茅台2026年减少高附加值产品投放，取消分销方式

Core Viewpoint - In 2026, Kweichow Moutai plans to reduce the supply of high-value-added products and will stop using the distribution model, aiming to stabilize product prices and increase the market share of its regular Moutai products [1] Group 1: Product Strategy - The company will appropriately reduce the supply of high-value-added products, including a cut in the production of zodiac Moutai and a complete halt on the supply of rare Moutai [1] - The focus will shift towards increasing the market share of regular Moutai products [1] Group 2: Distribution Model - Kweichow Moutai will no longer use the distribution model starting in 2026, which previously allowed distributors to purchase products at approximately 90% of the suggested retail price [1] - The decision to stop the distribution model is influenced by the significant price discrepancies between non-standard Moutai products and their suggested retail prices, which have led to losses for some distributors [1] Group 3: Pricing Strategy - The company plans to adjust product prices according to market conditions in the coming year, with an emphasis on stabilizing prices [1]