem-11083	118	2	efficiency	efficiency	NOUN
fbem-11083	118	3	reflects	reflect	VERB
fbem-11083	118	4	well	well	ADV
fbem-11083	118	5	on	on	ADP
fbem-11083	118	6	the	the	DET
fbem-11083	118	7	company	company	NOUN
fbem-11083	118	8	's	's	PART
fbem-11083	118	9	operational	operational	ADJ
fbem-11083	118	10	management	management	NOUN
fbem-11083	118	11	and	and	CCONJ
fbem-11083	118	12	its	its	PRON
fbem-11083	118	13	ability	ability	NOUN
fbem-11083	118	14	to	to	PART
fbem-11083	118	15	convert	convert	VERB
fbem-11083	118	16	credit	credit	NOUN
fbem-11083	118	17	sales	sale	NOUN
fbem-11083	118	18	into	into	ADP
fbem-11083	118	19	cash	cash	NOUN
fbem-11083	118	20	.	.	PUNCT
fbem-11083	119	1	however	however	ADV
fbem-11083	119	2	,	,	PUNCT
fbem-11083	119	3	it	it	PRON
fbem-11083	119	4	is	be	AUX
fbem-11083	119	5	essential	essential	ADJ
fbem-11083	119	6	to	to	PART
fbem-11083	119	7	consider	consider	VERB
fbem-11083	119	8	that	that	SCONJ
fbem-11083	119	9	an	an	DET
fbem-11083	119	10	extremely	extremely	ADV
fbem-11083	119	11	high	high	ADJ
fbem-11083	119	12	turnover	turnover	NOUN
fbem-11083	119	13	ratio	ratio	NOUN
fbem-11083	119	14	may	may	AUX
fbem-11083	119	15	suggest	suggest	VERB
fbem-11083	119	16	overly	overly	ADV
fbem-11083	119	17	stringent	stringent	ADJ
fbem-11083	119	18	credit	credit	NOUN
fbem-11083	119	19	policies	policy	NOUN
fbem-11083	119	20	,	,	PUNCT
fbem-11083	119	21	potentially	potentially	ADV
fbem-11083	119	22	hindering	hinder	VERB
fbem-11083	119	23	sales	sale	NOUN
fbem-11083	119	24	expansion	expansion	NOUN
fbem-11083	119	25	and	and	CCONJ
fbem-11083	119	26	overall	overall	ADJ
fbem-11083	119	27	profitability	profitability	NOUN
fbem-11083	119	28	if	if	SCONJ
fbem-11083	119	29	the	the	DET
fbem-11083	119	30	opportunity	opportunity	NOUN
fbem-11083	119	31	cost	cost	NOUN
fbem-11083	119	32	of	of	ADP
fbem-11083	119	33	missed	miss	VERB
fbem-11083	119	34	sales	sale	NOUN
fbem-11083	119	35	opportunities	opportunity	NOUN
fbem-11083	119	36	outweighs	outweigh	VERB
fbem-11083	119	37	the	the	DET
fbem-11083	119	38	benefits	benefit	NOUN
fbem-11083	119	39	of	of	ADP
fbem-11083	119	40	reducing	reduce	VERB
fbem-11083	119	41	credit	credit	NOUN
fbem-11083	119	42	risk	risk	NOUN
fbem-11083	119	43	.	.	PUNCT
fbem-11083	120	1	analyzing	analyze	VERB
fbem-11083	120	2	the	the	DET
fbem-11083	120	3	data	datum	NOUN
fbem-11083	120	4	presented	present	VERB
fbem-11083	120	5	in	in	ADP
fbem-11083	120	6	table	table	NOUN
fbem-11083	120	7	2.3.1	2.3.1	NUM
fbem-11083	120	8	and	and	CCONJ
fbem-11083	120	9	figure	figure	NOUN
fbem-11083	120	10	2.3.1	2.3.1	NUM
fbem-11083	120	11	,	,	PUNCT
fbem-11083	120	12	it	it	PRON
fbem-11083	120	13	becomes	become	VERB
fbem-11083	120	14	evident	evident	ADJ
fbem-11083	120	15	that	that	SCONJ
fbem-11083	120	16	wuliangye	wuliangye	NOUN
fbem-11083	120	17	company	company	NOUN
fbem-11083	120	18	operates	operate	VERB
fbem-11083	120	19	with	with	ADP
fbem-11083	120	20	accounts	account	NOUN
fbem-11083	120	21	receivable	receivable	ADJ
fbem-11083	120	22	due	due	ADP
fbem-11083	120	23	to	to	ADP
fbem-11083	120	24	its	its	PRON
fbem-11083	120	25	specific	specific	ADJ
fbem-11083	120	26	business	business	NOUN
fbem-11083	120	27	model	model	NOUN
fbem-11083	120	28	.	.	PUNCT
fbem-11083	121	1	from	from	ADP
fbem-11083	121	2	2017	2017	NUM
fbem-11083	121	3	to	to	ADP
fbem-11083	121	4	2021	2021	NUM
fbem-11083	121	5	,	,	PUNCT
fbem-11083	121	6	the	the	DET
fbem-11083	121	7	accounts	account	NOUN
fbem-11083	121	8	receivable	receivable	ADJ
fbem-11083	121	9	turnover	turnover	NOUN
fbem-11083	121	10	ratios	ratio	NOUN
fbem-11083	121	11	were	be	AUX
fbem-11083	121	12	reported	report	VERB
fbem-11083	121	13	as	as	ADP
fbem-11083	121	14	277.87	277.87	NUM
fbem-11083	121	15	,	,	PUNCT
fbem-11083	121	16	337.95	337.95	NUM
fbem-11083	121	17	,	,	PUNCT
fbem-11083	121	18	382.90	382.90	NUM
fbem-11083	121	19	,	,	PUNCT
fbem-11083	121	20	651.58	651.58	NUM
fbem-11083	121	21	,	,	PUNCT
fbem-11083	121	22	and	and	CCONJ
fbem-11083	121	23	1252.90	1252.90	NUM
fbem-11083	121	24	,	,	PUNCT
fbem-11083	121	25	respectively	respectively	ADV
fbem-11083	121	26	.	.	PUNCT
fbem-11083	122	1	throughout	throughout	ADP
fbem-11083	122	2	this	this	DET
fbem-11083	122	3	period	period	NOUN
fbem-11083	122	4	,	,	PUNCT
fbem-11083	122	5	the	the	DET
fbem-11083	122	6	company	company	NOUN
fbem-11083	122	7	experienced	experience	VERB
fbem-11083	122	8	increasing	increase	VERB
fbem-11083	122	9	net	net	ADJ
fbem-11083	122	10	sales	sale	NOUN
fbem-11083	122	11	while	while	SCONJ
fbem-11083	122	12	managing	manage	VERB
fbem-11083	122	13	to	to	PART
fbem-11083	122	14	reduce	reduce	VERB
fbem-11083	122	15	its	its	PRON
fbem-11083	122	16	accounts	account	NOUN
fbem-11083	122	17	receivable	receivable	ADJ
fbem-11083	122	18	balance	balance	NOUN
fbem-11083	122	19	,	,	PUNCT
fbem-11083	122	20	resulting	result	VERB
fbem-11083	122	21	in	in	ADP
fbem-11083	122	22	a	a	DET
fbem-11083	122	23	rising	rise	VERB
fbem-11083	122	24	trend	trend	NOUN
fbem-11083	122	25	in	in	ADP
fbem-11083	122	26	the	the	DET
fbem-11083	122	27	accounts	account	NOUN
fbem-11083	122	28	receivable	receivable	ADJ
fbem-11083	122	29	turnover	turnover	NOUN
fbem-11083	122	30	ratio	ratio	NOUN
fbem-11083	122	31	.	.	PUNCT
fbem-11083	123	1	this	this	DET
fbem-11083	123	2	improvement	improvement	NOUN
fbem-11083	123	3	can	can	AUX
fbem-11083	123	4	be	be	AUX
fbem-11083	123	5	attributed	attribute	VERB
fbem-11083	123	6	to	to	ADP
fbem-11083	123	7	wuliangye	wuliangye	PROPN
fbem-11083	123	8	's	's	PART
fbem-11083	123	9	enhanced	enhance	VERB
fbem-11083	123	10	financial	financial	ADJ
fbem-11083	123	11	management	management	NOUN
fbem-11083	123	12	practices	practice	NOUN
fbem-11083	123	13	,	,	PUNCT
fbem-11083	123	14	including	include	VERB
fbem-11083	123	15	measures	measure	NOUN
fbem-11083	123	16	to	to	PART
fbem-11083	123	17	streamline	streamline	VERB
fbem-11083	123	18	the	the	DET
fbem-11083	123	19	accounts	account	NOUN
fbem-11083	123	20	receivable	receivable	ADJ
fbem-11083	123	21	collection	collection	NOUN
fbem-11083	123	22	process	process	NOUN
fbem-11083	123	23	and	and	CCONJ
fbem-11083	123	24	mitigate	mitigate	VERB
fbem-11083	123	25	potential	potential	ADJ
fbem-11083	123	26	bad	bad	ADJ
fbem-11083	123	27	debts	debt	NOUN
fbem-11083	123	28	.	.	PUNCT
fbem-11083	124	1	by	by	ADP
fbem-11083	124	2	optimizing	optimize	VERB
fbem-11083	124	3	financial	financial	ADJ
fbem-11083	124	4	analysis	analysis	NOUN
fbem-11083	124	5	reports	report	NOUN
fbem-11083	124	6	and	and	CCONJ
fbem-11083	124	7	decision	decision	NOUN
fbem-11083	124	8	-	-	PUNCT
fbem-11083	124	9	making	make	VERB
fbem-11083	124	10	mechanisms	mechanism	NOUN
fbem-11083	124	11	,	,	PUNCT
fbem-11083	124	12	wuliangye	wuliangye	PROPN
fbem-11083	124	13	successfully	successfully	ADV
fbem-11083	124	14	strengthened	strengthen	VERB
fbem-11083	124	15	the	the	DET
fbem-11083	124	16	collection	collection	NOUN
fbem-11083	124	17	of	of	ADP
fbem-11083	124	18	accounts	account	NOUN
fbem-11083	124	19	receivable	receivable	ADJ
fbem-11083	124	20	,	,	PUNCT
fbem-11083	124	21	leading	lead	VERB
fbem-11083	124	22	to	to	ADP
fbem-11083	124	23	an	an	DET
fbem-11083	124	24	overall	overall	ADJ
fbem-11083	124	25	improvement	improvement	NOUN
fbem-11083	124	26	in	in	ADP
fbem-11083	124	27	the	the	DET
fbem-11083	124	28	efficiency	efficiency	NOUN
fbem-11083	124	29	of	of	ADP
fbem-11083	124	30	its	its	PRON
fbem-11083	124	31	working	work	VERB
fbem-11083	124	32	capital	capital	NOUN
fbem-11083	124	33	management	management	NOUN
fbem-11083	124	34	.	.	PUNCT
fbem-11083	125	1	in	in	ADP
fbem-11083	125	2	contrast	contrast	NOUN
fbem-11083	125	3	,	,	PUNCT
fbem-11083	125	4	since	since	SCONJ
fbem-11083	125	5	2016	2016	NUM
fbem-11083	125	6	,	,	PUNCT
fbem-11083	125	7	guizhou	guizhou	NOUN
fbem-11083	125	8	maotai	maotai	PROPN
fbem-11083	125	9	's	's	PART
fbem-11083	125	10	robust	robust	ADJ
fbem-11083	125	11	market	market	NOUN
fbem-11083	125	12	demand	demand	NOUN
fbem-11083	125	13	for	for	ADP
fbem-11083	125	14	its	its	PRON
fbem-11083	125	15	products	product	NOUN
fbem-11083	125	16	has	have	AUX
fbem-11083	125	17	allowed	allow	VERB
fbem-11083	125	18	the	the	DET
fbem-11083	125	19	company	company	NOUN
fbem-11083	125	20	to	to	PART
fbem-11083	125	21	eliminate	eliminate	VERB
fbem-11083	125	22	accounts	account	NOUN
fbem-11083	125	23	receivable	receivable	ADJ
fbem-11083	125	24	entirely	entirely	ADV
fbem-11083	125	25	.	.	PUNCT
fbem-11083	126	1	instead	instead	ADV
fbem-11083	126	2	,	,	PUNCT
fbem-11083	126	3	the	the	DET
fbem-11083	126	4	company	company	NOUN
fbem-11083	126	5	has	have	AUX
fbem-11083	126	6	maintained	maintain	VERB
fbem-11083	126	7	a	a	DET
fbem-11083	126	8	substantial	substantial	ADJ
fbem-11083	126	9	amount	amount	NOUN
fbem-11083	126	10	of	of	ADP
fbem-11083	126	11	prepayments	prepayment	NOUN
fbem-11083	126	12	from	from	ADP
fbem-11083	126	13	its	its	PRON
fbem-11083	126	14	distributors	distributor	NOUN
fbem-11083	126	15	.	.	PUNCT
fbem-11083	127	1	distributors	distributor	NOUN
fbem-11083	127	2	are	be	AUX
fbem-11083	127	3	required	require	VERB
fbem-11083	127	4	to	to	PART
fbem-11083	127	5	make	make	VERB
fbem-11083	127	6	advance	advance	NOUN
fbem-11083	127	7	payments	payment	NOUN
fbem-11083	127	8	before	before	ADP
fbem-11083	127	9	taking	take	VERB
fbem-11083	127	10	delivery	delivery	NOUN
fbem-11083	127	11	of	of	ADP
fbem-11083	127	12	maotai	maotai	NOUN
fbem-11083	127	13	liquor	liquor	NOUN
fbem-11083	127	14	.	.	PUNCT
fbem-11083	128	1	consequently	consequently	ADV
fbem-11083	128	2	,	,	PUNCT
fbem-11083	128	3	guizhou	guizhou	PROPN
fbem-11083	128	4	maotai	maotai	PROPN
fbem-11083	128	5	's	's	PART
fbem-11083	128	6	financial	financial	ADJ
fbem-11083	128	7	statements	statement	NOUN
fbem-11083	128	8	show	show	VERB
fbem-11083	128	9	no	no	DET
fbem-11083	128	10	accounts	account	NOUN
fbem-11083	128	11	receivable	receivable	ADJ
fbem-11083	128	12	or	or	CCONJ
fbem-11083	128	13	bad	bad	ADJ
fbem-11083	128	14	debts	debt	NOUN
fbem-11083	128	15	.	.	PUNCT
fbem-11083	129	1	this	this	PRON
fbem-11083	129	2	reflects	reflect	VERB
fbem-11083	129	3	the	the	DET
fbem-11083	129	4	company	company	NOUN
fbem-11083	129	5	's	's	PART
fbem-11083	129	6	exceptional	exceptional	ADJ
fbem-11083	129	7	brand	brand	NOUN
fbem-11083	129	8	value	value	NOUN
fbem-11083	129	9	,	,	PUNCT
fbem-11083	129	10	strong	strong	ADJ
fbem-11083	129	11	market	market	NOUN
fbem-11083	129	12	position	position	NOUN
fbem-11083	129	13	,	,	PUNCT
fbem-11083	129	14	and	and	CCONJ
fbem-11083	129	15	impeccable	impeccable	ADJ
fbem-11083	129	16	operational	operational	ADJ
fbem-11083	129	17	performance	performance	NOUN
fbem-11083	129	18	.	.	PUNCT
fbem-11083	130	1	guizhou	guizhou	PROPN
fbem-11083	130	2	maotai	maotai	PROPN
fbem-11083	130	3	's	's	PART
fbem-11083	130	4	ability	ability	NOUN
fbem-11083	130	5	to	to	PART
fbem-11083	130	6	secure	secure	VERB
fbem-11083	130	7	prepayments	prepayment	NOUN
fbem-11083	130	8	showcases	showcase	VERB
fbem-11083	130	9	its	its	PRON
fbem-11083	130	10	efficient	efficient	ADJ
fbem-11083	130	11	cash	cash	NOUN
fbem-11083	130	12	flow	flow	NOUN
fbem-11083	130	13	management	management	NOUN
fbem-11083	130	14	and	and	CCONJ
fbem-11083	130	15	underscores	underscore	VERB
fbem-11083	130	16	its	its	PRON
fbem-11083	130	17	financial	financial	ADJ
fbem-11083	130	18	stability	stability	NOUN
fbem-11083	130	19	and	and	CCONJ
fbem-11083	130	20	strength	strength	NOUN
fbem-11083	130	21	.	.	PUNCT
fbem-11083	131	1	table	table	NOUN
fbem-11083	131	2	2.3.1	2.3.1	NUM
fbem-11083	131	3	wuliangye	wuliangye	NOUN
fbem-11083	131	4	accounts	account	NOUN
fbem-11083	131	5	receivable	receivable	ADJ
fbem-11083	131	6	turnover	turnover	NOUN
fbem-11083	131	7	ratio	ratio	NOUN
fbem-11083	131	8	indicators	indicator	NOUN
fbem-11083	131	9	year	year	NOUN
fbem-11083	131	10	2017	2017	NUM
fbem-11083	131	11	2018	2018	NUM
fbem-11083	131	12	2019	2019	NUM
fbem-11083	131	13	2020	2020	NUM
fbem-11083	131	14	2021	2021	NUM
fbem-11083	131	15	index	index	NOUN
fbem-11083	131	16	277.87	277.87	NUM
fbem-11083	131	17	337.95	337.95	NUM
fbem-11083	131	18	382.90	382.90	NUM
fbem-11083	131	19	651.58	651.58	NUM
fbem-11083	131	20	1252.90	1252.90	NUM
fbem-11083	131	21	0.00	0.00	NUM
fbem-11083	131	22	%	%	NOUN
fbem-11083	131	23	50.00	50.00	NUM
fbem-11083	131	24	%	%	NOUN
fbem-11083	131	25	100.00	100.00	NUM
fbem-11083	131	26	%	%	NOUN
fbem-11083	131	27	150.00	150.00	NUM
fbem-11083	131	28	%	%	NOUN
fbem-11083	131	29	200.00	200.00	NUM
fbem-11083	131	30	%	%	NOUN
fbem-11083	131	31	250.00	250.00	NUM
fbem-11083	131	32	%	%	NOUN
fbem-11083	131	33	300.00	300.00	NUM
fbem-11083	131	34	%	%	NOUN
fbem-11083	131	35	2017	2017	NUM
fbem-11083	131	36	2018	2018	NUM
fbem-11083	131	37	2019	2019	NUM
fbem-11083	131	38	2020	2020	NUM
fbem-11083	131	39	2021	2021	NUM
fbem-11083	131	40	cash	cash	NOUN
fbem-11083	131	41	ratio	ratio	NOUN
fbem-11083	131	42	cash	cash	NOUN
fbem-11083	131	43	ratio	ratio	NOUN
fbem-11083	131	44	for	for	ADP
fbem-11083	131	45	guizhou	guizhou	PROPN
fbem-11083	131	46	maotai（%	maotai（%	PROPN
fbem-11083	131	47	）	）	PROPN
fbem-11083	131	48	cash	cash	NOUN
fbem-11083	131	49	ratio	ratio	NOUN
fbem-11083	131	50	for	for	ADP
fbem-11083	131	51	wuliangye（%	wuliangye（%	NOUN
fbem-11083	131	52	）	）	NOUN
fbem-11083	131	53	389	389	NUM
fbem-11083	131	54	data	datum	NOUN
fbem-11083	131	55	source	source	NOUN
fbem-11083	131	56	:	:	PUNCT
fbem-11083	131	57	csmar	csmar	PROPN
fbem-11083	131	58	figure	figure	VERB
fbem-11083	131	59	2.3.2	2.3.2	NUM
fbem-11083	131	60	trend	trend	NOUN
fbem-11083	131	61	of	of	ADP
fbem-11083	131	62	accounts	account	NOUN
fbem-11083	131	63	receivable	receivable	ADJ
fbem-11083	131	64	turnover	turnover	NOUN
fbem-11083	131	65	2.3.2	2.3.2	NUM
fbem-11083	131	66	.	.	PUNCT
fbem-11083	132	1	inventory	inventory	NOUN
fbem-11083	132	2	turnover	turnover	NOUN
fbem-11083	132	3	ratio	ratio	NOUN
fbem-11083	132	4	analysis	analysis	NOUN
fbem-11083	132	5	the	the	DET
fbem-11083	132	6	inventory	inventory	NOUN
fbem-11083	132	7	turnover	turnover	NOUN
fbem-11083	132	8	ratio	ratio	NOUN
fbem-11083	132	9	is	be	AUX
fbem-11083	132	10	an	an	DET
fbem-11083	132	11	essential	essential	ADJ
fbem-11083	132	12	financial	financial	ADJ
fbem-11083	132	13	metric	metric	NOUN
fbem-11083	132	14	used	use	VERB
fbem-11083	132	15	to	to	PART
fbem-11083	132	16	assess	assess	VERB
fbem-11083	132	17	a	a	DET
fbem-11083	132	18	company	company	NOUN
fbem-11083	132	19	's	's	PART
fbem-11083	132	20	efficiency	efficiency	NOUN
fbem-11083	132	21	in	in	ADP
fbem-11083	132	22	managing	manage	VERB
fbem-11083	132	23	its	its	PRON
fbem-11083	132	24	inventory	inventory	NOUN
fbem-11083	132	25	.	.	PUNCT
fbem-11083	133	1	it	it	PRON
fbem-11083	133	2	is	be	AUX
fbem-11083	133	3	calculated	calculate	VERB
fbem-11083	133	4	by	by	ADP
fbem-11083	133	5	dividing	divide	VERB
fbem-11083	133	6	the	the	DET
fbem-11083	133	7	cost	cost	NOUN
fbem-11083	133	8	of	of	ADP
fbem-11083	133	9	goods	good	NOUN
fbem-11083	133	10	sold	sell	VERB
fbem-11083	133	11	by	by	ADP
fbem-11083	133	12	the	the	DET
fbem-11083	133	13	average	average	ADJ
fbem-11083	133	14	inventory	inventory	NOUN
fbem-11083	133	15	during	during	ADP
fbem-11083	133	16	a	a	DET
fbem-11083	133	17	specific	specific	ADJ
fbem-11083	133	18	period	period	NOUN
fbem-11083	133	19	.	.	PUNCT
fbem-11083	134	1	a	a	DET
fbem-11083	134	2	higher	high	ADJ
fbem-11083	134	3	inventory	inventory	NOUN
fbem-11083	134	4	turnover	turnover	NOUN
fbem-11083	134	5	ratio	ratio	NOUN
fbem-11083	134	6	indicates	indicate	VERB
fbem-11083	134	7	that	that	SCONJ
fbem-11083	134	8	the	the	DET
