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2024-11-25

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2025-08-20

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2024-11-06

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2025-08-13

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2024-10-30

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01-09

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Entertainment(AMC)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":4,"link":"https://ttm.financial/post/519819246735608","isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":518465498170056,"gmtCreate":1767601408116,"gmtModify":1767601410566,"author":{"id":"3554791744663453","authorId":"3554791744663453","name":"peter1","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3554791744663453","idStr":"3554791744663453"},"themes":[],"title":"","htmlText":"<a href=\"https://ttm.financial/S/MSFT\">$微软(MSFT)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/MSFT\">$微软(MSFT)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","text":"$微软(MSFT)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/518465498170056","repostId":"2600236018","repostType":2,"repost":{"id":"2600236018","kind":"highlight","pubTimestamp":1767430277,"share":"https://ttm.financial/m/news/2600236018?lang=en_US&edition=fundamental","pubTime":"2026-01-03 16:51","market":"us","language":"zh","title":"Dismantling the conspiracy of Moutai (600519. SH): 1499 yuan Feitian i Moutai sold well after it went on sale to solve the price dilemma","url":"https://stock-news.laohu8.com/highlight/detail?id=2600236018","media":"智通财经网","summary":"2025年最后一天，贵州茅台(600519.SH)抛出重磅消息。","content":"<p><html><body><div>On the last day of 2025,<a href=\"https://laohu8.com/S/600519\">Kweichow Moutai</a>(600519. SH) threw out heavy news: Feitian Moutai (53 degrees, 500ml) will log in to the i Moutai APP from 9:00 on January 1, 2026. Among them, Feitian Moutai in 2026 will be subscribed at the official guide price of 1499 yuan/bottle, and each person is limited to 12 bottles per day. On January 1, 1499 yuan/bottle of Feitian Moutai sold well after it was launched on i Moutai, and it was still \"empty in seconds\" after multiple rounds of replenishment.</p><p>In the eyes of the outside world, this news is not a simple channel expansion, but a strategic breakthrough related to market ecological reconstruction initiated by Kweichow Moutai in response to the price pain points that have long plagued the industry. It marks that this leading liquor company has taken a decisive step on the road to establishing a price system with consumers as the center.</p><p><strong>Solving the price dilemma, accelerating marketization and reconstructing the market ecology</strong></p><p>For a long time, there has been a long-term price difference between the official guide price of Kweichow Moutai and the terminal transaction price, resulting in fluctuations in the terminal price of Feitian Moutai.</p><p>This time, i Moutai put Feitian Moutai on the shelves for 1,499 yuan/bottle, which is the key measure for Moutai to solve this dilemma. As Moutai's self-operated online core position, i Moutai has accumulated more than 70 million users and built a \"highway\" directly to consumers. Its strategic positioning goes far beyond adding a new sales channel. Through the official direct sales model, it will directly contribute incremental revenue and profits to Maotai.</p><p>More importantly, this move has broken the survival foundation of the informal arbitrage ecology. With the increase in the original price of official channels, the market speculation space has been greatly compressed, promoting the rational return of Moutai from \"investment products\" to \"consumer goods\".<strong>In fact, at the recent 2026 Moutai Distributors Conference, Moutai's management made it clear that in the new year, it will be \"consumer-centered and promote market-oriented transformation\", and the core goal is to make consumers \"fair, fast,\" Buy Moutai with fidelity \", and reiterate the fundamental positioning of\" Moutai is for drinking, not for speculation \".