Industry: Chemical & Material
Published Date: 2025-10-03
Pages: 169 Pages
Report ld: 5114181
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Luzhou-Flavored Baijiu Lees Market Size(US$)

CAGR 2025-2031
4.2%
Market Size,2031
USD 30
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global Luzhou-Flavored Baijiu Lees market is projected to grow from US$ 22.7 million in 2024 to US$ 30 million by 2031, at a CAGR of 4.2% (2025-2031), driven by critical product segments and diverse end‑use applications, while evolving U.S. tariff policies introduce trade‑cost volatility and supply‑chain uncertainty.
Luzhou-flavored Baijiu lees are the byproducts from the brewing process of Luzhou-flavored Baijiu, one of the most popular types of Chinese liquor known for its strong, pungent fragrance. Similar to Maotai-flavored Baijiu, these lees consist of leftover grains and fermented solids and contain valuable nutrients, making them suitable for various applications like animal feed, fertilizers, and even bioactive compound extraction.
High Production Volume:
Luzhou-flavored Baijiu is one of the largest categories of Baijiu in China. As such, the volume of lees generated is significant, creating a substantial market for their byproducts.
Animal Feed:
Like Maotai-flavored Baijiu lees, Luzhou-flavored Baijiu lees are rich in nutrients, making them ideal for use as animal feed, particularly in poultry and swine industries.
Bioactive Compounds:
Research into the chemical composition of Luzhou lees has uncovered various bioactive compounds that can be used in pharmaceuticals and food supplements, opening up new revenue streams.
Lack of Standardized Processing:
The methods for processing Luzhou lees into useful products are not yet standardized, which can affect the consistency and quality of the final product.
High Costs of Extraction:
Extracting valuable compounds or converting these lees into biofuels requires specialized equipment and technology, which can be cost-prohibitive for smaller producers.
Report Includes:
This definitive report equips business leaders, decision-makers and stakeholders with a 360° view of the global Luzhou-Flavored Baijiu Lees market, seamlessly integrating production capacity and sales performance across the value chain. It analyzes historical production, revenue, and sales data (2020–2024) and delivers forecasts through 2031, illuminating demand trends and growth drivers.
By segmenting the market by Type and by Application, the study quantifies volume and value, growth rates, technical innovations, niche opportunities, and substitution risks, and analyzes downstream customers distribution pattern.
Granular regional insights cover five major markets—North America, Europe, APAC, South America, and MEA—with in‑depth analysis of 20+ countries. Each region’s dominant products, competitive landscape, and downstream demand trends are clearly detailed.
Critical competitive intelligence profiles manufacturers—capacity, sales volume, revenue, margins, pricing strategies, and major customers—and dissects the top-player positioning across product lines, applications, and regions to reveal strategic strengths.
A concise supply‑chain overview maps upstream suppliers, manufacturing technologies, cost structures, and distribution dynamics to identify strategic gaps and unmet demand.
MARKET SEGMENTATION
CHAPTER OUTLINE
Chapter 1: Defines the Luzhou-Flavored Baijiu Lees study scope, segments the market by Type and by Application, etc, highlights segment size and growth potential.
Chapter 2: Offers current market state, projects global revenue and sales to 2031, pinpointing high consumption regions and emerging market catalysts
Chapter 3: Maps global production capacity, utilization, and market share (2020–2031), identifies efficient hubs, reveals regulatory/trade policy impacts and bottlenecks.
Chapter 4: Dissects the manufacturer landscape—ranks by volume and revenue, analyzes profitability and pricing, maps production bases, details manufacturer performance by product type and evaluates concentration alongside M&A moves.
Chapter 5: Unlocks high margin product segments—compares sales, revenue, ASP, and technology differentiators, highlighting growth niches and substitution risks
Chapter 6: Targets downstream market opportunities—evaluates sales, revenue, and pricing by Application, identifies emerging use cases, and profiles leading customers by region and by Application.
