2. 美国总统特朗普表示，已经取消所有与伊朗官员的会谈。美国国务院此前已要求美国公民立即离开伊朗。 伊朗陆军总司令哈塔米称，经历此前以伊冲 突后，伊朗武装力量在应对相关安全威胁方面的能力已显著提升。联合国秘书长发言人迪雅里克表示，联合国对围绕伊朗局势出现的动武言论表示担忧。 3. 美联储主席鲍威尔遭刑事调查一事继续发酵。美联储前主席等多名美国前财经要员发表联合声明，批评特朗普政府对鲍威尔发起刑事调查。 全球多家 央行行长正在草拟一份声明，以声援美联储主席鲍威尔。美国总统特朗普则表示， 鲍威尔超预算了几十亿美元，这不是无能就是腐败。特朗普称，将在 未来几周内宣布下任美联储主席的人选。 1. 1月13日，A股震荡走低，成交额仍创新高。截至收盘，上证指数下跌0.64%报4138.76点，结束17连阳；深证成指跌1.37%，创业板指跌1.96%，万得全 A跌1.18%。A股全天成交3.7万亿元，刷新历史新高。 商业航天概念股掀跌停潮。AI应用题材延续强势，创新药、医疗服务概念股同步上涨；贵金属、大 金融走强。 1. 美国总统特朗普威胁对与伊朗有商业往来的国家征收25%的关税。外交部发言人毛宁回应表示，中方将坚定维护自 ...

// 热点头条 // 1.英伟达：据美国联邦公报显示，美国放宽了对英伟达H200芯片出口到中国的监管规定。英伟达发布声 明回应市场传闻称，公司"永远不会要求客户为未收到的产品付款"。此前有消息称，英伟达对某些客户 提出严苛条款，要求全额预付款，且不得取消订单、申请退款或在下单后更改配置。 1. 德邦股份：拟主动终止上市，现金选择权股权登记日拟定为2026年2月6日，股票将于1月14日复牌， 对融资融券信用证券账户等投资者参与现金选择权申报事项作出提示，此次退市有利于公司优化资本结 构。 2. 富临精工：拟向宁德时代定增募资31.75亿元，发行价格13.62元/股，用于年产50万吨高端储能用磷酸 铁锂等项目，发行完成后宁德时代预计持股超5%，构成关联交易，此举将进一步深化双方在新能源领 域的合作。 3. 佰维存储：预计2025年净利润8.5亿元至10亿元，同比增加427.19%至520.22%；第四季度单季度净利 润预计8.2亿元至9.7亿元，同比增长1225.40%至1449.67%，环比增长219.89%至278.43%，业绩大幅增长 主要受益于存储芯片市场需求回升及公司产品竞争力提升。 4. 立讯精密：因 ...

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 （来源：中国消费者报） 本报福州讯（罗玲 记者张文章）近期，福建省连城县市场监管局联合多家酒企在连城县开展打击假冒 伪劣白酒专项执法行动。截至1月12日，共计检查相关经营主体30余家，依法扣押各类侵权白酒284瓶， 涉案店铺已被立案，案件正在进一步调查处理中。 为贯彻落实福建省市场监管系统"铁拳"行动部署，持续净化市场环境，近日，连城县市场监管局深化政 企联动打假机制，联合贵州茅台、习酒、洋河等酒企的专业打假人员，以名烟名酒店、酒类专卖店及大 型商超作为重点检查对象，开展打击假冒伪劣白酒专项执法行动。 检查中，连城县市场监管执法人员核查经营者经营资质、进货票据台账，随行的酒厂打假专员利用其专 业技术，对商品的外观包装、防伪芯片、瓶盖工艺等细节进行现场快速鉴别。这种"行政执法+专业鉴 定"的模式极大提升了执法的精准度与效率。此次行动共检查相关经营主体30余家，经厂家人员现场初 步认定，在部分店铺内发现了涉嫌侵犯"茅台""习酒"等注册商标专用权的白酒，执法人员对涉案白酒依 法进行扣押。 ...