</strong></p><p>In addition, at the Moutai Dealer Conference, the management of Kweichow Moutai also made it clear that the distribution model will no longer be used from 2026.</p><p>\"Next year, Moutai will no longer adopt the distribution method, which is equivalent to reducing the burden on agents and reducing the source of losses.\" Xiao Zhuqing, an independent commentator of China Liquor Industry, told a reporter from the Financial Associated Press that with the cancellation of the distribution model, the operating pressure of dealers has been greatly reduced.</p><p>\"Maotai will not do anything that violates the rules of the market, nor will it make channel dealers lose money, because only one side wins is unsustainable, and mutual benefit and win-win can last longer.\" Chen Hua, chairman of Maotai Group, said at the dealer conference that he hoped that the majority of dealers would change their business philosophy while preventing risks, abandon the previous inertia thinking of \"lying down and winning\", deeply cultivate the market with consumers as the center, and strive to build a win-win situation.</p><p>Some people worry that Feitian Moutai, which is on the shelves of i Moutai at 1,499 yuan/bottle, will impact the approval price of Moutai. In fact, this is too much worry. However, this is not the case. In 2019, when the company launched 1,499 yuan/bottle of Pumao on various e-commerce platforms, some people were worried that it would affect the price of Moutai, but in fact it did not have an impact on the price of Moutai. In addition, it is impossible for the company to put a large number of Pumao on i Moutai. It will definitely put it on a tentative basis and gradually according to the market situation. It is impossible to have an impact on the market price, but will adjust the market price.</p><p>In fact, after the announcement of the launch of i Moutai at 1,499 yuan/bottle of Pumao on December 30, according to the current price data of Yimao, after the announcement of the launch news, the approval price of Pumao was stable. On the other hand, Kweichow Moutai also emphasized that the amount of Pumao on i Moutai will be set based on the principles of preventing speculation, adapting supply and demand, and market stability.</p><p>In fact, since i Moutai is the self-operated channel of Kweichow Moutai, when the approval price of Moutai fluctuates greatly, the company can prevent the market price of Moutai from rising sharply and falling, and maintain the price stability of Moutai by adjusting the volume on i Moutai.</p><p>\"In the long run, large price fluctuations not only harm the interests of consumers, but also harm the long-term interests of channel providers and manufacturers. High profits may be obtained through speculation in the short term, but it is unfavorable to the whole industry. Therefore, the company will try its best to stabilize the price, which is responsible not only to consumers, but also to manufacturers and channel providers in the industrial chain.\" At the recent dealer conference, Chen Hua, chairman of Maotai Group, also bluntly said.</p><p><strong>Moutai is still expected to achieve steady growth in 2026</strong></p><p>i Moutai's move to put Feitian Moutai on the shelves for 1,499 yuan/bottle has a long-term significance far beyond a single channel adjustment. Instead, it has built a multi-party win-win ecosystem covering companies, distributors, consumers, and shareholders, which is also the key to Moutai's market-oriented reform. move.</p><p>As far as Maotai itself is concerned, the biggest gain lies in the acquisition of real and effective consumption data assets. Relying on the huge user base of i Maotai, Maotai can accurately analyze user behavior, purchase preference and dynamic sales data, and realize scientific product delivery and inventory management. This data-driven \"smart delivery\" mode can effectively avoid blind pressing of goods, promote the health of channel inventory, and significantly enhance the anti-risk ability of the overall channel.