KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2026-01-15 02:21Core Viewpoint - The announcement of the 2026 market-oriented operation plan by Kweichow Moutai marks a significant strategic transformation towards a consumer-centric and market-driven approach, aiming to enhance sustainable growth in a new industry cycle [1][9]. Group 1: Market-Oriented Strategy - Kweichow Moutai is shifting from traditional channel planning to a market-oriented mindset, focusing on consumer needs and market demand [1]. - The new pricing mechanism emphasizes a dynamic adjustment system that aligns retail prices with market conditions, reflecting a respect for market dynamics [2][5]. - The introduction of 15 Moutai products with prices aligned to current market rates signifies a departure from previous fixed pricing strategies [2]. Group 2: Impact on Distributors - The new pricing strategy allows for a clear and reasonable profit margin for compliant distributors, ensuring a stable market operation space [3]. - Moutai's approach includes a focus on core products and a consignment model for certain items, which helps maintain a balance between online and offline sales [3][7]. Group 3: Consumer Benefits - The "market-following" pricing strategy eliminates the long-standing dual pricing system, allowing consumers to purchase products at more transparent and reasonable prices [5]. - This transformation enhances consumer experience by providing access to products without the influence of speculative pricing [5][6]. Group 4: Long-term Vision - The market-oriented transformation is a response to the broader economic shift towards high-quality development, reflecting changing consumer preferences for rational and quality-driven consumption [6][9]. - Kweichow Moutai is adopting a flexible strategy that allows for adjustments across various product lines and channels, fostering a consumer-centric ecosystem [7][9]. - The company aims to transition from a scale expansion model to one focused on quality enhancement and ecosystem building, creating greater value for the industry and consumers [9].