KWEICHOW MOUTAI(SH:600519) Shen Zhen Shang Bao·2026-01-14 04:59Core Viewpoint - Guizhou Moutai has announced a comprehensive market-oriented operation plan for 2026, focusing on transforming its sales model, product structure, channel layout, and pricing mechanism to better meet consumer demands and adapt to market changes [1][5]. Group 1: Operation Model - The operation model will shift from a traditional "self-sale + distribution" approach to a multi-dimensional marketing system that includes "self-sale + distribution + consignment + consignment" [1][2]. - The self-sale model will focus on both C-end and B-end consumer groups through self-operated stores and the iMoutai platform, eliminating the previous distribution model [2]. - The distribution model will involve clear sales volumes and designated sales areas, while the consignment model will rely on online and offline retail channels to enhance regional coverage [2][3]. Group 2: Product Structure - The product structure will revert to a "pyramid" model to better satisfy diverse consumer needs, with the base products being the Feitian 53% vol 500ml Moutai, supported by other specifications [1]. - The mid-tier products will include premium and zodiac Moutai, aiming to strengthen the premium segment and stimulate demand for collectible zodiac editions [1]. - The top-tier products will focus on aged and cultural series, with a strategy to maintain and enhance the value of ultra-high-end products [1]. Group 3: Channel Layout - A five-channel layout will be established, including wholesale, offline retail, online retail, dining, and private domain channels, promoting an integrated online and offline approach [2]. - The dynamic assessment mechanism will be driven by market demand, allowing for continuous optimization of regional channel layouts to ensure market stability [2]. Group 4: Pricing Mechanism - The pricing mechanism will be based on self-operated retail prices, with a scientific calculation of channel profit margins to determine sales contract prices and commissions [3]. - The pricing for the distribution model will be dynamically adjusted based on various factors such as operating costs and service capabilities [3]. Group 5: Market Context - The chairman of Moutai emphasized the necessity of market-oriented transformation to address supply-demand mismatches and enhance consumer access to genuine products [5]. - The iMoutai platform has reportedly gained over 2.7 million new users and 400,000 transaction users within nine days of launching the Feitian 53% vol 500ml Moutai [5]. - The industry is experiencing significant challenges, with several companies reporting expected losses, indicating a potential need for broader adjustments within the sector [6].