</p><p>As far as Maotai dealers are concerned, although they bid farewell to the price difference dividend of \"lying down and earning\", they have gained a more sustainable development space. Not long ago, Kweichow Moutai made it clear that it would gradually bid farewell to the old model of \"relying on a single product to subsidize other products, resulting in the dilution of the overall profit of the channel\", and turn to maintaining the channel ecology through reasonable profit distribution and long-term value co-creation.</p><p>At the same time, Kweichow Moutai will build a multi-dimensional collaborative sales model of \"self-sale + distribution + agency sales + consignment\" to promote the transformation of channels from \"trunk distribution\" to \"forest ecology\", so that dealers can change from simple \"price difference arbitrageurs\" to \"value service providers\", and gain pricing autonomy and long-term benefits in expanding new customer groups and exploring consumption scenarios.</p><p>Consumers are undoubtedly the biggest beneficiaries of this channel reform. In the past, the dilemma of \"a bottle is hard to find\" will be fundamentally alleviated. Through the normalized subscription of i Moutai, consumers can buy fidelity Moutai fairly and quickly at the official guide price, and there is no need to buy wine at a high price or fake goods. And worry. This change will effectively improve the \"bottle opening rate\" of Moutai, allow more consumers to truly experience the product value, and promote the continuous precipitation of brand reputation in real consumption scenarios.</p><p>As far as Moutai shareholders are concerned, Moutai's market-oriented transformation may have certain short-term pains, but in the long run it will bring about improvements in corporate governance and steady value returns. With the return of pricing power and channel control, the company's profitability will continue to be optimized, the certainty of performance will be significantly enhanced, and stable income will be created for shareholders. In the long run, price marketization will achieve a win-win situation for the company, distributors, consumers and shareholders.</p><p>Overall, Kweichow Moutai is still expected to achieve steady growth in 2026 with multiple measures taken simultaneously. Recently, top international investment banks-<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>According to the research report released, the company's revenue in 2026 is expected to grow steadily under the strategy of Kweichow Moutai reducing non-standard quotas, focusing on Pumao's core single products, and expanding the volume of high-quality Moutai and channel reform in 2026.</p><p>This article is reproduced from \"Financial Associated Press\"; Zhitong Finance Editor: Yan Wencai.</p><p><div></div></div></body></html></p>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dismantling the conspiracy of Moutai (600519. SH): 1499 yuan Feitian i Moutai sold well after it went on sale to solve the price dilemma</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDismantling the conspiracy of Moutai (600519. SH): 1499 yuan Feitian i Moutai sold well after it went on sale to solve the price dilemma\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">智通财经网</strong><span class=\"h-time small\">2026-01-03 16:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><div>On the last day of 2025,<a href=\"https://laohu8.com/S/600519\">Kweichow Moutai</a>(600519. SH) threw out heavy news: Feitian Moutai (53 degrees, 500ml) will log in to the i Moutai APP from 9:00 on January 1, 2026. Among them, Feitian Moutai in 2026 will be subscribed at the official guide price of 1499 yuan/bottle, and each person is limited to 12 bottles per day. On January 1, 1499 yuan/bottle of Feitian Moutai sold well after it was launched on i Moutai, and it was still \"empty in seconds\" after multiple rounds of replenishment.