Moutai Shareholders' Meeting: The price of Moutai liquor must not fluctuate drastically; the company currently has no plan for a stock split.

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Kweichow Moutai concentrated its responses on the three most closely watched topics at the 2025 annual shareholders meeting, releasing clear signals to the market.

On June 11, Kweichow Moutai Group Chairman Chen Hua stated at the shareholders meeting that the price of Moutai liquor will "follow the market and remain relatively stable," without significant fluctuations, and urged the public to "not spread or believe rumors" regarding price adjustment information circulating online. This is the most direct public statement from Moutai management on the issue of pricing recently, and holds significant reference value for investors closely monitoring Moutai's pricing trends.

At the same time, Chen Hua made it clear the company currently has no plans for a stock split, citing "divergent and divided" views among shareholders. General Manager Wang Li commented on brand co-branding, stating that Moutai's greatest asset is its brand and reputation, and that future brand partnerships will be "very cautious." The model of co-launching Sauce Latte with Luckin Coffee is unlikely to be replicated in the short term.

Price Management: Promise of Stability, Strict Control of Information Leakage

Chen Hua's remarks on Moutai liquor pricing at the shareholders meeting were cautious and clear.

He stated that the company will adhere to the principle of "matching supply and demand, balancing quantity and price," with price adjustments set to "follow the market and remain relatively stable," explicitly opposing large fluctuations.

Notably, Chen Hua specifically mentioned that Moutai liquor price adjustments are under intense public scrutiny, and that the company keeps related information "highly confidential," directly criticizing various price information circulating online, urging all parties to "not spread or believe rumors." This statement indicates that Moutai management has placed price information control high on the agenda, and speculation or hype about price trends in the market may now face stronger information barriers.

Stock Split Issue: Obvious Shareholder Disagreement, No Plan for Now

Regarding the long-discussed issue of stock splits, Chen Hua gave a clear negative answer. He said that after comprehensive evaluation, the company currently has no plans to split shares, mainly due to "divergent and divided" views among shareholders.

This shareholders meeting attracted over a thousand shareholders, institutional investors, and analysts from across China to Moutai Town; the stock split issue was one of the focuses for those present. Management's statement puts a period on this topic for the short term, but also indicates the company hasn't fully closed off future discussions.

Brand Co-Branding: A Return to Caution, Emphasis on Reputation Protection

Regarding brand strategy, Wang Li responded to shareholder questions about brand partnerships. She defined the issue as a core topic of "brand management and youthfulness," emphasizing that Moutai's greatest asset is its brand and reputation, thus future brand co-branding will be "very cautious."

This statement means that the marketing path of Moutai's Sauce Latte jointly launched with Luckin is unlikely to become a regular strategy in the short term. For those who hoped that Moutai would expand its young consumer base through cross-industry co-branding, this statement represents a degree of revision of previous market expectations.

Why Was There No Moutai at the Shareholders Dinner? Moutai: Must Act with Caution

A detail on the eve of the shareholders meeting also drew attention. According to the Paper, at the welcoming dinner prepared for attending investors on the evening of June 10, not only was no alcohol served, but last year’s controversial Moutai Eco Agriculture blueberry juice was also replaced, with only common beverages like cola, Sprite, and orange juice supplied.

In response, Wang Li stated at the shareholders meeting that whether last year’s blueberry juice or this year’s cola, both sparked heated discussion online, "This fully demonstrates that any detail in Moutai’s work arrangement will receive close attention from society." She said that as a highly watched listed company, Moutai must act with caution and continuously improve its compliant operation.

Wang Li further introduced that over the past three years, Moutai has organized a map of its regulations across 23 areas, horizontally covering all sectors of enterprise operations and vertically spanning from management to workshop teams, ensuring there is a basis for every task. She emphasized that the shareholders meeting is a formal work meeting, and related reception arrangements must strictly adhere to regulatory standards, inviting shareholders to participate in "Maoyou Carnival" and other market promotion events as consumers to experience the company’s products and services.

To be updated......

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