Moutai non-standard product consignment sales implemented: stores are already executing, and the first batch of consigned products has been shipped gradually.

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Red Star Capital Bureau, April 8 — According to reports, today, the Red Star Capital Bureau learned that the non-standard product consignment model for Maotai has been implemented, with some dealers beginning to execute it. Currently, the first batch of consigned products has been shipped gradually.

“Our store does not have any aged Maotai (15) inventory now; it’s all consignment. The price is 4,199 yuan, and the previous stock has already been sold out,” said a staff member at Chengdu Chuantang Maotai Cultural Experience Center. The staff member stated that in recent days, the store has started full consignment of non-standard Maotai, including aged Maotai (15), which is ordered through iMaotai and shipped directly from the Maotai distillery.

The staff further explained that under the consignment model, each dealer’s store functions as a pickup point for Maotai, similar to a “courier station.” Customers place orders via the iMaotai app, and the distillery delivers the corresponding liquor to the store. Customers can pick up in person or choose to have it shipped. Dealers mainly earn a 5% service fee on the total sales price, whereas the previous model required dealers to pay the distillery in advance before shipment.

Image source: Screenshot of iMaotai app

Red Star Capital Bureau found that not all Maotai dealers are implementing the consignment model. Several Maotai specialty stores in Chengdu still sell aged Maotai (15) and other non-standard products outside the iMaotai app channels. A Maotai dealer said that their store does not use the consignment model. The price for aged Maotai (15) is 4,299 yuan, but it can also be sold at the iMaotai app price of 4,199 yuan. Two years ago, the price of this product ranged from 5,000 to 6,000 yuan.

It is understood that in March, Kweichou Moutai (600519.SH) solicited cooperation intentions from dealers, implementing consignment for products such as aged Maotai (15), boutique Maotai, zodiac series (classic edition, gift box), Drumming Feitian, Feitian 53° 1000ml, Feitian 53° 200ml, and Feitian 53° 100ml. These products must be sold through the iMaotai app at retail prices within the self-operated system, with dealers earning a 5% sales commission.

On April 8, a person close to Maotai told Red Star Capital Bureau that after canceling the distribution policy earlier, Maotai is now promoting the consignment model to work with dealers in providing better consumer service while ensuring reasonable profits for dealers. After discussions and soliciting dealer opinions, the main participants in the consignment are those who signed 2026 distribution contracts, have fulfilled their 2025 orders well, and have no recent breach of contract. The first batch of consigned products has been shipped gradually, with some provinces receiving their first deliveries, and others following planned distribution.

The same source further pointed out that under the consignment model, consumers can purchase aged Maotai (15) and other products via the iMaotai app or at participating Maotai specialty stores (subject to stock availability on the day). Guided by the consignment merchants, customers scan the exclusive iMaotai QR code of the merchant, place orders, and pay online through the app. They can then complete pickup procedures on-site, with the system automatically generating a sales receipt and the company directly issuing an invoice to the consumer.

Red Star News reporters: Yu Yao, Li Haiyan

Editor: Xiao Ziqi

Reviewer: Feng Lingling