Moutai’s overseas market-oriented reform: those who have been long-term "lying flat" and not seriously engaging in the market will face "entry and exit" mechanisms.

How does AI · Channel Partner Dynamic Management Drive Overseas Growth?

Latest data shows that in 2025, China’s Baijiu exports will reach 16,791.86 thousand liters, a 2.5% increase year-over-year. Amid fierce domestic stock competition, overseas markets are becoming a new growth space for the industry.

Despite impressive growth figures, industry export quality is not very optimistic. During the same period, Baijiu export value was about $893 million, down 7.6% year-over-year; average export price was $53.2 per liter, a 9.9% decrease. Volume growth is slowing, and prices are under pressure, revealing that the industry’s internationalization is still in the early stage of exchanging price for volume, with brand premiums and market structure still needing reshaping.

Shifting from product export to deepening brand cultivation is a crucial hurdle for Chinese Baijiu.

As an industry leader, Guizhou Moutai alone earned 3.893 billion yuan from overseas in the first three quarters last year, a 204.38% increase year-over-year. Even so, this accounts for a very small proportion compared to its total revenue of over 120 billion yuan in the same period. Meanwhile, the challenges in overseas markets go beyond “who the liquor is sold to,” including systemic issues like return liquor governance, consumer cultivation, and channel control.

On March 16, the Moutai 2026 International Channel Partner Conference was held in Guiyang. It is understood that Moutai Import & Export has completed the “2026-2030 Guizhou Moutai International Market Marketization Transformation Plan.” Chairman Chen Hua clarified the direction of international market transformation from three dimensions: product, price, and channels. This marks the official launch of Moutai’s “overseas version” of its market-oriented transformation that began at the end of December last year.

Flying Fairy no longer “dominates alone”
International low-alcohol products on the agenda

Product globalization is the starting point of Moutai’s “three-step” internationalization strategy. During the conference, Chen Hua first outlined the path for optimizing product structure, aiming to break the long-standing over-reliance on 53-degree Flying Fairy in overseas markets.

He proposed to solve the “single support” situation of 53-degree Flying Fairy in the international market by building a “pyramid” product matrix with 53-degree Flying Fairy as the “base,” and premium and overseas cultural editions as the “apex.” Aged Moutai products will focus on maintaining their extreme scarcity and high-end brand image in their deployment.

Notably, zodiac liquor is becoming a dark horse in the “pinnacle” camp. The company revealed that in 2025, sales of Moutai zodiac liquor overseas increased by 135.5% year-over-year. This indicates a shift from a single product support to a diversified product structure.

Lower alcohol content has also been elevated to a strategic level. The conference explicitly mentioned exploring and developing low-alcohol Moutai international editions, positioning them as another key category for integrating Moutai into mainstream overseas consumer markets and truly reaching local consumers.

Series liquors are also highly anticipated. Company executives stated at last year’s special shareholders’ meeting that, because the prices of series liquors closely align with international spirits’ mainstream price ranges, they have higher growth potential.

This conference further clarified that, based on regional market realities, efforts will be increased to promote series liquors and develop low-alcohol series products that meet international market demands, continuously improving Moutai’s global product matrix to better satisfy overseas consumers’ diverse needs.

Cracking down on return liquor: Price system overhaul
Suspending supply is just the beginning

Price is another core competitiveness beyond quality. For Moutai, which is advancing internationalization, the stability of the overseas market price system directly impacts the brand’s overseas value realization.

A significant challenge is the impact of “return liquor” on prices overseas. The reporter noted that on some e-commerce platforms, the price of overseas 53-degree Flying Fairy has already fallen significantly below the domestic guide price of 1,499 yuan per bottle. In previous earnings calls, investors repeatedly mentioned this phenomenon, believing that low-priced return products negatively affect Moutai’s brand image, pricing system, and market reputation.

The issue has attracted high attention from the company. In November last year, Moutai announced it had suspended some channel supplies, signaling a clear move to regulate international channels and address return liquor chaos.

At the international channel partner conference, Chen Hua further clarified a systematic approach to price governance. He proposed to improve the market pricing system by adhering to principles such as “product-price matching, reasonable tiers,” “market-oriented, dynamic adjustments,” “competition-driven, channel win-win,” and “return liquor governance, ecological cultivation.” The goal is to set reasonable prices based on domestic and international market conditions, establish a dynamic adjustment mechanism, and promote synchronized pricing and brand consistency globally. Strict control over return liquor and cross-traffic will be maintained to safeguard a well-regulated international market environment.

Industry analysts point out that “product-price matching” means different products should correspond to different price tiers, forming a clear value hierarchy; “market-oriented” requires prices to be set considering actual conditions domestically and abroad, with a dynamic adjustment system; “competition-driven” emphasizes enhancing overall price competitiveness while ensuring channel profitability. “Return liquor governance” is singled out to strictly control product return and cross-traffic, aiming to maintain a healthy, orderly international market ecosystem.

Southeast Asia performance quadruples
Overseas channels must be “able to enter and exit”

By 2025, Moutai’s international channel development will accelerate.

Latest data shows that Moutai continues to improve its international channel management system, implementing tiered and categorized dynamic management, with over 20 new channels added throughout the year. Meanwhile, the company conducts in-depth monitoring in 12 key global markets, building a dynamic pricing model to stabilize market prices and ensure channel profitability.

Channel layout optimization is translating into market growth. The conference revealed that in 2025, Moutai’s duty-free sales will double, with Southeast Asia sales increasing more than fourfold.

Building on the initial channel network, Moutai further clarified its focus on Chinese communities and overseas Chinese merchants as entry points for key markets, leveraging the “Chinese flow” trend to precisely meet overseas demand, cultivate consumption scenarios, and shift local consumers’ perception from awareness to recognition, extending Moutai from “Chinese community” to broader local circles.

Based on this approach, Moutai will develop a more systematic and efficient channel network.

On one hand, it will coordinate regional channel deployment, considering factors like regional economic levels, consumption habits, cultural characteristics, and market foundation, making Southeast Asia and East Asia flagship markets. New partner development will adhere to a “select the best” principle, while avoiding disorderly expansion.

In terms of channel structure, Moutai insists on the coordinated development of “online” and “offline” channels. Online, it will cooperate with leading international e-commerce platforms and utilize self-operated channels like Hong Kong and Paris trade companies; offline, it will vigorously develop and reasonably deploy duty-free channels, large international supermarkets, catering, and private domains, to comprehensively enhance consumer reach both online and offline.

Once the channel network is established, management becomes critical. Chen Hua emphasized the need to improve the channel partner evaluation and assessment system, providing greater policy support and resource tilt to strong, reputable, and market-expanding partners; offering guidance and assistance to those with weaker operational capacity; and enforcing market rules for long-term “laziness” or unmarketable partners, ensuring “able to enter and exit” as needed.

Daily Economic News