Chapter 7: North America—breaks down sales and revenue by Type, by Application and country, profiles key manufacturers and assesses growth drivers and barriers.
Chapter 8: Europe—analyses regional sales, revenue and market by Type, by Application and manufacturers, flagging drivers and barriers.
Chapter 9: Asia Pacific—quantifies sales and revenue by Type, by Application, and region/country, profiles top manufacturers, and uncovers high potential expansion areas.
Chapter 10: Central & South America—measures sales and revenue by Type, by Application, and country, profiles top manufacturers, and identifies investment opportunities and challenges.
Chapter 11: Middle East and Africa—evaluates sales and revenue by Type, by Application, and country, profiles key manufacturers, and outlines investment prospects and market hurdles
Chapter 12: Profiles manufacturers in depth—details product specs, capacity, sales, revenue, margins; top manufactures 2024 sales breakdowns by product type, by Application, by sales region SWOT analysis, and recent strategic developments.
Chapter 13: Supply chain—analyses upstream raw materials and suppliers, manufacturing footprint and technology, cost drivers, plus downstream channels and distributor roles.
Chapter 14: Market dynamics—explores drivers, restraints, regulatory impacts, and risk mitigation strategies.
Chapter 15: Actionable conclusions and strategic recommendations.
WHY THIS REPORT
Beyond standard market data, this analysis provides a clear profitability roadmap, empowering you to:
Beyond standard market data, this analysis provides a clear profitability roadmap—empowering you to:
Allocate capital strategically to high growth regions (Chapters 7–11) and margin rich segments (Chapter 5).
Negotiate from strength with suppliers (Chapter 13) and customers (Chapter 6) using cost and demand intelligence.
Outmaneuver competitors with granular insights into their operations, margins, and strategies (Chapters 4 and 12).
Secure your supply chain against disruptions through upstream and downstream visibility (Chapters 13 and 14).
Leverage this 360° intelligence to turn market complexity into actionable competitive advantage.
QYRESEARCH'S STRENGTHS
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
We identify regional market threats and growth prospects to guide your overseas layout.
We adjust product portfolios in line with local consumption habits.
We unpack rivals’ operation strategies for scattered and highly concentrated industries.
We cover competition landscape, full supply chain and quantified market size data, and deliver tailor-made customized surveys to meet your unique business demands.
We own self-owned massive exclusive databases, backed by 19 years of global market research experience across thousands of sectors.
Our team operates 24 hours a day, 365 days a year, enabling ultra-fast report turnaround to respond to your research needs efficiently.
We integrate regional risk assessment, localized product optimization and competitor analysis to deliver actionable market strategies.
All data is cross-verified from multiple industry sources to deliver thorough, precise analysis that supports reliable corporate strategic decisions.
We provide responsive, dedicated after-sales support to resolve all follow-up inquiries about reports, data and industry interpretation.
