KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-08-07 15:22Core Viewpoint - The high-end liquor market in China is facing significant challenges in 2025, characterized by price inversion and consumption differentiation, yet Guizhou Moutai is strategically launching a limited edition commemorative liquor to counteract these trends and reinforce its brand value [1][6]. Group 1: Product Launch Details - Guizhou Moutai will release the "Guizhou Moutai (Five-Star Trademark 70th Anniversary Commemorative) liquor" on August 8, 2025, priced around 7,000 yuan, with a limited quantity of 25,568 bottles, each uniquely coded to represent specific dates from 1954 to 2024 [3][6]. - The unique coding mechanism transforms historical significance into collectible "time assets," enhancing the product's investment value beyond traditional limited editions [10]. Group 2: Strategic Positioning - The launch of the high-end commemorative liquor aims to reconstruct the pricing pyramid, differentiating it from regular products to protect brand value amidst declining prices of standard offerings [6][9]. - The strategy contrasts with previous failures, such as the zodiac liquor, by ensuring scarcity through unique coding, thus avoiding market oversupply and preserving brand image [9]. Group 3: Direct Sales and Channel Control - The sale will be exclusively through the i Moutai app, eliminating traditional distributors and preventing speculative hoarding, which has previously disrupted market prices [12][14]. - Moutai's direct sales model has significantly reduced distributor profits and narrowed price discrepancies, allowing for better control over product distribution and pricing [14]. Group 4: Channel Transformation - Moutai is undergoing a channel transformation, moving from reliance on distributors to direct consumer connections, with a goal of increasing direct sales to over 60% by 2026 [12][16]. - The company is setting higher entry barriers for new distributors and implementing exclusive regional protections to enhance operational efficiency and support quality distributors [16]. Group 5: Digital Infrastructure - The i Moutai app has surpassed 50 million registered users, serving as a crucial platform for product launches and market feedback collection, thereby enhancing consumer engagement [17]. - The app's transparent purchasing mechanism for limited editions ensures orderly sales and strengthens the brand's connection with consumers [17]. Conclusion - The launch of the commemorative liquor represents a significant strategic move for Moutai, showcasing its adaptability and commitment to maintaining brand value amidst market pressures, while also achieving a closed-loop in its ecosystem of industry, product, and channel [18].