Group 1 - The core viewpoint of the article is the approval of the 2026 market-oriented operation plan for Guizhou Moutai, aimed at adapting to market and consumer changes while enhancing the marketing system [3][4] Group 2 - The board meeting was held on January 13, 2026, with all seven directors present, and the meeting complied with relevant laws and regulations [2] - The approved market-oriented operation plan includes a product system that returns to a "pyramid" structure to better meet diverse consumer needs [3] - The product tiers include "base" products focusing on social consumption, "waist" products like premium and zodiac Moutai, and "top" products that maintain high-end value [3] Group 3 - The operation model shifts from a traditional "self-sale + distribution" to a multi-dimensional marketing system including "self-sale + distribution + consignment + consignment" [4] - The channel layout consists of five parallel channels: wholesale, offline retail, online retail, catering, and private domain, aiming for a consumer-centric ecosystem [4] Group 4 - The pricing mechanism is market-oriented, with a dynamic adjustment system for retail prices based on self-sale prices [4][6] - Specific retail prices for various Moutai products are listed, with the 2026 500ml Moutai priced at 1499 yuan per bottle, and previous years' prices provided for comparison [5]

Core Viewpoint - Guizhou Moutai Co., Ltd. is accelerating its market-oriented transformation in 2026, focusing on a consumer-centric and market-driven marketing system to adapt to changing market and consumption trends [1] Group 1: Market-Oriented Operation Plan - The company has approved the "2026 Guizhou Moutai Market-Oriented Operation Plan," which aims to enhance its marketing system in line with market demands [1] - Guizhou Moutai is recognized as a "barometer" of the liquor industry, and its initiatives are drawing significant attention from industry analysts [1] Group 2: Product Structure - The product structure will return to a "pyramid" model, with the base consisting of the flagship 53% vol 500ml Moutai liquor, supported by other specifications like 1000ml and 100ml [2] - "Waist" products will include premium and zodiac Moutai liquors, while "tip" products will focus on aged and cultural series, adjusting supply to maintain high-end product value [2] - The 43% vol 500ml Moutai liquor will target key consumption scenarios, regions, and younger demographics [2] Group 3: Operational Model - The operational model will shift from a traditional "self-sale + distribution" approach to a multi-dimensional marketing system that includes "self-sale + distribution + consignment + consignment" [2] Group 4: Channel Layout - Guizhou Moutai will establish a five-channel layout comprising wholesale, offline retail, online retail, dining, and private domain, integrating online and offline strategies [3] - The online platform will enhance efficiency and reach, while offline channels will focus on conversion and service [3] Group 5: Pricing Mechanism - The company will implement a market-oriented pricing mechanism, establishing a dynamic adjustment system for retail prices based on market conditions [3] - The price for the 53% vol 500ml Moutai liquor in 2026 is set at 1499 yuan per bottle, significantly lower than the 2649 yuan price in 2019 [3] - Pricing strategies will be based on a scientific assessment of channel profit margins and operational costs [3] Group 6: Dynamic Pricing System - Guizhou Moutai is seeking to navigate the challenges in the liquor industry by emphasizing a market-oriented transformation under the new chairman Chen Hua [4] - The "i Moutai" platform will serve as a key digital marketing tool, with the 53-degree flying Moutai liquor already selling out at the official price of 1499 yuan [4] - The new pricing system aims to create a flexible supply-side dynamic pricing structure, moving away from traditional pricing models [4] Group 7: Brand and Market Control - The company is strengthening terminal price control through direct sales channels to reduce speculation and reshape market order [5] - By leveraging digital tools to reach consumers, Guizhou Moutai aims to build a private brand traffic pool and minimize reliance on intermediaries [5]