TABLE OF CONTENTS
1 Study Coverage
1.1 Introduction to Luzhou-Flavored Baijiu Lees: Definition, Properties, and Key Attributes
1.2 Market Segmentation by Type
1.2.1 Global Luzhou-Flavored Baijiu Lees Market Size by Type, 2020 VS 2024 VS 2031
1.2.2 Dried Distillers Grain
1.2.3 Wet Distillers Grains
1.3 Market Segmentation by Application
1.3.1 Global Luzhou-Flavored Baijiu Lees Market Size by Application, 2020 VS 2024 VS 2031
1.3.2 Feed
1.3.3 Fertilizer
1.3.4 Edible Fungus Culture Medium
1.3.5 Brewing
1.3.6 Biogas
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Executive Summary
2.1 Global Luzhou-Flavored Baijiu Lees Revenue Estimates and Forecasts 2020-2031
2.2 Global Luzhou-Flavored Baijiu Lees Revenue by Region
2.2.1 Revenue Comparison: 2020 VS 2024 VS 2031
2.2.2 Historical and Forecasted Revenue by Region (2020--2031)
2.2.3 Global Revenue Market Share by Region (2020-2031)
2.3 Global Luzhou-Flavored Baijiu Lees Sales Estimates and Forecasts 2020-2031
2.4 Global Luzhou-Flavored Baijiu Lees Sales by Region
2.4.1 Sales Comparison: 2020 VS 2024 VS 2031
2.4.2 Historical and Forecasted Sales by Region (2020-2031)
2.4.3 Emerging Market Focus: Growth Drivers & Investment Trends
2.4.4 Global Sales Market Share by Region (2020-2031)
3 Global Production Analysis
3.1 Global Luzhou-Flavored Baijiu Lees Production Capacity and Utilization Rates (2020–2031)
3.2 Regional Production: Comparative Analysis (2020 VS 2024 VS 2031)
3.3 Regional Production Dynamics
3.3.1 Historic Production by Region (2020-2025)
3.3.2 Forecasted Production by Region (2026-2031)
3.3.3 Production Market Share by Region (2020-2031)
3.3.4 Regulatory and Trade Policy Impact on Production
3.3.5 Production Capacity Enablers and Constraints
3.4 Key Regional Production Hubs
3.4.1 China
4 Competition by Manufacturers
4.1 Global Luzhou-Flavored Baijiu Lees Sales by Manufacturers
4.1.1 Global Sales Volume by Manufacturers (2020-2025)
4.1.2 Global Top 5 and Top 10 Manufacturers’Market Share by Sales Volume (2024)
4.2 Global Luzhou-Flavored Baijiu Lees Manufacturer Revenue Rankings and Tiers
4.2.1 Global Revenue (Value) by Manufacturers (2020-2025)
4.2.2 Global Key Manufacturer Revenue Ranking (2023 vs. 2024)
4.2.3 Revenue-Based Tier Segmentation (Tier 1, Tier 2, and Tier 3)
4.3 Manufacturer Profitability Profiles and Pricing Strategies
4.3.1 Gross Margin by Top Manufacturer (2020 VS 2024)
4.3.2 Manufacturer-Level Price Trends (2020-2025)
4.4 Key Manufacturers Manufacturing Base and Headquarters
4.5 Main Product Type Market Size by Manufacturers
4.5.1 Dried Distillers Grain Market Size by Manufacturers
4.5.2 Wet Distillers Grains Market Size by Manufacturers
4.6 Global Luzhou-Flavored Baijiu Lees Market Concentration and Dynamics
4.6.1 Global Market Concentration (CR5 and HHI)
4.6.2 Entrant/Exit Impact Analysis
4.6.3 Strategic Moves: M&A, Capacity Expansion, R&D Investment
5 Global Product Segmentation Analysis
5.1 Global Luzhou-Flavored Baijiu Lees Sales Performance by Type
5.1.1 Global Historical and Forecasted Sales by Type (2020-2031)
5.1.2 Global Sales Market Share by Type (2020-2031)
5.2 Global Luzhou-Flavored Baijiu Lees Revenue Trends by Type
5.2.1 Global Historical and Forecasted Revenue by Type (2020-2031)
5.2.2 Global Revenue Market Share by Type (2020-2031)
5.3 Global Average Selling Price (ASP) Trends by Type (2020-2031)
5.4 Product Technology Differentiation
