KWEICHOW MOUTAI(SH:600519) Zhong Guo Zheng Quan Bao·2026-01-13 23:21Core Viewpoint - Guizhou Moutai announced a market-oriented operation plan for 2026, focusing on product structure, operational model, channel layout, and pricing mechanism to enhance consumer satisfaction and market competitiveness [2]. Group 1: Product Structure - The company will return to a "pyramid" product structure to better meet diverse consumer needs, with "base" products centered around Feitian 53% vol 500ml Moutai, supported by other specifications [2]. - "Waist" products will include premium and zodiac Moutai, aiming to strengthen the premium segment and stimulate demand for zodiac collectibles [2]. - "Peak" products will focus on aged and cultural series, driven by market demand while maintaining the value of ultra-high-end products [2]. Group 2: Operational Model - The operational model will shift from a traditional "self-sale + distribution" to a multi-dimensional marketing system including "self-sale + distribution + consignment + consignment" to better adapt to consumer needs [3]. - The self-sale model will focus on both C-end and B-end consumers through self-operated stores and the iMoutai platform, eliminating the previous distribution model [3]. - The consignment model will leverage online and offline retail channels to enhance regional coverage and channel reach [3]. Group 3: Channel Layout - The company will establish a five-channel layout including wholesale, offline retail, online retail, catering, and private domain, integrating online and offline strategies [3]. - A dynamic assessment mechanism will be implemented to optimize regional channel layouts based on market demand, ensuring precise and scientific market deployment [3]. Group 4: Pricing Mechanism - A market-oriented pricing mechanism will be established, allowing for dynamic adjustments to retail prices within the self-sale system [3]. - Recent price adjustments have been made for various products, with reductions noted for premium and zodiac Moutai [4][6].