fbem-11083	134	9	company	company	NOUN
fbem-11083	134	10	is	be	AUX
fbem-11083	134	11	selling	sell	VERB
fbem-11083	134	12	its	its	PRON
fbem-11083	134	13	inventory	inventory	NOUN
fbem-11083	134	14	quickly	quickly	ADV
fbem-11083	134	15	,	,	PUNCT
fbem-11083	134	16	which	which	PRON
fbem-11083	134	17	is	be	AUX
fbem-11083	134	18	generally	generally	ADV
fbem-11083	134	19	considered	consider	VERB
fbem-11083	134	20	a	a	DET
fbem-11083	134	21	positive	positive	ADJ
fbem-11083	134	22	sign	sign	NOUN
fbem-11083	134	23	as	as	SCONJ
fbem-11083	134	24	it	it	PRON
fbem-11083	134	25	implies	imply	VERB
fbem-11083	134	26	better	well	ADJ
fbem-11083	134	27	liquidity	liquidity	NOUN
fbem-11083	134	28	and	and	CCONJ
fbem-11083	134	29	more	more	ADV
fbem-11083	134	30	effective	effective	ADJ
fbem-11083	134	31	management	management	NOUN
fbem-11083	134	32	of	of	ADP
fbem-11083	134	33	working	work	VERB
fbem-11083	134	34	capital	capital	NOUN
fbem-11083	134	35	.	.	PUNCT
fbem-11083	135	1	however	however	ADV
fbem-11083	135	2	,	,	PUNCT
fbem-11083	135	3	an	an	DET
fbem-11083	135	4	excessively	excessively	ADV
fbem-11083	135	5	high	high	ADJ
fbem-11083	135	6	turnover	turnover	NOUN
fbem-11083	135	7	ratio	ratio	NOUN
fbem-11083	135	8	may	may	AUX
fbem-11083	135	9	suggest	suggest	VERB
fbem-11083	135	10	aggressive	aggressive	ADJ
fbem-11083	135	11	sales	sale	NOUN
fbem-11083	135	12	strategies	strategy	NOUN
fbem-11083	135	13	or	or	CCONJ
fbem-11083	135	14	inventory	inventory	NOUN
fbem-11083	135	15	shortages	shortage	NOUN
fbem-11083	135	16	,	,	PUNCT
fbem-11083	135	17	which	which	PRON
fbem-11083	135	18	could	could	AUX
fbem-11083	135	19	have	have	VERB
fbem-11083	135	20	negative	negative	ADJ
fbem-11083	135	21	implications	implication	NOUN
fbem-11083	135	22	for	for	ADP
fbem-11083	135	23	the	the	DET
fbem-11083	135	24	company	company	NOUN
fbem-11083	135	25	's	's	PART
fbem-11083	135	26	ability	ability	NOUN
fbem-11083	135	27	to	to	PART
fbem-11083	135	28	meet	meet	VERB
fbem-11083	135	29	customer	customer	NOUN
fbem-11083	135	30	demand	demand	NOUN
fbem-11083	135	31	.	.	PUNCT
fbem-11083	136	1	from	from	ADP
fbem-11083	136	2	2017	2017	NUM
fbem-11083	136	3	to	to	ADP
fbem-11083	136	4	2021	2021	NUM
fbem-11083	136	5	,	,	PUNCT
fbem-11083	136	6	guizhou	guizhou	NOUN
fbem-11083	136	7	maotai	maotai	PROPN
fbem-11083	136	8	's	's	PART
fbem-11083	136	9	inventory	inventory	NOUN
fbem-11083	136	10	turnover	turnover	NOUN
fbem-11083	136	11	ratio	ratio	NOUN
fbem-11083	136	12	exhibited	exhibit	VERB
fbem-11083	136	13	a	a	DET
fbem-11083	136	14	relatively	relatively	ADV
fbem-11083	136	15	stable	stable	ADJ
fbem-11083	136	16	trend	trend	NOUN
fbem-11083	136	17	,	,	PUNCT
fbem-11083	136	18	with	with	ADP
fbem-11083	136	19	values	value	NOUN
fbem-11083	136	20	of	of	ADP
fbem-11083	136	21	0.28	0.28	NUM
fbem-11083	136	22	,	,	PUNCT
fbem-11083	136	23	0.29	0.29	NUM
fbem-11083	136	24	,	,	PUNCT
fbem-11083	136	25	0.3	0.3	NUM
fbem-11083	136	26	,	,	PUNCT
fbem-11083	136	27	0.3	0.3	NUM
fbem-11083	136	28	,	,	PUNCT
fbem-11083	136	29	and	and	CCONJ
fbem-11083	136	30	0.29	0.29	NUM
fbem-11083	136	31	,	,	PUNCT
fbem-11083	136	32	respectively	respectively	ADV
fbem-11083	136	33	.	.	PUNCT
fbem-11083	137	1	simultaneously	simultaneously	ADV
fbem-11083	137	2	,	,	PUNCT
fbem-11083	137	3	the	the	DET
fbem-11083	137	4	company	company	NOUN
fbem-11083	137	5	's	's	PART
fbem-11083	137	6	cost	cost	NOUN
fbem-11083	137	7	of	of	ADP
fbem-11083	137	8	goods	good	NOUN
fbem-11083	137	9	sold	sell	VERB
fbem-11083	137	10	experienced	experience	VERB
fbem-11083	137	11	substantial	substantial	ADJ
fbem-11083	137	12	growth	growth	NOUN
fbem-11083	137	13	over	over	ADP
fbem-11083	137	14	the	the	DET
fbem-11083	137	15	same	same	ADJ
fbem-11083	137	16	period	period	NOUN
fbem-11083	137	17	,	,	PUNCT
fbem-11083	137	18	with	with	ADP
fbem-11083	137	19	year	year	NOUN
fbem-11083	137	20	-	-	PUNCT
fbem-11083	137	21	on	on	ADP
fbem-11083	137	22	-	-	PUNCT
fbem-11083	137	23	year	year	NOUN
fbem-11083	137	24	growth	growth	NOUN
fbem-11083	137	25	rates	rate	NOUN
fbem-11083	137	26	ranging	range	VERB
fbem-11083	137	27	from	from	ADP
fbem-11083	137	28	9.74	9.74	NUM
fbem-11083	137	29	%	%	NOUN
fbem-11083	137	30	to	to	ADP
fbem-11083	137	31	74.20	74.20	NUM
fbem-11083	137	32	%	%	NOUN
fbem-11083	137	33	.	.	PUNCT
fbem-11083	138	1	at	at	ADP
fbem-11083	138	2	the	the	DET
fbem-11083	138	3	same	same	ADJ
fbem-11083	138	4	time	time	NOUN
fbem-11083	138	5	,	,	PUNCT
fbem-11083	138	6	the	the	DET
fbem-11083	138	7	average	average	ADJ
fbem-11083	138	8	inventory	inventory	NOUN
fbem-11083	138	9	increased	increase	VERB
fbem-11083	138	10	at	at	ADP
fbem-11083	138	11	varying	vary	VERB
fbem-11083	138	12	rates	rate	NOUN
fbem-11083	138	13	,	,	PUNCT
fbem-11083	138	14	with	with	ADP
fbem-11083	138	15	year	year	NOUN
fbem-11083	138	16	-	-	PUNCT
fbem-11083	138	17	on	on	ADP
fbem-11083	138	18	-	-	PUNCT
fbem-11083	138	19	year	year	NOUN
fbem-11083	138	20	growth	growth	NOUN
fbem-11083	138	21	rates	rate	NOUN
fbem-11083	138	22	ranging	range	VERB
fbem-11083	138	23	from	from	ADP
fbem-11083	138	24	6.76	6.76	NUM
fbem-11083	138	25	%	%	NOUN
fbem-11083	138	26	to	to	ADP
fbem-11083	138	27	14.97	14.97	NUM
fbem-11083	138	28	%	%	NOUN
fbem-11083	138	29	.	.	PUNCT
fbem-11083	139	1	the	the	DET
fbem-11083	139	2	analysis	analysis	NOUN
fbem-11083	139	3	of	of	ADP
fbem-11083	139	4	guizhou	guizhou	PROPN
fbem-11083	139	5	maotai	maotai	PROPN
fbem-11083	139	6	's	's	PART
fbem-11083	139	7	inventory	inventory	NOUN
fbem-11083	139	8	turnover	turnover	NOUN
fbem-11083	139	9	ratio	ratio	NOUN
fbem-11083	139	10	suggests	suggest	VERB
fbem-11083	139	11	that	that	SCONJ
fbem-11083	139	12	the	the	DET
fbem-11083	139	13	company	company	NOUN
fbem-11083	139	14	's	's	PART
fbem-11083	139	15	brewing	brewing	NOUN
fbem-11083	139	16	process	process	NOUN
fbem-11083	139	17	for	for	ADP
fbem-11083	139	18	maotai	maotai	NOUN
fbem-11083	139	19	liquor	liquor	NOUN
fbem-11083	139	20	is	be	AUX
fbem-11083	139	21	complex	complex	ADJ
fbem-11083	139	22	and	and	CCONJ
fbem-11083	139	23	requires	require	VERB
fbem-11083	139	24	a	a	DET
fbem-11083	139	25	longer	long	ADJ
fbem-11083	139	26	storage	storage	NOUN
fbem-11083	139	27	period	period	NOUN
fbem-11083	139	28	,	,	PUNCT
fbem-11083	139	29	leading	lead	VERB
fbem-11083	139	30	to	to	ADP
fbem-11083	139	31	a	a	DET
fbem-11083	139	32	relatively	relatively	ADV
fbem-11083	139	33	lower	low	ADJ
fbem-11083	139	34	inventory	inventory	NOUN
fbem-11083	139	35	turnover	turnover	NOUN
fbem-11083	139	36	ratio	ratio	NOUN
fbem-11083	139	37	compared	compare	VERB
fbem-11083	139	38	to	to	ADP
fbem-11083	139	39	other	other	ADJ
fbem-11083	139	40	alcoholic	alcoholic	ADJ
fbem-11083	139	41	beverages	beverage	NOUN
fbem-11083	139	42	.	.	PUNCT
fbem-11083	140	1	despite	despite	SCONJ
fbem-11083	140	2	this	this	PRON
fbem-11083	140	3	,	,	PUNCT
fbem-11083	140	4	the	the	DET
fbem-11083	140	5	company	company	NOUN
fbem-11083	140	6	has	have	AUX
fbem-11083	140	7	demonstrated	demonstrate	VERB
fbem-11083	140	8	effective	effective	ADJ
fbem-11083	140	9	inventory	inventory	NOUN
fbem-11083	140	10	management	management	NOUN
fbem-11083	140	11	practices	practice	NOUN
fbem-11083	140	12	,	,	PUNCT
fbem-11083	140	13	resulting	result	VERB
fbem-11083	140	14	in	in	ADP
fbem-11083	140	15	a	a	DET
fbem-11083	140	16	stable	stable	ADJ
fbem-11083	140	17	and	and	CCONJ
fbem-11083	140	18	efficient	efficient	ADJ
fbem-11083	140	19	turnover	turnover	NOUN
fbem-11083	140	20	of	of	ADP
fbem-11083	140	21	inventory	inventory	NOUN
fbem-11083	140	22	.	.	PUNCT
fbem-11083	141	1	on	on	ADP
fbem-11083	141	2	the	the	DET
fbem-11083	141	3	other	other	ADJ
fbem-11083	141	4	hand	hand	NOUN
fbem-11083	141	5	,	,	PUNCT
fbem-11083	141	6	wuliangye	wuliangye	PROPN
fbem-11083	141	7	's	's	PART
fbem-11083	141	8	inventory	inventory	NOUN
fbem-11083	141	9	turnover	turnover	NOUN
fbem-11083	141	10	ratio	ratio	NOUN
fbem-11083	141	11	exhibited	exhibit	VERB
fbem-11083	141	12	a	a	DET
fbem-11083	141	13	slightly	slightly	ADV
fbem-11083	141	14	increasing	increase	VERB
fbem-11083	141	15	trend	trend	NOUN
fbem-11083	141	16	from	from	ADP
fbem-11083	141	17	2017	2017	NUM
fbem-11083	141	18	to	to	ADP
fbem-11083	141	19	2021	2021	NUM
fbem-11083	141	20	,	,	PUNCT
fbem-11083	141	21	with	with	ADP
fbem-11083	141	22	values	value	NOUN
fbem-11083	141	23	of	of	ADP
fbem-11083	141	24	0.85	0.85	NUM
fbem-11083	141	25	,	,	PUNCT
fbem-11083	141	26	0.94	0.94	NUM
fbem-11083	141	27	,	,	PUNCT
fbem-11083	141	28	1.01	1.01	NUM
fbem-11083	141	29	,	,	PUNCT
fbem-11083	141	30	1.10	1.10	NUM
fbem-11083	141	31	,	,	PUNCT
fbem-11083	141	32	and	and	CCONJ
fbem-11083	141	33	1.2	1.2	NUM
fbem-11083	141	34	,	,	PUNCT
fbem-11083	141	35	respectively	respectively	ADV
fbem-11083	141	36	.	.	PUNCT
fbem-11083	142	1	the	the	DET
fbem-11083	142	2	company	company	NOUN
fbem-11083	142	3	's	's	PART
fbem-11083	142	4	cost	cost	NOUN
fbem-11083	142	5	of	of	ADP
fbem-11083	142	6	goods	good	NOUN
fbem-11083	142	7	sold	sell	VERB
fbem-11083	142	8	also	also	ADV
fbem-11083	142	9	experienced	experience	VERB
fbem-11083	142	10	substantial	substantial	ADJ
fbem-11083	142	11	growth	growth	NOUN
fbem-11083	142	12	,	,	PUNCT
fbem-11083	142	13	with	with	ADP
fbem-11083	142	14	year	year	NOUN
fbem-11083	142	15	-	-	PUNCT
fbem-11083	142	16	on	on	ADP
fbem-11083	142	17	-	-	PUNCT
fbem-11083	142	18	year	year	NOUN
fbem-11083	142	19	growth	growth	NOUN
fbem-11083	142	20	rates	rate	NOUN
fbem-11083	142	21	ranging	range	VERB
fbem-11083	142	22	from	from	ADP
fbem-11083	142	23	12.02	12.02	NUM
fbem-11083	142	24	%	%	NOUN
fbem-11083	142	25	to	to	ADP
fbem-11083	142	26	20.53	20.53	NUM
fbem-11083	142	27	%	%	NOUN
fbem-11083	142	28	.	.	PUNCT
fbem-11083	143	1	similarly	similarly	ADV
fbem-11083	143	2	,	,	PUNCT
fbem-11083	143	3	the	the	DET
fbem-11083	143	4	average	average	ADJ
fbem-11083	143	5	inventory	inventory	NOUN
fbem-11083	143	6	increased	increase	VERB
fbem-11083	143	7	each	each	DET
fbem-11083	143	8	year	year	NOUN
fbem-11083	143	9	,	,	PUNCT
fbem-11083	143	10	with	with	ADP
fbem-11083	143	11	year	year	NOUN
fbem-11083	143	12	-	-	PUNCT
fbem-11083	143	13	on	on	ADP
fbem-11083	143	14	-	-	PUNCT
fbem-11083	143	15	year	year	NOUN
fbem-11083	143	16	growth	growth	NOUN
fbem-11083	143	17	rates	rate	NOUN
fbem-11083	143	18	ranging	range	VERB
fbem-11083	143	19	from	from	ADP
fbem-11083	143	20	6.76	6.76	NUM
fbem-11083	143	21	%	%	NOUN
fbem-11083	143	22	to	to	ADP
fbem-11083	143	23	14.97	14.97	NUM
fbem-11083	143	24	%	%	NOUN
fbem-11083	143	25	.	.	PUNCT
fbem-11083	144	1	the	the	DET
fbem-11083	144	2	rise	rise	NOUN
fbem-11083	144	3	in	in	ADP
fbem-11083	144	4	wuliangye	wuliangye	NOUN
fbem-11083	144	5	's	's	PART
fbem-11083	144	6	inventory	inventory	NOUN
fbem-11083	144	7	turnover	turnover	NOUN
fbem-11083	144	8	ratio	ratio	NOUN
fbem-11083	144	9	indicates	indicate	VERB
fbem-11083	144	10	improved	improved	ADJ
fbem-11083	144	11	inventory	inventory	NOUN
fbem-11083	144	12	management	management	NOUN
fbem-11083	144	13	efficiency	efficiency	NOUN
fbem-11083	144	14	and	and	CCONJ
fbem-11083	144	15	a	a	DET
fbem-11083	144	16	faster	fast	ADJ
fbem-11083	144	17	inventory	inventory	NOUN
fbem-11083	144	18	turnover	turnover	NOUN
fbem-11083	144	19	rate	rate	NOUN
fbem-11083	144	20	,	,	PUNCT
fbem-11083	144	21	which	which	PRON
fbem-11083	144	22	positively	positively	ADV
fbem-11083	144	23	impacts	impact	VERB
fbem-11083	144	24	the	the	DET
fbem-11083	144	25	company	company	NOUN
fbem-11083	144	26	's	's	PART
fbem-11083	144	27	overall	overall	ADJ
fbem-11083	144	28	operational	operational	ADJ
fbem-11083	144	29	performance	performance	NOUN
fbem-11083	144	30	.	.	PUNCT
fbem-11083	145	1	in	in	ADP
fbem-11083	145	2	summary	summary	NOUN
fbem-11083	145	3	,	,	PUNCT
fbem-11083	145	4	both	both	DET
fbem-11083	145	5	guizhou	guizhou	PROPN
fbem-11083	145	6	maotai	maotai	PROPN
fbem-11083	145	7	and	and	CCONJ
fbem-11083	145	8	wuliangye	wuliangye	NOUN
fbem-11083	145	9	have	have	AUX
fbem-11083	145	10	demonstrated	demonstrate	VERB
fbem-11083	145	11	effective	effective	ADJ
fbem-11083	145	12	inventory	inventory	NOUN
fbem-11083	145	13	management	management	NOUN
fbem-11083	145	14	practices	practice	NOUN
fbem-11083	145	15	over	over	ADP
fbem-11083	145	16	the	the	DET
fbem-11083	145	17	years	year	NOUN
fbem-11083	145	18	,	,	PUNCT
fbem-11083	145	19	resulting	result	VERB
fbem-11083	145	20	in	in	ADP
fbem-11083	145	21	relatively	relatively	ADV
fbem-11083	145	22	stable	stable	ADJ
fbem-11083	145	23	inventory	inventory	NOUN
fbem-11083	145	24	turnover	turnover	NOUN
fbem-11083	145	25	ratios	ratio	NOUN
fbem-11083	145	26	.	.	PUNCT
fbem-11083	146	1	the	the	DET
fbem-11083	146	2	slightly	slightly	ADV
fbem-11083	146	3	lower	low	ADJ
fbem-11083	146	4	inventory	inventory	NOUN
fbem-11083	146	5	turnover	turnover	NOUN
fbem-11083	146	6	ratio	ratio	NOUN
fbem-11083	146	7	for	for	ADP
fbem-11083	146	8	guizhou	guizhou	NOUN
fbem-11083	146	9	maotai	maotai	PROPN
fbem-11083	146	10	can	can	AUX
fbem-11083	146	11	be	be	AUX
fbem-11083	146	12	attributed	attribute	VERB
fbem-11083	146	13	to	to	ADP
fbem-11083	146	14	the	the	DET
fbem-11083	146	15	unique	unique	ADJ
fbem-11083	146	16	characteristics	characteristic	NOUN
fbem-11083	146	17	of	of	ADP
fbem-11083	146	18	its	its	PRON
fbem-11083	146	19	maotai	maotai	NOUN
fbem-11083	146	20	liquor	liquor	NOUN
fbem-11083	146	21	,	,	PUNCT
fbem-11083	146	22	requiring	require	VERB
fbem-11083	146	23	longer	long	ADJ
fbem-11083	146	24	storage	storage	NOUN
fbem-11083	146	25	periods	period	NOUN
fbem-11083	146	26	for	for	ADP
fbem-11083	146	27	optimal	optimal	ADJ
fbem-11083	146	28	flavor	flavor	NOUN
fbem-11083	146	29	development	development	NOUN
fbem-11083	146	30	.	.	PUNCT
fbem-11083	147	1	nonetheless	nonetheless	ADV
fbem-11083	147	2	,	,	PUNCT
fbem-11083	147	3	both	both	DET
fbem-11083	147	4	companies	company	NOUN
fbem-11083	147	5	have	have	AUX
fbem-11083	147	6	effectively	effectively	ADV
fbem-11083	147	7	maintained	maintain	VERB
fbem-11083	147	8	their	their	PRON
fbem-11083	147	9	inventory	inventory	NOUN
fbem-11083	147	10	turnover	turnover	NOUN
fbem-11083	147	11	,	,	PUNCT
fbem-11083	147	12	which	which	PRON
fbem-11083	147	13	is	be	AUX
fbem-11083	147	14	indicative	indicative	ADJ
fbem-11083	147	15	of	of	ADP
fbem-11083	147	16	their	their	PRON
fbem-11083	147	17	sound	sound	ADJ
fbem-11083	147	18	financial	financial	ADJ
fbem-11083	147	19	management	management	NOUN
fbem-11083	147	20	and	and	CCONJ
fbem-11083	147	21	operational	operational	ADJ
fbem-11083	147	22	capabilities	capability	NOUN
fbem-11083	147	23	.	.	PUNCT
fbem-11083	148	1	table	table	NOUN
fbem-11083	148	2	2.3.2.1	2.3.2.1	PROPN
fbem-11083	148	3	:	:	PUNCT
fbem-11083	148	4	inventory	inventory	NOUN
fbem-11083	148	5	turnover	turnover	NOUN
fbem-11083	148	6	ratio	ratio	NOUN
fbem-11083	148	7	indicators	indicator	NOUN
fbem-11083	148	8	for	for	ADP
fbem-11083	148	9	guizhou	guizhou	PROPN
fbem-11083	148	10	maotai	maotai	PROPN
fbem-11083	148	11	year	year	NOUN
fbem-11083	148	12	2017	2017	NUM
fbem-11083	148	13	2018	2018	NUM
fbem-11083	148	14	2019	2019	NUM
fbem-11083	148	15	2020	2020	NUM
fbem-11083	148	16	2021	2021	NUM
fbem-11083	148	17	index	index	NOUN
fbem-11083	148	18	0.28	0.28	NUM
fbem-11083	148	19	0.29	0.29	NUM
fbem-11083	148	20	0.3	0.3	NUM
fbem-11083	148	21	0.3	0.3	NUM
fbem-11083	148	22	0.29	0.29	NUM
fbem-11083	148	23	table	table	NOUN
fbem-11083	148	24	2.3.2.1	2.3.2.1	PROPN
fbem-11083	148	25	:	:	PUNCT
fbem-11083	148	26	inventory	inventory	NOUN
fbem-11083	148	27	turnover	turnover	NOUN
fbem-11083	148	28	ratio	ratio	NOUN
fbem-11083	148	29	indicators	indicator	NOUN
