新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 微信公众号"贵州茅台"1月4日发布关于防范虚假招商的提示： 近期，线上平台再次出现以茅台名义发布的招商信息，声称"1169元飞天直采""1169茅台申购""茅台 1169元飞天直供全国开放""茅台将1169元飞天企业直采通道从试点阶段推向全国版图"等。 中国贵州茅台酒厂（集团）有限责任公司及下属子公司从未授权或委托任何主体，发布以上信息。我公 司将积极配合有关部门调查处理，依法追究有关责任主体法律责任，切实维护市场秩序和消费者权益。 本文系观察者网独家稿件，未经授权，不得转载。 日前，贵州茅台官宣500ml飞天茅台将正式上线i茅台，被业内认为是茅台市场化转型的一个标志性动 作。 2026年1月1日9时，规格为53度/500ml的2026年飞天茅台（下称"新飞天"）在i茅台APP上正式开售，售 价为1499元/瓶，每位用户每日最多可购买12瓶。据贵州茅台发布的消息，每日投放量会综合考虑防止 炒作、供需适配和市场稳定确定，当日售完即止。之后，每日上午9时准点开售。 当天上午9时开售后，新飞天"秒空"，之后每5分钟放货一次，且多轮补货均售罄。 随后，"小茅i ...

记者丨刘雪莹 肖夏 编辑丨倪新平 继昨日首批上架瞬间售罄后，2026年开年第二天， i茅台上架的1499元飞天茅台，再度被秒 光。 据极目新闻报道，1月2日上午9时，记者第一时间点击"立即购买"按钮，1分钟内，一直显示当 前访问人数过多；此后平台每隔5分钟补货一次， 每次都瞬间销售一空 ，直至下单按钮显 示"已售罄"。 据了解，此次销售的2026年飞天茅台规格为53度/500ml，每位用户每日最多可购买12瓶。社 交媒体上，大批网友晒出自己抢购茅台的经历。 不少人说连续两天根本抢不到。 对于频繁售罄，有网友认为，说明"还值这个价格"，也有人表示"跟前段时间的labubu有点 像"。 在过去很长一段时间，53度500ml飞天茅台的实际市场价和建议零售价之间存在价差，带动 了"全民抢茅"热潮。受此影响，消费者对于茅台酒如何保真、如何买到真茅台的需求，也水涨 船高。在茅台方面看来，从过去的市场情况看，相较于价格高低本身，消费者诟病得最多的， 还是不能公平放心地买到真茅台。i茅台作为官方平台，被寄予了解决"公平售酒"这一难题的 厚望。 平价飞天茅台多轮补货均秒光，你有啥想说？欢迎来评论区聊聊~ （声明：文章内容仅供参 ...

Core Viewpoint - Guizhou Moutai held a temporary shareholders' meeting on November 28, 2023, where six proposals, including the election of directors and a share repurchase plan, were approved, signaling a commitment to high-quality development and sustainable value creation in a challenging market environment [1][3][4]. Group 1: Shareholder Meeting Highlights - The meeting attracted approximately 260 shareholders, reflecting strong support and engagement from investors during a period of deep adjustment in the liquor industry [4]. - Chairman Chen Hua expressed gratitude to shareholders and emphasized that Moutai's opportunities outweigh challenges, maintaining confidence in the company's future [3][5]. Group 2: Strategic Focus Areas - Moutai will focus on five key areas for sustainable development: quality assurance, market-oriented marketing transformation, cultural value enhancement, enterprise transformation and upgrading, and ESG (Environmental, Social, and Governance) practices [6]. - The company aims to provide exceptional products and services to consumers, support employee growth, create sustainable value for investors, ensure mutual benefits with partners, and fulfill social responsibilities as a national brand [5][6]. Group 3: Market Adaptation and Consumer Engagement - Moutai is actively transforming its customer base, service scenarios, and overall service experience to adapt to market demands, particularly focusing on new business sectors and emotional connections in drinking experiences [7][8]. - The company is enhancing its service capabilities by establishing a three-tier service talent system and offering customized services to improve consumer engagement [8][9]. Group 4: Sales Performance and Market Strategy - Moutai's sales performance has shown improvement, with the retail price of its flagship product, 53-degree/500ml Feitian Moutai, stabilizing around 1,831 yuan per bottle, indicating strong brand resilience [10][11]. - The company has strategically reduced market supply to maintain stability and is focusing on optimizing sales channels and enhancing cooperation with distributors to ensure market resilience [11][12]. Group 5: Youth Engagement Strategy - Moutai's approach to youth engagement is nuanced, recognizing the diverse drinking needs across different age groups, and aims to integrate its products into the lifestyles of younger consumers [12]. - The company is committed to maintaining a stable pricing strategy while enhancing value, positioning itself as a benchmark in the industry amidst ongoing price wars in lower-end products [12].

Core Viewpoint - The article discusses the significant decline in Wuliangye's performance, leading to its drop to the third position in the A-share liquor market, primarily due to strategic missteps and market conditions [4][5][6]. Industry Overview - The liquor industry is undergoing a deep adjustment, with Wuliangye's revenue in Q3 2025 dropping by 52.66% year-on-year, marking its worst quarterly performance in nearly 20 years [4][6]. - The overall liquor production in China decreased by 9.9% year-on-year in the first nine months of 2025, reflecting a broader industry downturn [6]. Company Performance - Wuliangye's Q3 2025 revenue was 81.7 billion yuan, with a net profit of 20.2 billion yuan, both showing significant declines compared to previous years [4][6]. - In contrast, competitors like Moutai and Shanxi Fenjiu reported revenue growth during the same period, highlighting Wuliangye's underperformance [6][11]. Strategic Adjustments - The company is undergoing a strategic shift aimed at optimizing channels and stabilizing prices, which has led to short-term pain reflected in its financial results [7][12]. - Wuliangye's management has implemented measures such as reducing dealer quotas and controlling supply to stabilize prices, but these efforts have not yet yielded substantial results [12][14]. Management Changes - Frequent changes in Wuliangye's management have led to strategic inconsistencies, impacting the company's ability to respond effectively to market challenges [16][17]. - The restructuring of the sales team aims to improve coordination between brand, channel, and terminal sales, but has also created transitional challenges [17][18]. Product Strategy - Wuliangye's reliance on its flagship product, the "Eighth Generation Pu Wu," which accounts for over 60% of its revenue, poses risks as competition intensifies [19][20]. - The company has struggled to diversify its product offerings, leading to vulnerabilities in both high-end and mid-range markets [20]. Market Sentiment - Despite the poor performance, Wuliangye's stock price showed resilience, indicating that investors may have already adjusted their expectations following previous declines [21][24]. - The company announced a substantial dividend plan, which may help support its market valuation amid ongoing challenges [24]. Institutional Perspectives - There is a divide among analysts regarding Wuliangye's future, with some optimistic about its long-term brand strength and reform efforts, while others express concerns about ongoing operational challenges [25][26]. - The differing views reflect broader uncertainties in the liquor market, particularly regarding demand recovery and the effectiveness of Wuliangye's strategic adjustments [26].