The adjustment of Maotai’s distribution system continues. According to the three quarterly reports recently disclosed by Guizhou Maotai (600519, SH), another 342 dealers were reduced during the reporting period. Red Star capital Bureau combed the financial reports in recent years. From the second half of 2018, Maotai began to lay off dealers. Overall, in more than two years, 1589 dealers were out. Even with the addition of 1163 new dealers, the total number of dealers has decreased. < p > < p > the Red Star capital Bureau has noticed that among the dealers being cleaned up, there are “Mao er Dai” who used to add halo, there are a number of “exchanges” supported by “big guys”, and there are ordinary dealers who illegally raise prices < / P > < p > used to be a “Star” dealer in Maotai, and was the favored son of the dealer team. However, Guo Qifeng has become one of the many dealers who have been cut down for two years. Guo Chaoren, chairman of Guangzhou Chaoyang Trading Co., Ltd. (hereinafter referred to as “Guangzhou Chaoyang”), was once a “Star” dealer in Maotai and was the favored son of the dealer team. According to the data, Guo Chaoren, born in 1979, had been engaged in the sales of Maotai. In 2007, Guo returned from Canada and began to sell Maotai in 2008. < p > < p > according to Sohu Finance and economics report, around 2012, when the market gradually went from oversupply to oversupply, Guo Chaoren and his team took the lead in launching the experiential marketing model of Maotai, “we must change the thinking of” the emperor’s daughter does not worry about getting married. “. According to the introduction, “Sanfan space” is different from the ordinary Maotai stores at that time. It can also spread Maotai culture and carry out different forms of Maotai brand experience activities. There are Maotai liquor history gallery, art gallery, activity center, creative space, etc. In addition, Guangzhou Chaoyang was once a provincial special distributor of Maotai, and Guo Chaoren served as the Deputy Secretary General of Maotai Guangdong Friendship Association. Not only that, Guo Chaoren also stood in front of the spotlight for many times, telling the world about his understanding of Maotai culture and liquor sales. In 2013, Dan bin, chairman of Shenzhen dongfanggang Investment Management Co., Ltd. (hereinafter referred to as “dongfanggang”), who was nicknamed “famous Maofen”, also forwarded Guo Chaoren’s exchange records with Guizhou Maotai investors on snowball platform in his own blog. In addition, Guo Chaoren was also called “new wine merchant” by various media. However, in the past two years, the high spirited Guo Chaoren has become one of many “reduced” dealers. < p > < p > according to Tianyan app, Guangzhou Chaoyang has been cancelled by industry and Commerce in September 2019, and Guo Chaoren has also changed his mobile phone number. < p > < p > on October 27, the Red Star capital Bureau called Guangzhou sauce craftsman Wine Co., Ltd., whose shares were 35% by Guo Chaoren. Liu Yilin, the director and general manager of the company, told the Red Star capital bureau that the company was also a dealer of Maotai liquor, “but it is no longer.”. < / P > < p > it is suspected that the actual controller is Liu Yonghao, a “big man” in the business world. Many institutions, such as country garden and Guizhou Maotai Group, also hold indirect shares in it. Even if the stars of Guizhou liquor exchange shine, it is difficult to obtain the number of distributors again. In April 2020, a dealer named “Guizhou liquor exchange” was disqualified by Maotai, which also attracted much attention. Guizhou liquor exchange, fully known as Guizhou liquor Exchange Co., Ltd., was established in 2012 and is the company behind app “maojiuhui”. According to the introduction of Guizhou liquor exchange, the Institute is a liquor factor trading market approved by the people’s Government of Guizhou Province. It has the service functions of registration, trusteeship, trading and payment, and provides a variety of services such as liquor product issuance, trading, rating and pricing, investment and financing, storage supervision, etc. According to the announcement of Maotai on March 27, the marketing behavior of Maotai liquor in Guizhou liquor exchange has caused serious adverse effects on Maotai brand image. “In accordance with the” Guizhou Maotai liquor (special contract) distribution contract “, our company decided to cancel the Maotai liquor distribution right of its holding subsidiary, Guizhou baijiuhui e-commerce Co., Ltd., and terminate the distribution contract.” < p > < p > the Red Star capital Bureau has noted that this “marketing behavior” is related to the epidemic hot spots. On March 21, Guizhou liquor Exchange issued a “salute to the most beautiful” reverse Walker “of Guizhou liquor exchange’s 1499 Maotai liquor directly supplied to Guizhou’s aid to Hubei Province for epidemic prevention, and posted a poster of” 1499 yuan Maotai liquor directly supplied to Guizhou aid Hubei medical personnel, with a limit of 6 bottles per person “, announcing that all qualified personnel can purchase 53 degree 500ml Feitian Maotai liquor from designated channels. But as soon as the news came out, it was hotly discussed on the Internet, and the netizens’ accusations caught the exchange by surprise. On March 23, Guizhou liquor exchange was interviewed by Guizhou Provincial Market Supervision Bureau; the final date of “price index” disclosure of Guizhou liquor exchange also stayed on March 23. < p > < p > tianyancha app shows that behind the Guizhou liquor exchange, Jinhui fortune Capital Management Co., Ltd., Guizhou Hengfeng Weiye Real Estate Development Co., Ltd., Guizhou Huibang Industrial Co., Ltd., Guizhou Haiheng Real Estate Development Co., Ltd., and Guizhou Jinhua rundi Investment Co., Ltd. are the five major shareholders. However, Liu Yonghao, chairman of new hope (000876, SZ) and “big man” in business circles, was analyzed as his suspected actual controller. In addition, country