KWEICHOW MOUTAI(SH:600519) Xin Lang Cai Jing·2026-01-12 14:25Core Viewpoint - Moutai is adjusting the wholesale prices of several products, marking a significant step in its market-oriented transformation and aiming to relieve pressure on distributors while establishing competitive advantages in various price segments [1][2]. Pricing Adjustments - Moutai will adjust the wholesale prices for products including Premium Moutai, Aged Moutai (15), 43-degree Moutai, and Moutai 1935 [1][3]. - Current retail prices on the iMoutai platform are: Premium Moutai at 2299 yuan/bottle, Aged Moutai (15) at 4199 yuan/bottle, 43-degree Moutai at 829 yuan/bottle, and Moutai 1935 at 738 yuan/bottle [1][3]. Market Strategy - The price adjustment is part of Moutai's strategy to implement a "market-oriented transformation," which aims to align prices with market demand and improve the pricing structure across different product tiers [2][4]. - The adjustment is expected to create a more reasonable profit margin for distributors, typically ranging from 10% to 30% [4][5]. Sales Model - Moutai is exploring a multi-faceted sales model that includes self-sale, distribution, agency, and consignment, allowing for varied pricing strategies based on product type [2][5]. - This approach is designed to ensure a healthy channel ecosystem and avoid a one-size-fits-all pricing strategy [4][5]. Industry Impact - The restructuring of the pricing system reflects Moutai's commitment to market-oriented pricing reforms, which respect market dynamics and consumer choices [5]. - The initiative aims to stabilize market expectations and balance supply and demand, thereby protecting consumer rights [5].