Liquor Price Insider February 2nd Price Release: Feitian Moutai Drops by 15 Yuan

Sina Finance's "Liquor Price Insider" has officially launched, providing comprehensive access to the real market prices of renowned baijiu brands. Data collected by Sina Finance's "Liquor Price Insider" over the past 24 hours indicates that on February 2nd, the average terminal retail prices of the top ten single baijiu products in the Chinese market showed a divergent trend, although the overall price level continued to rise. If one bottle of each of the top ten products were bundled for sale today, the total price would be 9,020 yuan, an increase of 9 yuan from the previous day, reaching the highest level since January 8th. Among the top ten market单品 today, seven saw price increases while three experienced declines. Among the rising products, Gujiao 1573, Fenjiu Blue and White 20, and Gujing Gongjiu Gu 20 each increased by 10 yuan per bottle compared to the previous day, driven by channel restocking and an upward shift in the成交重心 leading to significant price hikes; Wuliangye普五八代 also rebounded, rising by 8 yuan per bottle, as the批零价差 underwent阶段性修复; Yanghe Dream Blue M6+ increased by 6 yuan per bottle compared to the previous day, supported by regional inventory reduction leading to报价上调;精品茅台 rose by 2 yuan per bottle, with high-end gifting demand continuing to drive微调 in成交价, marking four consecutive days of gains for this product with a cumulative increase exceeding 60 yuan;水晶剑南春 saw a slight increase of 1 yuan per bottle. On the downside, Xijiu Junpin fell by 17 yuan per bottle, leading the declines, with its average price of 625 yuan per bottle hitting a new 30-day low; Feitian Moutai dropped by 15 yuan per bottle, while青花郎 declined by 6 yuan per bottle. The daily data for "Liquor Price Insider" is sourced from approximately 200 collection points reasonably distributed across major regions nationwide, including but not limited to designated distributors of酒企, social distributors, e-commerce platforms, and retail outlets. The raw sampling data consists of the real成交终端 retail prices transacted at each point over the past 24 hours, striving to provide the public with objective, authentic, scientific, and fully traceable data regarding the market prices of famous baijiu. With the official i Moutai platform beginning sales of Feitian Moutai at 1,499 yuan per bottle around New Year's Day and精品茅台 at 2,299 yuan per bottle starting January 9th, the磁吸式 influence of this new channel on the market终端 retail average prices of these two products has gradually become apparent. The daily liquor prices published by "Liquor Price Insider" follow a calculation rule weighted by real transaction volume; we have incorporated the quantifiable prices from this platform into the calculation of the terminal retail prices for Feitian Moutai and精品茅台. In important news for the baijiu industry, Changjiang Securities released an in-depth research report on February 1st, pointing out that the series of adjustments made by Kweichow Moutai Co.,Ltd. at the beginning of 2026 regarding products and channels are key measures for its adaptation to market-oriented transformation, which will solidify the foundation for the company's long-term healthy growth; it indicated that Kweichow Moutai Co.,Ltd.'s diversified channel layout has already taken shape with the self-operated proportion continuously increasing. Promoting the listing of普通飞天茅台 on the official digital platform at this time aligns with the market price environment and can resolve the supply-demand mismatch issues caused by previous non-marketized sales. In the future, online and offline channels will perform their respective duties, building a consumer-centric integrated ecosystem, thereby expanding the consumer base and helping Kweichow Moutai Co.,Ltd. navigate industry cycle fluctuations; the institution also stated that, from a historical perspective, Kweichow Moutai Co.,Ltd.'s volume and price strategies have been remarkably effective in the past, capable of stabilizing the fundamental business during industry adjustment periods and seizing opportunities in the next cycle. The release of普通飞天茅台 on the official digital platform does not increase the total supply; through a dynamic投放 model for precise control, the impact on market prices is relatively limited; regarding profit forecasts and valuation, Changjiang Securities estimates Kweichow Moutai Co.,Ltd.'s earnings per share for 2025/2026 to be 72.88 yuan and 74.25 yuan respectively, corresponding to a latest price-to-earnings ratio of 19.2 times and 18.9 times, maintaining a "Buy" rating.