KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2026-01-02 05:38Core Insights - The launch of the new Flying Moutai on the iMoutai App marks a significant step in Moutai's market-oriented transformation, with a focus on consumer-centric strategies [7][9] Group 1: Sales Event - On January 1, 2026, the 500ml Flying Moutai was made available on the iMoutai App at a price of 1499 yuan, selling out within seconds despite a replenishment strategy every five minutes [1][3] - Consumers reported difficulties in purchasing, with many expressing frustration on social media about the rapid sell-out and questioning the adequacy of supply [3][9] Group 2: Product Matrix - The current offering includes the new Flying Moutai, while previous years' products remain unsold; each user can purchase a maximum of 12 bottles per day [5] - The iMoutai App has undergone a redesign, consolidating purchasing options into a single "iBuy" entry point for easier access to all available products [5] Group 3: Strategic Layout - Moutai's marketing strategy emphasizes a "pyramid" product system, integrating classic, premium, and cultural series, aligning with the new product matrix on the iMoutai App [7] Group 4: Market Response - The launch has impacted the existing price structure, with significant price discrepancies between official and secondary markets; the price difference has previously reached up to 2000 yuan [9] - The introduction of direct sales through the iMoutai App is expected to enhance company revenue and profit margins, as the gap between the factory price and retail price narrows [9] Group 5: Channel Transformation - Moutai's distribution channels are evolving to include a multi-dimensional sales model, integrating self-sale, distribution, and consignment strategies [11] - The iMoutai platform has generated over 60 billion yuan in sales revenue and has more than 76 million registered users, highlighting its role in digital marketing [11] Group 6: Long-term Outlook - The limited daily supply of Flying Moutai aims to activate membership engagement on the iMoutai platform and attract new consumers [13] - The transparency of the official platform is expected to disrupt traditional high-price selling practices by distributors, leading to a more competitive pricing environment [13]