Data from the past 24 hours shows the average terminal retail price for major single products in the Chinese baijiu market weakened overall on May 26th. If one bottle of each major single product were packaged and sold together, the total price today would be 9,926 yuan, a decrease of 16 yuan from yesterday, marking the lowest point in nearly half a month. After a low-level recovery over the previous two days, the market has declined again, with terminal trading sentiment cooling down, while significant divergence in the performance of core products persists.
Among the 11 major single products in the baijiu market today, two rose, eight fell, and one remained flat, with the losers holding an absolute advantage. On the upside, Qinghua Lang led the gains, rising by 6 yuan per bottle, returning above the 700 yuan threshold. Wuliangye 1618 saw a slight increase of 1 yuan per bottle. On the downside, Xijiu Junpin led the declines, falling by 8 yuan per bottle, with its price quickly dropping below 630 yuan to set a new low for the month. Gujinggong Gu 20 fell by 6 yuan per bottle. Feitian Moutai decreased by 3 yuan per bottle. Yanghe Dream Blue M6+ dropped by 2 yuan per bottle, falling below the 600 yuan threshold once more. Premium Moutai, Wuliangye Pu Wu Eighth Generation, Guojiao 1573, and Crystal Jiannanchun all declined by 1 yuan per bottle, with Pu Wu Eighth Generation and Guojiao 1573 matching their lowest price records in nearly a month. The price of Qinghua Fen 20 remained unchanged from the previous period, also matching its lowest record for the month.
The daily data is sourced from approximately 200 collection points reasonably distributed across major regions nationwide, including but not limited to designated distributors, independent distributors, e-commerce platforms, and retail outlets. The original sample data consists of the actual terminal retail transaction prices processed at each point over the past 24 hours, aiming to provide objective, scientific, and fully traceable data on the market prices of well-known baijiu. With the official i-Moutai platform beginning sales of Feitian Moutai at 1,499 yuan per bottle at the start of the year (adjusted to 1,539 yuan per bottle on March 31st) and Premium Moutai at 2,299 yuan per bottle on January 9th (adjusted to 2,359 yuan per bottle on May 16th), the magnetic influence of this new channel on the average terminal retail prices of these two products is gradually becoming apparent. The daily published liquor prices follow a calculation rule weighted by actual transaction volume, and verifiable prices have been incorporated into the calculation of the terminal retail prices for these two products.
In other important news for the baijiu industry, boutique brokerage firm Chengtong Securities released a research report on Kweichow Moutai Co.,Ltd. yesterday. The report suggests the company is capitalizing on the trend to clear inventory, alleviate pressure, consolidate advantages, and proceed steadily. It also notes that Moutai is seizing the window for market-oriented transformation centered on consumers and driven by market demand, comprehensively advancing its "consumer-facing" reform. By synergistically developing its three main segments—Moutai liquor, series liquors, and internationalization—the company is effectively stabilizing its fundamental market position. Regarding profit forecasts and investment recommendations, Chengtong Securities estimates Kweichow Moutai Co.,Ltd.'s operating revenue for 2026 to 2028 will be 174 billion yuan, 180.8 billion yuan, and 188.8 billion yuan, respectively, with net profits of 83.5 billion yuan, 86.9 billion yuan, and 90.9 billion yuan. The corresponding EPS (earnings per share) are projected to be 66.68 yuan, 69.43 yuan, and 72.56 yuan, with the current stock price corresponding to P/E (price-to-earnings) ratios of 20x, 19x, and 18x, respectively. The firm maintains a "Strongly Recommended" rating.
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