“普茅”上线i茅台连日秒光，市场批发价持续承压

Core Viewpoint - The launch of the 53% vol 500ml Flying Moutai on the iMoutai platform has led to a significant surge in demand, indicating a key step in Moutai's channel reform and terminal control strategy [1][6][9] Group 1: Sales Performance - The Flying Moutai was sold out within minutes on the iMoutai platform, with the page frequently displaying "sold out" during the purchasing attempts [1][5] - The iMoutai platform has seen over 100,000 users complete purchases during the three-day New Year holiday [1][6] - The classic version of Moutai (priced at 1899 yuan per bottle) and the gift box version (3789 yuan for two bottles) also sold out quickly on the same day [1] Group 2: Channel Strategy - The introduction of the Flying Moutai to the direct sales platform marks a significant change in Moutai's channel strategy, allowing for better price control and direct consumer engagement [6][9] - Moutai's recent adjustments to purchasing rules, reducing the daily purchase limit from 12 bottles to 6, aim to meet demand ahead of the Spring Festival [1][6] - The company is shifting from a reliance on distributors to a multi-channel approach, integrating direct sales, distribution, and retail [9] Group 3: Market Impact - The wholesale price of Flying Moutai has dropped below the official guide price of 1499 yuan, reflecting the impact of the new direct sales strategy on traditional distribution channels [8][9] - Some distributors anticipate a decline in their sales prices due to the increased availability of Moutai through direct channels [8] - Moutai's financial performance shows a revenue of 130.9 billion yuan for the first three quarters of 2025, with a year-on-year growth of 6.3%, indicating a stable market despite challenges [7]