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Core Viewpoint - Guizhou Moutai (600519) announced its mid-term profit distribution plan for 2025, including a cash dividend of 23.957 yuan per share and a share buyback plan, emphasizing quality improvement and shareholder returns [1][5][10]. Profit Distribution - As of September 30, 2025, Guizhou Moutai's undistributed profits reached 210.875 billion yuan, with a total share capital of 1.252 billion shares [3]. - The company plans to distribute a total cash dividend of 30 billion yuan (including tax) based on the current total share capital [3][6]. Share Buyback Plan - Guizhou Moutai intends to repurchase shares using its own funds, with a total buyback amount between 1.5 billion yuan and 3 billion yuan, and a maximum buyback price of 1,887.63 yuan per share [6][9]. - The estimated number of shares to be repurchased ranges from approximately 794,647 to 1,589,294 shares, accounting for 0.0635% to 0.1269% of the current total share capital [9]. Quality Improvement Initiatives - The company emphasizes quality control, adhering to traditional brewing methods and implementing a full lifecycle quality management model [10]. - Guizhou Moutai has received multiple national quality awards and international recognition, highlighting its commitment to product quality [10]. Market Strategy - The company focuses on consumer-centric marketing, balancing traditional sales with adapting to changing consumer preferences and scenarios [10]. - Guizhou Moutai aims to unify consumer functionality, experience, and emotional value through product and channel collaboration [10]. ESG Practices - The company follows a philosophy of harmonious coexistence with nature and society, enhancing its environmental, social, and governance (ESG) practices [10]. Shareholder Engagement - Guizhou Moutai maintains a biannual dividend distribution rhythm and plans to implement a second round of share buybacks [11]. - The company is also working on increasing transparency and communication with investors through various channels [11]. Industry Context - The white liquor industry is currently undergoing a cyclical adjustment, with Guizhou Moutai transitioning from rapid growth to high-quality development [12].