5.5 Subtype Dynamics: Growth Leaders, Profitability and Risk
5.5.1 High-Growth Niches and Adoption Drivers
5.5.2 Profitability Hotspots and Cost Drivers
5.5.3 Substitution Threats
6 Global Downstream Application Analysis
6.1 Global Luzhou-Flavored Baijiu Lees Sales by Application
6.1.1 Global Historical and Forecasted Sales by Application (2020-2031)
6.1.2 Global Sales Market Share by Application (2020-2031)
6.1.3 High-Growth Application Identification
6.1.4 Emerging Application Case Studies
6.2 Global Luzhou-Flavored Baijiu Lees Revenue by Application
6.2.1 Global Historical and Forecasted Revenue by Application (2020-2031)
6.2.2 Revenue Market Share by Application (2020-2031)
6.3 Global Pricing Dynamics by Application (2020-2031)
6.4 Downstream Customer Analysis
6.4.1 Top Customers by Region
6.4.2 Top Customers by Application
7 North America
7.1 North America Sales Volume and Revenue (2020-2031)
7.2 North America Key Manufacturers Sales Revenue in 2024
7.3 North America Luzhou-Flavored Baijiu Lees Sales and Revenue by Type (2020-2031)
7.4 North America Luzhou-Flavored Baijiu Lees Sales and Revenue by Application (2020-2031)
7.5 North America Growth Accelerators and Market Barriers
7.6 North America Luzhou-Flavored Baijiu Lees Market Size by Country
7.6.1 North America Revenue by Country
7.6.2 North America Sales Trends by Country
7.6.3 US
7.6.4 Canada
7.6.5 Mexico
8 Europe
8.1 Europe Sales Volume and Revenue (2020-2031)
8.2 Europe Key Manufacturers Sales Revenue in 2024
8.3 Europe Luzhou-Flavored Baijiu Lees Sales and Revenue by Type (2020-2031)
8.4 Europe Luzhou-Flavored Baijiu Lees Sales and Revenue by Application (2020-2031)
8.5 Europe Growth Accelerators and Market Barriers
8.6 Europe Luzhou-Flavored Baijiu Lees Market Size by Country
8.6.1 Europe Revenue by Country
8.6.2 Europe Sales Trends by Country
8.6.3 Germany
8.6.4 France
8.6.5 U.K.
8.6.6 Italy
8.6.7 Russia
9 Asia-Pacific
9.1 Asia-Pacific Sales Volume and Revenue (2020-2031)
9.2 Asia-Pacific Key Manufacturers Sales Revenue in 2024
9.3 Asia-Pacific Luzhou-Flavored Baijiu Lees Sales and Revenue by Type (2020-2031)
9.4 Asia-Pacific Luzhou-Flavored Baijiu Lees Sales and Revenue by Application (2020-2031)
9.5 Asia-Pacific Luzhou-Flavored Baijiu Lees Market Size by Region
9.5.1 Asia-Pacific Revenue by Region
9.5.2 Asia-Pacific Sales Trends by Region
9.6 Asia-Pacific Growth Accelerators and Market Barriers
9.7 Southeast Asia
9.7.1 Southeast Asia Revenue by Country (2020 VS 2024 VS 2031)
9.7.2 Key Country Analysis: Indonesia, Vietnam, Thailand
9.8 China
9.9 Japan
9.10 South Korea
9.11 China Taiwan
9.12 India
10 Central and South America
10.1 Central and South America Sales Volume and Revenue (2020-2031)
10.2 Central and South America Key Manufacturers Sales Revenue in 2024
10.3 Central and South America Luzhou-Flavored Baijiu Lees Sales and Revenue by Type (2020-2031)
10.4 Central and South America Luzhou-Flavored Baijiu Lees Sales and Revenue by Application (2020-2031)
10.5 Central and South America Investment Opportunities and Key Challenges
10.6 Central and South America Luzhou-Flavored Baijiu Lees Market Size by Country
10.6.1 Central and South America Revenue Trends by Country (2020 VS 2024 VS 2031)
10.6.2 Brazil
10.6.3 Argentina
11 Middle East and Africa
11.1 Middle East and Africa Sales Volume and Revenue (2020-2031)
11.2 Middle East and Africa Key Manufacturers Sales Revenue in 2024
