KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2026-01-01 17:11Core Insights - The launch of the 2026 Flying Moutai on January 1, 2026, was met with overwhelming demand, with consumers reporting that the product sold out within seconds [1][5] - The iMoutai app has undergone a significant update, consolidating purchasing options into a unified "iBuy" portal, allowing users to buy all available products directly [5] - The pricing strategy aims to stabilize the market by providing consumers access to core products at official prices, thereby reducing speculation and encouraging rational consumption [6] Company Strategy - Moutai's approach reflects a shift from a production-driven sales model to a consumer-driven one, emphasizing direct service to consumers and adapting to market demands [6] - The company is implementing a daily limited release of affordable Moutai to send clear pricing signals to the market, aiming to suppress speculation and stabilize consumer expectations [6] Industry Context - The white liquor industry is currently facing challenges, including declining sales and profits, with major companies reporting year-on-year revenue and net profit declines [7] - The industry is experiencing a structural shift, with high-end liquor expected to recover first due to its social and gifting attributes, while mid-range and mass-market segments will face more competition and slower recovery [8] - Analysts suggest that companies should innovate new channels and enhance brand narratives to capture new consumer segments and improve market positioning [8]