KWEICHOW MOUTAI(SH:600519) Shang Hai Zheng Quan Bao·2025-11-28 18:47Core Viewpoint - The new chairman of Kweichow Moutai, Chen Hua, emphasizes the company's commitment to high-quality development and sustainable value creation, addressing market and investor concerns during the recent shareholder meeting [2][3]. Group 1: Company Strategy - Kweichow Moutai adheres to the principle of "four obeys," prioritizing quality over production volume, cost, efficiency, and speed, ensuring long-term development is not sacrificed for short-term gains [2][5]. - The company plans to focus on five key areas: maintaining quality foundations, advancing market-oriented marketing transformation, enhancing cultural value, promoting digital and green transformation, and practicing ESG principles [6]. Group 2: Market Opportunities and Challenges - The white liquor industry is currently in a "stock competition" phase, facing challenges such as high channel inventory and slowing growth rates, but Chen believes that opportunities outweigh these challenges [3][4]. - The confidence in Kweichow Moutai's future is based on three factors: the large domestic market potential, the deep cultural roots of the liquor industry, and the company's resilience through multiple economic cycles [3]. Group 3: Financial Actions - Kweichow Moutai plans to distribute a cash dividend of 23.957 yuan per share, totaling 30 billion yuan, and intends to repurchase shares worth between 1.5 billion and 3 billion yuan [4]. Group 4: Internationalization and Brand Protection - The company maintains a "three-step" strategy for internationalization, focusing on product export, overseas expansion, and creating international value [7][8]. - Kweichow Moutai has established a special protection mechanism against counterfeiting, allocating funds for regular inspections and legal actions against counterfeit products [8].