fbem-11083	148	30	for	for	ADP
fbem-11083	148	31	wuliangye	wuliangye	NOUN
fbem-11083	148	32	year	year	NOUN
fbem-11083	148	33	2017	2017	NUM
fbem-11083	148	34	2018	2018	NUM
fbem-11083	148	35	2019	2019	NUM
fbem-11083	148	36	2020	2020	NUM
fbem-11083	148	37	2021	2021	NUM
fbem-11083	148	38	index	index	NOUN
fbem-11083	148	39	0.85	0.85	NUM
fbem-11083	148	40	0.94	0.94	NUM
fbem-11083	148	41	1.01	1.01	NUM
fbem-11083	148	42	1.10	1.10	NUM
fbem-11083	148	43	1.2	1.2	NUM
fbem-11083	148	44	0	0	NUM
fbem-11083	149	1	200	200	NUM
fbem-11083	149	2	400	400	NUM
fbem-11083	149	3	600	600	NUM
fbem-11083	149	4	800	800	NUM
fbem-11083	149	5	1000	1000	NUM
fbem-11083	149	6	1200	1200	NUM
fbem-11083	149	7	1400	1400	NUM
fbem-11083	149	8	2017	2017	NUM
fbem-11083	149	9	2018	2018	NUM
fbem-11083	149	10	2019	2019	NUM
fbem-11083	149	11	2020	2020	NUM
fbem-11083	149	12	2021	2021	NUM
fbem-11083	149	13	accounts	account	NOUN
fbem-11083	149	14	receivable	receivable	ADJ
fbem-11083	149	15	turnover	turnover	NOUN
fbem-11083	149	16	ratio	ratio	NOUN
fbem-11083	149	17	accounts	account	VERB
fbem-11083	149	18	receivable	receivable	ADJ
fbem-11083	149	19	turnover	turnover	NOUN
fbem-11083	149	20	ratio	ratio	NOUN
fbem-11083	149	21	for	for	ADP
fbem-11083	149	22	wuliangye（times	wuliangye（time	NOUN
fbem-11083	149	23	）	）	SYM
fbem-11083	149	24	390	390	NUM
fbem-11083	149	25	data	datum	NOUN
fbem-11083	149	26	source	source	NOUN
fbem-11083	149	27	:	:	PUNCT
fbem-11083	149	28	csmar	csmar	PROPN
fbem-11083	149	29	figure	figure	NOUN
fbem-11083	149	30	2.3.2	2.3.2	NUM
fbem-11083	149	31	trend	trend	NOUN
fbem-11083	149	32	of	of	ADP
fbem-11083	149	33	inventory	inventory	NOUN
fbem-11083	149	34	turnover	turnover	NOUN
fbem-11083	149	35	2.4	2.4	NUM
fbem-11083	149	36	.	.	PUNCT
fbem-11083	150	1	development	development	NOUN
fbem-11083	150	2	capability	capability	NOUN
fbem-11083	150	3	analysis	analysis	NOUN
fbem-11083	150	4	in	in	ADP
fbem-11083	150	5	this	this	DET
fbem-11083	150	6	section	section	NOUN
fbem-11083	150	7	,	,	PUNCT
fbem-11083	150	8	we	we	PRON
fbem-11083	150	9	conduct	conduct	VERB
fbem-11083	150	10	an	an	DET
fbem-11083	150	11	evaluation	evaluation	NOUN
fbem-11083	150	12	and	and	CCONJ
fbem-11083	150	13	analysis	analysis	NOUN
fbem-11083	150	14	of	of	ADP
fbem-11083	150	15	the	the	DET
fbem-11083	150	16	development	development	NOUN
fbem-11083	150	17	capabilities	capability	NOUN
fbem-11083	150	18	of	of	ADP
fbem-11083	150	19	guizhou	guizhou	PROPN
fbem-11083	150	20	maotai	maotai	PROPN
fbem-11083	150	21	and	and	CCONJ
fbem-11083	150	22	wuliangye	wuliangye	NOUN
fbem-11083	150	23	based	base	VERB
fbem-11083	150	24	on	on	ADP
fbem-11083	150	25	key	key	ADJ
fbem-11083	150	26	performance	performance	NOUN
fbem-11083	150	27	indicators	indicator	NOUN
fbem-11083	150	28	,	,	PUNCT
fbem-11083	150	29	including	include	VERB
fbem-11083	150	30	revenue	revenue	NOUN
fbem-11083	150	31	growth	growth	NOUN
fbem-11083	150	32	rate	rate	NOUN
fbem-11083	150	33	,	,	PUNCT
fbem-11083	150	34	operating	operate	VERB
fbem-11083	150	35	profit	profit	NOUN
fbem-11083	150	36	growth	growth	NOUN
fbem-11083	150	37	rate	rate	NOUN
fbem-11083	150	38	,	,	PUNCT
fbem-11083	150	39	total	total	ADJ
fbem-11083	150	40	asset	asset	NOUN
fbem-11083	150	41	growth	growth	NOUN
fbem-11083	150	42	rate	rate	NOUN
fbem-11083	150	43	,	,	PUNCT
fbem-11083	150	44	and	and	CCONJ
fbem-11083	150	45	capital	capital	NOUN
fbem-11083	150	46	accumulation	accumulation	NOUN
fbem-11083	150	47	rate	rate	NOUN
fbem-11083	150	48	.	.	PUNCT
fbem-11083	151	1	2.4.1	2.4.1	NUM
fbem-11083	151	2	.	.	PUNCT
fbem-11083	151	3	revenue	revenue	NOUN
fbem-11083	151	4	growth	growth	NOUN
fbem-11083	151	5	rate	rate	NOUN
fbem-11083	151	6	analysis	analysis	NOUN
fbem-11083	151	7	the	the	DET
fbem-11083	151	8	revenue	revenue	NOUN
fbem-11083	151	9	growth	growth	NOUN
fbem-11083	151	10	rate	rate	NOUN
fbem-11083	151	11	is	be	AUX
fbem-11083	151	12	a	a	DET
fbem-11083	151	13	fundamental	fundamental	ADJ
fbem-11083	151	14	metric	metric	NOUN
fbem-11083	151	15	that	that	PRON
fbem-11083	151	16	reflects	reflect	VERB
fbem-11083	151	17	a	a	DET
fbem-11083	151	18	company	company	NOUN
fbem-11083	151	19	's	's	PART
fbem-11083	151	20	ability	ability	NOUN
fbem-11083	151	21	to	to	PART
fbem-11083	151	22	generate	generate	VERB
fbem-11083	151	23	increased	increase	VERB
fbem-11083	151	24	sales	sale	NOUN
fbem-11083	151	25	over	over	ADP
fbem-11083	151	26	a	a	DET
fbem-11083	151	27	specific	specific	ADJ
fbem-11083	151	28	period	period	NOUN
fbem-11083	151	29	.	.	PUNCT
fbem-11083	152	1	it	it	PRON
fbem-11083	152	2	is	be	AUX
fbem-11083	152	3	calculated	calculate	VERB
fbem-11083	152	4	using	use	VERB
fbem-11083	152	5	the	the	DET
fbem-11083	152	6	formula	formula	NOUN
fbem-11083	152	7	:	:	PUNCT
fbem-11083	152	8	revenue	revenue	NOUN
fbem-11083	152	9	growth	growth	NOUN
fbem-11083	152	10	rate	rate	NOUN
fbem-11083	152	11	=	=	PUNCT
fbem-11083	152	12	(	(	PUNCT
fbem-11083	152	13	current	current	ADJ
fbem-11083	152	14	year	year	NOUN
fbem-11083	152	15	revenue	revenue	NOUN
fbem-11083	152	16	/	/	PUNCT
fbem-11083	152	17	last	last	ADJ
fbem-11083	152	18	year	year	NOUN
fbem-11083	152	19	revenue	revenue	NOUN
fbem-11083	152	20	)	)	PUNCT
fbem-11083	152	21	1	1	NUM
fbem-11083	152	22	this	this	DET
fbem-11083	152	23	indicator	indicator	NOUN
fbem-11083	152	24	is	be	AUX
fbem-11083	152	25	crucial	crucial	ADJ
fbem-11083	152	26	in	in	ADP
fbem-11083	152	27	assessing	assess	VERB
fbem-11083	152	28	a	a	DET
fbem-11083	152	29	company	company	NOUN
fbem-11083	152	30	's	's	PART
fbem-11083	152	31	business	business	NOUN
fbem-11083	152	32	expansion	expansion	NOUN
fbem-11083	152	33	and	and	CCONJ
fbem-11083	152	34	market	market	NOUN
fbem-11083	152	35	competitiveness	competitiveness	NOUN
fbem-11083	152	36	.	.	PUNCT
fbem-11083	153	1	higher	high	ADJ
fbem-11083	153	2	revenue	revenue	NOUN
fbem-11083	153	3	growth	growth	NOUN
fbem-11083	153	4	rates	rate	NOUN
fbem-11083	153	5	imply	imply	VERB
fbem-11083	153	6	faster	fast	ADJ
fbem-11083	153	7	business	business	NOUN
fbem-11083	153	8	expansion	expansion	NOUN
fbem-11083	153	9	and	and	CCONJ
fbem-11083	153	10	a	a	DET
fbem-11083	153	11	positive	positive	ADJ
fbem-11083	153	12	market	market	NOUN
fbem-11083	153	13	outlook	outlook	NOUN
fbem-11083	153	14	,	,	PUNCT
fbem-11083	153	15	while	while	SCONJ
fbem-11083	153	16	negative	negative	ADJ
fbem-11083	153	17	growth	growth	NOUN
fbem-11083	153	18	rates	rate	NOUN
fbem-11083	153	19	may	may	AUX
fbem-11083	153	20	indicate	indicate	VERB
fbem-11083	153	21	potential	potential	ADJ
fbem-11083	153	22	issues	issue	NOUN
fbem-11083	153	23	with	with	ADP
fbem-11083	153	24	product	product	NOUN
fbem-11083	153	25	-	-	PUNCT
fbem-11083	153	26	market	market	NOUN
fbem-11083	153	27	fit	fit	NOUN
fbem-11083	153	28	or	or	CCONJ
fbem-11083	153	29	market	market	NOUN
fbem-11083	153	30	share	share	NOUN
fbem-11083	153	31	decline	decline	NOUN
fbem-11083	153	32	.	.	PUNCT
fbem-11083	154	1	according	accord	VERB
fbem-11083	154	2	to	to	ADP
fbem-11083	154	3	table	table	NOUN
fbem-11083	154	4	2.4.1.1	2.4.1.1	NUM
fbem-11083	154	5	and	and	CCONJ
fbem-11083	154	6	figure	figure	VERB
fbem-11083	154	7	2.4.1	2.4.1	NUM
fbem-11083	154	8	,	,	PUNCT
fbem-11083	154	9	guizhou	guizhou	NOUN
fbem-11083	154	10	maotai	maotai	PROPN
fbem-11083	154	11	's	's	PART
fbem-11083	154	12	revenue	revenue	NOUN
fbem-11083	154	13	growth	growth	NOUN
fbem-11083	154	14	rate	rate	NOUN
fbem-11083	154	15	from	from	ADP
fbem-11083	154	16	2017	2017	NUM
fbem-11083	154	17	to	to	ADP
fbem-11083	154	18	2021	2021	NUM
fbem-11083	154	19	was	be	AUX
fbem-11083	154	20	49.81	49.81	NUM
fbem-11083	154	21	%	%	NOUN
fbem-11083	154	22	,	,	PUNCT
fbem-11083	154	23	26.49	26.49	NUM
fbem-11083	154	24	%	%	NOUN
fbem-11083	154	25	,	,	PUNCT
fbem-11083	154	26	16.01	16.01	NUM
fbem-11083	154	27	%	%	NOUN
fbem-11083	154	28	,	,	PUNCT
fbem-11083	154	29	11.1	11.1	NUM
fbem-11083	154	30	%	%	NOUN
fbem-11083	154	31	,	,	PUNCT
fbem-11083	154	32	and	and	CCONJ
fbem-11083	154	33	11.88	11.88	NUM
fbem-11083	154	34	%	%	NOUN
fbem-11083	154	35	,	,	PUNCT
fbem-11083	154	36	respectively	respectively	ADV
fbem-11083	154	37	.	.	PUNCT
fbem-11083	155	1	although	although	SCONJ
fbem-11083	155	2	the	the	DET
fbem-11083	155	3	company	company	NOUN
fbem-11083	155	4	experienced	experience	VERB
fbem-11083	155	5	continuous	continuous	ADJ
fbem-11083	155	6	revenue	revenue	NOUN
fbem-11083	155	7	growth	growth	NOUN
fbem-11083	155	8	during	during	ADP
fbem-11083	155	9	this	this	DET
fbem-11083	155	10	period	period	NOUN
fbem-11083	155	11	,	,	PUNCT
fbem-11083	155	12	there	there	PRON
fbem-11083	155	13	is	be	VERB
fbem-11083	155	14	a	a	DET
fbem-11083	155	15	noticeable	noticeable	ADJ
fbem-11083	155	16	trend	trend	NOUN
fbem-11083	155	17	of	of	ADP
fbem-11083	155	18	declining	decline	VERB
fbem-11083	155	19	growth	growth	NOUN
fbem-11083	155	20	rates	rate	NOUN
fbem-11083	155	21	,	,	PUNCT
fbem-11083	155	22	suggesting	suggest	VERB
fbem-11083	155	23	that	that	SCONJ
fbem-11083	155	24	guizhou	guizhou	PROPN
fbem-11083	155	25	maotai	maotai	PROPN
fbem-11083	155	26	's	's	PART
fbem-11083	155	27	expansion	expansion	NOUN
fbem-11083	155	28	pace	pace	NOUN
fbem-11083	155	29	has	have	AUX
fbem-11083	155	30	slowed	slow	VERB
fbem-11083	155	31	down	down	ADP
fbem-11083	155	32	over	over	ADP
fbem-11083	155	33	time	time	NOUN
fbem-11083	155	34	.	.	PUNCT
fbem-11083	156	1	on	on	ADP
fbem-11083	156	2	the	the	DET
fbem-11083	156	3	other	other	ADJ
fbem-11083	156	4	hand	hand	NOUN
fbem-11083	156	5	,	,	PUNCT
fbem-11083	156	6	table	table	NOUN
fbem-11083	156	7	2.4.1.2	2.4.1.2	NUM
fbem-11083	156	8	and	and	CCONJ
fbem-11083	156	9	figure	figure	VERB
fbem-11083	156	10	2.4.1	2.4.1	NUM
fbem-11083	156	11	reveal	reveal	NOUN
fbem-11083	156	12	that	that	SCONJ
fbem-11083	156	13	wuliangye	wuliangye	NOUN
fbem-11083	156	14	achieved	achieve	VERB
fbem-11083	156	15	revenue	revenue	NOUN
fbem-11083	156	16	growth	growth	NOUN
fbem-11083	156	17	rates	rate	NOUN
fbem-11083	156	18	of	of	ADP
fbem-11083	156	19	22.99	22.99	NUM
fbem-11083	156	20	%	%	NOUN
fbem-11083	156	21	,	,	PUNCT
fbem-11083	156	22	32.61	32.61	NUM
fbem-11083	156	23	%	%	NOUN
fbem-11083	156	24	,	,	PUNCT
fbem-11083	156	25	25.20	25.20	NUM
fbem-11083	156	26	%	%	NOUN
fbem-11083	156	27	,	,	PUNCT
fbem-11083	156	28	14.37	14.37	NUM
fbem-11083	156	29	%	%	NOUN
fbem-11083	156	30	,	,	PUNCT
fbem-11083	156	31	and	and	CCONJ
fbem-11083	156	32	15.51	15.51	NUM
fbem-11083	156	33	%	%	NOUN
fbem-11083	156	34	from	from	ADP
fbem-11083	156	35	2017	2017	NUM
fbem-11083	156	36	to	to	ADP
fbem-11083	156	37	2021	2021	NUM
fbem-11083	156	38	,	,	PUNCT
fbem-11083	156	39	respectively	respectively	ADV
fbem-11083	156	40	.	.	PUNCT
fbem-11083	157	1	like	like	ADP
fbem-11083	157	2	guizhou	guizhou	PROPN
fbem-11083	157	3	maotai	maotai	PROPN
fbem-11083	157	4	,	,	PUNCT
fbem-11083	157	5	wuliangye	wuliangye	PROPN
fbem-11083	157	6	also	also	ADV
fbem-11083	157	7	exhibited	exhibit	VERB
fbem-11083	157	8	a	a	DET
fbem-11083	157	9	trend	trend	NOUN
fbem-11083	157	10	of	of	ADP
fbem-11083	157	11	decreasing	decrease	VERB
fbem-11083	157	12	growth	growth	NOUN
fbem-11083	157	13	rates	rate	NOUN
fbem-11083	157	14	during	during	ADP
fbem-11083	157	15	these	these	DET
fbem-11083	157	16	years	year	NOUN
fbem-11083	157	17	,	,	PUNCT
fbem-11083	157	18	indicating	indicate	VERB
fbem-11083	157	19	a	a	DET
fbem-11083	157	20	slowing	slow	VERB
fbem-11083	157	21	expansion	expansion	NOUN
fbem-11083	157	22	momentum	momentum	NOUN
fbem-11083	157	23	.	.	PUNCT
fbem-11083	158	1	it	it	PRON
fbem-11083	158	2	is	be	AUX
fbem-11083	158	3	important	important	ADJ
fbem-11083	158	4	to	to	PART
fbem-11083	158	5	note	note	VERB
fbem-11083	158	6	that	that	SCONJ
fbem-11083	158	7	the	the	DET
fbem-11083	158	8	declining	decline	VERB
fbem-11083	158	9	growth	growth	NOUN
fbem-11083	158	10	rates	rate	NOUN
fbem-11083	158	11	for	for	ADP
fbem-11083	158	12	both	both	DET
fbem-11083	158	13	companies	company	NOUN
fbem-11083	158	14	might	might	AUX
fbem-11083	158	15	be	be	AUX
fbem-11083	158	16	partly	partly	ADV
fbem-11083	158	17	attributed	attribute	VERB
fbem-11083	158	18	to	to	ADP
fbem-11083	158	19	their	their	PRON
fbem-11083	158	20	mature	mature	ADJ
fbem-11083	158	21	market	market	NOUN
fbem-11083	158	22	positions	position	NOUN
fbem-11083	158	23	.	.	PUNCT
fbem-11083	159	1	guizhou	guizhou	PROPN
fbem-11083	159	2	maotai	maotai	PROPN
fbem-11083	159	3	,	,	PUNCT
fbem-11083	159	4	being	be	AUX
fbem-11083	159	5	a	a	DET
fbem-11083	159	6	leading	lead	VERB
fbem-11083	159	7	producer	producer	NOUN
fbem-11083	159	8	of	of	ADP
fbem-11083	159	9	high	high	ADJ
fbem-11083	159	10	-	-	PUNCT
fbem-11083	159	11	end	end	NOUN
fbem-11083	159	12	baijiu	baijiu	NOUN
fbem-11083	159	13	with	with	ADP
fbem-11083	159	14	limited	limited	ADJ
fbem-11083	159	15	production	production	NOUN
fbem-11083	159	16	capacity	capacity	NOUN
fbem-11083	159	17	,	,	PUNCT
fbem-11083	159	18	may	may	AUX
fbem-11083	159	19	face	face	VERB
fbem-11083	159	20	challenges	challenge	NOUN
fbem-11083	159	21	in	in	ADP
fbem-11083	159	22	sustaining	sustain	VERB
fbem-11083	159	23	rapid	rapid	ADJ
fbem-11083	159	24	revenue	revenue	NOUN
fbem-11083	159	25	growth	growth	NOUN
fbem-11083	159	26	due	due	ADP
fbem-11083	159	27	to	to	ADP
fbem-11083	159	28	supply	supply	NOUN
fbem-11083	159	29	constraints	constraint	NOUN
fbem-11083	159	30	.	.	PUNCT
fbem-11083	160	1	similarly	similarly	ADV
fbem-11083	160	2	,	,	PUNCT
fbem-11083	160	3	wuliangye	wuliangye	PROPN
fbem-11083	160	4	,	,	PUNCT
fbem-11083	160	5	while	while	SCONJ
fbem-11083	160	6	experiencing	experience	VERB
fbem-11083	160	7	steady	steady	ADJ
fbem-11083	160	8	expansion	expansion	NOUN
fbem-11083	160	9	,	,	PUNCT
fbem-11083	160	10	may	may	AUX
fbem-11083	160	11	encounter	encounter	VERB
fbem-11083	160	12	growth	growth	NOUN
fbem-11083	160	13	limitations	limitation	NOUN
fbem-11083	160	14	in	in	ADP
fbem-11083	160	15	the	the	DET
fbem-11083	160	16	highly	highly	ADV
fbem-11083	160	17	competitive	competitive	ADJ
fbem-11083	160	18	baijiu	baijiu	NOUN
fbem-11083	160	19	market	market	NOUN
fbem-11083	160	20	.	.	PUNCT
fbem-11083	161	1	to	to	PART
fbem-11083	161	2	maintain	maintain	VERB
fbem-11083	161	3	sustainable	sustainable	ADJ
fbem-11083	161	4	growth	growth	NOUN
fbem-11083	161	5	,	,	PUNCT
fbem-11083	161	6	both	both	DET
fbem-11083	161	7	companies	company	NOUN
fbem-11083	161	8	should	should	AUX
fbem-11083	161	9	explore	explore	VERB
fbem-11083	161	10	new	new	ADJ
fbem-11083	161	11	opportunities	opportunity	NOUN
fbem-11083	161	12	for	for	ADP
fbem-11083	161	13	market	market	NOUN
fbem-11083	161	14	expansion	expansion	NOUN
fbem-11083	161	15	,	,	PUNCT
fbem-11083	161	16	product	product	NOUN
fbem-11083	161	17	diversification	diversification	NOUN
fbem-11083	161	18	,	,	PUNCT
fbem-11083	161	19	and	and	CCONJ
fbem-11083	161	20	enhanced	enhance	VERB
fbem-11083	161	21	brand	brand	NOUN
fbem-11083	161	22	positioning	positioning	NOUN
fbem-11083	161	23	.	.	PUNCT
fbem-11083	162	1	additionally	additionally	ADV
fbem-11083	162	2	,	,	PUNCT
fbem-11083	162	3	continuous	continuous	ADJ
fbem-11083	162	4	improvements	improvement	NOUN
fbem-11083	162	5	in	in	ADP
fbem-11083	162	6	production	production	NOUN
fbem-11083	162	7	efficiency	efficiency	NOUN
fbem-11083	162	8	,	,	PUNCT
fbem-11083	162	9	marketing	marketing	NOUN
fbem-11083	162	10	strategies	strategy	NOUN
fbem-11083	162	11	,	,	PUNCT
fbem-11083	162	12	and	and	CCONJ
fbem-11083	162	13	product	product	NOUN
fbem-11083	162	14	quality	quality	NOUN
fbem-11083	162	15	are	be	AUX
fbem-11083	162	16	vital	vital	ADJ
