茅台或推控量政策，短期停供中长期减非标配额

Core Viewpoint - Guizhou Moutai is set to implement a volume control policy aimed at alleviating financial pressure on distributors and restructuring its product offerings in the medium to long term [1] Group 1: Short-term Measures - By December 2025, Guizhou Moutai will cease to provide all products to distributors (prepayments completed) until January 1, 2026, with a plan to resume at an appropriate time [1] - This measure is intended to reduce the financial burden on distributors during a period of tight cash flow, preventing panic selling due to loan repayments or new product payments [1] Group 2: Medium to Long-term Structural Reforms - In 2026, Guizhou Moutai plans to significantly reduce the quota for non-standard products, aiming to decrease the supply of products that erode profit margins in distribution channels [1] - As of now, there has been no official announcement from Guizhou Moutai regarding these changes [1]