On the evening of April 29, Kweichow Moutai issued an announcement that, according to the relevant documents of the Guizhou Provincial People's Government, Zhang Deqin was recommended as a director and chairman of Kweichow Moutai Co., Ltd., and Ding Xiongjun was no longer the chairman and director of the company.
According to the resume released in the announcement, Zhang Deqin has served as Secretary of the Party Committee and Chairman of Moutai Group, and Secretary of the Party Committee of Kweichow Moutai Co., Ltd.
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Zhang Deqin data map. Source: Kweichow Moutai official website
It is reported that Zhang Deqin has worked in Moutai Group for many years and has been at the helm of Xijiu twice.
Why did you choose Zhang Deqin as the chairman of Kweichow Moutai at this time?
Xiao Zhuqing, an independent commentator on China's liquor industry, believes that Kweichow Moutai's recent stock price is unstable, and the transaction price of Moutai liquor in the market is unstable. He was also sent to Xijiu Company as the chairman of the board of directors, independently supporting Xijiu to cross the 20 billion yuan mark, and returning to Kweichow Moutai to take charge of the overall situation at a critical moment, which will play an important role in stabilizing the confidence of investors and the confidence of Moutai's upstream and downstream industry chain partners, especially stabilizing the price of Moutai in the market.
At the same time, the new chairman also faces certain challenges. For example, in the future, will Moutai expand its own channels or rely on Moutai's traditional channel agents?
According to Xiao Zhuqing's analysis, Moutai's traditional channel dealers have made great contributions to Moutai's public awareness and psychological price expectations in today's society. The traditional dealers of Moutai in various places have strong stickiness, high-quality circle resources and social influence, and have made great contributions to maintaining Moutai's price and market order.
Kweichow Moutai's direct sales system sales performance has accounted for nearly 50%, and further increasing the proportion of direct sales performance may trigger Moutai's traditional channel partners to resist passively slacking off or change their doors with high-net-worth private domain traffic resources, which will affect the foundation of Moutai's channels.
In addition, Kweichow Moutai's recent frequent launch of new "Scattered Flowers Flying Sky", "Xunfeng Moutai" and "Moutai Cultural and Creative Liquor (Spring, Summer, Autumn and Winter)" has brought certain pressure to the high-end liquor market with "involution" shrinkage.
At the same time, the internationalization of Moutai, which has just been launched, needs to expand the influence of the international capital market on the one hand, attract international capital investors to hold Kweichow Moutai for a long time, and on the other hand, it needs to make Moutai's influence and consumption coverage break through the Chinese circle.
Ding Xiongjun data map. Source: Moutai Group's official website
Ding Xiongjun, who previously served as the chairman of Moutai Group, was born in August 1974 in Chongyang, Hubei Province, and studied and taught at Wuhan University in his early years.
After graduating with a doctorate, Ding Xiongjun went to work in Guiyang City and served as the secretary of the Baiyun District Party Committee. In November 2013, he was appointed Deputy Secretary-General of the Provincial Government. In 2016, he was transferred to the Standing Committee of the Bijie Municipal Party Committee and Executive Deputy Mayor. In November 2018, he was reappointed as Secretary of the Party Leadership Group and Director of the Provincial Energy Bureau.
In August 2021, the Guizhou Provincial Government agreed to recommend Ding Xiongjun as a director and chairman of China Kweichow Moutai Distillery (Group) Co., Ltd., and a candidate for director and chairman of Kweichow Moutai Co., Ltd. In September of the same year, Kweichow Moutai Co., Ltd. issued an announcement to elect Ding Xiongjun as the chairman of the company's third board of directors.
On April 26, Kweichow Moutai announced its financial report for the first quarter of 2024. From January to March 2024, Kweichow Moutai achieved a total operating income of 46.485 billion yuan, a year-on-year increase of 18.04%. The total profit was 33.174 billion yuan, a year-on-year increase of 15.59%. net profit attributable to shareholders of listed companies was 24.065 billion yuan, a year-on-year increase of 15.73%.
■Synthesized from Kweichow Moutai Co., Ltd., Shanghai Stock Exchange, and the WeChat public account of "Governor of Chang'an Street".
■Editor: Yue Yue, Zhang Grandma