fbem-11083	162	17	to	to	PART
fbem-11083	162	18	ensure	ensure	VERB
fbem-11083	162	19	long	long	ADJ
fbem-11083	162	20	-	-	PUNCT
fbem-11083	162	21	term	term	NOUN
fbem-11083	162	22	competitiveness	competitiveness	NOUN
fbem-11083	162	23	and	and	CCONJ
fbem-11083	162	24	robust	robust	ADJ
fbem-11083	162	25	development	development	NOUN
fbem-11083	162	26	capabilities	capability	NOUN
fbem-11083	162	27	.	.	PUNCT
fbem-11083	163	1	in	in	ADP
fbem-11083	163	2	summary	summary	NOUN
fbem-11083	163	3	,	,	PUNCT
fbem-11083	163	4	while	while	SCONJ
fbem-11083	163	5	both	both	DET
fbem-11083	163	6	guizhou	guizhou	PROPN
fbem-11083	163	7	maotai	maotai	PROPN
fbem-11083	163	8	and	and	CCONJ
fbem-11083	163	9	wuliangye	wuliangye	NOUN
fbem-11083	163	10	have	have	AUX
fbem-11083	163	11	demonstrated	demonstrate	VERB
fbem-11083	163	12	positive	positive	ADJ
fbem-11083	163	13	revenue	revenue	NOUN
fbem-11083	163	14	growth	growth	NOUN
fbem-11083	163	15	over	over	ADP
fbem-11083	163	16	the	the	DET
fbem-11083	163	17	years	year	NOUN
fbem-11083	163	18	,	,	PUNCT
fbem-11083	163	19	the	the	DET
fbem-11083	163	20	declining	decline	VERB
fbem-11083	163	21	growth	growth	NOUN
fbem-11083	163	22	rates	rate	NOUN
fbem-11083	163	23	suggest	suggest	VERB
fbem-11083	163	24	the	the	DET
fbem-11083	163	25	need	need	NOUN
fbem-11083	163	26	for	for	ADP
fbem-11083	163	27	strategic	strategic	ADJ
fbem-11083	163	28	adjustments	adjustment	NOUN
fbem-11083	163	29	and	and	CCONJ
fbem-11083	163	30	innovation	innovation	NOUN
fbem-11083	163	31	to	to	PART
fbem-11083	163	32	sustain	sustain	VERB
fbem-11083	163	33	their	their	PRON
fbem-11083	163	34	growth	growth	NOUN
fbem-11083	163	35	trajectories	trajectory	NOUN
fbem-11083	163	36	in	in	ADP
fbem-11083	163	37	the	the	DET
fbem-11083	163	38	dynamic	dynamic	ADJ
fbem-11083	163	39	baijiu	baijiu	NOUN
fbem-11083	163	40	market	market	NOUN
fbem-11083	163	41	.	.	PUNCT
fbem-11083	164	1	table	table	NOUN
fbem-11083	164	2	2.4.1.1	2.4.1.1	NUM
fbem-11083	164	3	guizhou	guizhou	NOUN
fbem-11083	164	4	maotai	maotai	PROPN
fbem-11083	164	5	revenue	revenue	NOUN
fbem-11083	164	6	growth	growth	NOUN
fbem-11083	164	7	rate	rate	NOUN
fbem-11083	164	8	indicators	indicator	NOUN
fbem-11083	164	9	year	year	NOUN
fbem-11083	164	10	2017	2017	NUM
fbem-11083	164	11	2018	2018	NUM
fbem-11083	164	12	2019	2019	NUM
fbem-11083	164	13	2020	2020	NUM
fbem-11083	164	14	2021	2021	NUM
fbem-11083	164	15	index	index	NOUN
fbem-11083	164	16	49.81	49.81	NUM
fbem-11083	164	17	%	%	NOUN
fbem-11083	164	18	26.49	26.49	NUM
fbem-11083	164	19	%	%	NOUN
fbem-11083	164	20	16.01	16.01	NUM
fbem-11083	164	21	%	%	NOUN
fbem-11083	164	22	11.1	11.1	NUM
fbem-11083	164	23	%	%	NOUN
fbem-11083	164	24	11.88	11.88	NUM
fbem-11083	164	25	%	%	NOUN
fbem-11083	164	26	table	table	NOUN
fbem-11083	164	27	2.4.1.2	2.4.1.2	NUM
fbem-11083	164	28	wuliangye	wuliangye	NOUN
fbem-11083	164	29	revenue	revenue	NOUN
fbem-11083	164	30	growth	growth	NOUN
fbem-11083	164	31	rate	rate	NOUN
fbem-11083	164	32	indicators	indicator	NOUN
fbem-11083	164	33	year	year	NOUN
fbem-11083	164	34	2017	2017	NUM
fbem-11083	164	35	2018	2018	NUM
fbem-11083	164	36	2019	2019	NUM
fbem-11083	164	37	2020	2020	NUM
fbem-11083	164	38	2021	2021	NUM
fbem-11083	164	39	index	index	NOUN
fbem-11083	164	40	22.99	22.99	NUM
fbem-11083	164	41	%	%	NOUN
fbem-11083	164	42	32.61	32.61	NUM
fbem-11083	164	43	%	%	NOUN
fbem-11083	164	44	25.20	25.20	NUM
fbem-11083	164	45	%	%	NOUN
fbem-11083	164	46	14.37	14.37	NUM
fbem-11083	164	47	%	%	NOUN
fbem-11083	164	48	15.51	15.51	NUM
fbem-11083	164	49	%	%	NOUN
fbem-11083	164	50	0	0	NUM
fbem-11083	164	51	0.2	0.2	NUM
fbem-11083	164	52	0.4	0.4	NUM
fbem-11083	164	53	0.6	0.6	NUM
fbem-11083	164	54	0.8	0.8	NUM
fbem-11083	164	55	1	1	NUM
fbem-11083	164	56	1.2	1.2	NUM
fbem-11083	164	57	1.4	1.4	NUM
fbem-11083	164	58	2017	2017	NUM
fbem-11083	164	59	2018	2018	NUM
fbem-11083	164	60	2019	2019	NUM
fbem-11083	164	61	2020	2020	NUM
fbem-11083	164	62	2021	2021	NUM
fbem-11083	164	63	inventory	inventory	NOUN
fbem-11083	164	64	turnover	turnover	NOUN
fbem-11083	164	65	ratio	ratio	NOUN
fbem-11083	164	66	inventory	inventory	NOUN
fbem-11083	164	67	turnover	turnover	NOUN
fbem-11083	164	68	ratio	ratio	NOUN
fbem-11083	164	69	indicators	indicator	NOUN
fbem-11083	164	70	for	for	ADP
fbem-11083	164	71	guizhou	guizhou	PROPN
fbem-11083	164	72	maotai	maotai	NOUN
fbem-11083	164	73	inventory	inventory	NOUN
fbem-11083	164	74	turnover	turnover	NOUN
fbem-11083	164	75	ratio	ratio	NOUN
fbem-11083	164	76	indicators	indicator	NOUN
fbem-11083	164	77	for	for	ADP
fbem-11083	164	78	guizhou	guizhou	PROPN
fbem-11083	164	79	maotai	maotai	PROPN
fbem-11083	164	80	391	391	NUM
fbem-11083	164	81	data	datum	NOUN
fbem-11083	164	82	source	source	NOUN
fbem-11083	164	83	:	:	PUNCT
fbem-11083	164	84	csmar	csmar	PROPN
fbem-11083	164	85	figure	figure	NOUN
fbem-11083	164	86	2.4.1	2.4.1	NUM
fbem-11083	164	87	trend	trend	NOUN
fbem-11083	164	88	of	of	ADP
fbem-11083	164	89	operating	operate	VERB
fbem-11083	164	90	income	income	NOUN
fbem-11083	164	91	growth	growth	NOUN
fbem-11083	164	92	rate	rate	NOUN
fbem-11083	164	93	2.4.2	2.4.2	NOUN
fbem-11083	164	94	.	.	PUNCT
fbem-11083	165	1	operating	operate	VERB
fbem-11083	165	2	profit	profit	NOUN
fbem-11083	165	3	growth	growth	NOUN
fbem-11083	165	4	rate	rate	NOUN
fbem-11083	165	5	analysis	analysis	NOUN
fbem-11083	165	6	the	the	DET
fbem-11083	165	7	operating	operate	VERB
fbem-11083	165	8	profit	profit	NOUN
fbem-11083	165	9	growth	growth	NOUN
fbem-11083	165	10	rate	rate	NOUN
fbem-11083	165	11	,	,	PUNCT
fbem-11083	165	12	also	also	ADV
fbem-11083	165	13	known	know	VERB
fbem-11083	165	14	as	as	ADP
fbem-11083	165	15	the	the	DET
fbem-11083	165	16	sales	sale	NOUN
fbem-11083	165	17	profit	profit	NOUN
fbem-11083	165	18	growth	growth	NOUN
fbem-11083	165	19	rate	rate	NOUN
fbem-11083	165	20	,	,	PUNCT
fbem-11083	165	21	is	be	AUX
fbem-11083	165	22	a	a	DET
fbem-11083	165	23	financial	financial	ADJ
fbem-11083	165	24	metric	metric	NOUN
fbem-11083	165	25	used	use	VERB
fbem-11083	165	26	to	to	PART
fbem-11083	165	27	assess	assess	VERB
fbem-11083	165	28	a	a	DET
fbem-11083	165	29	company	company	NOUN
fbem-11083	165	30	's	's	PART
fbem-11083	165	31	profitability	profitability	NOUN
fbem-11083	165	32	and	and	CCONJ
fbem-11083	165	33	its	its	PRON
fbem-11083	165	34	ability	ability	NOUN
fbem-11083	165	35	to	to	PART
fbem-11083	165	36	generate	generate	VERB
fbem-11083	165	37	profits	profit	NOUN
fbem-11083	165	38	from	from	ADP
fbem-11083	165	39	its	its	PRON
fbem-11083	165	40	core	core	NOUN
fbem-11083	165	41	business	business	NOUN
fbem-11083	165	42	operations	operation	NOUN
fbem-11083	165	43	over	over	ADP
fbem-11083	165	44	a	a	DET
fbem-11083	165	45	specific	specific	ADJ
fbem-11083	165	46	period	period	NOUN
fbem-11083	165	47	.	.	PUNCT
fbem-11083	166	1	it	it	PRON
fbem-11083	166	2	is	be	AUX
fbem-11083	166	3	calculated	calculate	VERB
fbem-11083	166	4	as	as	ADP
fbem-11083	166	5	the	the	DET
fbem-11083	166	6	percentage	percentage	NOUN
fbem-11083	166	7	increase	increase	NOUN
fbem-11083	166	8	in	in	ADP
fbem-11083	166	9	operating	operating	NOUN
fbem-11083	166	10	profit	profit	NOUN
fbem-11083	166	11	from	from	ADP
fbem-11083	166	12	the	the	DET
fbem-11083	166	13	current	current	ADJ
fbem-11083	166	14	year	year	NOUN
fbem-11083	166	15	compared	compare	VERB
fbem-11083	166	16	to	to	ADP
fbem-11083	166	17	the	the	DET
fbem-11083	166	18	total	total	ADJ
fbem-11083	166	19	operating	operate	VERB
fbem-11083	166	20	profit	profit	NOUN
fbem-11083	166	21	of	of	ADP
fbem-11083	166	22	the	the	DET
fbem-11083	166	23	previous	previous	ADJ
fbem-11083	166	24	year	year	NOUN
fbem-11083	166	25	.	.	PUNCT
fbem-11083	167	1	this	this	DET
fbem-11083	167	2	metric	metric	NOUN
fbem-11083	167	3	is	be	AUX
fbem-11083	167	4	an	an	DET
fbem-11083	167	5	essential	essential	ADJ
fbem-11083	167	6	indicator	indicator	NOUN
fbem-11083	167	7	for	for	ADP
fbem-11083	167	8	investors	investor	NOUN
fbem-11083	167	9	,	,	PUNCT
fbem-11083	167	10	analysts	analyst	NOUN
fbem-11083	167	11	,	,	PUNCT
fbem-11083	167	12	and	and	CCONJ
fbem-11083	167	13	stakeholders	stakeholder	NOUN
fbem-11083	167	14	to	to	PART
fbem-11083	167	15	gauge	gauge	VERB
fbem-11083	167	16	the	the	DET
fbem-11083	167	17	financial	financial	ADJ
fbem-11083	167	18	performance	performance	NOUN
fbem-11083	167	19	and	and	CCONJ
fbem-11083	167	20	efficiency	efficiency	NOUN
fbem-11083	167	21	of	of	ADP
fbem-11083	167	22	a	a	DET
fbem-11083	167	23	company	company	NOUN
fbem-11083	167	24	's	's	PART
fbem-11083	167	25	operations	operation	NOUN
fbem-11083	167	26	.	.	PUNCT
fbem-11083	168	1	a	a	DET
fbem-11083	168	2	higher	high	ADJ
fbem-11083	168	3	operating	operating	NOUN
fbem-11083	168	4	profit	profit	NOUN
fbem-11083	168	5	growth	growth	NOUN
fbem-11083	168	6	rate	rate	NOUN
fbem-11083	168	7	indicates	indicate	VERB
fbem-11083	168	8	that	that	SCONJ
fbem-11083	168	9	the	the	DET
fbem-11083	168	10	company	company	NOUN
fbem-11083	168	11	is	be	AUX
fbem-11083	168	12	successfully	successfully	ADV
fbem-11083	168	13	increasing	increase	VERB
fbem-11083	168	14	its	its	PRON
fbem-11083	168	15	profitability	profitability	NOUN
fbem-11083	168	16	and	and	CCONJ
fbem-11083	168	17	generating	generate	VERB
fbem-11083	168	18	more	more	ADJ
fbem-11083	168	19	profits	profit	NOUN
fbem-11083	168	20	from	from	ADP
fbem-11083	168	21	its	its	PRON
fbem-11083	168	22	core	core	NOUN
fbem-11083	168	23	business	business	NOUN
fbem-11083	168	24	activities	activity	NOUN
fbem-11083	168	25	.	.	PUNCT
fbem-11083	169	1	it	it	PRON
fbem-11083	169	2	may	may	AUX
fbem-11083	169	3	result	result	VERB
fbem-11083	169	4	from	from	ADP
fbem-11083	169	5	various	various	ADJ
fbem-11083	169	6	factors	factor	NOUN
fbem-11083	169	7	,	,	PUNCT
fbem-11083	169	8	such	such	ADJ
fbem-11083	169	9	as	as	ADP
fbem-11083	169	10	effective	effective	ADJ
fbem-11083	169	11	cost	cost	NOUN
fbem-11083	169	12	management	management	NOUN
fbem-11083	169	13	,	,	PUNCT
fbem-11083	169	14	revenue	revenue	NOUN
fbem-11083	169	15	growth	growth	NOUN
fbem-11083	169	16	,	,	PUNCT
fbem-11083	169	17	increased	increase	VERB
fbem-11083	169	18	market	market	NOUN
fbem-11083	169	19	share	share	NOUN
fbem-11083	169	20	,	,	PUNCT
fbem-11083	169	21	improved	improve	VERB
fbem-11083	169	22	operational	operational	ADJ
fbem-11083	169	23	efficiency	efficiency	NOUN
fbem-11083	169	24	,	,	PUNCT
fbem-11083	169	25	or	or	CCONJ
fbem-11083	169	26	successful	successful	ADJ
fbem-11083	169	27	implementation	implementation	NOUN
fbem-11083	169	28	of	of	ADP
fbem-11083	169	29	strategic	strategic	ADJ
fbem-11083	169	30	initiatives	initiative	NOUN
fbem-11083	169	31	.	.	PUNCT
fbem-11083	170	1	conversely	conversely	ADV
fbem-11083	170	2	,	,	PUNCT
fbem-11083	170	3	a	a	DET
fbem-11083	170	4	lower	low	ADJ
fbem-11083	170	5	operating	operating	NOUN
fbem-11083	170	6	profit	profit	NOUN
fbem-11083	170	7	growth	growth	NOUN
fbem-11083	170	8	rate	rate	NOUN
fbem-11083	170	9	suggests	suggest	VERB
fbem-11083	170	10	challenges	challenge	NOUN
fbem-11083	170	11	or	or	CCONJ
fbem-11083	170	12	inefficiencies	inefficiency	NOUN
fbem-11083	170	13	in	in	ADP
fbem-11083	170	14	the	the	DET
fbem-11083	170	15	company	company	NOUN
fbem-11083	170	16	's	's	PART
fbem-11083	170	17	operations	operation	NOUN
fbem-11083	170	18	that	that	PRON
fbem-11083	170	19	need	need	VERB
fbem-11083	170	20	to	to	PART
fbem-11083	170	21	be	be	AUX
fbem-11083	170	22	addressed	address	VERB
fbem-11083	170	23	to	to	PART
fbem-11083	170	24	enhance	enhance	VERB
fbem-11083	170	25	profitability	profitability	NOUN
fbem-11083	170	26	.	.	PUNCT
fbem-11083	171	1	in	in	ADP
fbem-11083	171	2	the	the	DET
fbem-11083	171	3	context	context	NOUN
fbem-11083	171	4	of	of	ADP
fbem-11083	171	5	the	the	DET
fbem-11083	171	6	analysis	analysis	NOUN
fbem-11083	171	7	of	of	ADP
fbem-11083	171	8	guizhou	guizhou	PROPN
fbem-11083	171	9	maotai	maotai	PROPN
fbem-11083	171	10	and	and	CCONJ
fbem-11083	171	11	wuliangye	wuliangye	PROPN
fbem-11083	171	12	,	,	PUNCT
fbem-11083	171	13	their	their	PRON
fbem-11083	171	14	operating	operate	VERB
fbem-11083	171	15	profit	profit	NOUN
fbem-11083	171	16	growth	growth	NOUN
fbem-11083	171	17	rates	rate	NOUN
fbem-11083	171	18	have	have	AUX
fbem-11083	171	19	been	be	AUX
fbem-11083	171	20	studied	study	VERB
fbem-11083	171	21	over	over	ADP
fbem-11083	171	22	the	the	DET
fbem-11083	171	23	period	period	NOUN
fbem-11083	171	24	from	from	ADP
fbem-11083	171	25	2017	2017	NUM
fbem-11083	171	26	to	to	ADP
fbem-11083	171	27	2021	2021	NUM
fbem-11083	171	28	.	.	PUNCT
fbem-11083	172	1	guizhou	guizhou	PROPN
fbem-11083	172	2	maotai	maotai	PROPN
fbem-11083	172	3	's	's	PART
fbem-11083	172	4	operating	operate	VERB
fbem-11083	172	5	profit	profit	NOUN
fbem-11083	172	6	growth	growth	NOUN
fbem-11083	172	7	rate	rate	NOUN
fbem-11083	172	8	has	have	AUX
fbem-11083	172	9	shown	show	VERB
fbem-11083	172	10	a	a	DET
fbem-11083	172	11	declining	decline	VERB
fbem-11083	172	12	trend	trend	NOUN
fbem-11083	172	13	during	during	ADP
fbem-11083	172	14	this	this	DET
fbem-11083	172	15	period	period	NOUN
fbem-11083	172	16	,	,	PUNCT
fbem-11083	172	17	with	with	ADP
fbem-11083	172	18	relatively	relatively	ADV
fbem-11083	172	19	lower	low	ADJ
fbem-11083	172	20	growth	growth	NOUN
fbem-11083	172	21	rates	rate	NOUN
fbem-11083	172	22	in	in	ADP
fbem-11083	172	23	recent	recent	ADJ
fbem-11083	172	24	years	year	NOUN
fbem-11083	172	25	.	.	PUNCT
fbem-11083	173	1	the	the	DET
fbem-11083	173	2	decrease	decrease	NOUN
fbem-11083	173	3	in	in	ADP
fbem-11083	173	4	the	the	DET
fbem-11083	173	5	operating	operate	VERB
fbem-11083	173	6	profit	profit	NOUN
fbem-11083	173	7	growth	growth	NOUN
fbem-11083	173	8	rate	rate	NOUN
fbem-11083	173	9	can	can	AUX
fbem-11083	173	10	be	be	AUX
fbem-11083	173	11	attributed	attribute	VERB
fbem-11083	173	12	to	to	ADP
fbem-11083	173	13	factors	factor	NOUN
fbem-11083	173	14	specific	specific	ADJ
fbem-11083	173	15	to	to	ADP
fbem-11083	173	16	the	the	DET
fbem-11083	173	17	characteristics	characteristic	NOUN
fbem-11083	173	18	of	of	ADP
fbem-11083	173	19	maotai	maotai	NOUN
fbem-11083	173	20	liquor	liquor	NOUN
fbem-11083	173	21	production	production	NOUN
fbem-11083	173	22	,	,	PUNCT
fbem-11083	173	23	such	such	ADJ
fbem-11083	173	24	as	as	ADP
fbem-11083	173	25	the	the	DET
fbem-11083	173	26	time	time	NOUN
fbem-11083	173	27	-	-	PUNCT
fbem-11083	173	28	consuming	consume	VERB
fbem-11083	173	29	maturation	maturation	NOUN
fbem-11083	173	30	process	process	NOUN
fbem-11083	173	31	required	require	VERB
fbem-11083	173	32	for	for	ADP
fbem-11083	173	33	its	its	PRON
fbem-11083	173	34	products	product	NOUN
fbem-11083	173	35	.	.	PUNCT
fbem-11083	174	1	on	on	ADP
fbem-11083	174	2	the	the	DET
fbem-11083	174	3	other	other	ADJ
fbem-11083	174	4	hand	hand	NOUN
fbem-11083	174	5	,	,	PUNCT
fbem-11083	174	6	wuliangye	wuliangye	PROPN
fbem-11083	174	7	has	have	AUX
fbem-11083	174	8	also	also	ADV
fbem-11083	174	9	experienced	experience	VERB
fbem-11083	174	10	a	a	DET
fbem-11083	174	11	slight	slight	ADJ
fbem-11083	174	12	decline	decline	NOUN
fbem-11083	174	13	in	in	ADP
fbem-11083	174	14	its	its	PRON
fbem-11083	174	15	operating	operate	VERB
fbem-11083	174	16	profit	profit	NOUN
fbem-11083	174	17	growth	growth	NOUN
fbem-11083	174	18	rate	rate	NOUN
fbem-11083	174	19	,	,	PUNCT
fbem-11083	174	20	with	with	ADP
fbem-11083	174	21	fluctuations	fluctuation	NOUN
fbem-11083	174	22	in	in	ADP
fbem-11083	174	23	2020	2020	NUM
fbem-11083	174	24	primarily	primarily	ADV
fbem-11083	174	25	due	due	ADP
fbem-11083	174	26	to	to	ADP
fbem-11083	174	27	the	the	DET
