茅台下调部分产品合同价，多款产品单瓶下调超千元

Core Viewpoint - Guizhou Moutai has adjusted the contract prices of several products, with reductions exceeding 1,000 yuan for multiple items, indicating a move towards market-oriented pricing reforms [1][2] Pricing Adjustments - The contract price for aged Guizhou Moutai (15) for 2026 is set at 3,409 yuan per bottle, down from 5,399 yuan in 2025; the 43-degree Guizhou Moutai for 2026 is priced at 739 yuan, compared to 798 yuan in 2025; the price for Moutai series product "Moutai 1935" has been reduced from 798 yuan to 668 yuan [1] - The factory price for premium Moutai has decreased from 2,969 yuan to 1,859 yuan, with the retail guide price dropping from 3,299 yuan to 2,299 yuan [1] Market Dynamics - The price adjustments primarily affect non-standard products and series products, which have been causing significant losses for distributors [1] - Previously, non-standard products were distributed to agents at 90% of the market suggested retail price, but since 2025, these products have experienced price inversions [1] - The new pricing allows distributors to profit from the price difference when purchasing non-standard products from Moutai [1] Market Reform Strategy - This pricing strategy is part of Moutai's broader initiative to implement market-oriented reforms, aiming to adjust delivery schedules based on market supply and demand, and to establish a pricing mechanism that aligns with market conditions [2] - Moutai's marketing transformation seeks to attract consumers, paralleling strategies used by brands like Tesla and Apple [2] - Moutai Group's chairman, Chen Hua, emphasized that while distributors can still earn profits, the era of excessive profits is over [2] Distributor Sentiment - Some distributors express dissatisfaction with the official price adjustments, as they had previously purchased premium Moutai at prices higher than the new official price of 2,299 yuan, leading to potential losses [2] - The future determination of wholesale prices in the industry remains uncertain, impacting the business operations of distributors [2]