Core Viewpoint - Guizhou Moutai has announced a market-oriented operational plan for 2026, focusing on product structure, operational model, channel layout, and pricing mechanism adjustments to better align with market and consumer trends [2][5]. Product Structure - The plan emphasizes a return to a "pyramid" product structure, with the 53-degree 500ml Flying Moutai as the base product, enhancing its social consumption attributes and collectible value [3][5]. - The product tiers include "tower base" products, "tower waist" products like boutique and zodiac Moutai, and "tower top" products such as aged and cultural series, with a focus on maintaining the value of high-end products [3][5]. Operational Model - The operational model is shifting from a traditional "self-sale + distribution" approach to a multi-faceted marketing system that includes "self-sale + distribution + consignment + consignment" to better meet consumer demands [3][7]. - The self-sale model will utilize self-operated stores and the iMoutai platform to sell the full range of Moutai products [3][7]. Pricing Mechanism - A dynamic pricing adjustment mechanism will be established to ensure retail prices are responsive to market conditions, aiming to regain pricing power and reduce the influence of scalpers [5][8]. - The pricing for various Moutai products has been made public, with significant reductions noted, such as the zodiac Moutai being priced at 1899 yuan, down from 2499 yuan for the previous year's zodiac product [4][5]. Channel Layout - The plan outlines a channel layout that integrates online and offline sales, with five main channels: wholesale, offline retail, online retail, catering, and private domain [7]. - The role of distributors will evolve from traditional stockpiling to service-oriented roles, focusing on delivery and promotional activities [7][8].

Core Viewpoint - Guizhou Moutai has announced a significant marketing transformation plan aimed at adapting to market and consumer changes, focusing on a consumer-centric and demand-driven approach for 2026 [2] Product System - The product structure will revert to a "pyramid" model to better meet diverse consumer needs, with the "base" products centered around the 500ml Flying Moutai at 53 degrees, supported by other sizes [3] - "Waist" products will include premium and zodiac Moutai, with plans to establish premium Moutai as a major product and stimulate interest in zodiac Moutai for collection [3] - "Peak" products will consist of aged and cultural series Moutai, with a focus on maintaining and enhancing the value of ultra-high-end products through market-driven adjustments [3] Operational Model - The sales model will shift from a traditional "self-sale + distribution" approach to a multi-faceted marketing system that includes "self-sale + distribution + consignment + consignment," eliminating the previous distribution model [5] - The self-sale model will utilize self-operated stores and the iMoutai app, while the distribution model will define sales volume and designated sales areas [5] Channel Layout - A five-channel layout will be established, including wholesale, offline retail, online retail, dining, and private domains, integrating online and offline strategies to create a consumer-centric ecosystem [5] Pricing Mechanism - A market-oriented pricing mechanism will be implemented, allowing for dynamic adjustments to retail prices based on market conditions, with recent price reductions for several products [4][7] - The latest retail prices for 15 products have been published, with significant reductions such as the premium Moutai now priced at 2299 yuan, down 1000 yuan, and the 1L Flying Moutai reduced by approximately 21% to 2989 yuan [7][8]

Group 1 - The core transaction of Guizhou Moutai on January 13 involved a block trade of 16,500 shares, amounting to 23.2815 million yuan, with a transaction price of 1,411.00 yuan per share [2][3] - Over the past three months, Guizhou Moutai has recorded a total of 12 block trades, with a cumulative transaction value of 115 million yuan [2] - The closing price of Guizhou Moutai on the same day was 1,411.00 yuan, reflecting a decrease of 0.86%, with a daily turnover rate of 0.31% and a total trading volume of 5.556 billion yuan [2] Group 2 - The net outflow of funds for Guizhou Moutai was 417 million yuan for the day, and over the past five days, the stock has seen a cumulative decline of 1.19% with a total net outflow of 813 million yuan [2] - The latest margin financing balance for Guizhou Moutai is 16.528 billion yuan, which has decreased by 376 million yuan over the past five days, representing a decline of 2.23% [3] - Guizhou Moutai was established on November 20, 1999, with a registered capital of 12.5227 billion yuan [3]

