KWEICHOW MOUTAI(600519) 广州日报·2025-05-13 08:57Core Viewpoint - Guizhou Moutai has entered a transition period from high-speed growth to high-quality development, setting a revenue growth target of 9% for 2025 [2] Group 1: Company Strategy - The company aims to enhance the core of Moutai 1935 by focusing on consumer needs, improving sales dynamics, and enhancing the consumption experience [3] - Moutai believes in fostering a rational consumption ecosystem in the liquor industry, promoting differentiated development paths through a diverse product matrix [3][4] Group 2: Industry Context - The liquor industry has undergone a transition from growth to adjustment, with market share and resources concentrating among leading enterprises and core production areas [4] - The trend of "rational consumption" is becoming prominent, necessitating the industry to adapt to its characteristics by emphasizing product value and consumer experience [4] Group 3: Sales Channels - The "i Moutai" digital marketing platform reported a sales revenue of 20.02 billion yuan in 2024, a decrease of 10.51% year-on-year, with costs rising by 25.89% [5] - The platform has generated over 60 billion yuan in cumulative sales since its launch, with over 76 million registered users [5] - The decline in direct sales revenue in 2024 is attributed to an increase in the wholesale channel's revenue share due to a price adjustment in November 2023 [6] Group 4: Marketing and Promotion - The company currently has no plans to use celebrity endorsements for marketing, although a collaboration with a celebrity for a cultural event is scheduled [7]