Core Viewpoint - The primary goal of iMoutai is to enhance consumer reach and efficiency while understanding real consumption boundaries, with significant user engagement reported since its launch [3]. Group 1: iMoutai Performance - iMoutai has gained over 2.7 million new users and more than 400,000 transaction users within nine days of launching the 53% vol 500ml Guizhou Moutai [3]. - The specific supply volume of the 1499 yuan Flying Moutai has not been disclosed, despite high demand and reports of consumers struggling to purchase it [3]. Group 2: Sales Channels and Revenue - In the first three quarters of the year, Moutai Group achieved revenue of 55.555 billion yuan through direct sales channels, including iMoutai, while wholesale channels generated 72.842 billion yuan, indicating that wholesale remains the core sales channel [4]. - The revenue from Moutai liquor and series liquor was reported at approximately 11.051 billion yuan and 1.788 billion yuan, respectively, with direct sales contributing 5.556 billion yuan and wholesale contributing 7.284 billion yuan [4]. Group 3: Dealer System and Market Strategy - The dealer system is deemed an essential component of Moutai's development, with the company emphasizing that the reform process will not eliminate dealers but rather outdated business practices [4]. - Balancing the interests of consumers and dealers is identified as a critical challenge for Moutai Group amid market reforms and price adjustments [4].

就大家关心的渠道改革问题，陈华表示，i茅台的根本目的是解决触达和效率，摸清真实消费边界。在 防止炒作、供需适配、市场稳定三条原则下，i茅台动态投放，让产品直达消费端，有助于建立良好的 渠道生态。数据显示，53%vol500ml贵州茅台酒上线第9日，i茅台新增用户已超270万，成交用户已超40 万，这样的触达能力和效率，线下渠道同等条件下难以企及，i茅台触达的用户大部分不是原有渠道中 的核心客户，而是过去渠道难以覆盖未曾触达的真实消费者。i茅台的良好运营，可以促进构建一个线 上线下（300959）融合的渠道生态。线上激发"新需求"，线下承担"转化和服务"。i茅台激发出来的消 费者，可以通过渠道商的服务能力和运营能力将之留下来并转化为长期客户。未来的分工逻辑就是线上 管效率、管触达，线下管转化、管服务，最终形成一个线上线下融合、以消费者为中心的良好渠道生 态。i茅台还可以促进经销商转型发展。改革过程中，被淘汰的不是"经销商"，而是跟不上时代的经营 方式。没有客户、不做服务、只靠甩单，不主动从"卖给下家"转向"服务消费者"的经销商，从长期来 看，终会被市场淘汰。 人民财讯1月9日电，据贵州茅台（600519）消息， ...