21世纪经济报道记者肖夏 2025年末的茅台酒经销商联谊会上，当茅台管理层提出茅台酒的产品价格要"随行就市"时，很多人没能 明白：茅台的价格，难道也能随意变？ 1月13日下午，贵州茅台公告，董事会审议通过了《2026 年贵州茅台酒市场化运营方案》，披露了茅台 酒在产品体系、运营模式、渠道布局、价格机制方面的具体举措。 公告首次明确，在价格机制方面，以市场为导向，将构建"随行就市、相对平稳"的自营体系零售价格动 态调整机制。 公告详细列出了多达15款茅台酒产品的零售价，包括53度500ml飞天茅台这一大单品，并且表示"当前自 营体系零售价已在i 茅台和自营店执行。" 这些产品的零售价，此前已经陆续在上线i茅台后揭晓。21世纪经济报道记者注意到，这些产品的价格 不再锚定以往的指导价，而是基本接近相关产品（同系列产品）当前的市场价。 这是茅台酒价格历史的又一次重大变化，在过去几年被所谓批发价牵着走后，茅台正在努力拿回价格的 主导权。 变化之一，"构建零售价格动态调整机制"意味着，未来茅台的产品价格，将不是以一个固定的"指导 价"存在，而是基于市场供需而变化。 在大众认知中，茅台的产品一般都有一个固定的价格，每隔几年 ...

Core Viewpoint - Guizhou Moutai has announced a market-oriented operational plan for 2026, focusing on a dynamic pricing mechanism and a pyramid product structure to enhance consumer service and optimize its sales channels [1][3]. Group 1: Product Structure - The company will revert to a "pyramid" product structure, with the base consisting of the flagship Moutai liquor, supported by various other specifications to enhance social consumption attributes [1]. - The mid-tier products will include premium and zodiac-themed Moutai, aiming to stimulate demand for collectible items [1]. - High-end products will focus on maintaining and enhancing their value by adjusting supply based on market demand [1]. Group 2: Operational Model - The sales model will transition from a traditional "self-sale + distribution" approach to a multi-faceted system that includes self-sale, distribution, consignment, and consignment sales [2]. - The self-sale model will focus on direct sales through self-operated stores and the iMoutai platform, targeting both consumer and business segments [2]. - The distribution model will clarify sales volume and designated sales areas, while the consignment model will enhance regional coverage without transferring ownership [2]. Group 3: Channel Layout - The company will establish a five-channel layout comprising wholesale, offline retail, online retail, dining, and private domain sales, integrating online and offline strategies to create a consumer-centric ecosystem [2]. Group 4: Pricing Mechanism - A dynamic pricing mechanism will be implemented, allowing for adjustments based on market conditions to create a more stable retail price environment [2][3]. - The pricing strategy aims to address the significant price gap between factory prices and retail prices, which has led to issues such as speculation and excessive profits [3]. - The new pricing mechanism is expected to reduce irrational arbitrage opportunities and establish a healthier pricing formation system [3]. Group 5: Impact on Distributors and Consumers - The company will optimize the profit structure for distributors, ensuring reasonable and stable earnings while eliminating support for excessive profits [4]. - Consumers will benefit from improved official channel construction and dynamic pricing, allowing for fairer access to products [5]. - The new pricing mechanism will shift the role of distributors from "sitting merchants" to "active merchants," focusing on service rather than profit from price differences [5]. Group 6: Recent Price Adjustments - Prior to the announcement of the operational plan, the company reduced the contract prices for several products, with some reductions exceeding 1,000 yuan [5]. - For example, the factory price of premium Moutai was lowered from 2,969 yuan per bottle to 1,859 yuan, and the retail guidance price was adjusted from 3,299 yuan to 2,299 yuan [5]. - The price adjustments primarily targeted non-standard products and series wines, which have been underperforming in terms of profitability [6].