</p><p>In the eyes of the outside world, this news is not a simple channel expansion, but a strategic breakthrough related to market ecological reconstruction initiated by Kweichow Moutai in response to the price pain points that have long plagued the industry. It marks that this leading liquor company has taken a decisive step on the road to establishing a price system with consumers as the center.</p><p><strong>Solving the price dilemma, accelerating marketization and reconstructing the market ecology</strong></p><p>For a long time, there has been a long-term price difference between the official guide price of Kweichow Moutai and the terminal transaction price, resulting in fluctuations in the terminal price of Feitian Moutai.</p><p>This time, i Moutai put Feitian Moutai on the shelves for 1,499 yuan/bottle, which is the key measure for Moutai to solve this dilemma. As Moutai's self-operated online core position, i Moutai has accumulated more than 70 million users and built a \"highway\" directly to consumers. Its strategic positioning goes far beyond adding a new sales channel. Through the official direct sales model, it will directly contribute incremental revenue and profits to Maotai.</p><p>More importantly, this move has broken the survival foundation of the informal arbitrage ecology. With the increase in the original price of official channels, the market speculation space has been greatly compressed, promoting the rational return of Moutai from \"investment products\" to \"consumer goods\".<strong>In fact, at the recent 2026 Moutai Distributors Conference, Moutai's management made it clear that in the new year, it will be \"consumer-centered and promote market-oriented transformation\", and the core goal is to make consumers \"fair, fast,\" Buy Moutai with fidelity \", and reiterate the fundamental positioning of\" Moutai is for drinking, not for speculation \".</strong></p><p>In addition, at the Moutai Dealer Conference, the management of Kweichow Moutai also made it clear that the distribution model will no longer be used from 2026.</p><p>\"Next year, Moutai will no longer adopt the distribution method, which is equivalent to reducing the burden on agents and reducing the source of losses.\" Xiao Zhuqing, an independent commentator of China Liquor Industry, told a reporter from the Financial Associated Press that with the cancellation of the distribution model, the operating pressure of dealers has been greatly reduced.</p><p>\"Maotai will not do anything that violates the rules of the market, nor will it make channel dealers lose money, because only one side wins is unsustainable, and mutual benefit and win-win can last longer.\" Chen Hua, chairman of Maotai Group, said at the dealer conference that he hoped that the majority of dealers would change their business philosophy while preventing risks, abandon the previous inertia thinking of \"lying down and winning\", deeply cultivate the market with consumers as the center, and strive to build a win-win situation.</p><p>Some people worry that Feitian Moutai, which is on the shelves of i Moutai at 1,499 yuan/bottle, will impact the approval price of Moutai. In fact, this is too much worry. However, this is not the case. In 2019, when the company launched 1,499 yuan/bottle of Pumao on various e-commerce platforms, some people were worried that it would affect the price of Moutai, but in fact it did not have an impact on the price of Moutai. In addition, it is impossible for the company to put a large number of Pumao on i Moutai. It will definitely put it on a tentative basis and gradually according to the market situation. It is impossible to have an impact on the market price, but will adjust the market price.</p><p>In fact, after the announcement of the launch of i Moutai at 1,499 yuan/bottle of Pumao on December 30, according to the current price data of Yimao, after the announcement of the launch news, the approval price of Pumao was stable. On the other hand, Kweichow Moutai also emphasized that the amount of Pumao on i Moutai will be set based on the principles of preventing speculation, adapting supply and demand, and market stability.