KWEICHOW MOUTAI(SH:600519) 新浪财经·2025-12-28 14:49Core Viewpoint - Guizhou Moutai is focusing on market-oriented transformation and consumer-centric strategies to enhance its brand and sales performance in the face of industry challenges [10][11]. Group 1: 2026 Planning - Moutai emphasizes that product prices will align with market demand, aiming to prevent price speculation and ensure a balance between supply and demand [3][13]. - The company plans to reduce the volume of high-value products and establish a "pyramid" product system consisting of "regular, premium, and aged" offerings [15][17]. - Moutai's marketing strategy for 2026 will prioritize consumer needs, aiming for a market-driven, legal, and scientific approach to product distribution and pricing [17]. Group 2: Channel Relationships - The terminology used for distributors has shifted from "family" to "friends," indicating a new approach to partnerships that emphasizes integrity and compliance [4][18]. - Moutai's leadership has committed to not engaging in practices that would lead to distributor losses, promoting a sustainable partnership model [5][23]. - The company encourages distributors to enhance their direct engagement with consumers and adapt to new economic trends and personal consumption scenarios [17][20]. Group 3: Market Conditions - The white liquor industry is currently facing significant challenges, including price inversions and high inventory levels, prompting Moutai to reassess its market strategies [10]. - Despite the overall industry pressure, Moutai maintains a stable market foundation and believes in the broad market potential for its products [10][11]. - Recent pricing data shows that the price of Feitian Moutai has stabilized between 1816-1827 RMB, while the price of premium Moutai has increased by 5% over five days [23][25].