贵州茅台联营公司计划暂停？它如此回应

Core Viewpoint - Kweichow Moutai plans to establish joint venture companies in various provinces to stabilize market prices and develop customized cultural products, but the initiative has reportedly been paused, raising concerns among stakeholders [1][2]. Group 1: Joint Venture Plans - Kweichow Moutai aims to set up joint venture companies with registered capital ranging from 50 million to 100 million yuan, led by provincial distributors [1]. - The joint venture initiative is intended to support price stability for Moutai liquor and promote the development of local cultural products [3]. - The plan was expected to be launched in the fourth quarter of 2025, but reports indicate that it has been temporarily halted, with reasons still unclear [2]. Group 2: Market Context and Challenges - The liquor industry is facing multiple pressures, including policy adjustments, changes in consumer structure, and intensified competition, necessitating proactive responses from companies [3]. - Kweichow Moutai has set a performance growth target of 9% for 2025, which is a slowdown compared to the 15% target for 2024, reflecting the overall deceleration in the industry [4]. - The company is focusing on maintaining price control and enhancing operational efficiency through the establishment of joint ventures, similar to actions taken by other major players like Wuliangye [4]. Group 3: Online Sales Channels - Kweichow Moutai's online sales platform, "i Moutai," has become a significant driver of growth, with sales revenue reaching 22.374 billion yuan in 2023, a year-on-year increase of 88.29% [8]. - The company is actively engaging with e-commerce platforms to stabilize pricing and enhance sales, as evidenced by recent visits to major platforms like JD.com and Alibaba [12]. - The online channel has transitioned from a supplementary sales avenue to a key growth engine for the industry, with many companies increasing their direct sales proportions [8].