KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2026-01-14 03:12Core Viewpoint - Moutai Group is shifting towards a market-oriented pricing strategy, allowing product prices to align with market conditions and consumer choices, marking a significant change in its pricing approach [1][3]. Price Adjustment - Moutai has made substantial price adjustments across several products, with the price of aged Moutai (15 years) dropping from 5399 yuan to 3409 yuan per bottle, a decrease of nearly 37%. Other products, such as premium Moutai and 43-degree Moutai, also saw significant price reductions [3][5]. Strategic Shift - The price cuts are part of Moutai's broader marketing strategy aimed at transitioning to a market-oriented approach. The company is focusing on market and value orientation to establish a pricing system that reflects market dynamics [3][5]. System Reconstruction - Moutai is restructuring its product lineup to return to a "pyramid" model, categorizing products based on sales volume and consumer demand. This includes positioning flagship products at the base and premium offerings at the top [5]. Price Anchoring - Moutai's pricing strategy utilizes three anchors: market transaction prices, the price of 1499 yuan for flagship Moutai as a baseline, and time value as a premium basis. Recent adjustments on the iMoutai platform reflect these changes [5][7]. Zodiac Wine Market Cooling - The market for Moutai's zodiac wines is moving away from speculative trading, with the latest release for the 2026 zodiac year priced lower than previous years, thus reducing the entry barrier for consumers [7]. Channel Transformation - Moutai is shifting its distribution strategy from focusing solely on channels to enhancing consumer service, integrating online and offline sales to improve efficiency and reach. This has resulted in a significant increase in new users on the iMoutai platform [7][9]. Dealer Support - The recent price adjustments are expected to provide dealers with a more reasonable profit margin, reflecting Moutai's commitment to supporting its distribution network. This move is seen as a way to foster long-term value creation and stabilize dealer profits [9].