</p><p>In fact, since i Moutai is the self-operated channel of Kweichow Moutai, when the approval price of Moutai fluctuates greatly, the company can prevent the market price of Moutai from rising sharply and falling, and maintain the price stability of Moutai by adjusting the volume on i Moutai.</p><p>\"In the long run, large price fluctuations not only harm the interests of consumers, but also harm the long-term interests of channel providers and manufacturers. High profits may be obtained through speculation in the short term, but it is unfavorable to the whole industry. Therefore, the company will try its best to stabilize the price, which is responsible not only to consumers, but also to manufacturers and channel providers in the industrial chain.\" At the recent dealer conference, Chen Hua, chairman of Maotai Group, also bluntly said.</p><p><strong>Moutai is still expected to achieve steady growth in 2026</strong></p><p>i Moutai's move to put Feitian Moutai on the shelves for 1,499 yuan/bottle has a long-term significance far beyond a single channel adjustment. Instead, it has built a multi-party win-win ecosystem covering companies, distributors, consumers, and shareholders, which is also the key to Moutai's market-oriented reform. move.</p><p>As far as Maotai itself is concerned, the biggest gain lies in the acquisition of real and effective consumption data assets. Relying on the huge user base of i Maotai, Maotai can accurately analyze user behavior, purchase preference and dynamic sales data, and realize scientific product delivery and inventory management. This data-driven \"smart delivery\" mode can effectively avoid blind pressing of goods, promote the health of channel inventory, and significantly enhance the anti-risk ability of the overall channel.</p><p>As far as Maotai dealers are concerned, although they bid farewell to the price difference dividend of \"lying down and earning\", they have gained a more sustainable development space. Not long ago, Kweichow Moutai made it clear that it would gradually bid farewell to the old model of \"relying on a single product to subsidize other products, resulting in the dilution of the overall profit of the channel\", and turn to maintaining the channel ecology through reasonable profit distribution and long-term value co-creation.</p><p>At the same time, Kweichow Moutai will build a multi-dimensional collaborative sales model of \"self-sale + distribution + agency sales + consignment\" to promote the transformation of channels from \"trunk distribution\" to \"forest ecology\", so that dealers can change from simple \"price difference arbitrageurs\" to \"value service providers\", and gain pricing autonomy and long-term benefits in expanding new customer groups and exploring consumption scenarios.</p><p>Consumers are undoubtedly the biggest beneficiaries of this channel reform. In the past, the dilemma of \"a bottle is hard to find\" will be fundamentally alleviated. Through the normalized subscription of i Moutai, consumers can buy fidelity Moutai fairly and quickly at the official guide price, and there is no need to buy wine at a high price or fake goods. And worry. This change will effectively improve the \"bottle opening rate\" of Moutai, allow more consumers to truly experience the product value, and promote the continuous precipitation of brand reputation in real consumption scenarios.</p><p>As far as Moutai shareholders are concerned, Moutai's market-oriented transformation may have certain short-term pains, but in the long run it will bring about improvements in corporate governance and steady value returns. With the return of pricing power and channel control, the company's profitability will continue to be optimized, the certainty of performance will be significantly enhanced, and stable income will be created for shareholders. In the long run, price marketization will achieve a win-win situation for the company, distributors, consumers and shareholders.