KWEICHOW MOUTAI(SH:600519) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-13 13:12Group 1 - Guizhou Moutai (600519) has recently implemented a volume control policy, which includes short-term relief measures and long-term structural reforms [1] - In the short term, Moutai will stop issuing all products to distributors until January 1, 2026, to alleviate financial pressure on distributors during a tight cash flow period [1] - For long-term structural reforms, Moutai plans to significantly reduce the quota for non-standard products in 2026, aiming to decrease the supply of products that reduce profit margins in distribution channels [1] Group 2 - The price of Moutai's Feitian product has shown significant fluctuations, with the wholesale reference price for 53-degree 500ml Feitian Moutai rising to 1500 yuan per bottle on December 13, 2025, after a previous drop below the guidance price of 1499 yuan [1][2] - Since June 11, 2025, the retail price of Feitian Moutai has been on a downward trend, breaking key psychological price points, including falling below 2000 yuan, 1900 yuan, and eventually below 1600 yuan by the end of November [2] - Moutai management has reached an agreement with major e-commerce platforms like JD and Alibaba to integrate into Moutai's distribution ecosystem and combat unfair competition [2] Group 3 - As of December 12, 2025, Guizhou Moutai's stock price closed at 1420.65 yuan per share, with a total market capitalization of 1779 billion yuan [3][4] - The company is actively working with major online platforms to establish a green disposal channel for counterfeit infringement information, collaborating with market regulatory authorities for coordinated governance [3]