In response to the recent weak trend in Feitian Moutai wholesale price, Moutai held the distributor meeting on Dec 11th, and conveyed a message to distributors including: 1) Dec Shipment to distributors will be suspended until 1 Jan 2026 (prepayment has been completed), and the company will resume shipment in due time for 2026LNY. This is to strengthen the distributor confidence in near term to prevent aggressive sell-down for cash turnover in our view; 2) The distribution quota of multiple Non-standard Mou ...