价格趋稳、动销加速，茅台依旧是白酒“压舱石”

Core Viewpoint - The market for Moutai is showing signs of recovery with increasing demand, stable prices, and accelerated sales as the peak seasons of National Day and Mid-Autumn Festival approach [1][3]. Market Performance - Moutai's market status is improving, with a notable increase in terminal sales by approximately 20%-30% since August, driven by the resurgence of festive consumption and business activities [3][6]. - The sales volume of Moutai has reached levels comparable to the same period last year, with some regions reporting increases of 15%-35% in shipments since August [5][6]. Strategic Initiatives - Moutai has implemented a three-pronged transformation strategy focusing on customer engagement, scene optimization, and service enhancement, shifting from traditional transactional marketing to experiential marketing [6][8]. - The company has conducted extensive market activities across 30 provinces, enhancing brand engagement through cultural and experiential events [8]. Brand Strength - Moutai's brand image is being reinforced through cultural empowerment and quality commitments, which have increased consumer recognition and loyalty [8][12]. - The introduction of new products, such as the "70th Anniversary Commemorative Wine," has seen significant market interest, reflecting Moutai's strong position in the collectible and gift markets [5][8]. Financial Performance - In the first half of the year, Moutai achieved revenue of 89.39 billion yuan, a year-on-year increase of 9.10%, and a net profit of 45.40 billion yuan, also up by 8.89% [11][12]. - Moutai is recognized as a stabilizing force in the liquor industry, contributing to industry confidence amid weak demand [11][12].