On January 17, Red Star Capital Bureau learned from inquiries to multiple Moutai flagship stores that the requirements for private enterprise clients to purchase Feitian Moutai at the price of 1,499 yuan have been relaxed in many locations: private enterprises with an annual tax payment exceeding 1 million yuan in the previous year can now apply to the Moutai flagship store in their company's registered location to purchase 53-degree 500ml Feitian Moutai at 1,499 yuan. Purchase is permitted after successful filing, but liquor retailing enterprises are not eligible to apply. Today, a relevant person from Moutai Sales Company informed Red Star Capital Bureau that flagship stores are currently signing 2026 sales contracts with existing corporate group purchase clients. The products sold are selected based on the consumption needs of these corporate group purchase clients, which include core products like the 500ml Feitian Moutai. The aforementioned application process is currently only available to existing corporate group purchase clients and is not open to new corporate customers. Currently, there are 42 Moutai flagship stores nationwide. Inquiries made by Red Star Capital Bureau posing as corporate clients with purchase intent revealed that the application conditions vary among flagship stores in different regions. However, none of the contacted stores mentioned the restriction that it is "not open to new corporate clients." When applying, staff at the flagship stores only indicated that documentation needed to be submitted and did not inquire whether the applicant was an existing client. A staff member from the Ningxia flagship store told Red Star Capital Bureau that this year's conditions have been relaxed compared to previous years, and purchasing Feitian Moutai at 1,499 yuan does not require bundling with other products. The staff member also mentioned that the relevant conditions are adjusted annually. A staff member from the Shenzhen flagship store explained that Shenzhen primarily focused on developing listed companies in the past two years, but this year, meeting the two hard criteria of "tax payment of 1 million yuan" and "local registration" is sufficient. Currently, purchasing liquor at this flagship store still involves a small amount of product bundling, but the bundled products are relatively inexpensive, negotiable, and subject to inventory availability. According to a 21st Century Business Report, a flagship store in South China indicated that any enterprise can apply for filing as long as it is not a specialized liquor retailing company; a flagship store in North China stated that the applying enterprise cannot be involved in pre-packaged beverages or alcohol. Red Star Capital Bureau noted that on the evening of January 13, Kweichow Moutai Co.,Ltd. (600519.SH) announced that its board of directors had reviewed and passed the "2026 Kweichow Moutai Market-Oriented Operation Plan." This plan makes corresponding adjustments across four aspects: product system, operational model, channel layout, and pricing mechanism. The plan indicates that Kweichow Moutai will transition from the traditional sales model of "direct sales + distribution" to a multi-dimensional collaborative marketing system incorporating "direct sales + distribution + agency sales + consignment sales." This aims to better adapt to, reach, and convert consumer demand. It will establish a parallel channel layout encompassing five major pathways: wholesale, offline retail, online retail, food service, and private domains. Through the integrated transformation of "online + offline" operations—managing efficiency and reach online, and managing conversion and services offline—a consumer-centric,良性 (healthy) channel ecosystem will be formed.
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