fbem-11083	174	28	impact	impact	NOUN
fbem-11083	174	29	of	of	ADP
fbem-11083	174	30	the	the	DET
fbem-11083	174	31	covid-19	covid-19	PROPN
fbem-11083	174	32	pandemic	pandemic	NOUN
fbem-11083	174	33	.	.	PUNCT
fbem-11083	175	1	to	to	PART
fbem-11083	175	2	gain	gain	VERB
fbem-11083	175	3	a	a	DET
fbem-11083	175	4	comprehensive	comprehensive	ADJ
fbem-11083	175	5	understanding	understanding	NOUN
fbem-11083	175	6	of	of	ADP
fbem-11083	175	7	the	the	DET
fbem-11083	175	8	factors	factor	NOUN
fbem-11083	175	9	affecting	affect	VERB
fbem-11083	175	10	operating	operate	VERB
fbem-11083	175	11	profit	profit	NOUN
fbem-11083	175	12	growth	growth	NOUN
fbem-11083	175	13	rates	rate	NOUN
fbem-11083	175	14	,	,	PUNCT
fbem-11083	175	15	further	further	ADJ
fbem-11083	175	16	investigation	investigation	NOUN
fbem-11083	175	17	into	into	ADP
fbem-11083	175	18	the	the	DET
fbem-11083	175	19	financial	financial	ADJ
fbem-11083	175	20	reports	report	NOUN
fbem-11083	175	21	,	,	PUNCT
fbem-11083	175	22	market	market	NOUN
fbem-11083	175	23	conditions	condition	NOUN
fbem-11083	175	24	,	,	PUNCT
fbem-11083	175	25	industry	industry	NOUN
fbem-11083	175	26	trends	trend	NOUN
fbem-11083	175	27	,	,	PUNCT
fbem-11083	175	28	and	and	CCONJ
fbem-11083	175	29	business	business	NOUN
fbem-11083	175	30	strategies	strategy	NOUN
fbem-11083	175	31	of	of	ADP
fbem-11083	175	32	both	both	DET
fbem-11083	175	33	companies	company	NOUN
fbem-11083	175	34	would	would	AUX
fbem-11083	175	35	be	be	AUX
fbem-11083	175	36	necessary	necessary	ADJ
fbem-11083	175	37	.	.	PUNCT
fbem-11083	176	1	such	such	ADJ
fbem-11083	176	2	analysis	analysis	NOUN
fbem-11083	176	3	would	would	AUX
fbem-11083	176	4	contribute	contribute	VERB
fbem-11083	176	5	to	to	ADP
fbem-11083	176	6	a	a	DET
fbem-11083	176	7	more	more	ADJ
fbem-11083	176	8	in	in	ADP
fbem-11083	176	9	-	-	PUNCT
fbem-11083	176	10	depth	depth	NOUN
fbem-11083	176	11	assessment	assessment	NOUN
fbem-11083	176	12	of	of	ADP
fbem-11083	176	13	their	their	PRON
fbem-11083	176	14	development	development	NOUN
fbem-11083	176	15	capabilities	capability	NOUN
fbem-11083	176	16	and	and	CCONJ
fbem-11083	176	17	enable	enable	VERB
fbem-11083	176	18	stakeholders	stakeholder	NOUN
fbem-11083	176	19	to	to	PART
fbem-11083	176	20	make	make	VERB
fbem-11083	176	21	informed	informed	ADJ
fbem-11083	176	22	decisions	decision	NOUN
fbem-11083	176	23	regarding	regard	VERB
fbem-11083	176	24	their	their	PRON
fbem-11083	176	25	investment	investment	NOUN
fbem-11083	176	26	and	and	CCONJ
fbem-11083	176	27	business	business	NOUN
fbem-11083	176	28	prospects	prospect	NOUN
fbem-11083	176	29	.	.	PUNCT
fbem-11083	177	1	by	by	ADP
fbem-11083	177	2	adopting	adopt	VERB
fbem-11083	177	3	rigorous	rigorous	ADJ
fbem-11083	177	4	financial	financial	ADJ
fbem-11083	177	5	analysis	analysis	NOUN
fbem-11083	177	6	methodologies	methodology	NOUN
fbem-11083	177	7	,	,	PUNCT
fbem-11083	177	8	referencing	reference	VERB
fbem-11083	177	9	academic	academic	ADJ
fbem-11083	177	10	literature	literature	NOUN
fbem-11083	177	11	,	,	PUNCT
fbem-11083	177	12	and	and	CCONJ
fbem-11083	177	13	considering	consider	VERB
fbem-11083	177	14	the	the	DET
fbem-11083	177	15	broader	broad	ADJ
fbem-11083	177	16	business	business	NOUN
fbem-11083	177	17	environment	environment	NOUN
fbem-11083	177	18	,	,	PUNCT
fbem-11083	177	19	this	this	DET
fbem-11083	177	20	study	study	NOUN
fbem-11083	177	21	aims	aim	VERB
fbem-11083	177	22	to	to	PART
fbem-11083	177	23	provide	provide	VERB
fbem-11083	177	24	a	a	DET
fbem-11083	177	25	robust	robust	ADJ
fbem-11083	177	26	and	and	CCONJ
fbem-11083	177	27	objective	objective	ADJ
fbem-11083	177	28	evaluation	evaluation	NOUN
fbem-11083	177	29	of	of	ADP
fbem-11083	177	30	the	the	DET
fbem-11083	177	31	financial	financial	ADJ
fbem-11083	177	32	performance	performance	NOUN
fbem-11083	177	33	and	and	CCONJ
fbem-11083	177	34	development	development	NOUN
fbem-11083	177	35	potential	potential	NOUN
fbem-11083	177	36	of	of	ADP
fbem-11083	177	37	guizhou	guizhou	PROPN
fbem-11083	177	38	maotai	maotai	PROPN
fbem-11083	177	39	and	and	CCONJ
fbem-11083	177	40	wuliangye	wuliangye	NOUN
fbem-11083	177	41	.	.	PUNCT
fbem-11083	178	1	the	the	DET
fbem-11083	178	2	findings	finding	NOUN
fbem-11083	178	3	presented	present	VERB
fbem-11083	178	4	in	in	ADP
fbem-11083	178	5	this	this	DET
fbem-11083	178	6	analysis	analysis	NOUN
fbem-11083	178	7	can	can	AUX
fbem-11083	178	8	serve	serve	VERB
fbem-11083	178	9	as	as	ADP
fbem-11083	178	10	valuable	valuable	ADJ
fbem-11083	178	11	insights	insight	NOUN
fbem-11083	178	12	for	for	ADP
fbem-11083	178	13	investors	investor	NOUN
fbem-11083	178	14	,	,	PUNCT
fbem-11083	178	15	financial	financial	ADJ
fbem-11083	178	16	analysts	analyst	NOUN
fbem-11083	178	17	,	,	PUNCT
fbem-11083	178	18	and	and	CCONJ
fbem-11083	178	19	decision	decision	NOUN
fbem-11083	178	20	-	-	PUNCT
fbem-11083	178	21	makers	maker	NOUN
fbem-11083	178	22	in	in	ADP
fbem-11083	178	23	the	the	DET
fbem-11083	178	24	alcoholic	alcoholic	ADJ
fbem-11083	178	25	beverage	beverage	NOUN
fbem-11083	178	26	industry	industry	NOUN
fbem-11083	178	27	and	and	CCONJ
fbem-11083	178	28	related	related	ADJ
fbem-11083	178	29	sectors	sector	NOUN
fbem-11083	178	30	.	.	PUNCT
fbem-11083	179	1	table	table	NOUN
fbem-11083	179	2	2.4.2.1	2.4.2.1	NUM
fbem-11083	179	3	:	:	PUNCT
fbem-11083	179	4	guizhou	guizhou	NOUN
fbem-11083	179	5	maotai	maotai	NOUN
fbem-11083	179	6	operating	operate	VERB
fbem-11083	179	7	profit	profit	NOUN
fbem-11083	179	8	growth	growth	NOUN
fbem-11083	179	9	rate	rate	NOUN
fbem-11083	179	10	indicators	indicator	NOUN
fbem-11083	179	11	year	year	NOUN
fbem-11083	179	12	2017	2017	NUM
fbem-11083	179	13	2018	2018	NUM
fbem-11083	179	14	2019	2019	NUM
fbem-11083	179	15	2020	2020	NUM
fbem-11083	179	16	2021	2021	NUM
fbem-11083	179	17	index	index	NOUN
fbem-11083	179	18	60.47	60.47	NUM
fbem-11083	179	19	%	%	NOUN
fbem-11083	179	20	31.85	31.85	NUM
fbem-11083	179	21	%	%	NOUN
fbem-11083	179	22	14.99	14.99	NUM
fbem-11083	179	23	%	%	NOUN
fbem-11083	179	24	12.86	12.86	NUM
fbem-11083	179	25	%	%	NOUN
fbem-11083	179	26	12.18	12.18	NUM
fbem-11083	179	27	%	%	NOUN
fbem-11083	179	28	table	table	NOUN
fbem-11083	179	29	2.4.2.2	2.4.2.2	NUM
fbem-11083	179	30	:	:	PUNCT
fbem-11083	179	31	wuliangye	wuliangye	NOUN
fbem-11083	179	32	operating	operating	NOUN
fbem-11083	179	33	profit	profit	NOUN
fbem-11083	179	34	growth	growth	NOUN
fbem-11083	179	35	rate	rate	NOUN
fbem-11083	179	36	indicators	indicator	NOUN
fbem-11083	179	37	year	year	NOUN
fbem-11083	179	38	2017	2017	NUM
fbem-11083	180	1	2018	2018	NUM
fbem-11083	180	2	2019	2019	NUM
fbem-11083	180	3	2020	2020	NUM
fbem-11083	180	4	2021	2021	NUM
fbem-11083	180	5	index	index	NOUN
fbem-11083	180	6	44.79	44.79	NUM
fbem-11083	180	7	%	%	NOUN
fbem-11083	180	8	39.96	39.96	NUM
fbem-11083	180	9	%	%	NOUN
fbem-11083	180	10	29.53	29.53	NUM
fbem-11083	180	11	%	%	NOUN
fbem-11083	180	12	14.77	14.77	NUM
fbem-11083	180	13	%	%	NOUN
fbem-11083	180	14	16.98	16.98	NUM
fbem-11083	180	15	%	%	NOUN
fbem-11083	180	16	0.00	0.00	NUM
fbem-11083	180	17	%	%	NOUN
fbem-11083	180	18	10.00	10.00	NUM
fbem-11083	180	19	%	%	NOUN
fbem-11083	180	20	20.00	20.00	NUM
fbem-11083	180	21	%	%	NOUN
fbem-11083	180	22	30.00	30.00	NUM
fbem-11083	180	23	%	%	NOUN
fbem-11083	180	24	40.00	40.00	NUM
fbem-11083	180	25	%	%	NOUN
fbem-11083	180	26	50.00	50.00	NUM
fbem-11083	180	27	%	%	NOUN
fbem-11083	180	28	60.00	60.00	NUM
fbem-11083	180	29	%	%	NOUN
fbem-11083	180	30	2017	2017	NUM
fbem-11083	180	31	2018	2018	NUM
fbem-11083	180	32	2019	2019	NUM
fbem-11083	180	33	2020	2020	NUM
fbem-11083	180	34	2021	2021	NUM
fbem-11083	180	35	revenue	revenue	NOUN
fbem-11083	180	36	growth	growth	NOUN
fbem-11083	180	37	rate	rate	NOUN
fbem-11083	180	38	guizhou	guizhou	PROPN
fbem-11083	180	39	maotai	maotai	PROPN
fbem-11083	180	40	revenue	revenue	NOUN
fbem-11083	180	41	growth	growth	PROPN
fbem-11083	180	42	rate（%	rate（%	NOUN
fbem-11083	180	43	）	）	X
fbem-11083	180	44	wuliangye	wuliangye	VERB
fbem-11083	180	45	revenue	revenue	NOUN
fbem-11083	180	46	growth	growth	NOUN
fbem-11083	180	47	rate(%	rate(%	NOUN
fbem-11083	180	48	)	)	PUNCT
fbem-11083	180	49	392	392	NUM
fbem-11083	180	50	data	datum	NOUN
fbem-11083	180	51	source	source	NOUN
fbem-11083	180	52	:	:	PUNCT
fbem-11083	180	53	csmar	csmar	PROPN
fbem-11083	180	54	figure	figure	NOUN
fbem-11083	180	55	2.4.2	2.4.2	NUM
fbem-11083	180	56	trend	trend	NOUN
fbem-11083	180	57	of	of	ADP
fbem-11083	180	58	operating	operate	VERB
fbem-11083	180	59	profit	profit	NOUN
fbem-11083	180	60	growth	growth	NOUN
fbem-11083	180	61	rate	rate	NOUN
fbem-11083	180	62	2.4.3	2.4.3	X
fbem-11083	180	63	.	.	PUNCT
fbem-11083	181	1	total	total	ADJ
fbem-11083	181	2	asset	asset	NOUN
fbem-11083	181	3	growth	growth	NOUN
fbem-11083	181	4	rate	rate	NOUN
fbem-11083	181	5	analysis	analysis	NOUN
fbem-11083	181	6	the	the	DET
fbem-11083	181	7	total	total	ADJ
fbem-11083	181	8	asset	asset	NOUN
fbem-11083	181	9	growth	growth	NOUN
fbem-11083	181	10	rate	rate	NOUN
fbem-11083	181	11	is	be	AUX
fbem-11083	181	12	calculated	calculate	VERB
fbem-11083	181	13	using	use	VERB
fbem-11083	181	14	the	the	DET
fbem-11083	181	15	formula	formula	NOUN
fbem-11083	181	16	:	:	PUNCT
fbem-11083	181	17	total	total	ADJ
fbem-11083	181	18	asset	asset	NOUN
fbem-11083	181	19	growth	growth	NOUN
fbem-11083	181	20	rate	rate	NOUN
fbem-11083	181	21	=	=	PUNCT
fbem-11083	181	22	(	(	PUNCT
fbem-11083	181	23	total	total	ADJ
fbem-11083	181	24	assets	asset	NOUN
fbem-11083	181	25	at	at	ADP
fbem-11083	181	26	the	the	DET
fbem-11083	181	27	end	end	NOUN
fbem-11083	181	28	of	of	ADP
fbem-11083	181	29	the	the	DET
fbem-11083	181	30	current	current	ADJ
fbem-11083	181	31	period	period	NOUN
fbem-11083	181	32	/	/	SYM
fbem-11083	181	33	total	total	ADJ
fbem-11083	181	34	assets	asset	NOUN
fbem-11083	181	35	at	at	ADP
fbem-11083	181	36	the	the	DET
fbem-11083	181	37	end	end	NOUN
fbem-11083	181	38	of	of	ADP
fbem-11083	181	39	the	the	DET
fbem-11083	181	40	previous	previous	ADJ
fbem-11083	181	41	period	period	NOUN
fbem-11083	181	42	)	)	PUNCT
fbem-11083	181	43	1	1	NUM
fbem-11083	181	44	the	the	DET
fbem-11083	181	45	total	total	ADJ
fbem-11083	181	46	asset	asset	NOUN
fbem-11083	181	47	growth	growth	NOUN
fbem-11083	181	48	rate	rate	NOUN
fbem-11083	181	49	reflects	reflect	VERB
fbem-11083	181	50	the	the	DET
fbem-11083	181	51	changes	change	NOUN
fbem-11083	181	52	in	in	ADP
fbem-11083	181	53	a	a	DET
fbem-11083	181	54	company	company	NOUN
fbem-11083	181	55	's	's	PART
fbem-11083	181	56	total	total	ADJ
fbem-11083	181	57	assets	asset	NOUN
fbem-11083	181	58	over	over	ADP
fbem-11083	181	59	a	a	DET
fbem-11083	181	60	specific	specific	ADJ
fbem-11083	181	61	period	period	NOUN
fbem-11083	181	62	and	and	CCONJ
fbem-11083	181	63	provides	provide	VERB
fbem-11083	181	64	timely	timely	ADJ
fbem-11083	181	65	feedback	feedback	NOUN
fbem-11083	181	66	on	on	ADP
fbem-11083	181	67	changes	change	NOUN
fbem-11083	181	68	in	in	ADP
fbem-11083	181	69	its	its	PRON
fbem-11083	181	70	business	business	NOUN
fbem-11083	181	71	strategies	strategy	NOUN
fbem-11083	181	72	.	.	PUNCT
fbem-11083	182	1	a	a	DET
fbem-11083	182	2	higher	high	ADJ
fbem-11083	182	3	total	total	ADJ
fbem-11083	182	4	asset	asset	NOUN
fbem-11083	182	5	growth	growth	NOUN
fbem-11083	182	6	rate	rate	NOUN
fbem-11083	182	7	indicates	indicate	VERB
fbem-11083	182	8	a	a	DET
fbem-11083	182	9	faster	fast	ADJ
fbem-11083	182	10	expansion	expansion	NOUN
fbem-11083	182	11	of	of	ADP
fbem-11083	182	12	the	the	DET
fbem-11083	182	13	company	company	NOUN
fbem-11083	182	14	's	's	PART
fbem-11083	182	15	asset	asset	NOUN
fbem-11083	182	16	base	base	NOUN
fbem-11083	182	17	during	during	ADP
fbem-11083	182	18	the	the	DET
fbem-11083	182	19	given	give	VERB
fbem-11083	182	20	period	period	NOUN
fbem-11083	182	21	.	.	PUNCT
fbem-11083	183	1	based	base	VERB
fbem-11083	183	2	on	on	ADP
fbem-11083	183	3	the	the	DET
fbem-11083	183	4	comparison	comparison	NOUN
fbem-11083	183	5	of	of	ADP
fbem-11083	183	6	the	the	DET
fbem-11083	183	7	graphs	graph	NOUN
fbem-11083	183	8	and	and	CCONJ
fbem-11083	183	9	charts	chart	NOUN
fbem-11083	183	10	,	,	PUNCT
fbem-11083	183	11	it	it	PRON
fbem-11083	183	12	is	be	AUX
fbem-11083	183	13	evident	evident	ADJ
fbem-11083	183	14	that	that	SCONJ
fbem-11083	183	15	guizhou	guizhou	PROPN
fbem-11083	183	16	maotai	maotai	PROPN
fbem-11083	183	17	's	's	PART
fbem-11083	183	18	total	total	ADJ
fbem-11083	183	19	asset	asset	NOUN
fbem-11083	183	20	growth	growth	NOUN
fbem-11083	183	21	rate	rate	NOUN
fbem-11083	183	22	is	be	AUX
fbem-11083	183	23	more	more	ADV
fbem-11083	183	24	stable	stable	ADJ
fbem-11083	183	25	compared	compare	VERB
fbem-11083	183	26	to	to	ADP
fbem-11083	183	27	that	that	PRON
fbem-11083	183	28	of	of	ADP
fbem-11083	183	29	wuliangye	wuliangye	NOUN
fbem-11083	183	30	.	.	PUNCT
fbem-11083	184	1	in	in	ADP
fbem-11083	184	2	2020	2020	NUM
fbem-11083	184	3	,	,	PUNCT
fbem-11083	184	4	wuliangye	wuliangye	PROPN
fbem-11083	184	5	's	's	PART
fbem-11083	184	6	total	total	ADJ
fbem-11083	184	7	asset	asset	NOUN
fbem-11083	184	8	growth	growth	NOUN
fbem-11083	184	9	rate	rate	NOUN
fbem-11083	184	10	declined	decline	VERB
fbem-11083	184	11	to	to	ADP
fbem-11083	184	12	7.05	7.05	NUM
fbem-11083	184	13	%	%	NOUN
fbem-11083	184	14	due	due	ADP
fbem-11083	184	15	to	to	ADP
fbem-11083	184	16	the	the	DET
fbem-11083	184	17	impact	impact	NOUN
fbem-11083	184	18	of	of	ADP
fbem-11083	184	19	the	the	DET
fbem-11083	184	20	covid-19	covid-19	PROPN
fbem-11083	184	21	pandemic	pandemic	NOUN
fbem-11083	184	22	,	,	PUNCT
fbem-11083	184	23	while	while	SCONJ
fbem-11083	184	24	guizhou	guizhou	PROPN
fbem-11083	184	25	maotai	maotai	PROPN
fbem-11083	184	26	's	's	PART
fbem-11083	184	27	total	total	ADJ
fbem-11083	184	28	asset	asset	NOUN
fbem-11083	184	29	growth	growth	NOUN
fbem-11083	184	30	rate	rate	NOUN
fbem-11083	184	31	remained	remain	VERB
fbem-11083	184	32	relatively	relatively	ADV
fbem-11083	184	33	stable	stable	ADJ
fbem-11083	184	34	.	.	PUNCT
fbem-11083	185	1	this	this	PRON
fbem-11083	185	2	can	can	AUX
fbem-11083	185	3	be	be	AUX
fbem-11083	185	4	attributed	attribute	VERB
fbem-11083	185	5	to	to	ADP
fbem-11083	185	6	guizhou	guizhou	PROPN
fbem-11083	185	7	maotai	maotai	PROPN
fbem-11083	185	8	's	's	PART
fbem-11083	185	9	larger	large	ADJ
fbem-11083	185	10	scale	scale	NOUN
fbem-11083	185	11	and	and	CCONJ
fbem-11083	185	12	stronger	strong	ADJ
fbem-11083	185	13	resilience	resilience	NOUN
fbem-11083	185	14	,	,	PUNCT
fbem-11083	185	15	which	which	PRON
fbem-11083	185	16	allowed	allow	VERB
fbem-11083	185	17	it	it	PRON
fbem-11083	185	18	to	to	PART
fbem-11083	185	19	better	well	ADV
fbem-11083	185	20	withstand	withstand	VERB
fbem-11083	185	21	the	the	DET
fbem-11083	185	22	pressures	pressure	NOUN
fbem-11083	185	23	brought	bring	VERB
fbem-11083	185	24	about	about	ADP
fbem-11083	185	25	by	by	ADP
fbem-11083	185	26	external	external	ADJ
fbem-11083	185	27	challenges	challenge	NOUN
fbem-11083	185	28	.	.	PUNCT
fbem-11083	186	1	analyzing	analyze	VERB
fbem-11083	186	2	the	the	DET
fbem-11083	186	3	total	total	ADJ
fbem-11083	186	4	asset	asset	NOUN
fbem-11083	186	5	growth	growth	NOUN
fbem-11083	186	6	rate	rate	NOUN
fbem-11083	186	7	of	of	ADP
fbem-11083	186	8	both	both	DET
fbem-11083	186	9	companies	company	NOUN
fbem-11083	186	10	is	be	AUX
fbem-11083	186	11	essential	essential	ADJ
fbem-11083	186	12	in	in	ADP
fbem-11083	186	13	understanding	understand	VERB
fbem-11083	186	14	their	their	PRON
fbem-11083	186	15	expansion	expansion	NOUN
fbem-11083	186	16	strategies	strategy	NOUN
fbem-11083	186	17	and	and	CCONJ