11.3 Middle East and Africa Luzhou-Flavored Baijiu Lees Sales and Revenue by Type (2020-2031)
11.4 Middle East and Africa Luzhou-Flavored Baijiu Lees Sales and Revenue by Application (2020-2031)
11.5 Middle East and Africa Investment Opportunities and Key Challenges
11.6 Middle East and Africa Luzhou-Flavored Baijiu Lees Market Size by Country
11.6.1 Middle East and Africa Revenue Trends by Country (2020 VS 2024 VS 2031)
11.6.2 GCC Countries
11.6.3 Turkey
11.6.4 Egypt
11.6.5 South Africa
12 Corporate Profile
12.1 Wuliangye Group
12.1.1 Wuliangye Group Corporation Information
12.1.2 Wuliangye Group Business Overview
12.1.3 Wuliangye Group Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.1.4 Wuliangye Group Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.1.5 Wuliangye Group Luzhou-Flavored Baijiu Lees Sales by Product in 2024
12.1.6 Wuliangye Group Luzhou-Flavored Baijiu Lees Sales by Application in 2024
12.1.7 Wuliangye Group Luzhou-Flavored Baijiu Lees Sales by Geographic Area in 2024
12.1.8 Wuliangye Group Luzhou-Flavored Baijiu Lees SWOT Analysis
12.1.9 Wuliangye Group Recent Developments
12.2 Luzhou Laojiao
12.2.1 Luzhou Laojiao Corporation Information
12.2.2 Luzhou Laojiao Business Overview
12.2.3 Luzhou Laojiao Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.2.4 Luzhou Laojiao Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.2.5 Luzhou Laojiao Luzhou-Flavored Baijiu Lees Sales by Product in 2024
12.2.6 Luzhou Laojiao Luzhou-Flavored Baijiu Lees Sales by Application in 2024
12.2.7 Luzhou Laojiao Luzhou-Flavored Baijiu Lees Sales by Geographic Area in 2024
12.2.8 Luzhou Laojiao Luzhou-Flavored Baijiu Lees SWOT Analysis
12.2.9 Luzhou Laojiao Recent Developments
12.3 Shede Spirits
12.3.1 Shede Spirits Corporation Information
12.3.2 Shede Spirits Business Overview
12.3.3 Shede Spirits Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.3.4 Shede Spirits Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.3.5 Shede Spirits Luzhou-Flavored Baijiu Lees Sales by Product in 2024
12.3.6 Shede Spirits Luzhou-Flavored Baijiu Lees Sales by Application in 2024
12.3.7 Shede Spirits Luzhou-Flavored Baijiu Lees Sales by Geographic Area in 2024
12.3.8 Shede Spirits Luzhou-Flavored Baijiu Lees SWOT Analysis
12.3.9 Shede Spirits Recent Developments
12.4 Gujing Group
12.4.1 Gujing Group Corporation Information
12.4.2 Gujing Group Business Overview
12.4.3 Gujing Group Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.4.4 Gujing Group Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.4.5 Gujing Group Luzhou-Flavored Baijiu Lees Sales by Product in 2024
12.4.6 Gujing Group Luzhou-Flavored Baijiu Lees Sales by Application in 2024
12.4.7 Gujing Group Luzhou-Flavored Baijiu Lees Sales by Geographic Area in 2024
12.4.8 Gujing Group Luzhou-Flavored Baijiu Lees SWOT Analysis
12.4.9 Gujing Group Recent Developments
12.5 Jiangsu King's Luck Brewery
12.5.1 Jiangsu King's Luck Brewery Corporation Information
12.5.2 Jiangsu King's Luck Brewery Business Overview
12.5.3 Jiangsu King's Luck Brewery Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.5.4 Jiangsu King's Luck Brewery Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.5.5 Jiangsu King's Luck Brewery Luzhou-Flavored Baijiu Lees Sales by Product in 2024
12.5.6 Jiangsu King's Luck Brewery Luzhou-Flavored Baijiu Lees Sales by Application in 2024
12.5.7 Jiangsu King's Luck Brewery Luzhou-Flavored Baijiu Lees Sales by Geographic Area in 2024