</p><p>Overall, Kweichow Moutai is still expected to achieve steady growth in 2026 with multiple measures taken simultaneously. Recently, top international investment banks-<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>According to the research report released, the company's revenue in 2026 is expected to grow steadily under the strategy of Kweichow Moutai reducing non-standard quotas, focusing on Pumao's core single products, and expanding the volume of high-quality Moutai and channel reform in 2026.</p><p>This article is reproduced from \"Financial Associated Press\"; Zhitong Finance Editor: Yan Wencai.</p><p><div></div></div></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://www.zhitongcaijing.com/content/detail/1388292.html\">智通财经网</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://img.zhitongcaijing.com/image/20260103/20260103165529_86149.png?x-oss-process=image/format,jpg/quality,Q_80/resize,w_250","relate_stocks":{"600519":"贵州茅台","LU1497733631.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM 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ACC"},"source_url":"http://www.zhitongcaijing.com/content/detail/1388292.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2600236018","content_text":"2025年最后一天，贵州茅台(600519.SH)抛出重磅消息：飞天茅台(53度、  500ml)将于2026年1月1日9点起登陆i茅台APP，其中2026年份的飞天茅台，将以1499元/瓶的官方指导价进行申购，每人每日限购12瓶。而1月1日，1499元/瓶飞天茅台上线i茅台后旺销，多轮补货后仍“秒空”。在外界看来，这一消息并非简单的渠道扩容，而是贵州茅台针对长期困扰行业的价格痛点，发起的一场关乎市场生态重构的战略突围，标志着这家白酒龙头企业在“以消费者为中心”建立价格体系的道路上迈出了决定性一步。破解价格困局 加速市场化重构市场生态长期以来，贵州茅台官方指导价与终端成交价长期存在价差，导致飞天茅台酒终端价格出现波动。而此次i茅台上架1499元/瓶的飞天茅台，正是茅台破解这一困局的关键举措。作为茅台自营的线上核心阵地，i茅台已积累超7000万用户，构建起直达消费者的“高速公路”，其战略定位远不止新增一个销售渠道。通过官方直销模式，为茅台带来直接贡献增量营收和利润。更重要的是，这一举措打破了非正规套利生态的生存基础，随着官方渠道原价放量，市场炒作空间被大幅压缩，推动茅台酒从“投资品”向“消费品”理性回归。实际上，在不久前的2026年茅台酒经销商大会上，茅台管理层明确表态，新一年要“以消费者为中心，推进市场化转型”，核心目标就是让消费者“公平、快捷、保真地买到茅台酒”，并重申“茅台酒是用来喝的，不是用来炒的”根本定位。此外，茅台经销商大会，贵州茅台管理层还明确表示，2026年起不再使用分销模式。“明年茅台不再采用分销方式，相当于是为代理商减负，减少亏损源。”中国酒业独立评论人肖竹青对财联社记者表示，随着分销模式的取消，极大的减轻了经销商的经营压力。“茅台不会做违反市场规律的事，也不会让渠道商亏钱，因为只有一方赢的局面是不可持续的，互利共赢才能走得更长久。”茅台集团董事长陈华在经销商大会上表示，希望广大经销商在防范风险的同时，切实转变经营理念，摒弃以往“躺赢”的惯性思维，以消费者为中心深耕市场，努力构建双赢局面。有部分人担心，i茅台上架1499元/瓶的飞天茅台，将冲击茅台酒的批价。其实，这属于多虑。然而，事实并非如此。2019年，公司在各电商平台推出1499元/瓶普茅时，也有人担心会影响茅台酒价格，事实上并没有对茅台酒价格造成冲击。另外，公司不可能在i茅台上一下大量投放普茅，一定会依据市场情况试探性地逐渐投放，不可能对市场价格造成冲击，反而会对市场价格进行调节作用。实际上，在12月30日1499元/瓶普茅上线i茅台消息公布后，根据易茅时价数据显示，上线消息公布后，普茅批价表现稳定。另一方面，贵州茅台也对外强调，在i茅台上的普茅投放量将基于防止炒作、供需适配及市场稳定原则设定。实际上，由于i茅台是贵州茅台的自营渠道，在茅台酒批价大幅波动时，公司可以通过调节i茅台上的投放量，来防止茅台酒市场价格的急涨急跌，维护茅台酒的价格稳定。“从长远来看，价格大幅波动既损害消费者利益，也损害渠道商和厂商的长远利益。短期可能通过炒作获得高额收益，但对整个产业而言是不利的。因此，公司会想尽一切办法，尽最大努力稳定价格，这既是对广大消费者负责，也是对产业链上的厂商和渠道商负责。”在不久前的经销商大会上，茅台集团董事长陈华也直言。2026年茅台仍有望实现稳健增长i茅台上架1499元/瓶的飞天茅台的举措，其长期意义远超单次渠道调整，而是构建了一个覆盖公司、经销商、消费者、股东的多方共赢生态，也是茅台市场化改革的关键之举。于茅台自身而言，最大的收获在于获取了真实有效的消费数据资产。依托i茅台的庞大用户基数，茅台能够精准分析用户行为、购买偏好与动销数据，实现科学的产品投放与库存管理，这种数据驱动的“智慧投放”模式，能有效避免盲目压货，促进渠道库存健康化，显著增强整体渠道的抗风险能力。于茅台经销商群体而言，虽然告别了“躺赚”的价差红利，但获得了更具可持续性的发展空间。不久前，贵州茅台明确提出将逐步告别“依靠单一产品补贴其他产品、导致渠道整体盈利摊薄”的旧模式，转向通过合理利润分配与长期价值共创维护渠道生态。同时，贵州茅台将构建“自售+经销+代售+寄售”的多维协同销售模式，推动渠道从“树干式分销”向“森林式生态”转型，经销商得以从单纯的“价差套利者”转变为“价值服务商”，在拓展新客群、挖掘消费场景中获得定价自主权与长期收益。而广大消费者无疑是此次渠道改革的最大的受益者。以往“一瓶难求”的困境将得到根本缓解，通过i茅台的常态化申购，消费者能够以官方指导价公平、快捷地购买到保真茅台酒，无需再为高价购酒或买到假货而担忧。这一变化将有效提升茅台酒的“开瓶率”，让更多消费者真正体验到产品价值，推动品牌口碑在真实消费场景中持续沉淀。于茅台股东而言，茅台的市场化转型，或许会有一定的短期阵痛，但长期来看将将带来公司治理的改善与稳健的价值回报。随着定价权与渠道控制权的回归，公司盈利能力将持续优化，业绩确定性显著增强，为股东创造稳定收益。长期来看，价格市场化，对公司、经销商、消费者、股东都达到共赢。整体来看，在多措并举之下，2026年贵州茅台仍有望实现稳健增长。近日，国际顶级投行——高盛就发布研报认为，在2026年贵州茅台削减非标配额，聚焦普茅核心单品，并通过精品茅台扩量，渠道改革等战略下，公司2026年营收预计稳健增长。本文转载自“财联社”；智通财经编辑：严文才。","news_type":1,"symbols_score_info":{"600519":1.5}},"isVote":1,"tweetType":1,"viewCount":233,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":518101770735928,"gmtCreate":1767512604823,"gmtModify":1767512607050,"author":{"id":"3554791744663453","authorId":"3554791744663453","name":"peter1","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3554791744663453","idStr":"3554791744663453"},"themes":[],"title":"","htmlText":"<a 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