Special topic: Zhang Deqin is recommended as chairman of Guizhou Moutai
Financial Associated Press, April 29 (Reporter Zhu Wanping) the change of coach in Maotai was finally settled. Tonight, Guizhou Moutai (600519)60spincoinmasterAccording to the relevant documents of the people's Government of Guizhou Province, Zhang Deqin is recommended as the candidate for chairman of the company, and Ding Xiongjun is no longer the chairman and director of the company.
Before taking over Maotai, Zhang Deqin was the chairman of Guizhou Xijiu. Earlier, he worked in Maotai Group for more than 10 years. He can be called an old Maotai native who was born and raised in Maotai. He once served as a party committee member and deputy general manager of Maotai Group.
(photo: photo by Zhu Wanping, reporter of Guizhou Moutai headquarters Building Finance Union)
According to public data, Zhang Deqin graduated from Guizhou University majoring in fermentation engineering and belongs to a professional background. Since 1995, Zhang Deqin, who has just graduated, started from the most basic production and brewing, practiced at the grass-roots level of Maotai Distillery for more than a decade, and later served as the chairman of Xijiu (formerly part of Maotai Group). In June 2019, Zhang Deqin was transferred from Maotai Group and briefly joined Guizhou Modern Logistics Industry Group. In July 2022, after Xi Jiu became "independent" from Maotai Group, he "returned to the furnace" and became chairman of Xi Jiu.
Zhang Deqin is a cadre who has grown up from the grass-roots level of Maotai and is quite familiar with the history and logic of Maotai's development. He dares to act and dare to tell the truth. Now, when he returns to the key post of Maotai leader, it can be said that he is widely expected. " Xiao Zhuqing, an independent commentator of China's wine industry, told the Financial Associated Press.
"60spincoinmasterI personally think that Zhang Deqin is a doer and is more pragmatic. He is more modest and has a lower attitude. " A liquor dealer who has been in close contact with Zhang Deqin told the Financial Associated Press.
Zhang Deqin's pragmatic personality is also reflected in his work in drinking. For example, Xijiu has recently suspended the supply of products from many dealers in the second quarter, because the inventory rate of these dealers is higher than the red line, and there are more code scans in different places (suspected of "serial stock"). Although market analysts believe that Xi Jiu's move is intended to control the price of goods in the off-season, it has also been affirmed by some industry observers. They believe that in the current background of weak consumption and high channel inventory, Xi Jiu is willing to sacrifice short-term sales and maintain the normal order of the price and the market, which is logical and pragmatic.
As the new leader, whether Zhang Deqin will bring great changes to Maotai's existing strategy. In this regard, the above-mentioned wine dealers believe that there may be fine-tuning, but the big strategy will not change. "he (Zhang Deqin) is not a person who likes to be original. At the beginning, when he went to Xi Jiu as chairman, he only changed the slogan of the original promotion. "
According to convention, in addition to serving as chairman of Moutai Group, Zhang Deqin will also take over as chairman of Guizhou Moutai, a $2 trillion A-share "stock king". What is its attitude towards the capital market, especially the minority shareholders in Guizhou Moutai? It also attracted a lot of attention from the outside world.
Judging from Zhang Deqin's past remarks, he still attaches great importance to Maotai shareholders. In a speech in 2018, Zhang Deqin said, "first of all, Maotai belongs to the country and contributes to the country, followed by shareholders, dealers and Maotai employees." I hope to improve gradually in the future, and everyone will really work hard for the enterprise and the brand. "
However, Zhang Deqin also faces a lot of challenges after becoming chairman of Maotai. The first thing to do is performance pressure. In the past few years, his predecessor Ding Xiongjun increased the overall revenue of Guizhou Moutai from 109.464 billion yuan in 2021 to 150.56 billion yuan in 2023 by means of expanding the proportion of direct sales, launching various new products and raising prices, with a compound annual growth rate of more than 17%. In the same period, the net profit of returning to the mother increased from 52.46 billion yuan to 74.734 billion yuan, with a compound annual growth rate of more than 19%. Under the background of weak consumption and declining industry, how should Zhang Deqin continue this high performance growth rate?
"another problem facing Zhang Deqin is that at present, the proportion of direct sales in Maotai is close to 50%. Further increasing the proportion of direct sales may cause Maotai's traditional channel partners to boycott or change their doors with high net worth private domain flow resources. and this may affect the foundation of Maotai channel." Xiao Zhuqing believes that in addition, Maotai 1935, which locates a thousand yuan price belt, competes directly with Wuliangye and Guojiao 1573, and is also faced with the question of quantity or price.
"on the whole, Zhang Deqin, chairman of Maotai, needs to take into account the demands of local governments, investors, dealers and employees at the same time, and Zhang Deqin may be suitable among candidates who can take into account the needs of all parties." Xiao Zhuqing said.