智通财经网·2026-01-03 09:32Core Viewpoint - Guizhou Moutai's decision to launch the 2026 Flying Moutai at an official price of 1499 yuan per bottle on the iMoutai app represents a strategic breakthrough aimed at restructuring the market ecology and addressing long-standing pricing issues in the industry [1][2]. Group 1: Pricing Strategy and Market Dynamics - The introduction of the 1499 yuan Flying Moutai on iMoutai is a key measure to resolve the price disparity between official guidance and terminal prices, which has led to price volatility [2]. - iMoutai, with over 70 million users, serves as a direct sales channel that not only generates additional revenue and profit for Moutai but also reduces the space for market speculation by increasing official supply [2][4]. - Moutai's management has emphasized a consumer-centric approach, aiming to ensure that consumers can purchase Moutai fairly and conveniently, while also discouraging speculative trading [2][3]. Group 2: Changes in Distribution Model - Starting in 2026, Moutai will discontinue its distribution model, alleviating the financial burden on distributors and promoting a sustainable business environment [3]. - The shift away from a distribution model is expected to reduce operational pressures on distributors, allowing them to focus on consumer-centric strategies and long-term value creation [3][6]. - Moutai plans to implement a multi-dimensional sales model that includes self-sales, distribution, and consignment, transforming distributors from mere price arbitrageurs into value service providers [6]. Group 3: Consumer Benefits and Market Stability - Consumers will benefit significantly from the new channel reform, as the availability of Moutai at official prices will alleviate the previous scarcity and concerns over counterfeit products [7]. - The stable pricing strategy is designed to enhance consumer experience and brand reputation, ultimately leading to increased product consumption [7]. - Moutai's market-oriented transformation is expected to yield long-term benefits for shareholders, with improved governance and stable returns anticipated as pricing power and channel control are regained [7][8]. Group 4: Future Growth Prospects - Moutai is projected to achieve steady growth in 2026, supported by strategic initiatives such as focusing on core products and channel reforms [5][7]. - International investment banks, such as Goldman Sachs, have forecasted stable revenue growth for Moutai in 2026, driven by a reduction in non-standard quotas and an emphasis on core products [7].