KWEICHOW MOUTAI(SH:600519) Zheng Quan Ri Bao·2025-12-29 04:09Core Viewpoint - The core strategy of Guizhou Moutai is to focus on consumer-centric marketing and market-oriented transformation by 2026, aiming to enhance consumer access to Moutai products through various reforms [1][2]. Group 1: Market Strategy - Guizhou Moutai aims to stabilize the market by aligning product offerings and pricing with consumer demand and preferences, emphasizing a long-term approach [2][5]. - The company plans to reduce the volume of high-value products in its 2026 release plan to ensure a clearer product positioning and a more stable product structure [2][5]. - Moutai intends to implement market-oriented pricing reforms to prevent price speculation and ensure a balance between supply and demand [2][5]. Group 2: Channel Development - The company will enhance its distribution channels by integrating online and offline sales, focusing on building a transparent and compliant e-commerce network [2][3]. - Moutai aims to attract new consumer groups by adapting to new economic trends and personal consumption scenarios, while also maintaining existing customer relationships [2][3]. Group 3: Service Improvement - Moutai is committed to improving consumer experience and service quality by simplifying online processes and enhancing collaboration with distributors [3][4]. - The company plans to establish a comprehensive anti-counterfeiting technology system centered on consumer experience, which includes flagship stores and cultural experience centers [4]. Group 4: Product Structure - The company will return to a "pyramid" product structure by 2026, focusing on the 500ml Flying Moutai as the main product while strengthening the boutique and zodiac products [5][6]. - Moutai aims to stimulate demand for collectible products and optimize its product structure to better meet diverse consumer needs [5][6]. Group 5: Industry Context - The white liquor industry is currently undergoing an adjustment period, making Moutai's strategic changes a key indicator of industry trends [7]. - The company's market-oriented reforms will focus on dynamic adjustments to delivery schedules based on market conditions [7].