茅台股东大会直击·人物特写丨还是一身深色中山装，张德芹：“请各位老板放心，茅台不会辜负期望”

Core Viewpoint - Guizhou Moutai held its 2024 annual shareholder meeting, showcasing its resilience and strategic adjustments amid a challenging white liquor industry environment, with revenue and net profit growth exceeding 15% [2][11]. Group 1: Company Leadership and Strategy - Chairman Zhang Deqin expressed gratitude to shareholders and emphasized the importance of maintaining the Moutai brand, urging for support and understanding from investors [2][9]. - Zhang highlighted the company's commitment to quality, stating that quality is the "soul of life" for Moutai, and this principle is deeply ingrained in the company's culture [8][9]. - The company aims for a revenue growth target of approximately 9% by 2025, reflecting a cautious yet optimistic outlook [2]. Group 2: Industry Context and Challenges - The white liquor industry is currently undergoing a deep adjustment period, prompting Moutai to adopt a prudent strategy to navigate these challenges [2][11]. - Zhang acknowledged the changing consumption scenarios and investor concerns, assuring that Moutai's quality, culture, and foundational strengths remain intact [11][12]. Group 3: Marketing and Innovation - Moutai is transitioning from a focus on selling liquor to promoting a lifestyle, aligning with government guidance to adapt to market changes [12]. - The company has introduced a new marketing model and committed to a minimum dividend payout of 75% over the next three years, indicating a focus on shareholder returns [12].