茅台最新回应

Core Viewpoint - Guizhou Moutai's third-quarter performance showed a significant decline in growth rate, attributed to external environmental changes and internal adaptation issues within the liquor industry [4][5]. Financial Performance - In Q3, Guizhou Moutai's revenue increased by 0.56% year-on-year to 39.064 billion yuan, while net profit attributable to shareholders rose by 0.48% to 19.224 billion yuan [4]. - Compared to the first half of the year, the growth rate of Moutai's performance in Q3 significantly decreased [4]. Market Conditions - The liquor industry is undergoing deep adjustments, influenced by changing consumer habits and mismatched business models, leading to widespread pressure on liquor companies [4][5]. - Moutai's management has conducted on-site research across various regions to build a strategic consensus centered on "transformation and change" [4]. Product Performance - Moutai liquor's revenue grew by 7.26% in Q3, with terminal sales gradually recovering since August [4]. - The company is focusing on maintaining market stability and respecting market laws in Q4 [4]. Channel Management - Moutai is actively addressing channel pressures by implementing policies to promote terminal sales and optimize product distribution [4][10]. - The channel inventory ratio for Moutai liquor is currently at a healthy level, with other series products also showing a declining inventory ratio [7][8]. Industry Challenges - The current adjustment in the liquor industry is seen as an opportunity for new development despite the challenges faced [5]. - Moutai aims to adapt better to market demands and promote higher quality development in the industry [5]. E-commerce and Pricing Issues - The company is addressing concerns regarding low-priced Moutai products on e-commerce platforms, which could impact its pricing and reputation [11]. - Moutai is working to establish a green disposal channel for counterfeit and infringement information with online platforms [11]. International Strategy - Moutai's internationalization strategy remains unchanged, focusing on maintaining market health and stability despite challenges like "return liquor" disrupting pricing [12][13]. - The company has increased its market presence in regions where Chinese enterprises are concentrated [14].