茅台批发价止跌微涨，酱香系列酒亮出“百亿”成绩单

Core Insights - The management of Kweichow Moutai has announced significant adjustments at the recent national distributor conference, including balancing product supply based on market demand, reducing the allocation of high-value products, and canceling bundled distribution methods [1][3] - Following these policy changes, the market wholesale price of Feitian Moutai has shown signs of recovery, with prices increasing by 10 to 15 yuan per bottle [1] - The cancellation of mandatory purchases of non-standard products is expected to alleviate financial and inventory pressures on distributors, stabilizing the market price system [3] Market Dynamics - The market is experiencing a "Matthew Effect," where strong brands gain market share while weaker ones may be eliminated, with Moutai strategically positioning itself in the 200 to 1000 yuan price range [4] - Moutai's management emphasizes a market-oriented transformation, focusing on production based on demand and ensuring that distributors can earn profits without excessive margins [4] - The company aims to provide "emotional value" to consumers, indicating a shift towards a more sustainable ecosystem that benefits both manufacturers and distributors [4]