bestlaboucheresequence| Chairman of Moutai, after four terms in six years, the liquor industry has changed again?

Special topic: Zhang Deqin served as chairman of Maotai Group and was recommended as chairman of Guizhou Moutai.

Source: China News Network

The market price in Feitian Moutai is falling frequently.BestlaboucheresequenceAt the same time, Maotai Group also ushered in the news of coach change.

On the evening of April 29, Guizhou Moutai issued a notice saying that according to the relevant documents of the Guizhou Provincial people's Government, Zhang Deqin was recommended as the director and chairman of Guizhou Moutai Liquor Co., Ltd., and suggested that Ding Xiongjun no longer hold the post of chairman and director of the company.

Ding Xiongjun was transferred to director of Guizhou Provincial Market Supervision Administration (Guizhou Provincial intellectual property Office), according to the Guizhou Provincial people's Government Network.

Chairman of Maotai has been replaced four terms in six years.

As the "king of A-share shares", Guizhou Moutai has been replaced for four consecutive terms in six years.

On August 30, 2021, Ding Xiongjun, then director of the Guizhou Provincial Energy Bureau, took over Gao Weidong and became the youngest chairman in the history of Guizhou Moutai at the age of 47.

It is worth noting that two of Ding Xiongjun's predecessors were sentenced to "life": yuan Renguo, former deputy secretary of the Guizhou Moutai party committee and former chairman, was expelled from the party in 2019 and sentenced to life imprisonment in 2021 for accepting bribes. Gao Weidong, who was party secretary and chairman of Guizhou Moutai in 2022, was expelled from the party and sentenced to life imprisonment in February 2024.

Before Ding Xiongjun became chairman of Maotai, with the recovery of the liquor industry, the terminal retail price of Maotai began to rise continuously, but the "price two-track system" also hurt Moutai's own interests. Guizhou Moutai net profit increased by 9% in the first half of 2021.Bestlaboucheresequence.08%, less than double digits for the first time in five years.

On the day Ding Xiongjun took office, Kweichow Moutai shares closed down 0.63%, and the total market capitalization fell below 2 trillion yuan, near the lowest level in three years. This also reflects the market's concern about the development prospects of Maotai at that time.

Under heavy pressure, price control and channel reform became an important task faced by the chairman of Maotai at that time.

The youngest chairman of Maotai

What did you leave behind?

During his two years and eight months in office, what did Ding Xiongjun who parachuted into Maotai leave behind?

Price control is the primary problem faced by Ding Xiongjun, and his "three axes" first waved to the "unpacking order" left by his predecessor Gao Weidong. This price control measure, which created the "sky-high price cartons" in Maotai, was eventually replaced by a "supplementary policy of unpacking 12 bottles" after much controversy, and the activity of "booking a room and buying two bottles of wine" at Maotai International Hotel also ended.

After improving the price control measures, Ding Xiongjun began to plan to increase profits. Under the circumstances that the ex-factory price of Feitian Maotai has been unable to increase for a long time, through 4599 yuan of ultra-high-end treasures Moutai, Moutai 1935, solar terms Moutai, 100ml Feitian Moutai, Sanhua Feitian, Kuifeng Maotai and other products "Shangxin", the price increase strategy of non-core products is constructed to enrich the product matrix and expand the profit boundary of high-end products.

In terms of channel reform, Ding Xiongjun opened up online channels and launched "I Maotai" APP. In addition, the "young chairman" is also committed to letting the "wind of the Z era" blow into Maotai, successively launching online celebrity "explosions" such as Maotai ice cream, Maotai-flavored lattes and Maotai chocolates, making Maotai earn a lot of topics on social networking platforms. in order to promote the brand younger.

A series of reforms of Ding Xiongjun have also brought new changes to Moutai, Guizhou. Guizhou Moutai financial report shows that in 2023, the sales revenue of "I Moutai" was 22.374 billion yuan, an increase of 88.29 percent over the same period last year. The revenue of the entire direct marketing channel reached 67.233 billion yuan, an increase of 36.16 percent over the same period last year, accounting for 45.67 percent of the channel income, accounting for nearly half of the total.

The return of "Old Maotai people"

What new development problems do you face?

When Ding Xiongjun leaves office, the liquor industry has changed again.

Since 2023, the whole liquor industry has entered a period of deep adjustment, market demand is weak, mobile sales are slowing down, and "destocking" has become the focus of the industry. For Maotai itself, the growth rate of direct sales revenue began to slow in the first quarter of 2024, and the recent frequent decline in the market price of bulk Feitian Maotai Liquor and hot search has also aroused market concern. At the same time, there is still a long way to go to balance the interests of direct sales channels and wholesalers' channels.

These questions were handed over to his successor, Zhang Deqin.

Unlike the "airborne" of previous chairmen, Zhang Deqin, 51, is an old Maotai native who came out of the workshop.

On April 27, Zhang Deqin investigated the production quality of Maotai liquor. The picture is from the official website of Guizhou Moutai Group.

According to public data, Zhang Deqin graduated from Guizhou University of Technology in 1995 majoring in fermentation engineering. Since then, he has joined Guizhou Moutai Liquor Co., Ltd., where he has successively served as a technician, secretary and deputy director of the fifth workshop, director of the second workshop, and assistant to the general manager. In 2010, Zhang Deqin served as assistant to the general manager of Guizhou Moutai Distillery Co., Ltd., and deputy secretary of the party committee, chairman and general manager of Xijiu Group, a wholly owned subsidiary of Guizhou Moutai. In July 2022, Xi Jiu officially left Maotai Group to "fly alone". Zhang Deqin, who briefly left the liquor industry, also returned to Xijiu as party committee secretary and chairman of Guizhou Xijiu Investment holding Group Co., Ltd.

Cai Xuefei, a liquor industry analyst and general manager of Zhixiu Consulting, told Zhongxin Finance that Zhang Deqin and his team are the key to the rapid development of Xijiu in recent years and the biggest supporting force for the nationalization, high-end and 20 billion sales of Xijiu.

"considering that Zhang Deqin himself has worked as an assistant to the general manager of Maotai, and belongs to a leader who has grown up in the Maotai system, and is familiar with the operation of the Maotai system and its internal and external environment, it should be said that Zhang Deqin's arrival has important breakthrough value and significance for Maotai's future development strategy."

According to the official website of Guizhou Moutai Group, on April 27, Zhang Deqin went deep into the liquor-making workshop and storage workshop to investigate the production quality of Maotai Liquor.

Cai Xuefei believes that for Zhang Deqin, maintaining the stable and reasonable growth of Maotai is the core issue. "specifically, the first is the internal reform and the improvement of production management efficiency in Maotai; the second is the balance and development between the direct operation of Maotai and the traditional dealers; the third is how to give better play to the leverage and supporting role of Maotai in the regional economy in Guizhou; the fourth is to give full play to the leading role of Maotai to promote the relevant industrial clusters to become bigger and stronger; the fifth is to promote the transformation and development of Maotai's youth and internationalization."

On April 30, Kweichow Moutai closed at 1705 yuan, up 0.06%.

Original title: "Chairman of Moutai, changed four terms in six years"