五粮液12·18大会释放了哪些发展信号？

Core Insights - Five Star Liquor is focusing on product innovation and channel optimization to adapt to the evolving market dynamics in the Chinese liquor industry, aiming for sustainable growth rather than short-term gains [1][2][3] Product Strategy - The company is implementing a product system called "One Core, Two Engines, Two Drives, One New," with the eighth generation of Five Star Liquor as the core product [3] - The goal is to develop the 1618 and 39-degree Five Star Liquor into two billion-level flagship products, while also promoting new products like Five Star Liquor·One Encounter [3][4] - The company aims to establish a product hierarchy with strategic products at various revenue levels, including 100 billion, 50 billion, 20 billion, and 10 billion [3] Channel Development - Five Star Liquor plans to add 80 new specialty stores and optimize traditional channels, focusing on local group purchases and retail markets [4] - The company will terminate partnerships with underperforming distributors and enhance direct supply to 20 core cities, collaborating with leading e-commerce platforms [2][4] - The company is committed to maintaining market order by eliminating low-price dumping and non-compliant sales practices [4] Market Positioning - The company is responding to a comprehensive transformation in the liquor industry, characterized by changes in product, market, and consumption structures [1][2] - Five Star Liquor emphasizes high-quality development and reasonable returns for distributors, avoiding harmful competition for short-term growth [2][5] Organizational Reform - The company is linking executive compensation to market performance and establishing mechanisms for performance-based adjustments and exits for underperforming staff [5]