Core Viewpoint - Kweichow Moutai has launched an instant delivery service through its digital marketing platform "i Moutai," allowing consumers to receive orders within 30 minutes, enhancing customer experience and convenience during the peak consumption season of the National Day and Mid-Autumn Festival [1][3]. Group 1: Instant Delivery Service - The instant delivery service allows consumers to select delivery times and is currently available for two products: 1L Flying Moutai priced at 3799 yuan and 500ml premium Flying Moutai at 3299 yuan [1]. - This service is seen as a strategic move into the instant retail market, responding to the growing demand for convenience in alcohol purchases [4]. Group 2: Market Trends and Sales Data - The white liquor market is experiencing a surge in sales, with Meituan's flash purchase data indicating an approximately 8-fold year-on-year increase in white liquor sales during the last weekend before the holidays [3]. - Major brands like Moutai, Wuliangye, and Luzhou Laojiao have seen daily transaction amounts exceed 10 million yuan [3]. Group 3: Price Fluctuations of Flying Moutai - The wholesale price of Flying Moutai has shown volatility, with prices fluctuating below 1800 yuan per bottle before the holidays, raising investor concerns [6][7]. - As of September 30, the wholesale price for 500ml Flying Moutai was reported at 1760 yuan, indicating ongoing price instability [7]. Group 4: Company Performance - Kweichow Moutai reported a revenue of 91.094 billion yuan for the first half of the year, a year-on-year increase of 9.16%, and a net profit of 45.403 billion yuan, up 8.89% [8]. - The company maintains its annual performance target of 9% growth, despite market pressures and rumors of potential downward adjustments [8].

Group 1: Core Insights - Kweichow Moutai has launched an instant delivery service through its digital marketing platform "i Moutai," allowing consumers to receive orders within 30 minutes [1] - The service currently supports two products: 1L Flying Moutai priced at 3799 yuan and 500ml premium Flying Moutai at 3299 yuan [1] - The launch of this service is seen as a strategic move to tap into the growing instant retail market, especially during the peak consumption season of the National Day and Mid-Autumn Festival [2] Group 2: Market Trends - The instant retail market for alcoholic beverages is projected to grow significantly, with market size expected to rise from less than 20 billion yuan to 36 billion yuan by 2024 [3] - The penetration rate of instant retail in the alcohol sector is anticipated to increase from under 1% to approximately 1.8% [3] - By 2030, the market size could reach between 60 billion yuan and 90 billion yuan, with the liquor category, particularly baijiu, benefiting prominently [3] Group 3: Price Dynamics - The wholesale price of Flying Moutai has shown volatility, with fluctuations observed before the holiday season [5] - As of September 30, the wholesale price for 500ml Flying Moutai was reported at 1760 yuan, following a brief recovery above 1800 yuan [5] - Management has indicated a commitment to maintaining the wholesale price above 1800 yuan, emphasizing a balance between volume and price [6] Group 4: Financial Performance - Kweichow Moutai reported a revenue of 91.094 billion yuan for the first half of the year, reflecting a year-on-year growth of 9.16% [7] - The net profit attributable to shareholders was 45.403 billion yuan, marking an 8.89% increase compared to the previous year [7] - The company has not adjusted its annual performance targets, maintaining a growth expectation of 9% [7]