KWEICHOW MOUTAI(SH:600519) 2 1 Shi Ji Jing Ji Bao Dao·2025-11-29 07:02Core Viewpoint - The new chairman of Kweichow Moutai, Chen Hua, presented a detailed outlook on the current state of the liquor industry and the company's future development plans during the recent shareholders' meeting, emphasizing Moutai's resilience and ability to navigate through industry challenges [2][3][6]. Industry Overview - The liquor industry is currently facing challenges such as high channel inventory, product price inversion, and slowing growth rates, marking a shift into a "stock competition" era [9]. - Despite these challenges, Chen Hua believes that Moutai's opportunities outweigh the challenges, supported by a large domestic market, deep industry roots, and the company's strong resilience [9][10][11]. Company Strategy - Moutai will focus on quality over speed, ensuring that short-term gains do not compromise long-term development [7][13]. - The company aims to adapt to new market conditions by leveraging its brand, quality, and cultural advantages while seeking innovative breakthroughs [6][14]. Financial Actions - Moutai plans to repurchase shares worth between 1.5 billion and 3 billion yuan and execute a mid-term profit distribution of 30 billion yuan, reflecting a commitment to shareholder value [15]. Production and Sales Management - The production capacity release will be carefully managed based on ecological sustainability and the training of skilled workers, with an emphasis on maintaining product quality [19]. - Sales strategies will be adjusted according to market capacity, ensuring channel resilience and market stability during the industry's adjustment period [20]. Youth Engagement Strategy - Moutai recognizes the importance of engaging younger consumers and plans to differentiate strategies for various age groups, focusing on brand recognition and lifestyle integration rather than merely lowering alcohol content [21][22].