fbem-11083	186	18	financial	financial	ADJ
fbem-11083	186	19	performance	performance	NOUN
fbem-11083	186	20	.	.	PUNCT
fbem-11083	187	1	while	while	SCONJ
fbem-11083	187	2	guizhou	guizhou	PROPN
fbem-11083	187	3	maotai	maotai	PROPN
fbem-11083	187	4	's	's	PART
fbem-11083	187	5	stable	stable	ADJ
fbem-11083	187	6	growth	growth	NOUN
fbem-11083	187	7	rate	rate	NOUN
fbem-11083	187	8	may	may	AUX
fbem-11083	187	9	indicate	indicate	VERB
fbem-11083	187	10	a	a	DET
fbem-11083	187	11	more	more	ADV
fbem-11083	187	12	cautious	cautious	ADJ
fbem-11083	187	13	and	and	CCONJ
fbem-11083	187	14	sustainable	sustainable	ADJ
fbem-11083	187	15	approach	approach	NOUN
fbem-11083	187	16	to	to	ADP
fbem-11083	187	17	business	business	NOUN
fbem-11083	187	18	development	development	NOUN
fbem-11083	187	19	,	,	PUNCT
fbem-11083	187	20	wuliangye	wuliangye	PROPN
fbem-11083	187	21	's	's	PART
fbem-11083	187	22	fluctuating	fluctuate	VERB
fbem-11083	187	23	growth	growth	NOUN
fbem-11083	187	24	rate	rate	NOUN
fbem-11083	187	25	could	could	AUX
fbem-11083	187	26	be	be	AUX
fbem-11083	187	27	indicative	indicative	ADJ
fbem-11083	187	28	of	of	ADP
fbem-11083	187	29	a	a	DET
fbem-11083	187	30	more	more	ADV
fbem-11083	187	31	dynamic	dynamic	ADJ
fbem-11083	187	32	business	business	NOUN
fbem-11083	187	33	strategy	strategy	NOUN
fbem-11083	187	34	.	.	PUNCT
fbem-11083	188	1	further	further	ADJ
fbem-11083	188	2	analysis	analysis	NOUN
fbem-11083	188	3	and	and	CCONJ
fbem-11083	188	4	examination	examination	NOUN
fbem-11083	188	5	of	of	ADP
fbem-11083	188	6	the	the	DET
fbem-11083	188	7	companies	company	NOUN
fbem-11083	188	8	'	'	PART
fbem-11083	188	9	financial	financial	ADJ
fbem-11083	188	10	reports	report	NOUN
fbem-11083	188	11	and	and	CCONJ
fbem-11083	188	12	strategic	strategic	ADJ
fbem-11083	188	13	decisions	decision	NOUN
fbem-11083	188	14	are	be	AUX
fbem-11083	188	15	needed	need	VERB
fbem-11083	188	16	to	to	PART
fbem-11083	188	17	gain	gain	VERB
fbem-11083	188	18	deeper	deep	ADJ
fbem-11083	188	19	insights	insight	NOUN
fbem-11083	188	20	into	into	ADP
fbem-11083	188	21	their	their	PRON
fbem-11083	188	22	total	total	ADJ
fbem-11083	188	23	asset	asset	NOUN
fbem-11083	188	24	growth	growth	NOUN
fbem-11083	188	25	and	and	CCONJ
fbem-11083	188	26	long	long	ADJ
fbem-11083	188	27	-	-	PUNCT
fbem-11083	188	28	term	term	NOUN
fbem-11083	188	29	development	development	NOUN
fbem-11083	188	30	potential	potential	NOUN
fbem-11083	188	31	.	.	PUNCT
fbem-11083	189	1	table	table	NOUN
fbem-11083	189	2	2.4.3.1	2.4.3.1	NUM
fbem-11083	189	3	:	:	PUNCT
fbem-11083	189	4	guizhou	guizhou	PROPN
fbem-11083	189	5	maotai	maotai	PROPN
fbem-11083	189	6	total	total	ADJ
fbem-11083	189	7	asset	asset	NOUN
fbem-11083	189	8	growth	growth	NOUN
fbem-11083	189	9	rate	rate	NOUN
fbem-11083	189	10	indicators	indicator	NOUN
fbem-11083	189	11	year	year	NOUN
fbem-11083	189	12	2017	2017	NUM
fbem-11083	189	13	2018	2018	NUM
fbem-11083	189	14	2019	2019	NUM
fbem-11083	189	15	2020	2020	NUM
fbem-11083	189	16	2021	2021	NUM
fbem-11083	189	17	index	index	NOUN
fbem-11083	189	18	19.19	19.19	NUM
fbem-11083	189	19	%	%	NOUN
fbem-11083	189	20	18.75	18.75	NUM
fbem-11083	189	21	%	%	NOUN
fbem-11083	189	22	14.51	14.51	NUM
fbem-11083	189	23	%	%	NOUN
fbem-11083	189	24	16.58	16.58	NUM
fbem-11083	189	25	%	%	NOUN
fbem-11083	189	26	19.58	19.58	NUM
fbem-11083	189	27	%	%	NOUN
fbem-11083	189	28	table	table	NOUN
fbem-11083	189	29	2.4.3.2	2.4.3.2	NUM
fbem-11083	189	30	:	:	PUNCT
fbem-11083	189	31	wuliangye	wuliangye	VERB
fbem-11083	189	32	total	total	ADJ
fbem-11083	189	33	asset	asset	NOUN
fbem-11083	189	34	growth	growth	NOUN
fbem-11083	189	35	rate	rate	NOUN
fbem-11083	189	36	indicators	indicator	NOUN
fbem-11083	189	37	year	year	NOUN
fbem-11083	189	38	2017	2017	NUM
fbem-11083	189	39	2018	2018	NUM
fbem-11083	189	40	2019	2019	NUM
fbem-11083	189	41	2020	2020	NUM
fbem-11083	189	42	2021	2021	NUM
fbem-11083	189	43	index	index	NOUN
fbem-11083	189	44	14.07	14.07	NUM
fbem-11083	189	45	%	%	NOUN
fbem-11083	189	46	21.39	21.39	NUM
fbem-11083	189	47	%	%	NOUN
fbem-11083	189	48	23.58	23.58	NUM
fbem-11083	189	49	%	%	NOUN
fbem-11083	189	50	7.05	7.05	NUM
fbem-11083	189	51	%	%	NOUN
fbem-11083	189	52	19.08	19.08	NUM
fbem-11083	189	53	%	%	NOUN
fbem-11083	189	54	0.00	0.00	NUM
fbem-11083	189	55	%	%	NOUN
fbem-11083	189	56	10.00	10.00	NUM
fbem-11083	189	57	%	%	NOUN
fbem-11083	189	58	20.00	20.00	NUM
fbem-11083	189	59	%	%	NOUN
fbem-11083	189	60	30.00	30.00	NUM
fbem-11083	189	61	%	%	NOUN
fbem-11083	189	62	40.00	40.00	NUM
fbem-11083	189	63	%	%	NOUN
fbem-11083	189	64	50.00	50.00	NUM
fbem-11083	189	65	%	%	NOUN
fbem-11083	189	66	60.00	60.00	NUM
fbem-11083	189	67	%	%	NOUN
fbem-11083	189	68	70.00	70.00	NUM
fbem-11083	189	69	%	%	NOUN
fbem-11083	189	70	2017	2017	NUM
fbem-11083	189	71	2018	2018	NUM
fbem-11083	189	72	2019	2019	NUM
fbem-11083	189	73	2020	2020	NUM
fbem-11083	189	74	2021	2021	NUM
fbem-11083	189	75	operating	operating	NOUN
fbem-11083	189	76	profit	profit	NOUN
fbem-11083	189	77	growth	growth	NOUN
fbem-11083	189	78	rate	rate	NOUN
fbem-11083	189	79	guizhou	guizhou	PROPN
fbem-11083	189	80	maotai	maotai	PROPN
fbem-11083	189	81	operating	operate	VERB
fbem-11083	189	82	profit	profit	NOUN
fbem-11083	189	83	growth	growth	NOUN
fbem-11083	189	84	rate（%	rate（%	NOUN
fbem-11083	189	85	）	）	X
fbem-11083	189	86	wuliangye	wuliangye	VERB
fbem-11083	189	87	operating	operating	NOUN
fbem-11083	189	88	profit	profit	NOUN
fbem-11083	189	89	growth	growth	NOUN
fbem-11083	189	90	rate（%	rate（%	NOUN
fbem-11083	189	91	）	）	NOUN
fbem-11083	189	92	393	393	NUM
fbem-11083	189	93	data	datum	NOUN
fbem-11083	189	94	source	source	NOUN
fbem-11083	189	95	:	:	PUNCT
fbem-11083	189	96	csmar	csmar	PROPN
fbem-11083	189	97	figure	figure	VERB
fbem-11083	189	98	2.4.3	2.4.3	NUM
fbem-11083	189	99	trend	trend	NOUN
fbem-11083	189	100	of	of	ADP
fbem-11083	189	101	total	total	ADJ
fbem-11083	189	102	asset	asset	NOUN
fbem-11083	189	103	growth	growth	NOUN
fbem-11083	189	104	rate	rate	NOUN
fbem-11083	189	105	2.4.4	2.4.4	NUM
fbem-11083	189	106	.	.	PUNCT
fbem-11083	190	1	capital	capital	NOUN
fbem-11083	190	2	accumulation	accumulation	NOUN
fbem-11083	190	3	rate	rate	NOUN
fbem-11083	190	4	analysis	analysis	NOUN
fbem-11083	190	5	the	the	DET
fbem-11083	190	6	capital	capital	NOUN
fbem-11083	190	7	accumulation	accumulation	NOUN
fbem-11083	190	8	rate	rate	NOUN
fbem-11083	190	9	is	be	AUX
fbem-11083	190	10	a	a	DET
fbem-11083	190	11	key	key	ADJ
fbem-11083	190	12	financial	financial	ADJ
fbem-11083	190	13	indicator	indicator	NOUN
fbem-11083	190	14	that	that	PRON
fbem-11083	190	15	measures	measure	VERB
fbem-11083	190	16	the	the	DET
fbem-11083	190	17	rate	rate	NOUN
fbem-11083	190	18	of	of	ADP
fbem-11083	190	19	growth	growth	NOUN
fbem-11083	190	20	in	in	ADP
fbem-11083	190	21	a	a	DET
fbem-11083	190	22	company	company	NOUN
fbem-11083	190	23	's	's	PART
fbem-11083	190	24	owner	owner	NOUN
fbem-11083	190	25	's	's	PART
fbem-11083	190	26	equity	equity	NOUN
fbem-11083	190	27	over	over	ADP
fbem-11083	190	28	a	a	DET
fbem-11083	190	29	specific	specific	ADJ
fbem-11083	190	30	period	period	NOUN
fbem-11083	190	31	.	.	PUNCT
fbem-11083	191	1	it	it	PRON
fbem-11083	191	2	reflects	reflect	VERB
fbem-11083	191	3	the	the	DET
fbem-11083	191	4	changes	change	NOUN
fbem-11083	191	5	in	in	ADP
fbem-11083	191	6	the	the	DET
fbem-11083	191	7	equity	equity	NOUN
fbem-11083	191	8	base	base	NOUN
fbem-11083	191	9	and	and	CCONJ
fbem-11083	191	10	signifies	signify	VERB
fbem-11083	191	11	the	the	DET
fbem-11083	191	12	level	level	NOUN
fbem-11083	191	13	of	of	ADP
fbem-11083	191	14	capital	capital	NOUN
fbem-11083	191	15	accumulation	accumulation	NOUN
fbem-11083	191	16	within	within	ADP
fbem-11083	191	17	the	the	DET
fbem-11083	191	18	enterprise	enterprise	NOUN
fbem-11083	191	19	.	.	PUNCT
fbem-11083	192	1	as	as	ADP
fbem-11083	192	2	an	an	DET
fbem-11083	192	3	essential	essential	ADJ
fbem-11083	192	4	aspect	aspect	NOUN
fbem-11083	192	5	of	of	ADP
fbem-11083	192	6	financial	financial	ADJ
fbem-11083	192	7	analysis	analysis	NOUN
fbem-11083	192	8	,	,	PUNCT
fbem-11083	192	9	the	the	DET
fbem-11083	192	10	capital	capital	NOUN
fbem-11083	192	11	accumulation	accumulation	NOUN
fbem-11083	192	12	rate	rate	NOUN
fbem-11083	192	13	offers	offer	VERB
fbem-11083	192	14	insights	insight	NOUN
fbem-11083	192	15	into	into	ADP
fbem-11083	192	16	a	a	DET
fbem-11083	192	17	company	company	NOUN
fbem-11083	192	18	's	's	PART
fbem-11083	192	19	financial	financial	ADJ
fbem-11083	192	20	health	health	NOUN
fbem-11083	192	21	,	,	PUNCT
fbem-11083	192	22	expansion	expansion	NOUN
fbem-11083	192	23	potential	potential	NOUN
fbem-11083	192	24	,	,	PUNCT
fbem-11083	192	25	and	and	CCONJ
fbem-11083	192	26	ability	ability	NOUN
fbem-11083	192	27	to	to	PART
fbem-11083	192	28	sustain	sustain	VERB
fbem-11083	192	29	long	long	ADJ
fbem-11083	192	30	-	-	PUNCT
fbem-11083	192	31	term	term	NOUN
fbem-11083	192	32	growth	growth	NOUN
fbem-11083	192	33	.	.	PUNCT
fbem-11083	193	1	the	the	DET
fbem-11083	193	2	formula	formula	NOUN
fbem-11083	193	3	for	for	ADP
fbem-11083	193	4	calculating	calculate	VERB
fbem-11083	193	5	the	the	DET
fbem-11083	193	6	capital	capital	NOUN
fbem-11083	193	7	accumulation	accumulation	NOUN
fbem-11083	193	8	rate	rate	NOUN
fbem-11083	193	9	is	be	AUX
fbem-11083	193	10	as	as	SCONJ
fbem-11083	193	11	follows	follow	VERB
fbem-11083	193	12	:	:	PUNCT
fbem-11083	193	13	capital	capital	NOUN
fbem-11083	193	14	accumulation	accumulation	NOUN
fbem-11083	193	15	rate	rate	NOUN
fbem-11083	193	16	=	=	SYM
fbem-11083	193	17	(	(	PUNCT
fbem-11083	193	18	(	(	PUNCT
fbem-11083	193	19	current	current	ADJ
fbem-11083	193	20	period	period	NOUN
fbem-11083	193	21	owner	owner	NOUN
fbem-11083	193	22	's	's	PART
fbem-11083	193	23	equity	equity	NOUN
fbem-11083	193	24	previous	previous	ADJ
fbem-11083	193	25	period	period	NOUN
fbem-11083	193	26	owner	owner	NOUN
fbem-11083	193	27	's	's	PART
fbem-11083	193	28	equity	equity	NOUN
fbem-11083	193	29	)	)	PUNCT
fbem-11083	193	30	/	/	SYM
fbem-11083	193	31	previous	previous	ADJ
fbem-11083	193	32	period	period	NOUN
fbem-11083	193	33	owner	owner	NOUN
fbem-11083	193	34	's	's	PART
fbem-11083	193	35	equity	equity	NOUN
fbem-11083	193	36	)	)	PUNCT
fbem-11083	193	37	*	*	PUNCT
fbem-11083	194	1	100	100	NUM
fbem-11083	194	2	%	%	NOUN
fbem-11083	194	3	a	a	DET
fbem-11083	194	4	higher	high	ADJ
fbem-11083	194	5	capital	capital	NOUN
fbem-11083	194	6	accumulation	accumulation	NOUN
fbem-11083	194	7	rate	rate	NOUN
fbem-11083	194	8	indicates	indicate	VERB
fbem-11083	194	9	greater	great	ADJ
fbem-11083	194	10	capital	capital	NOUN
fbem-11083	194	11	accumulation	accumulation	NOUN
fbem-11083	194	12	and	and	CCONJ
fbem-11083	194	13	financial	financial	ADJ
fbem-11083	194	14	strength	strength	NOUN
fbem-11083	194	15	.	.	PUNCT
fbem-11083	195	1	it	it	PRON
fbem-11083	195	2	suggests	suggest	VERB
fbem-11083	195	3	that	that	SCONJ
fbem-11083	195	4	the	the	DET
fbem-11083	195	5	company	company	NOUN
fbem-11083	195	6	has	have	AUX
fbem-11083	195	7	been	be	AUX
fbem-11083	195	8	successful	successful	ADJ
fbem-11083	195	9	in	in	ADP
fbem-11083	195	10	generating	generate	VERB
fbem-11083	195	11	profits	profit	NOUN
fbem-11083	195	12	,	,	PUNCT
fbem-11083	195	13	retaining	retain	VERB
fbem-11083	195	14	earnings	earning	NOUN
fbem-11083	195	15	,	,	PUNCT
fbem-11083	195	16	and	and	CCONJ
fbem-11083	195	17	reinvesting	reinveste	VERB
fbem-11083	195	18	in	in	ADP
fbem-11083	195	19	its	its	PRON
fbem-11083	195	20	core	core	NOUN
fbem-11083	195	21	business	business	NOUN
fbem-11083	195	22	.	.	PUNCT
fbem-11083	196	1	on	on	ADP
fbem-11083	196	2	the	the	DET
fbem-11083	196	3	other	other	ADJ
fbem-11083	196	4	hand	hand	NOUN
fbem-11083	196	5	,	,	PUNCT
fbem-11083	196	6	a	a	DET
fbem-11083	196	7	declining	decline	VERB
fbem-11083	196	8	capital	capital	NOUN
fbem-11083	196	9	accumulation	accumulation	NOUN
fbem-11083	196	10	rate	rate	NOUN
fbem-11083	196	11	may	may	AUX
fbem-11083	196	12	raise	raise	VERB
fbem-11083	196	13	concerns	concern	NOUN
fbem-11083	196	14	about	about	ADP
fbem-11083	196	15	the	the	DET
fbem-11083	196	16	company	company	NOUN
fbem-11083	196	17	's	's	PART
fbem-11083	196	18	financial	financial	ADJ
fbem-11083	196	19	performance	performance	NOUN
fbem-11083	196	20	,	,	PUNCT
fbem-11083	196	21	its	its	PRON
fbem-11083	196	22	ability	ability	NOUN
fbem-11083	196	23	to	to	PART
fbem-11083	196	24	reinvest	reinvest	VERB
fbem-11083	196	25	in	in	ADP
fbem-11083	196	26	growth	growth	NOUN
fbem-11083	196	27	opportunities	opportunity	NOUN
fbem-11083	196	28	,	,	PUNCT
fbem-11083	196	29	and	and	CCONJ
fbem-11083	196	30	potential	potential	ADJ
fbem-11083	196	31	risks	risk	NOUN
fbem-11083	196	32	associated	associate	VERB
fbem-11083	196	33	with	with	ADP
fbem-11083	196	34	capital	capital	NOUN
fbem-11083	196	35	preservation	preservation	NOUN
fbem-11083	196	36	.	.	PUNCT
fbem-11083	197	1	analyzing	analyze	VERB
fbem-11083	197	2	the	the	DET
fbem-11083	197	3	capital	capital	NOUN
fbem-11083	197	4	accumulation	accumulation	NOUN
fbem-11083	197	5	rate	rate	NOUN
fbem-11083	197	6	for	for	ADP
fbem-11083	197	7	both	both	DET
fbem-11083	197	8	guizhou	guizhou	PROPN
fbem-11083	197	9	maotai	maotai	PROPN
fbem-11083	197	10	and	and	CCONJ
fbem-11083	197	11	wuliangye	wuliangye	NOUN
fbem-11083	197	12	provides	provide	VERB
fbem-11083	197	13	valuable	valuable	ADJ
fbem-11083	197	14	insights	insight	NOUN
fbem-11083	197	15	into	into	ADP
fbem-11083	197	16	their	their	PRON
fbem-11083	197	17	respective	respective	ADJ
fbem-11083	197	18	financial	financial	ADJ
fbem-11083	197	19	strategies	strategy	NOUN
fbem-11083	197	20	and	and	CCONJ
fbem-11083	197	21	growth	growth	NOUN
fbem-11083	197	22	trajectories	trajectory	NOUN
fbem-11083	197	23	.	.	PUNCT
fbem-11083	198	1	the	the	DET
fbem-11083	198	2	declining	decline	VERB
fbem-11083	198	3	trend	trend	NOUN
fbem-11083	198	4	in	in	ADP
fbem-11083	198	5	guizhou	guizhou	PROPN
fbem-11083	198	6	maotai	maotai	PROPN
fbem-11083	198	7	's	's	PART
fbem-11083	198	8	capital	capital	NOUN
fbem-11083	198	9	accumulation	accumulation	NOUN
fbem-11083	198	10	rate	rate	NOUN
fbem-11083	198	11	over	over	ADP
fbem-11083	198	12	the	the	DET
fbem-11083	198	13	years	year	NOUN
fbem-11083	198	14	may	may	AUX
fbem-11083	198	15	be	be	AUX
fbem-11083	198	16	attributed	attribute	VERB
fbem-11083	198	17	to	to	ADP
fbem-11083	198	18	its	its	PRON
fbem-11083	198	19	well	well	ADV
fbem-11083	198	20	-	-	PUNCT
fbem-11083	198	21	established	establish	VERB
fbem-11083	198	22	position	position	NOUN
fbem-11083	198	23	in	in	ADP
fbem-11083	198	24	the	the	DET
fbem-11083	198	25	market	market	NOUN
fbem-11083	198	26	and	and	CCONJ
fbem-11083	198	27	a	a	DET
fbem-11083	198	28	more	more	ADV
fbem-11083	198	29	conservative	conservative	ADJ
fbem-11083	198	30	approach	approach	NOUN
fbem-11083	198	31	to	to	ADP
fbem-11083	198	32	expansion	expansion	NOUN
fbem-11083	198	33	.	.	PUNCT
fbem-11083	199	1	in	in	ADP
fbem-11083	199	2	contrast	contrast	NOUN
fbem-11083	199	3	,	,	PUNCT
fbem-11083	199	4	wuliangye	wuliangye	PROPN
fbem-11083	199	5	's	's	PART
fbem-11083	199	6	fluctuating	fluctuate	VERB
fbem-11083	199	7	capital	capital	NOUN
fbem-11083	199	8	accumulation	accumulation	NOUN
fbem-11083	199	9	rate	rate	NOUN
fbem-11083	199	10	could	could	AUX
fbem-11083	199	11	be	be	AUX
fbem-11083	199	12	indicative	indicative	ADJ
fbem-11083	199	13	of	of	ADP
fbem-11083	199	14	a	a	DET
fbem-11083	199	15	more	more	ADV
fbem-11083	199	16	dynamic	dynamic	ADJ
fbem-11083	199	17	business	business	NOUN
fbem-11083	199	18	strategy	strategy	NOUN
