Core Viewpoint - Guizhou Moutai's annual shareholder meeting demonstrated strong investor expectations, with significant decisions made regarding profit distribution and financial planning for 2025 and beyond [1][3]. Profit Distribution - Guizhou Moutai approved a cash dividend of 276.24 yuan per 10 shares for 2024, totaling approximately 346.71 billion yuan, making it the highest dividend in the A-share market for 2024 [3][4]. - The company has committed to a cash dividend plan for 2024-2026, ensuring that annual cash dividends will not be less than 75% of the net profit [1][10]. Share Buyback and Market Response - Guizhou Moutai has been actively repurchasing shares, with 264,000 shares bought back for a total of 4.05 billion yuan, indicating a strategy to enhance shareholder value [12]. - The stock price has shown a slight upward trend, increasing by 6.11% from January 1 to May 19, 2025, despite some fluctuations [7][8]. Financial Performance - The company reported a revenue growth of 15.71% and a net profit growth of 15.38% for 2024, although these figures represent the lowest growth rates in three years [8][9]. - Guizhou Moutai's cumulative cash dividends since its listing in 2001 have reached 3,014.41 billion yuan, with a dividend payout ratio of 59.52% [4]. Market Position and Challenges - The current market environment has led to a downward adjustment in Guizhou Moutai's revenue growth target to around 9%, marking the first time since 2020 that the company has set a single-digit growth target [8][9]. - The company's price-to-earnings ratio (TTM) is currently at 23.07, significantly lower than its historical average, indicating potential for revaluation as the market matures [11]. Strategic Outlook - Guizhou Moutai aims to balance dividend increases with sustainable growth, focusing on international expansion, brand rejuvenation, and channel efficiency improvements to maintain investor confidence [12].

Summary of the Announcement Core Viewpoint - The company held its 2024 annual performance briefing on April 10, 2025, to communicate with investors regarding its operational results and financial status for the year [1][2]. Group 1: Meeting Details - The annual performance briefing took place from 9:00 to 10:00 AM on April 10, 2025, via the Shanghai Stock Exchange's online platform [1]. - The company announced the meeting in advance through various financial news outlets and the Shanghai Stock Exchange website [1]. Group 2: Investor Questions and Responses - **Funding for Mergers**: The company clarified that the funding for the acquisition of the power group would come from issuing shares and cash payments, as disclosed in the restructuring plan released on December 31, 2024 [3]. - **Dividend Policy**: The company plans to distribute cash dividends amounting to at least 75% of the net profit attributable to shareholders for the years 2025-2027, with a minimum cash dividend of 0.19 yuan per share [3]. - **Basis for Dividend Distribution**: The company confirmed that the dividend distribution for the years 2025, 2026, and 2027 would be based on the total share capital as of the record date for the rights distribution [3]. Group 3: Additional Information - The company expressed gratitude to investors for their participation and support, encouraging ongoing communication through various channels [4].