Kweichow Moutai announced that the company plans to repurchase shares through centralized bidding, with an amount not less than 3 billion yuan and not exceeding 6 billion yuan, funded by the company's own resources. The repurchased shares will be used for cancellation and to reduce the company's registered capital, with a repurchase price not exceeding 1,771.9 yuan per share. The repurchase period is within 12 months from the date the shareholder meeting approves the repurchase plan. As of the date when the Board of Directors reviewed and approved this repurchase plan, the company's controlling shareholder, actual controller, directors, supervisors, and senior management do not have any plans to reduce their shareholding in the company in the next 3 months or 6 months.