KWEICHOW MOUTAI(SH:600519) Shang Hai Zheng Quan Bao·2025-08-13 02:00Core Insights - Guizhou Moutai's pre-receipt payments decreased to 5.507 billion yuan as of June 30, down from 9.592 billion yuan at the beginning of the year, indicating a focus on stable and sustainable development with channel partners [2] - The company emphasizes the importance of its distributor network, which has been crucial for its growth, and aims to enhance collaboration and support for distributors to navigate market challenges [2][3] - Moutai's management has committed to long-term cooperation with channel partners, fostering a community of shared interests and values to ensure mutual benefits and resilience during market adjustments [2][3] Summary by Sections Financial Performance - As of June 30, pre-receipt payments were reported at 5.507 billion yuan, a decline from 9.592 billion yuan at the start of the year [2] Distributor Relations - The company recognizes the critical role of distributors in its growth and aims to provide better service and support to address their challenges in market expansion and product sales [2] - Moutai's leadership highlighted the importance of a strong distributor network as a key asset for risk management and navigating adjustment cycles [2] Strategic Initiatives - Moutai is committed to maintaining close communication and collaboration with channel partners, focusing on building a community of shared interests and emotional connections to achieve value co-creation [2][3] - The company actively engages in risk-sharing with partners, reinforcing its commitment to mutual support during challenging industry conditions [3]