iPhones

"Moutai wine uses only three ingredients: sorghum, wheat, and water. So why has wine brewed from these ingredients become a legend in contemporary product history? This question has three keywords. Complex and rich: Without Moutai, the world would lack a flavor known as “sauce aroma.” From the birth of the first bottle to its finalized form, it took 147 years, a result of continuous relay by several generations. This was not an inevitable process but one filled with all the twists and drama of product creation. Super single product: Moutai is in the first tier of Chinese baijiu, and its single product’s annual revenue exceeds 100 billion yuan. Globally, there are three similar “super single products”: Coca-Cola, Pepsi, and iPhones, but Moutai is very different in product characteristics. Highest market value: This is a company with a product gross margin of 93%, whose market value surpasses all factories, banks, and energy companies in China, making it a maverick in the capital market. Even today, some see it as a “disgrace,” while others consider it a glory."