KWEICHOW MOUTAI(SH:600519) Xin Jing Bao·2026-01-13 16:31Core Viewpoint - Guizhou Moutai has announced a market-oriented operational plan for 2026, focusing on product structure, operational model, channel layout, and pricing mechanism adjustments to better align with market and consumer trends [2][5]. Product Structure - The plan emphasizes a return to a "pyramid" product structure, with the 53-degree 500ml Flying Moutai as the base product, enhancing its social consumption attributes and collectible value [3][5]. - The product tiers include "tower base" products, "tower waist" products like boutique and zodiac Moutai, and "tower top" products such as aged and cultural series, with a focus on maintaining the value of high-end products [3][5]. Operational Model - The operational model is shifting from a traditional "self-sale + distribution" approach to a multi-faceted marketing system that includes "self-sale + distribution + consignment + consignment" to better meet consumer demands [3][7]. - The self-sale model will utilize self-operated stores and the iMoutai platform to sell the full range of Moutai products [3][7]. Pricing Mechanism - A dynamic pricing adjustment mechanism will be established to ensure retail prices are responsive to market conditions, aiming to regain pricing power and reduce the influence of scalpers [5][8]. - The pricing for various Moutai products has been made public, with significant reductions noted, such as the zodiac Moutai being priced at 1899 yuan, down from 2499 yuan for the previous year's zodiac product [4][5]. Channel Layout - The plan outlines a channel layout that integrates online and offline sales, with five main channels: wholesale, offline retail, online retail, catering, and private domain [7]. - The role of distributors will evolve from traditional stockpiling to service-oriented roles, focusing on delivery and promotional activities [7][8].