KWEICHOW MOUTAI(SH:600519) 新浪财经·2025-05-19 01:19Core Viewpoint - The article discusses the changes and key highlights from the Guizhou Moutai's 2024 annual shareholders' meeting, emphasizing the shift to a buffet-style dinner and the absence of Moutai liquor, which has sparked discussions among shareholders about the company's future strategies and growth potential [2][5][10]. Group 1: Event Changes - The annual dinner was changed from a formal banquet to a buffet for the first time, with no Moutai liquor served, replaced by Moutai's blueberry compound juice priced at 21 yuan per bottle [2][5][4]. - Shareholders expressed mixed feelings about the absence of Moutai liquor, with some appreciating the opportunity for clearer communication [7]. Group 2: Shareholder Engagement - Zhang Deqing, the chairman of Moutai, engaged with shareholders during the dinner, addressing concerns primarily focused on cash flow, dividends, and share buybacks [9]. - Shareholders emphasized the importance of utilizing the company's substantial cash flow effectively rather than letting it remain idle [9]. Group 3: Future Outlook - Notable investor Lin Yuan expressed optimism about Moutai's growth potential, predicting that the company could maintain its current growth rate for the next 10 to 20 years [2][14]. - Lin Yuan also highlighted the ongoing demand for Moutai as a scarce resource, suggesting that rising consumer spending and lifestyle changes would continue to support the brand's market position [16]. Group 4: Share Buyback and Market Confidence - Moutai announced a share buyback plan with a maximum budget of 6 billion yuan, aiming to complete the remaining 4.05 billion yuan of buybacks soon [10]. - The buyback initiative is seen as a positive move to boost shareholder confidence and potentially drive up the stock price [11].