Photo/ Xiong Jianan (NBD)

On May 29, despite the cooling effects of the continuous rain in the town of Maotai, investor enthusiasm remained undiminished. Zhang Deqin, who had just completed his first month as the Chairman of Kweichow Moutai, made his debut at the 2023 Annual Shareholders' Meeting of the Company.

Zhang emphasized that quality takes precedence over production, efficiency, and speed, saying "output, efficiency, and speed must all be subordinate to quality".

With over 1,700 registered attendees, surpassing recent years, the meeting was moved to a larger venue, the "Kweichow Moutai Conference Center," due to high demand.

Zhang highlighted the importance of brand reputation and quality, stating that all aspects of production must yield to maintaining high-quality standards. He also stressed the importance of traditional craftsmanship and the natural environment in creating Kweichow Moutai's distinct flavor.

Regarding distribution and innovation, Zhang expressed a commitment to respecting and valuing distributors as part of the Kweichow Moutai family. He announced plans to hold distributor symposiums to gather feedback and address concerns about pricing and direct sales.

Photo/Xiong Jianan(NBD)

On the topic of internationalization, Zhang revealed that Kweichow Moutai is deeply researching its global strategy and will integrate with local cultures as it expands.

In response to shareholder inquiries about dividends, Zhang acknowledged the company's consistent high dividend payout ratio and said the company would consider increasing it further.

Lastly, Zhang addressed the competitive and cooperative relationship with other local liquor companies, expressing a desire for mutual improvement and progress.

Zhang concluded by reiterating Kweichow Moutai's commitment to stable, healthy, and sustainable development, aiming to lead the industry during prosperous times.