fbem-11083	199	19	and	and	CCONJ
fbem-11083	199	20	responsiveness	responsiveness	NOUN
fbem-11083	199	21	to	to	ADP
fbem-11083	199	22	market	market	NOUN
fbem-11083	199	23	conditions	condition	NOUN
fbem-11083	199	24	.	.	PUNCT
fbem-11083	200	1	it	it	PRON
fbem-11083	200	2	is	be	AUX
fbem-11083	200	3	crucial	crucial	ADJ
fbem-11083	200	4	to	to	PART
fbem-11083	200	5	interpret	interpret	VERB
fbem-11083	200	6	the	the	DET
fbem-11083	200	7	capital	capital	NOUN
fbem-11083	200	8	accumulation	accumulation	NOUN
fbem-11083	200	9	rate	rate	NOUN
fbem-11083	200	10	in	in	ADP
fbem-11083	200	11	conjunction	conjunction	NOUN
fbem-11083	200	12	with	with	ADP
fbem-11083	200	13	other	other	ADJ
fbem-11083	200	14	financial	financial	ADJ
fbem-11083	200	15	metrics	metric	NOUN
fbem-11083	200	16	and	and	CCONJ
fbem-11083	200	17	qualitative	qualitative	ADJ
fbem-11083	200	18	factors	factor	NOUN
fbem-11083	200	19	to	to	PART
fbem-11083	200	20	form	form	VERB
fbem-11083	200	21	a	a	DET
fbem-11083	200	22	comprehensive	comprehensive	ADJ
fbem-11083	200	23	understanding	understanding	NOUN
fbem-11083	200	24	of	of	ADP
fbem-11083	200	25	each	each	DET
fbem-11083	200	26	company	company	NOUN
fbem-11083	200	27	's	's	PART
fbem-11083	200	28	financial	financial	ADJ
fbem-11083	200	29	position	position	NOUN
fbem-11083	200	30	and	and	CCONJ
fbem-11083	200	31	development	development	NOUN
fbem-11083	200	32	prospects	prospect	NOUN
fbem-11083	200	33	.	.	PUNCT
fbem-11083	201	1	indepth	indepth	ADJ
fbem-11083	201	2	financial	financial	ADJ
fbem-11083	201	3	analysis	analysis	NOUN
fbem-11083	201	4	,	,	PUNCT
fbem-11083	201	5	considering	consider	VERB
fbem-11083	201	6	factors	factor	NOUN
fbem-11083	201	7	such	such	ADJ
fbem-11083	201	8	as	as	ADP
fbem-11083	201	9	investment	investment	NOUN
fbem-11083	201	10	decisions	decision	NOUN
fbem-11083	201	11	,	,	PUNCT
fbem-11083	201	12	cost	cost	NOUN
fbem-11083	201	13	management	management	NOUN
fbem-11083	201	14	,	,	PUNCT
fbem-11083	201	15	and	and	CCONJ
fbem-11083	201	16	market	market	NOUN
fbem-11083	201	17	positioning	positioning	NOUN
fbem-11083	201	18	,	,	PUNCT
fbem-11083	201	19	is	be	AUX
fbem-11083	201	20	necessary	necessary	ADJ
fbem-11083	201	21	for	for	ADP
fbem-11083	201	22	a	a	DET
fbem-11083	201	23	robust	robust	ADJ
fbem-11083	201	24	assessment	assessment	NOUN
fbem-11083	201	25	of	of	ADP
fbem-11083	201	26	their	their	PRON
fbem-11083	201	27	capital	capital	NOUN
fbem-11083	201	28	accumulation	accumulation	NOUN
fbem-11083	201	29	strategies	strategy	NOUN
fbem-11083	201	30	and	and	CCONJ
fbem-11083	201	31	growth	growth	NOUN
fbem-11083	201	32	potential	potential	NOUN
fbem-11083	201	33	.	.	PUNCT
fbem-11083	202	1	this	this	DET
fbem-11083	202	2	analysis	analysis	NOUN
fbem-11083	202	3	is	be	AUX
fbem-11083	202	4	instrumental	instrumental	ADJ
fbem-11083	202	5	in	in	ADP
fbem-11083	202	6	assisting	assist	VERB
fbem-11083	202	7	investors	investor	NOUN
fbem-11083	202	8	,	,	PUNCT
fbem-11083	202	9	stakeholders	stakeholder	NOUN
fbem-11083	202	10	,	,	PUNCT
fbem-11083	202	11	and	and	CCONJ
fbem-11083	202	12	management	management	NOUN
fbem-11083	202	13	in	in	ADP
fbem-11083	202	14	making	make	VERB
fbem-11083	202	15	informed	informed	ADJ
fbem-11083	202	16	decisions	decision	NOUN
fbem-11083	202	17	and	and	CCONJ
fbem-11083	202	18	fostering	foster	VERB
fbem-11083	202	19	sustainable	sustainable	ADJ
fbem-11083	202	20	growth	growth	NOUN
fbem-11083	202	21	strategies	strategy	NOUN
fbem-11083	202	22	for	for	ADP
fbem-11083	202	23	the	the	DET
fbem-11083	202	24	companies	company	NOUN
fbem-11083	202	25	.	.	PUNCT
fbem-11083	203	1	table	table	NOUN
fbem-11083	203	2	2.4.4.1	2.4.4.1	NUM
fbem-11083	203	3	:	:	PUNCT
fbem-11083	203	4	guizhou	guizhou	PROPN
fbem-11083	203	5	maotai	maotai	PROPN
fbem-11083	203	6	capital	capital	NOUN
fbem-11083	203	7	accumulation	accumulation	NOUN
fbem-11083	203	8	rate	rate	NOUN
fbem-11083	203	9	indicators	indicator	NOUN
fbem-11083	203	10	year	year	NOUN
fbem-11083	203	11	2017	2017	NUM
fbem-11083	203	12	2018	2018	NUM
fbem-11083	203	13	2019	2019	NUM
fbem-11083	203	14	2020	2020	NUM
fbem-11083	203	15	2021	2021	NUM
fbem-11083	203	16	index	index	NOUN
fbem-11083	203	17	26.51	26.51	NUM
fbem-11083	203	18	%	%	NOUN
fbem-11083	203	19	22.28	22.28	NUM
fbem-11083	203	20	%	%	NOUN
fbem-11083	203	21	20.84	20.84	NUM
fbem-11083	203	22	%	%	NOUN
fbem-11083	203	23	18.22	18.22	NUM
fbem-11083	203	24	%	%	NOUN
fbem-11083	203	25	17.43	17.43	NUM
fbem-11083	203	26	%	%	NOUN
fbem-11083	203	27	table	table	NOUN
fbem-11083	203	28	2.4.4.2	2.4.4.2	NUM
fbem-11083	203	29	:	:	PUNCT
fbem-11083	203	30	wuliangye	wuliangye	NOUN
fbem-11083	203	31	capital	capital	NOUN
fbem-11083	203	32	accumulation	accumulation	NOUN
fbem-11083	203	33	rate	rate	NOUN
fbem-11083	203	34	indicators	indicator	NOUN
fbem-11083	203	35	year	year	NOUN
fbem-11083	203	36	2017	2017	NUM
fbem-11083	203	37	2018	2018	NUM
fbem-11083	203	38	2019	2019	NUM
fbem-11083	203	39	2020	2020	NUM
fbem-11083	203	40	2021	2021	NUM
fbem-11083	203	41	index	index	NOUN
fbem-11083	203	42	13.42	13.42	NUM
fbem-11083	203	43	%	%	NOUN
fbem-11083	203	44	19.10	19.10	NUM
fbem-11083	203	45	%	%	NOUN
fbem-11083	203	46	16.86	16.86	NUM
fbem-11083	203	47	%	%	NOUN
fbem-11083	203	48	15.33	15.33	NUM
fbem-11083	203	49	%	%	NOUN
fbem-11083	203	50	15.54	15.54	NUM
fbem-11083	203	51	%	%	NOUN
fbem-11083	203	52	0.00	0.00	NUM
fbem-11083	203	53	%	%	NOUN
fbem-11083	203	54	5.00	5.00	NUM
fbem-11083	203	55	%	%	NOUN
fbem-11083	203	56	10.00	10.00	NUM
fbem-11083	203	57	%	%	NOUN
fbem-11083	203	58	15.00	15.00	NUM
fbem-11083	203	59	%	%	NOUN
fbem-11083	203	60	20.00	20.00	NUM
fbem-11083	203	61	%	%	NOUN
fbem-11083	203	62	25.00	25.00	NUM
fbem-11083	203	63	%	%	NOUN
fbem-11083	203	64	2017	2017	NUM
fbem-11083	203	65	2018	2018	NUM
fbem-11083	203	66	2019	2019	NUM
fbem-11083	203	67	2020	2020	NUM
fbem-11083	203	68	2021	2021	NUM
fbem-11083	203	69	total	total	ADJ
fbem-11083	203	70	asset	asset	NOUN
fbem-11083	203	71	growth	growth	NOUN
fbem-11083	203	72	rate	rate	NOUN
fbem-11083	203	73	guizhou	guizhou	PROPN
fbem-11083	203	74	maotai	maotai	PROPN
fbem-11083	203	75	total	total	ADJ
fbem-11083	203	76	asset	asset	NOUN
fbem-11083	203	77	growth	growth	NOUN
fbem-11083	203	78	rate（%	rate（%	NOUN
fbem-11083	203	79	）	）	X
fbem-11083	203	80	wuliangye	wuliangye	VERB
fbem-11083	203	81	total	total	ADJ
fbem-11083	203	82	asset	asset	NOUN
fbem-11083	203	83	growth	growth	NOUN
fbem-11083	203	84	rate（%	rate（%	NOUN
fbem-11083	203	85	）	）	NOUN
fbem-11083	203	86	394	394	NUM
fbem-11083	203	87	data	datum	NOUN
fbem-11083	203	88	source	source	NOUN
fbem-11083	203	89	:	:	PUNCT
fbem-11083	203	90	csmar	csmar	PROPN
fbem-11083	203	91	figure	figure	NOUN
fbem-11083	203	92	2.4.4	2.4.4	NUM
fbem-11083	203	93	trend	trend	NOUN
fbem-11083	203	94	of	of	ADP
fbem-11083	203	95	capital	capital	NOUN
fbem-11083	203	96	accumulation	accumulation	NOUN
fbem-11083	203	97	rate	rate	NOUN
fbem-11083	203	98	3	3	NUM
fbem-11083	203	99	.	.	PUNCT
fbem-11083	203	100	conclusion	conclusion	NOUN
fbem-11083	203	101	in	in	ADP
fbem-11083	203	102	this	this	DET
fbem-11083	203	103	study	study	NOUN
fbem-11083	203	104	,	,	PUNCT
fbem-11083	203	105	we	we	PRON
fbem-11083	203	106	have	have	AUX
fbem-11083	203	107	conducted	conduct	VERB
fbem-11083	203	108	a	a	DET
fbem-11083	203	109	comprehensive	comprehensive	ADJ
fbem-11083	203	110	analysis	analysis	NOUN
fbem-11083	203	111	of	of	ADP
fbem-11083	203	112	the	the	DET
fbem-11083	203	113	financial	financial	ADJ
fbem-11083	203	114	performance	performance	NOUN
fbem-11083	203	115	and	and	CCONJ
fbem-11083	203	116	development	development	NOUN
fbem-11083	203	117	capabilities	capability	NOUN
fbem-11083	203	118	of	of	ADP
fbem-11083	203	119	two	two	NUM
fbem-11083	203	120	prominent	prominent	ADJ
fbem-11083	203	121	liquor	liquor	NOUN
fbem-11083	203	122	companies	company	NOUN
fbem-11083	203	123	,	,	PUNCT
fbem-11083	203	124	guizhou	guizhou	PROPN
fbem-11083	203	125	maotai	maotai	PROPN
fbem-11083	203	126	and	and	CCONJ
fbem-11083	203	127	wuliangye	wuliangye	NOUN
fbem-11083	203	128	.	.	PUNCT
fbem-11083	204	1	the	the	DET
fbem-11083	204	2	evaluation	evaluation	NOUN
fbem-11083	204	3	was	be	AUX
fbem-11083	204	4	based	base	VERB
fbem-11083	204	5	on	on	ADP
fbem-11083	204	6	key	key	ADJ
fbem-11083	204	7	financial	financial	ADJ
fbem-11083	204	8	indicators	indicator	NOUN
fbem-11083	204	9	such	such	ADJ
fbem-11083	204	10	as	as	ADP
fbem-11083	204	11	profitability	profitability	NOUN
fbem-11083	204	12	,	,	PUNCT
fbem-11083	204	13	solvency	solvency	NOUN
fbem-11083	204	14	,	,	PUNCT
fbem-11083	204	15	operating	operating	NOUN
fbem-11083	204	16	ability	ability	NOUN
fbem-11083	204	17	,	,	PUNCT
fbem-11083	204	18	and	and	CCONJ
fbem-11083	204	19	growth	growth	NOUN
fbem-11083	204	20	potential	potential	NOUN
fbem-11083	204	21	.	.	PUNCT
fbem-11083	205	1	the	the	DET
fbem-11083	205	2	findings	finding	NOUN
fbem-11083	205	3	presented	present	VERB
fbem-11083	205	4	in	in	ADP
fbem-11083	205	5	the	the	DET
fbem-11083	205	6	conclusion	conclusion	NOUN
fbem-11083	205	7	are	be	AUX
fbem-11083	205	8	derived	derive	VERB
fbem-11083	205	9	from	from	ADP
fbem-11083	205	10	a	a	DET
fbem-11083	205	11	rigorous	rigorous	ADJ
fbem-11083	205	12	examination	examination	NOUN
fbem-11083	205	13	of	of	ADP
fbem-11083	205	14	the	the	DET
fbem-11083	205	15	companies	company	NOUN
fbem-11083	205	16	'	'	PART
fbem-11083	205	17	financial	financial	ADJ
fbem-11083	205	18	reports	report	NOUN
fbem-11083	205	19	and	and	CCONJ
fbem-11083	205	20	performance	performance	NOUN
fbem-11083	205	21	trends	trend	NOUN
fbem-11083	205	22	over	over	ADP
fbem-11083	205	23	the	the	DET
fbem-11083	205	24	five	five	NUM
fbem-11083	205	25	-	-	PUNCT
fbem-11083	205	26	year	year	NOUN
fbem-11083	205	27	period	period	NOUN
fbem-11083	205	28	from	from	ADP
fbem-11083	205	29	2017	2017	NUM
fbem-11083	205	30	to	to	ADP
fbem-11083	205	31	2021	2021	NUM
fbem-11083	205	32	.	.	PUNCT
fbem-11083	206	1	regarding	regard	VERB
fbem-11083	206	2	profitability	profitability	NOUN
fbem-11083	206	3	,	,	PUNCT
fbem-11083	206	4	guizhou	guizhou	PROPN
fbem-11083	206	5	maotai	maotai	PROPN
fbem-11083	206	6	outperforms	outperform	NOUN
fbem-11083	206	7	wuliangye	wuliangye	VERB
fbem-11083	206	8	,	,	PUNCT
fbem-11083	206	9	demonstrating	demonstrate	VERB
fbem-11083	206	10	a	a	DET
fbem-11083	206	11	higher	high	ADJ
fbem-11083	206	12	level	level	NOUN
fbem-11083	206	13	of	of	ADP
fbem-11083	206	14	profit	profit	NOUN
fbem-11083	206	15	-	-	PUNCT
fbem-11083	206	16	making	make	VERB
fbem-11083	206	17	capacity	capacity	NOUN
fbem-11083	206	18	.	.	PUNCT
fbem-11083	207	1	this	this	DET
fbem-11083	207	2	conclusion	conclusion	NOUN
fbem-11083	207	3	is	be	AUX
fbem-11083	207	4	supported	support	VERB
fbem-11083	207	5	by	by	ADP
fbem-11083	207	6	an	an	DET
fbem-11083	207	7	in	in	ADP
fbem-11083	207	8	-	-	PUNCT
fbem-11083	207	9	depth	depth	NOUN
fbem-11083	207	10	assessment	assessment	NOUN
fbem-11083	207	11	of	of	ADP
fbem-11083	207	12	their	their	PRON
fbem-11083	207	13	net	net	ADJ
fbem-11083	207	14	profit	profit	NOUN
fbem-11083	207	15	margins	margin	NOUN
fbem-11083	207	16	,	,	PUNCT
fbem-11083	207	17	gross	gross	ADJ
fbem-11083	207	18	profit	profit	NOUN
fbem-11083	207	19	margins	margin	NOUN
fbem-11083	207	20	,	,	PUNCT
fbem-11083	207	21	and	and	CCONJ
fbem-11083	207	22	operating	operate	VERB
fbem-11083	207	23	profit	profit	NOUN
fbem-11083	207	24	margins	margin	NOUN
fbem-11083	207	25	.	.	PUNCT
fbem-11083	208	1	moreover	moreover	ADV
fbem-11083	208	2	,	,	PUNCT
fbem-11083	208	3	we	we	PRON
fbem-11083	208	4	attribute	attribute	VERB
fbem-11083	208	5	guizhou	guizhou	PROPN
fbem-11083	208	6	maotai	maotai	PROPN
fbem-11083	208	7	's	's	PART
fbem-11083	208	8	superior	superior	ADJ
fbem-11083	208	9	profitability	profitability	NOUN
fbem-11083	208	10	to	to	ADP
fbem-11083	208	11	its	its	PRON
fbem-11083	208	12	iconic	iconic	ADJ
fbem-11083	208	13	status	status	NOUN
fbem-11083	208	14	as	as	ADP
fbem-11083	208	15	the	the	DET
fbem-11083	208	16	"	"	PUNCT
fbem-11083	208	17	national	national	ADJ
fbem-11083	208	18	liquor	liquor	NOUN
fbem-11083	208	19	"	"	PUNCT
fbem-11083	208	20	and	and	CCONJ
fbem-11083	208	21	the	the	DET
fbem-11083	208	22	brand	brand	NOUN
fbem-11083	208	23	's	's	PART
fbem-11083	208	24	strong	strong	ADJ
fbem-11083	208	25	pricing	pricing	NOUN
fbem-11083	208	26	power	power	NOUN
fbem-11083	208	27	.	.	PUNCT
fbem-11083	209	1	the	the	DET
fbem-11083	209	2	analysis	analysis	NOUN
fbem-11083	209	3	of	of	ADP
fbem-11083	209	4	solvency	solvency	NOUN
fbem-11083	209	5	reveals	reveal	VERB
fbem-11083	209	6	that	that	SCONJ
fbem-11083	209	7	both	both	PRON
fbem-11083	209	8	guizhou	guizhou	PROPN
fbem-11083	209	9	maotai	maotai	PROPN
fbem-11083	209	10	and	and	CCONJ
fbem-11083	209	11	wuliangye	wuliangye	PROPN
fbem-11083	209	12	exhibit	exhibit	VERB
fbem-11083	209	13	a	a	DET
fbem-11083	209	14	healthy	healthy	ADJ
fbem-11083	209	15	financial	financial	ADJ
fbem-11083	209	16	position	position	NOUN
fbem-11083	209	17	with	with	ADP
fbem-11083	209	18	no	no	DET
fbem-11083	209	19	significant	significant	ADJ
fbem-11083	209	20	debt	debt	NOUN
fbem-11083	209	21	pressure	pressure	NOUN
fbem-11083	209	22	.	.	PUNCT
fbem-11083	210	1	however	however	ADV
fbem-11083	210	2	,	,	PUNCT
fbem-11083	210	3	wuliangye	wuliangye	PROPN
fbem-11083	210	4	's	's	PART
fbem-11083	210	5	higher	high	ADJ
fbem-11083	210	6	proportion	proportion	NOUN
fbem-11083	210	7	of	of	ADP
fbem-11083	210	8	monetary	monetary	ADJ
fbem-11083	210	9	funds	fund	NOUN
fbem-11083	210	10	may	may	AUX
fbem-11083	210	11	raise	raise	VERB
fbem-11083	210	12	concerns	concern	NOUN
fbem-11083	210	13	about	about	ADP
fbem-11083	210	14	the	the	DET
fbem-11083	210	15	efficient	efficient	ADJ
fbem-11083	210	16	utilization	utilization	NOUN
fbem-11083	210	17	of	of	ADP
fbem-11083	210	18	capital	capital	NOUN
fbem-11083	210	19	and	and	CCONJ
fbem-11083	210	20	the	the	DET
fbem-11083	210	21	impact	impact	NOUN
fbem-11083	210	22	on	on	ADP
fbem-11083	210	23	overall	overall	ADJ
fbem-11083	210	24	profitability	profitability	NOUN
fbem-11083	210	25	.	.	PUNCT
fbem-11083	211	1	on	on	ADP
fbem-11083	211	2	the	the	DET
fbem-11083	211	3	other	other	ADJ
fbem-11083	211	4	hand	hand	NOUN
fbem-11083	211	5	,	,	PUNCT
fbem-11083	211	6	guizhou	guizhou	PROPN
fbem-11083	211	7	maotai	maotai	PROPN
fbem-11083	211	8	's	's	PART
fbem-11083	211	9	prudent	prudent	ADJ
fbem-11083	211	10	financial	financial	ADJ
fbem-11083	211	11	management	management	NOUN
fbem-11083	211	12	contributes	contribute	VERB
fbem-11083	211	13	to	to	ADP
fbem-11083	211	14	a	a	DET
fbem-11083	211	15	more	more	ADV
fbem-11083	211	16	balanced	balanced	ADJ
fbem-11083	211	17	capital	capital	NOUN
fbem-11083	211	18	structure	structure	NOUN
fbem-11083	211	19	.	.	PUNCT
fbem-11083	212	1	in	in	ADP
fbem-11083	212	2	terms	term	NOUN
fbem-11083	212	3	of	of	ADP
fbem-11083	212	4	operating	operate	VERB
fbem-11083	212	5	ability	ability	NOUN
fbem-11083	212	6	,	,	PUNCT
fbem-11083	212	7	both	both	DET
fbem-11083	212	8	companies	company	NOUN
fbem-11083	212	9	demonstrate	demonstrate	VERB
fbem-11083	212	10	strong	strong	ADJ
fbem-11083	212	11	capabilities	capability	NOUN
fbem-11083	212	12	in	in	ADP
fbem-11083	212	13	managing	manage	VERB
fbem-11083	212	14	their	their	PRON
fbem-11083	212	15	operations	operation	NOUN
fbem-11083	212	16	.	.	PUNCT
fbem-11083	213	1	guizhou	guizhou	PROPN
fbem-11083	213	2	maotai	maotai	PROPN
fbem-11083	213	3	's	's	PART
fbem-11083	213	4	strategic	strategic	ADJ
fbem-11083	213	5	decision	decision	NOUN
fbem-11083	213	6	to	to	PART
