KWEICHOW MOUTAI(SH:600519) 新华网财经·2026-01-13 12:52Core Viewpoint - The article discusses the structural adjustments in the liquor industry, particularly focusing on Moutai's strategies to adapt and thrive in a changing market environment, emphasizing consumer-centric approaches and channel resilience [2][4]. Group 1: Market Environment and Confidence - The liquor industry is transitioning from rapid growth to high-quality development, with Moutai's leadership expressing confidence in the long-term positive economic fundamentals of China [4]. - Policies aimed at expanding domestic demand and boosting consumption are expected to provide ongoing support for the liquor industry [4]. - The "Matthew Effect" is increasingly evident, with resources concentrating on leading companies and strong brands, presenting new integration opportunities for Moutai's premium products [4]. Group 2: Market-Oriented Strategies - Moutai's strategy focuses on three core dimensions: product, channel, and service, to respond to the era of consumer sovereignty [6]. - The company aims to establish a pricing system that reflects consumer expectations and market dynamics, ensuring product value is tangible [6]. - Channel transformation is essential, moving towards a diversified ecosystem that includes wholesale, retail, online, and private domains, while addressing profitability challenges for channel partners [6]. Group 3: Systematic Transformation and Resilience - Moutai plans to enhance its market-oriented reforms by improving product strength, brand power, channel efficiency, and service quality [8]. - The company will focus on core products, dynamic pricing mechanisms, and digital traceability to maintain quality [8]. - A shift from a "tree-like distribution" to a "forest-like ecosystem" is planned, utilizing digital management for better visibility and collaboration across channels [8]. Group 4: Collaborative Development - The company emphasizes the importance of collaboration between manufacturers and distributors, viewing them as a "community of shared destiny" [10]. - Moutai advocates for practical cooperation, scientific incentives, and the cultivation of operational capabilities among channel partners [10]. - The company aims to enhance customer engagement through joint marketing efforts and storytelling to elevate brand recognition and consumer loyalty [10].