Guizhou Maotai spokesperson Wang Li responds to the third-quarter performance decline.

Wang Li, director and acting general manager of Guizhou Maotai, said that currently, the liquor industry is undergoing a deep adjustment, compounded by changing consumer habits, mismatched business models, and pressure on liquor companies. In the fourth quarter, maintaining channel resilience remains a focus. In terms of internationalization, in response to the phenomenon of "backflow liquor", we have strengthened market control, increased rectification efforts, and suspended supply to certain channels. However, the three-step internationalization strategy remains unchanged, with the current focus on maintaining the market's health, stability, and resilience. The company will fully respect market laws, be driven by market demand, focus on promoting the "three transformations" and "three-terminal reform" with consumers at the center, and effectively address industry uncertainty with self-certainty to ensure the long-term stability and improvement of the market and channels.