Core Viewpoint - Guotai Liquor Industry aims to break the "involution" dilemma in the Chinese liquor industry through its "Tongzhi Business Philosophy" model, establishing a new cooperative relationship between manufacturers and distributors to create a resilient ecosystem [4][5][6]. Group 1: Business Model and Strategy - Guotai has launched its third platform company in Xi'an, following Tianjin and Chengdu, indicating a significant phase in the implementation of its "Tongzhi Business Philosophy" strategy [4]. - The "Tongzhi Business Philosophy" is designed to create an integrated ecosystem involving manufacturers, suppliers, distributors, and consumers, promoting value co-creation and sharing [5][6]. - The model aims to transform traditional relationships from mere transactional exchanges to a collaborative partnership, enhancing trust and shared benefits among stakeholders [7][9]. Group 2: Industry Context and Challenges - The liquor industry is currently facing significant challenges, including supply-demand imbalances, price inversions, and channel pressures, making the traditional "strong manufacturer, weak distributor" model unsustainable [6]. - Guotai's approach seeks to address these challenges by fostering a community of interests among distributors, retailers, and consumers, thereby avoiding price wars and channel imbalances [7][9]. Group 3: Platform Company Operations - The platform company model is characterized by a four-dimensional operational system: equity structure, operational model, profit distribution, and support mechanisms, creating a closed-loop ecosystem [10]. - The equity structure allows for the inclusion of high-quality distributors as shareholders, ensuring active participation and resource integration [10][11]. - A dynamic equity adjustment mechanism is in place to prevent stagnation, with adjustments based on sales performance and market contributions every 2-3 years [11]. Group 4: Performance and Future Outlook - The platform companies in Tianjin, Chengdu, and Xi'an have shown promising results, with Tianjin's company achieving nearly 400 new sales points and strong sales performance within three months of operation [12]. - The successful establishment of these platform companies demonstrates the replicability and vitality of the "Tongzhi Business Philosophy" model, positioning Guotai for high-quality growth in the liquor sector [12].