Industry insider: Maotai's decrease in advance payments for goods is driving the industry's healthy development.

On the evening of August 12th, Guizhou Maotai released its semi-annual report for 2025. As of June 30th, the company's pre-received payments amounted to 5.507 billion yuan, a decrease from the 9.592 billion yuan at the beginning of the year. Chinese independent wine critic Xiao Zhuqing stated that this reflects Maotai's high priority on the stability, healthy and sustainable development of channel partners. Faced with the challenges brought by this round of adjustments, Maotai continues to optimize the payment rhythm of its channels, reduce the financial burden on partners, deepen strategic collaboration with distributors, further promote the healthy development of the liquor market, and possibly further enhance Maotai's brand value.