garden, Guizhou Maotai Group and other institutions also indirectly hold shares in it. < / P > < p > according to the news from the former Maotai, there will be no new dealers in the future. This also means that even if the stars of Guizhou liquor exchange shine, it is difficult to obtain dealer quota again. In the distribution system of Maotai, Maotai liquor and series liquor are two business lines. “Maotai liquor” refers to Guizhou Maotai, while “series liquor” refers to Maotai Prince liquor, Maotai welcome wine, laimao liquor and other categories. < / P > < p > unlike the previous two years when Maotai liquor dealers were adjusted as the main battlefield, since this year, most of the dealers have been banned. Among the 342 dealers cut, 301 are Maotai series liquor dealers and 41 are Maotai liquor dealers. In order to optimize the distribution of marketing network and enhance the overall strength of dealers, Maotai explained that the adjustment was made to series liquor dealers. Red Star capital Bureau noted that since this year, the previously high-speed growth of the series of wine revenue began to negative growth, production capacity has also decreased. < / P > < p > some senior wine industry personages have also analyzed the Red Star capital Bureau. Under such a background, considering the sales situation and profits of series liquor dealers, the reduction of series liquor dealers’ team is a matching of business situation. < p > < p > on October 28, a reduced series of liquor dealers in Chengdu told the Red Star capital bureau that it was not a pity to lose the distribution qualification. “We don’t sell Maotai liquor. It’s hard to sell a series of liquor, so we can’t sell it.” < p > < p > let’s look at Maotai. Compared with the “Buddhist” attitude of series liquor dealers, the circulation price of Feitian Maotai has been as high as nearly 3000 yuan, and the distribution right is even more popular. < p > < p > in August 2019, China discipline inspection and supervision daily disclosed that the adjustment of Maotai liquor dealers is the need of anti-corruption. According to reports, Maotai liquor adopts a franchise mode. As long as you get the qualification or approval of a franchised store or dealer, you can make money by changing hands without operating management. In the two rounds of self-examination and clearance in Guizhou Province, a total of 392 leading cadres of Party and government organs, public institutions and state-owned enterprise managers at all levels reported that they had or had been involved in the operation of Maotai liquor. In the four rounds of self-examination of Maotai Group, 275 managers and employees reported that they had participated in or had participated in the business activities of Maotai liquor. In the special rectification, a total of 514 dealers in Guizhou Province have been cancelled the business rights obtained through illegal examination and approval. < / P > < p > in two typical cases of Guizhou Maotai liquor market order rectification announced by Guizhou provincial and Municipal Supervision Bureau on September 2, Xingyi xuankai economic and Trade Co., Ltd. (hereinafter referred to as “xuankai economy and trade”) and Guizhou Haiba Trade Co., Ltd. (hereinafter referred to as “Haiba trade”) were suspended from selling Maotai liquor market due to price increase on the basis of official guidance price around 2019 Taiwan liquor distribution rights. < p > < p > on October 27, red star capital Bureau called Tang Rongkai, chairman of xuankai economic and Trade Co., Ltd., but did not reply. The chairman of Haiba trade revealed his loss in his tone: “it has nothing to do with me”, “I don’t want to express any opinions”, and hung up the phone. In fact, the reduction of distribution system is only the first step in Maotai’s channel integration, whether it is to clean up anti-corruption or cooperate with business lines. Next, it is the expansion of direct marketing channels. < / P > < p > in May 2019, the marketing company of Maotai Group was established at the same time of large-scale internal clearance of illegal Maotai liquor dealers. Mao Tai once said that in order to realize reasonable regulation and control of increment, it is necessary to actively expand new channels. One of the key points is to expand direct sales channels and promote marketing flattening. < p > < p > on June 18, this year, the signing ceremony of Guizhou Maotai Liquor’s direct sales channel in 2020 was held in Maotai town. Red Star capital Bureau has noted that 22 regional KA (important customers) stores, liquor vertical e-commerce and tobacco retail chain stores, including Huijia times (603101, SH), Hefei Department Store (000417, SZ), St renle (002336, SZ), 1919 (830993, OC), Sichuan chengzhicheng tobacco Investment Co., Ltd., have signed up to become direct marketing channel providers of Maotai liquor. < / P > < p > look at the sales figures again. According to the third quarter report, from January to September, revenue realized through direct sales was 8.4 billion yuan, accounting for 12.5%. In the same period last year, the figure was 3.1 billion yuan. In other words, direct sales revenue increased by more than 170% year-on-year. < / P > < p > “the expansion of direct sales channels is also more conducive to the regulation and control of prices, profits and sales volume of enterprises.” The above-mentioned liquor industry personage said that on the basis of no price increase, the direct sales channel is also an important means to realize the performance growth of Guizhou Maotai. < / P > < p > on the one hand, the supply of Maotai liquor is in short supply and the price of Feitian Maotai remains high; on the other hand, the growth rate of series liquor slows down. Through channel adjustment, whether the real “two wheel drive” of Maotai liquor and Maotai flavor liquor can be realized still needs to be verified by the market. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. 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