KWEICHOW MOUTAI(SH:600519) Bei Jing Shang Bao·2025-11-11 08:01Core Viewpoint - Douyin's e-commerce team has announced a special governance initiative targeting misleading marketing practices related to the sale of "overseas version" alcoholic beverages, emphasizing the need for clear version information to prevent consumer confusion [1][4]. Group 1: Governance Announcement - The announcement highlights that some creators have been using malicious marketing tactics, such as obscuring product version information and misleading price descriptions [1]. - Specific examples of violations include not displaying version information clearly in live streams and using ambiguous terms like "Chinese and English version" to confuse consumers [1][3]. Group 2: Penalties and Enforcement - The governance measures will include penalties for violators, such as suspension of live streams, removal of products, and freezing of commissions [3]. - Douyin has communicated to alcohol merchants that selling Moutai below market prices will lead to penalties, indicating a strict stance against false marketing practices [4]. Group 3: Market Impact and Expert Insights - Industry experts suggest that the aggressive pricing strategies during events like "Double 11" could undermine offline distributors' profit margins and disrupt the pricing structure of Moutai [4]. - The current pricing pressure is seen as part of a broader inventory destocking process, which may weaken the psychological price anchor of Moutai at 1499 yuan [4].