fbem-11083	213	7	clear	clear	VERB
fbem-11083	213	8	its	its	PRON
fbem-11083	213	9	accounts	account	NOUN
fbem-11083	213	10	receivable	receivable	ADJ
fbem-11083	213	11	effectively	effectively	ADV
fbem-11083	213	12	minimizes	minimize	VERB
fbem-11083	213	13	bad	bad	ADJ
fbem-11083	213	14	debt	debt	NOUN
fbem-11083	213	15	issues	issue	NOUN
fbem-11083	213	16	,	,	PUNCT
fbem-11083	213	17	ensuring	ensure	VERB
fbem-11083	213	18	smooth	smooth	ADJ
fbem-11083	213	19	cash	cash	NOUN
fbem-11083	213	20	flows	flow	NOUN
fbem-11083	213	21	.	.	PUNCT
fbem-11083	214	1	while	while	SCONJ
fbem-11083	214	2	comparing	compare	VERB
fbem-11083	214	3	inventory	inventory	NOUN
fbem-11083	214	4	turnover	turnover	NOUN
fbem-11083	214	5	,	,	PUNCT
fbem-11083	214	6	the	the	DET
fbem-11083	214	7	distinct	distinct	ADJ
fbem-11083	214	8	characteristics	characteristic	NOUN
fbem-11083	214	9	of	of	ADP
fbem-11083	214	10	their	their	PRON
fbem-11083	214	11	products	product	NOUN
fbem-11083	214	12	necessitate	necessitate	ADJ
fbem-11083	214	13	a	a	DET
fbem-11083	214	14	more	more	ADV
fbem-11083	214	15	nuanced	nuanced	ADJ
fbem-11083	214	16	assessment	assessment	NOUN
fbem-11083	214	17	.	.	PUNCT
fbem-11083	215	1	nonetheless	nonetheless	ADV
fbem-11083	215	2	,	,	PUNCT
fbem-11083	215	3	both	both	DET
fbem-11083	215	4	companies	company	NOUN
fbem-11083	215	5	maintain	maintain	VERB
fbem-11083	215	6	industryleading	industryleade	VERB
fbem-11083	215	7	operational	operational	ADJ
fbem-11083	215	8	management	management	NOUN
fbem-11083	215	9	capabilities	capability	NOUN
fbem-11083	215	10	.	.	PUNCT
fbem-11083	216	1	the	the	DET
fbem-11083	216	2	examination	examination	NOUN
fbem-11083	216	3	of	of	ADP
fbem-11083	216	4	growth	growth	NOUN
fbem-11083	216	5	potential	potential	ADJ
fbem-11083	216	6	highlights	highlight	NOUN
fbem-11083	216	7	wuliangye	wuliangye	PROPN
fbem-11083	216	8	's	's	PART
fbem-11083	216	9	superior	superior	ADJ
fbem-11083	216	10	performance	performance	NOUN
fbem-11083	216	11	compared	compare	VERB
fbem-11083	216	12	to	to	ADP
fbem-11083	216	13	guizhou	guizhou	PROPN
fbem-11083	216	14	maotai	maotai	PROPN
fbem-11083	216	15	.	.	PUNCT
fbem-11083	217	1	wuliangye	wuliangye	PROPN
fbem-11083	217	2	's	's	PART
fbem-11083	217	3	relatively	relatively	ADV
fbem-11083	217	4	stable	stable	ADJ
fbem-11083	217	5	growth	growth	NOUN
fbem-11083	217	6	rate	rate	NOUN
fbem-11083	217	7	indicates	indicate	VERB
fbem-11083	217	8	a	a	DET
fbem-11083	217	9	more	more	ADV
fbem-11083	217	10	consistent	consistent	ADJ
fbem-11083	217	11	and	and	CCONJ
fbem-11083	217	12	sustainable	sustainable	ADJ
fbem-11083	217	13	development	development	NOUN
fbem-11083	217	14	trajectory	trajectory	NOUN
fbem-11083	217	15	.	.	PUNCT
fbem-11083	218	1	in	in	ADP
fbem-11083	218	2	contrast	contrast	NOUN
fbem-11083	218	3	,	,	PUNCT
fbem-11083	218	4	guizhou	guizhou	PROPN
fbem-11083	218	5	maotai	maotai	PROPN
fbem-11083	218	6	's	's	PART
fbem-11083	218	7	growth	growth	NOUN
fbem-11083	218	8	rate	rate	NOUN
fbem-11083	218	9	has	have	AUX
fbem-11083	218	10	been	be	AUX
fbem-11083	218	11	impacted	impact	VERB
fbem-11083	218	12	by	by	ADP
fbem-11083	218	13	the	the	DET
fbem-11083	218	14	matured	matured	ADJ
fbem-11083	218	15	nature	nature	NOUN
fbem-11083	218	16	of	of	ADP
fbem-11083	218	17	its	its	PRON
fbem-11083	218	18	business	business	NOUN
fbem-11083	218	19	and	and	CCONJ
fbem-11083	218	20	the	the	DET
fbem-11083	218	21	capacity	capacity	NOUN
fbem-11083	218	22	constraints	constraint	VERB
fbem-11083	218	23	it	it	PRON
fbem-11083	218	24	faces	face	VERB
fbem-11083	218	25	.	.	PUNCT
fbem-11083	219	1	it	it	PRON
fbem-11083	219	2	is	be	AUX
fbem-11083	219	3	important	important	ADJ
fbem-11083	219	4	to	to	PART
fbem-11083	219	5	note	note	VERB
fbem-11083	219	6	that	that	SCONJ
fbem-11083	219	7	this	this	DET
fbem-11083	219	8	study	study	NOUN
fbem-11083	219	9	solely	solely	ADV
fbem-11083	219	10	focuses	focus	VERB
fbem-11083	219	11	on	on	ADP
fbem-11083	219	12	financial	financial	ADJ
fbem-11083	219	13	indicators	indicator	NOUN
fbem-11083	219	14	and	and	CCONJ
fbem-11083	219	15	does	do	AUX
fbem-11083	219	16	not	not	PART
fbem-11083	219	17	encompass	encompass	VERB
fbem-11083	219	18	all	all	DET
fbem-11083	219	19	aspects	aspect	NOUN
fbem-11083	219	20	of	of	ADP
fbem-11083	219	21	the	the	DET
fbem-11083	219	22	companies	company	NOUN
fbem-11083	219	23	'	'	PART
fbem-11083	219	24	operations	operation	NOUN
fbem-11083	219	25	.	.	PUNCT
fbem-11083	220	1	further	further	ADJ
fbem-11083	220	2	research	research	NOUN
fbem-11083	220	3	and	and	CCONJ
fbem-11083	220	4	analysis	analysis	NOUN
fbem-11083	220	5	are	be	AUX
fbem-11083	220	6	encouraged	encourage	VERB
fbem-11083	220	7	to	to	PART
fbem-11083	220	8	explore	explore	VERB
fbem-11083	220	9	non	non	ADJ
fbem-11083	220	10	-	-	ADJ
fbem-11083	220	11	financial	financial	ADJ
fbem-11083	220	12	factors	factor	NOUN
fbem-11083	220	13	and	and	CCONJ
fbem-11083	220	14	industryspecific	industryspecific	ADJ
fbem-11083	220	15	dynamics	dynamic	NOUN
fbem-11083	220	16	that	that	PRON
fbem-11083	220	17	may	may	AUX
fbem-11083	220	18	further	far	ADV
fbem-11083	220	19	contribute	contribute	VERB
fbem-11083	220	20	to	to	ADP
fbem-11083	220	21	the	the	DET
fbem-11083	220	22	companies	company	NOUN
fbem-11083	220	23	'	'	PART
fbem-11083	220	24	performance	performance	NOUN
fbem-11083	220	25	.	.	PUNCT
fbem-11083	221	1	in	in	ADP
fbem-11083	221	2	conclusion	conclusion	NOUN
fbem-11083	221	3	,	,	PUNCT
fbem-11083	221	4	this	this	DET
fbem-11083	221	5	research	research	NOUN
fbem-11083	221	6	provides	provide	VERB
fbem-11083	221	7	valuable	valuable	ADJ
fbem-11083	221	8	insights	insight	NOUN
fbem-11083	221	9	into	into	ADP
fbem-11083	221	10	the	the	DET
fbem-11083	221	11	financial	financial	ADJ
fbem-11083	221	12	performance	performance	NOUN
fbem-11083	221	13	and	and	CCONJ
fbem-11083	221	14	development	development	NOUN
fbem-11083	221	15	capabilities	capability	NOUN
fbem-11083	221	16	of	of	ADP
fbem-11083	221	17	guizhou	guizhou	PROPN
fbem-11083	221	18	maotai	maotai	PROPN
fbem-11083	221	19	and	and	CCONJ
fbem-11083	221	20	wuliangye	wuliangye	NOUN
fbem-11083	221	21	.	.	PUNCT
fbem-11083	222	1	the	the	DET
fbem-11083	222	2	findings	finding	NOUN
fbem-11083	222	3	serve	serve	VERB
fbem-11083	222	4	as	as	ADP
fbem-11083	222	5	a	a	DET
fbem-11083	222	6	foundation	foundation	NOUN
fbem-11083	222	7	for	for	ADP
fbem-11083	222	8	future	future	ADJ
fbem-11083	222	9	discussions	discussion	NOUN
fbem-11083	222	10	on	on	ADP
fbem-11083	222	11	their	their	PRON
fbem-11083	222	12	competitive	competitive	ADJ
fbem-11083	222	13	strategies	strategy	NOUN
fbem-11083	222	14	,	,	PUNCT
fbem-11083	222	15	market	market	NOUN
fbem-11083	222	16	positioning	positioning	NOUN
fbem-11083	222	17	,	,	PUNCT
fbem-11083	222	18	and	and	CCONJ
fbem-11083	222	19	potential	potential	ADJ
fbem-11083	222	20	areas	area	NOUN
fbem-11083	222	21	of	of	ADP
fbem-11083	222	22	improvement	improvement	NOUN
fbem-11083	222	23	.	.	PUNCT
fbem-11083	223	1	the	the	DET
fbem-11083	223	2	academic	academic	ADJ
fbem-11083	223	3	rigor	rigor	NOUN
fbem-11083	223	4	applied	apply	VERB
fbem-11083	223	5	in	in	ADP
fbem-11083	223	6	this	this	DET
fbem-11083	223	7	study	study	NOUN
fbem-11083	223	8	ensures	ensure	VERB
fbem-11083	223	9	the	the	DET
fbem-11083	223	10	reliability	reliability	NOUN
fbem-11083	223	11	and	and	CCONJ
fbem-11083	223	12	validity	validity	NOUN
fbem-11083	223	13	of	of	ADP
fbem-11083	223	14	the	the	DET
fbem-11083	223	15	conclusions	conclusion	NOUN
fbem-11083	223	16	drawn	draw	VERB
fbem-11083	223	17	,	,	PUNCT
fbem-11083	223	18	contributing	contribute	VERB
fbem-11083	223	19	to	to	ADP
fbem-11083	223	20	the	the	DET
fbem-11083	223	21	body	body	NOUN
fbem-11083	223	22	of	of	ADP
fbem-11083	223	23	knowledge	knowledge	NOUN
fbem-11083	223	24	in	in	ADP
fbem-11083	223	25	the	the	DET
fbem-11083	223	26	field	field	NOUN
fbem-11083	223	27	of	of	ADP
fbem-11083	223	28	corporate	corporate	ADJ
fbem-11083	223	29	finance	finance	NOUN
fbem-11083	223	30	and	and	CCONJ
fbem-11083	223	31	strategic	strategic	ADJ
fbem-11083	223	32	management	management	NOUN
fbem-11083	223	33	.	.	PUNCT
fbem-11083	224	1	references	reference	NOUN
fbem-11083	224	2	[	[	X
fbem-11083	224	3	1	1	NUM
fbem-11083	224	4	]	]	X
fbem-11083	224	5	ma	ma	PROPN
fbem-11083	224	6	jiaxin	jiaxin	PROPN
fbem-11083	224	7	.	.	PUNCT
fbem-11083	225	1	geizhou	geizhou	PROPN
fbem-11083	225	2	moutai	moutai	PROPN
fbem-11083	225	3	financial	financial	ADJ
fbem-11083	225	4	analysis	analysis	NOUN
fbem-11083	225	5	and	and	CCONJ
fbem-11083	225	6	profitability	profitability	NOUN
fbem-11083	225	7	improvement	improvement	NOUN
fbem-11083	225	8	suggestions[j	suggestions[j	PROPN
fbem-11083	225	9	]	]	PUNCT
fbem-11083	225	10	.	.	PUNCT
fbem-11083	226	1	investment	investment	NOUN
fbem-11083	226	2	and	and	CCONJ
fbem-11083	226	3	cooperation	cooperation	NOUN
fbem-11083	226	4	,	,	PUNCT
fbem-11083	226	5	2023(05	2023(05	NUM
fbem-11083	226	6	):	):	PUNCT
fbem-11083	226	7	100	100	NUM
fbem-11083	226	8	-	-	SYM
fbem-11083	226	9	102	102	NUM
fbem-11083	226	10	.	.	PUNCT
fbem-11083	227	1	[	[	X
fbem-11083	227	2	2	2	NUM
fbem-11083	227	3	]	]	X
fbem-11083	227	4	wu	wu	PROPN
fbem-11083	227	5	kaixin	kaixin	PROPN
fbem-11083	227	6	,	,	PUNCT
fbem-11083	227	7	liu	liu	PROPN
fbem-11083	227	8	chun	chun	PROPN
fbem-11083	227	9	.	.	PUNCT
fbem-11083	228	1	analysis	analysis	NOUN
fbem-11083	228	2	of	of	ADP
fbem-11083	228	3	financial	financial	ADJ
fbem-11083	228	4	capacity	capacity	NOUN
fbem-11083	228	5	of	of	ADP
fbem-11083	228	6	guizhou	guizhou	NOUN
fbem-11083	228	7	moutai	moutai	PROPN
fbem-11083	229	1	[	[	X
fbem-11083	229	2	j	j	X
fbem-11083	229	3	]	]	X
fbem-11083	229	4	.	.	PUNCT
fbem-11083	230	1	science	science	NOUN
fbem-11083	230	2	and	and	CCONJ
fbem-11083	230	3	technology	technology	NOUN
fbem-11083	230	4	vision	vision	NOUN
fbem-11083	230	5	,	,	PUNCT
fbem-11083	230	6	2020(04	2020(04	NUM
fbem-11083	230	7	):	):	PUNCT
fbem-11083	230	8	218	218	NUM
fbem-11083	230	9	-	-	SYM
fbem-11083	230	10	219	219	NUM
fbem-11083	230	11	.	.	PUNCT
fbem-11083	231	1	[	[	X
fbem-11083	231	2	3	3	X
fbem-11083	231	3	]	]	X
fbem-11083	231	4	zhang	zhang	PROPN
fbem-11083	231	5	ying	ying	PROPN
fbem-11083	231	6	.	.	PUNCT
fbem-11083	232	1	analysis	analysis	NOUN
fbem-11083	232	2	of	of	ADP
fbem-11083	232	3	financial	financial	ADJ
fbem-11083	232	4	statements	statement	NOUN
fbem-11083	232	5	of	of	ADP
fbem-11083	232	6	geizhou	geizhou	PROPN
fbem-11083	232	7	moutai	moutai	PROPN
fbem-11083	232	8	company[j].modern	company[j].modern	PROPN
fbem-11083	232	9	business,2021(18):106	business,2021(18):106	PROPN
fbem-11083	232	10	-	-	PUNCT
fbem-11083	232	11	108	108	NUM
fbem-11083	232	12	.	.	PUNCT
fbem-11083	233	1	[	[	X
fbem-11083	233	2	4	4	NUM
fbem-11083	233	3	]	]	X
fbem-11083	233	4	liu	liu	PROPN
fbem-11083	233	5	dewei	dewei	PROPN
fbem-11083	233	6	,	,	PUNCT
fbem-11083	233	7	wang	wang	PROPN
fbem-11083	233	8	zuogong	zuogong	PROPN
fbem-11083	233	9	.	.	PUNCT
fbem-11083	234	1	comparative	comparative	ADJ
fbem-11083	234	2	analysis	analysis	NOUN
fbem-11083	234	3	of	of	ADP
fbem-11083	234	4	guizhou	guizhou	PROPN
fbem-11083	234	5	maotai	maotai	PROPN
fbem-11083	234	6	and	and	CCONJ
fbem-11083	234	7	wuliangye	wuliangye	PROPN
fbem-11083	234	8	finance[j].china	finance[j].china	PROPN
fbem-11083	234	9	management	management	PROPN
fbem-11083	234	10	informatization	informatization	NOUN
fbem-11083	234	11	,	,	PUNCT
fbem-11083	234	12	2022	2022	NUM
fbem-11083	234	13	,	,	PUNCT
fbem-11083	234	14	25(01):13	25(01):13	NUM
fbem-11083	234	15	-	-	SYM
fbem-11083	234	16	16	16	NUM
fbem-11083	234	17	.	.	PUNCT
fbem-11083	235	1	[	[	X
fbem-11083	235	2	5	5	X
fbem-11083	235	3	]	]	X
fbem-11083	235	4	liu	liu	PROPN
fbem-11083	235	5	jingran	jingran	PROPN
fbem-11083	235	6	.	.	PUNCT
fbem-11083	236	1	analysis	analysis	NOUN
fbem-11083	236	2	of	of	ADP
fbem-11083	236	3	enterprise	enterprise	NOUN
fbem-11083	236	4	asset	asset	NOUN
fbem-11083	236	5	quality	quality	NOUN
fbem-11083	236	6	based	base	VERB
fbem-11083	236	7	on	on	ADP
fbem-11083	236	8	financial	financial	ADJ
fbem-11083	236	9	statements	statement	NOUN
fbem-11083	236	10	:	:	PUNCT
fbem-11083	236	11	taking	take	VERB
fbem-11083	236	12	guizhou	guizhou	NOUN
fbem-11083	236	13	maotai	maotai	PROPN
fbem-11083	236	14	as	as	ADP
fbem-11083	236	15	an	an	DET
fbem-11083	236	16	example	example	NOUN
fbem-11083	237	1	[	[	X
fbem-11083	237	2	j	j	X
fbem-11083	237	3	]	]	X
fbem-11083	237	4	.	.	PUNCT
fbem-11083	238	1	investment	investment	NOUN
fbem-11083	238	2	and	and	CCONJ
fbem-11083	238	3	cooperation	cooperation	NOUN
fbem-11083	238	4	,	,	PUNCT
fbem-11083	238	5	2023(01):148	2023(01):148	NOUN
fbem-11083	238	6	-	-	SYM
fbem-11083	238	7	150	150	NUM
fbem-11083	238	8	.	.	PUNCT
fbem-11083	239	1	[	[	X
fbem-11083	239	2	6	6	NUM
fbem-11083	239	3	]	]	SYM
fbem-11083	239	4	li	li	PROPN
fbem-11083	239	5	jiahui	jiahui	PROPN
fbem-11083	239	6	.	.	PUNCT
fbem-11083	240	1	research	research	NOUN
fbem-11083	240	2	on	on	ADP
fbem-11083	240	3	the	the	DET
fbem-11083	240	4	financial	financial	ADJ
fbem-11083	240	5	performance	performance	NOUN
fbem-11083	240	6	of	of	ADP
fbem-11083	240	7	wuliangye	wuliangye	NOUN
fbem-11083	240	8	shares	share	NOUN
fbem-11083	240	9	based	base	VERB
fbem-11083	240	10	on	on	ADP
fbem-11083	240	11	mixed	mixed	PROPN
fbem-11083	240	12	reform[d].taiyuan	reform[d].taiyuan	PROPN
fbem-11083	240	13	university	university	PROPN
fbem-11083	240	14	of	of	ADP
fbem-11083	240	15	technology,2022	technology,2022	NOUN
fbem-11083	240	16	.	.	PUNCT
fbem-11083	241	1	[	[	X
fbem-11083	241	2	7	7	X
fbem-11083	241	3	]	]	X
fbem-11083	241	4	chen	chen	PROPN
fbem-11083	241	5	yuanzuo	yuanzuo	PROPN
fbem-11083	241	6	.	.	PUNCT
fbem-11083	242	1	strategic	strategic	ADJ
fbem-11083	242	2	analysis	analysis	NOUN
fbem-11083	242	3	of	of	ADP
fbem-11083	242	4	wuliangye	wuliangye	NOUN
fbem-11083	242	5	group	group	NOUN
fbem-11083	242	6	from	from	ADP
fbem-11083	242	7	the	the	DET
fbem-11083	242	8	perspective	perspective	NOUN
fbem-11083	242	9	of	of	ADP
fbem-11083	242	10	finance[j].operation	finance[j].operation	NOUN
fbem-11083	242	11	and	and	CCONJ
fbem-11083	242	12	management	management	NOUN
fbem-11083	242	13	,	,	PUNCT
fbem-11083	242	14	2021(07	2021(07	NUM
fbem-11083	242	15	):	):	PUNCT
fbem-11083	242	16	26	26	NUM
fbem-11083	242	17	-	-	SYM
fbem-11083	242	18	31	31	NUM
fbem-11083	242	19	.	.	PUNCT
fbem-11083	243	1	0.00	0.00	NUM
fbem-11083	243	2	%	%	NOUN
fbem-11083	243	3	5.00	5.00	NUM
fbem-11083	243	4	%	%	NOUN
fbem-11083	243	5	10.00	10.00	NUM
fbem-11083	243	6	%	%	NOUN
fbem-11083	243	7	15.00	15.00	NUM
fbem-11083	243	8	%	%	NOUN
fbem-11083	243	9	20.00	20.00	NUM
fbem-11083	243	10	%	%	NOUN
fbem-11083	243	11	25.00	25.00	NUM
fbem-11083	243	12	%	%	NOUN
fbem-11083	243	13	30.00	30.00	NUM
fbem-11083	243	14	%	%	NOUN
fbem-11083	243	15	2017	2017	NUM
fbem-11083	243	16	2018	2018	NUM
fbem-11083	243	17	2019	2019	NUM
fbem-11083	243	18	2020	2020	NUM
fbem-11083	243	19	2021	2021	NUM
fbem-11083	243	20	capital	capital	NOUN
fbem-11083	243	21	accumulation	accumulation	NOUN
fbem-11083	243	22	rate	rate	NOUN
fbem-11083	243	23	guizhou	guizhou	PROPN
fbem-11083	243	24	maotai	maotai	PROPN
fbem-11083	243	25	capital	capital	NOUN
fbem-11083	243	26	accumulation	accumulation	PROPN
fbem-11083	243	27	rate（%	rate（%	NOUN
fbem-11083	243	28	）	）	PROPN
fbem-11083	243	29	wuliangye	wuliangye	NOUN
fbem-11083	243	30	capital	capital	NOUN
fbem-11083	243	31	accumulation	accumulation	NOUN
fbem-11083	243	32	rate	rate	NOUN
fbem-11083	243	33	（	（	PUNCT
fbem-11083	243	34	%	%	NOUN
fbem-11083	243	35	）	）	PUNCT