基酒产量近几年首降？茅台回应了……

Group 1 - The core viewpoint of the news is that Guizhou Moutai has reported a revenue of 170.9 billion yuan for 2024, marking a year-on-year growth of 15.71% [1] - The revenue breakdown shows that the Moutai liquor segment, primarily consisting of Feitian Moutai, generated approximately 145.9 billion yuan, while the series liquor segment, including products like Moutai Prince and Laimao, accounted for about 24.6 billion yuan [1] - The production of base liquor for Moutai saw a decline of about 900 tons year-on-year, totaling approximately 56,300 tons, which is the first decrease in recent years [1] Group 2 - The company plans to invest around 15.5 billion yuan in the "Moutai Liquor 14th Five-Year Technological Transformation Project," which aims to construct 68 distillation buildings, 10 fermentation buildings, and 69 storage facilities, potentially increasing actual production capacity by about 19,800 tons per year and storage capacity by approximately 84,700 tons [1] - In the context of cyclical adjustments in the liquor industry, the wholesale price of Feitian Moutai fluctuated last year, with market prices during traditional sales peaks like the Mid-Autumn Festival and National Day not matching previous years, leading to an increase in inventory [2] - The finished liquor inventory reached 17,760 tons last year, reflecting a year-on-year increase of 27%, the largest increase in recent years, while the overall inventory turnover days rose from 1,293 days to 1,316 days [2]