刚刚！贵州茅台，突传重磅！

Company Strategy - The company plans to adjust the supply of Feitian 53° 500ml, Zhenpin, and Feitian 53° 1000ml Maotai in 2025 to strengthen the base position of the core product in the olive-shaped product matrix and enhance consumer reach efficiency [1][2] - New products, including the Yisi Snake Year Zodiac Wine and Shengle Feitian Maotai, will be officially launched on January 5, 2025 [1][2] - The company aims to target the catering channel and international market, leveraging cultural resources such as scenic spots, world cultural and natural heritage sites, and museums to develop cultural and creative products and new "Into the Series" products [2] - The company will focus on expanding the product line of Maotai 1935 and initiate the business of sealed altar wine, while Maotai Prince Wine will target the mass consumption range of 200 to 500 yuan, aiming to cultivate it into another heavyweight billion-yuan product within two years [3] - The company will strengthen channel construction, optimize the product matrix, enhance brand promotion, improve policy services, and expand the overseas market [4] - The company will provide more market resource support to Maotai sauce-flavored liquor in 2025, such as expanding the sales team, deepening channels, and increasing the proportion of supermarket displays [4] - The company will focus on the "supply-demand adaptation" strategy, leveraging its self-operated system (including self-operated companies, iMaotai, and major clients) and social channels (including distributors, supermarkets, department stores, tobacco, catering, and e-commerce) to achieve channel complementarity [7] - The company is committed to building six systems for internationalization: brand promotion, legal, product, channel, price, and policy systems, aiming to achieve comprehensive internationalization by 2035 [7] - The company has established a "T"-shaped overseas product matrix, with 53° and 43° as the pillars, horizontally exporting high-value-added products and Maotai Prince Wine series products with influence in overseas markets [7] Financial Performance - The company implemented its first "interim dividend" in early November, distributing cash dividends of 23.882 yuan per share (including tax), totaling 30.001 billion yuan (including tax) [6][9] - The company plans to repurchase shares worth between 3 billion and 6 billion yuan using its own funds and cancel the repurchased shares to reduce registered capital [6][9] - Maotai sauce-flavored liquor achieved revenue of 19.393 billion yuan in the first three quarters of 2022, a year-on-year increase of 24.36%, exceeding the overall revenue growth rate of 16.77% [13] Product Development - The company launched the "Winter·Qiongfei Dance" product from the Maotai Winter Series cultural products on December 4, marking the completion of all 24 products in the Maotai Spring/Summer/Autumn/Winter Series cultural wine [11] - Users can participate in related activities on the Xunfeng platform starting from December 5 to obtain the digital-physical fusion product of "Winter·Qiongfei Dance" [11] Market and Industry Insights - The company emphasizes quality and brand, actively addressing short-term supply-demand adaptation issues and increasing consumer reach through ten channels (four self-operated systems and six social distribution systems) [12] - The company plans to introduce innovative products and deeply explore incremental demand to effectively respond to growth challenges, with a more stable business target expected for the next year [12] - The company's internationalization strategy has upgraded from "product export" to "brand globalization," which is expected to gradually contribute to performance growth [12]