Core Viewpoint - The company has launched a new strategic product "Dazhen·Zhenjiu" priced at 888 RMB, targeting the market for high-quality liquor priced around 2000 RMB, responding to rational consumption trends [1] Group 1: Product Launch and Market Strategy - The new product features a five-year base liquor and is complemented by over 20 years of aged liquor for flavoring, emphasizing its rarity and quality [1] - The product's packaging design is minimalist, enhancing its high-end recognition, and aims to penetrate market demand through its quality-price ratio [1] - The company aims to build a strong trust chain among manufacturers, merchants, and consumers, focusing on creating a market-impacting phenomenon with this product [1] Group 2: Innovative Business Model - The "Wanshang Alliance" model ensures transparent pricing at the terminal level, with strict channel control by the manufacturer to secure high channel profits [2] - The company employs a four-tier supervision mechanism involving sales personnel, alliance merchants, auditors, and headquarters, which has already led to the expulsion of over 20 non-compliant merchants [2] - The company anticipates reaching 5,000 to 8,000 signed merchants by 2026, with current signed merchants at 2,116, and sees potential for further client conversion from competitors [2] Group 3: Marketing and Sales Outlook - The company plans to adjust its marketing strategy in 2025, focusing on inventory clearance, with stable channel order in key provinces like Guizhou, Henan, Hunan, and Guangdong [3] - The company expects sales volume recovery in the future as the market stabilizes, particularly for its existing products [3] - The company has revised its non-IFRS net profit forecasts for 2025-2027 to 1.27 billion, 1.61 billion, and 1.97 billion RMB, respectively, reflecting growth potential driven by the new product [3]
珍酒李渡(06979.HK)：周期筑底 大珍破局