12.5.8 Jiangsu King's Luck Brewery Luzhou-Flavored Baijiu Lees SWOT Analysis
12.5.9 Jiangsu King's Luck Brewery Recent Developments
12.6 Yanghe Distillery
12.6.1 Yanghe Distillery Corporation Information
12.6.2 Yanghe Distillery Business Overview
12.6.3 Yanghe Distillery Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.6.4 Yanghe Distillery Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.6.5 Yanghe Distillery Recent Developments
12.7 Jiannanchun
12.7.1 Jiannanchun Corporation Information
12.7.2 Jiannanchun Business Overview
12.7.3 Jiannanchun Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.7.4 Jiannanchun Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.7.5 Jiannanchun Recent Developments
12.8 Guizhou Yaxi Wine Industry
12.8.1 Guizhou Yaxi Wine Industry Corporation Information
12.8.2 Guizhou Yaxi Wine Industry Business Overview
12.8.3 Guizhou Yaxi Wine Industry Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.8.4 Guizhou Yaxi Wine Industry Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.8.5 Guizhou Yaxi Wine Industry Recent Developments
12.9 Guizhou Xijiu
12.9.1 Guizhou Xijiu Corporation Information
12.9.2 Guizhou Xijiu Business Overview
12.9.3 Guizhou Xijiu Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.9.4 Guizhou Xijiu Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.9.5 Guizhou Xijiu Recent Developments
12.10 Guizhou Guijiu
12.10.1 Guizhou Guijiu Corporation Information
12.10.2 Guizhou Guijiu Business Overview
12.10.3 Guizhou Guijiu Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.10.4 Guizhou Guijiu Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.10.5 Guizhou Guijiu Recent Developments
12.11 Guizhou Anjiu
12.11.1 Guizhou Anjiu Corporation Information
12.11.2 Guizhou Anjiu Business Overview
12.11.3 Guizhou Anjiu Luzhou-Flavored Baijiu Lees Product Models, Descriptions and Specifications
12.11.4 Guizhou Anjiu Luzhou-Flavored Baijiu Lees Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.11.5 Guizhou Anjiu Recent Developments
13 Value Chain and Supply-Chain Analysis
13.1 Luzhou-Flavored Baijiu Lees Industry Chain
13.2 Luzhou-Flavored Baijiu Lees Upstream Materials Analysis
13.2.1 Raw Materials
13.2.2 Key Suppliers Market Share & Risk Assessment
13.3 Luzhou-Flavored Baijiu Lees Integrated Production Analysis
13.3.1 Manufacturing Footprint Analysis
13.3.2 Production Technology Overview
13.3.3 Regional Cost Drivers
13.4 Luzhou-Flavored Baijiu Lees Sales Channels and Distribution Networks
13.4.1 Sales Channels
13.4.2 Distributors
14 Luzhou-Flavored Baijiu Lees Market Dynamics
14.1 Industry Trends and Evolution
14.2 Market Growth Drivers and Emerging Opportunities
14.3 Market Challenges, Risks, and Restraints
15 Key Findings in the Global Luzhou-Flavored Baijiu Lees Study
16 Appendix
16.1 Research Methodology
16.1.1 Methodology/Research Approach
16.1.1.1 Research Programs/Design
16.1.1.2 Market Size Estimation
16.1.1.3 Market Breakdown and Data Triangulation
16.1.2 Data Source
16.1.2.1 Secondary Sources
16.1.2.2 Primary Sources
16.2 Author Details
TABLE OF FIGURES
List of Tables
List of Figures
KEY QUESTIONS ADDRESSED BY THE REPORT
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REPORT COVERAGE
DESCRIPTION
OVERVIEW
MARKET SEGMENTATION
CHAPTER OUTLINE
WHY THIS REPORT
QYRESEARCH'S STRENGTHS
TABLE OF CONTENTS
TABLE OF FIGURES
RLEATED REPORTS
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