KWEICHOW MOUTAI(SH:600519) Xin Lang Cai Jing·2025-12-13 12:04Core Viewpoint - Guizhou Moutai has recently implemented a volume control policy aimed at alleviating financial pressure on distributors and restructuring its product offerings in the medium to long term [1] Short-term Measures - By December 2025, Guizhou Moutai will cease to supply all Moutai products to distributors, with prepayments already completed, until January 1, 2026, when supply may resume [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] 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 diminish profit margins in distribution channels [1] - As of now, there has been no official announcement from Guizhou Moutai regarding these structural changes [1]