On September 16, Liu Qiangdong stated at a JD.com wine tasting event that retailers have less value to the industry than brand owners, and that sellers of Moutai cannot make more money than Moutai Group itself.

Liu Qiangdong said that in 2006, when he decided to launch major home appliances online, all investors opposed the decision. "They said Amazon was so strong and powerful in the United States, yet it didn't sell major home appliances online either," he recalled.

"But I said it was possible," Liu Qiangdong continued, explaining that he discovered home appliance retailers had gross profit margins as high as 17%-18%, while home appliance suppliers and brand manufacturers, including companies like Midea, Gree, and Haier at the time, had extremely low net profits. "The home appliance industry's net profit was only a little over one percent, but retailers' net profit could reach as high as six percent."

Liu Qiangdong emphasized, "I have always maintained that retailers actually have less value to the industry than brand owners. Yet I found that in this industry, retailers were making more money than brand manufacturers. It's like if one day, sellers of Moutai liquor made more money than Kweichow Moutai Co.,Ltd. itself - that would indicate serious problems in the industry."

"In 2009, JD.com entered the home appliance market, and by 2016, after six full years, JD.com had become the nation's largest home appliance retailer," Liu Qiangdong said.