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茅台,最新发声!回应是否拆股
Zheng Quan Shi Bao· 2025-09-12 10:36
Core Viewpoint - Guizhou Moutai's management provided insights on market recovery, transformation strategies, and investor returns during the 2025 semi-annual performance briefing, indicating a positive outlook despite industry challenges [1][3][8] Group 1: Market Performance - Guizhou Moutai reported a revenue of 91.094 billion yuan for the first half of 2025, a year-on-year increase of 9.16%, and a net profit of 45.403 billion yuan, up 8.89% [3] - The company noted a significant recovery in terminal sales as the Mid-Autumn Festival and National Day approach, with a marked increase in sales since late August [3] - The company's contract liabilities decreased to 5.507 billion yuan, a decline of 44.89% year-on-year, reflecting adjustments in the industry [3] Group 2: Transformation Strategies - Guizhou Moutai is focusing on three transformations: customer base, scenarios, and services, aiming to shift from product-oriented to scenario-oriented strategies [4] - The company is enhancing consumer engagement by analyzing consumption scenarios and innovating service content to resonate emotionally with consumers [4] Group 3: International Expansion - The company is advancing its international strategy by establishing a standardized expression system, optimizing product and pricing structures, and developing new channels in international markets [6] - Guizhou Moutai is actively promoting its brand in countries like Singapore, Australia, and Japan, participating in global events to enhance its international presence [6] Group 4: Investor Returns - Guizhou Moutai is committed to investor returns, having implemented a three-year dividend plan with a minimum payout of 75% and completed a 6 billion yuan share buyback [8][9] - The management is open to discussing stock split options with shareholders, acknowledging differing opinions on the matter [8] Group 5: Financial Management - The company has seen a cumulative increase of 124% in sales expenses from 2020 to 2024, with a 24.56% rise in the first half of this year, focusing on brand building and market cultivation [7] - Guizhou Moutai maintains a sales expense ratio of around 3%, the lowest in the industry, indicating effective cost management [7]