Gelonghui May 10 | Luzhou Laojiao held the 2023 annual results briefing. At the meeting, some investors asked, why did the company's number one dealer account for such a large share? In response, Chairman Liu Miao replied that the company establishes cooperative relationships with first-level dealers according to product line regions. The company directly supplies to first-level dealers, and then the first-level dealers sell to downstream customers and terminal outlets. The distribution contract is signed once a year to fulfill rights and obligations in accordance with the sales business terms agreed upon by the two parties.