茅台前高管创业酒厂被执行，发千字文道歉

Core Viewpoint - Guizhou Wuyou Liquor Industry Co., Ltd. is facing significant operational challenges, including being listed as an executed party in legal proceedings, which highlights the financial pressures and aggressive expansion strategies that have led to its current predicament [1][3][9]. Company Summary - The company has been identified as a significant player in the Maotai Town liquor industry, with a production capacity of over 7,000 tons of high-quality sauce-flavored liquor annually [10][12]. - The founder, Yuan Mingquan, previously served as the deputy general manager of Kweichow Moutai and aimed to establish Wuyou as a "second legend of Maotai Town" [1][10]. - Recent financial difficulties include a total execution amount of approximately 62.55 million yuan, indicating potential issues with debt repayment and operational sustainability [3][9]. Financial and Operational Challenges - The company has acknowledged its aggressive expansion strategy as a contributing factor to its current financial distress, admitting to misjudgments regarding market trends [3][5]. - Wuyou has halted all non-core expansions and investments, entering a "wartime state" focused on survival and stabilizing its operations [3][7]. - The company has experienced a significant increase in employee numbers, from 350 to 1,400, reflecting its rapid growth prior to the current crisis [10][12]. Industry Context - The broader liquor industry is undergoing a significant adjustment, with many small to medium-sized liquor companies facing operational difficulties due to a decline in speculative demand and a shift towards more rational consumption [9][13]. - The production capacity of sauce-flavored liquor in China is projected to decrease by 13.3% in 2024, marking the first decline in nearly six years, which further pressures companies like Wuyou [13][14]. - Other companies in the industry, such as Xiantan Liquor and Shandong Bandao Liquor, have also reported operational issues, indicating a challenging environment for smaller liquor manufacturers [9][14].