KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-09-12 04:45Core Insights - The article highlights a significant increase in the sales of Moutai liquor in the East China, Southwest, and Northeast markets, with terminal sales showing a month-on-month growth of approximately 15% to 35% since late August, as reported by Moutai's official WeChat account [1][7][11]. Market Dynamics - Moutai's recent market research, conducted from August 24 to September 7, indicates a positive trend in sales, attributed to effective communication with over 200 distributors [1]. - The white liquor industry is undergoing a "three-phase overlap" situation, with a notable shift in consumer preferences towards cost-effectiveness and rational consumption, marking a new adjustment period for the industry [4][20]. Strategic Initiatives - Moutai has implemented a series of measures, including "three transformations," "four focus strategies," and "five quantitative relationships," to effectively adapt and expand its customer base [5][20]. - The average growth of effective customers in 18 provinces, including the Beijing-Tianjin-Hebei region, reached 98%, indicating a strong potential for high-net-worth consumers [6]. Sales Performance - The sales volume of Moutai liquor has rebounded to levels comparable to the same period last year, with some distributors reporting sales exceeding last year's figures [7]. - The company has successfully maintained stable prices while significantly increasing shipment volumes, contributing to the overall market recovery [7][11]. Consumer Engagement - Moutai's focus on product innovation and cultural experiences has been pivotal in driving sales, with new products like the "70th Anniversary Commemorative Wine" and creative series gaining market traction [17][24]. - The establishment of Moutai cultural experience centers aims to enhance consumer engagement and facilitate the conversion of cultural experiences into sales [26]. Future Outlook - Moutai plans to balance market stability and dynamism by deepening its "three transformations" and promoting "three terminal changes," focusing on consumer trust and emotional value [20][24]. - The company emphasizes the importance of a robust channel ecosystem and precise product positioning to enhance operational efficiency and market responsiveness [18][24].