KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-12-14 01:08Core Viewpoint - The company is taking significant measures to stabilize the market and protect distributor profits by pausing shipments and reducing the supply of non-standard products, while simultaneously promoting premium products to ensure overall performance. Group 1: Shipment and Supply Control - The company has decided to pause all shipments in December to prevent distributors from selling at low prices to recover funds, which could lead to panic selling [3] - This pause will last until January 1, 2026, despite prepayments being completed, aiming to alleviate pressure on distributors and stabilize short-term confidence [3] Group 2: Reduction of Non-Standard Products - The company plans to significantly cut the supply of non-standard products, with reductions as follows: 100% for colored glaze premium, 50% for zodiac Maotai, 30% for 15-year Maotai, and 30% for 1-liter Maotai [4] - This reduction is expected to decrease sales revenue from non-standard products by approximately 20 billion RMB, accounting for about 10% of the projected sales in 2025 [4] Group 3: Strategic Shift to Premium Products - The company is strategically promoting premium Maotai to compensate for the reduced volume of non-standard products [5] - The approach includes lowering the factory price to over 2000 RMB from the current 2699 RMB to provide profit margins for distributors [6] - Additionally, the company plans to increase the allocation for premium products in 2026, indicating a shift in product strategy to focus on items with genuine sales potential [6]