KWEICHOW MOUTAI(SH:600519) Xin Lang Cai Jing·2026-01-15 00:27Core Viewpoint - Guizhou Moutai has adopted a new market-oriented operational plan for 2026, focusing on product differentiation and a multi-channel marketing system to better meet consumer demands [1]. Group 1: Product Strategy - The company will return to a "pyramid" product structure, clearly defining the positioning of each series to cater to diverse consumer needs [1]. Group 2: Operational Model - The operational model will shift from a traditional "self-sale + distribution" approach to a multi-faceted marketing system that includes "self-sale + distribution + agency + consignment" [1]. Group 3: Channel Strategy - A five-channel layout will be established, including wholesale, offline retail, online retail, catering, and private domain, integrating online and offline strategies to create a consumer-centric ecosystem [1]. Group 4: Pricing System - The pricing system will be market-oriented, implementing a dynamic adjustment mechanism for self-operated retail prices to maintain stability and responsiveness to market conditions [1]. Group 5: Financial Forecast - The company is expected to achieve revenues of 189.93 billion, 198.89 billion, and 208.66 billion yuan for the years 2025, 2026, and 2027, respectively, with net profits of 91.82 billion, 96.02 billion, and 100.50 billion yuan [2]. - The projected price-to-earnings ratios (PE) for these years are 19.24, 18.40, and 17.58 times [2].