Data collected over the past 24 hours shows that the average terminal retail prices for major Chinese baijiu products continued to decline overall on July 15th. If one bottle of each major product were packaged and sold together, the total price today would be 9,812 yuan, a significant drop of 27 yuan from yesterday. This marks the fourth consecutive day of decline and sets a new low since March 22nd of this year. Among the products tracked, only Qinghua Fen 20, Gujing Gong Wine Gu 20, and Xijiu Junpin saw price increases today. The remaining eight products all experienced price declines. Both Wuliangye 1618 and Yanghe's Dream Blue M6+ hit their lowest prices in nearly a month, while Qinghualang matched its lowest price from the past month. The broader market shows multiple core products simultaneously testing lower price levels, further indicating weak market characteristics. Terminal trading sentiment has cooled compared to the previous period, and the overall price trend of lower volatility and decline has intensified.
Of the 11 major baijiu products tracked today, three rose and eight fell, with the losers clearly outnumbering the gainers both in quantity and magnitude of decline. On the upside, Qinghua Fen 20 led the gains, rising by 5 yuan per bottle, ending a two-day losing streak and recovering from a half-month low. Xijiu Junpin increased by 3 yuan per bottle, marking a second consecutive day of recovery from a monthly low and quickly rebounding past the 630 yuan threshold. Gujing Gong Wine Gu 20 saw a modest increase of 2 yuan per bottle, halting a three-day decline, though its price has shown significant volatility over the past month.
On the downside, Qinghua Fen 20 led the losses, falling by 8 yuan per bottle, recording its largest single-day drop in nearly a month. It once again fell below the 690 yuan mark, matching its lowest price record for the month. Wuliangye Yibin Co.,Ltd.'s Eighth-Generation Standard Product, Guojiao 1573, and Yanghe's Dream Blue M6+ each fell by 6 yuan per bottle. Among them, the Eighth-Generation Standard Product dropped back below 790 yuan, falling to its second-lowest level in nearly a month. Guojiao 1573 recorded its largest daily decline within the month for two consecutive days, with its price retreating rapidly from the monthly high. Yanghe's Dream Blue M6+ broke below its previous low, hitting its lowest price in nearly a month. Premium Moutai fell by 4 yuan per bottle, retreating to its second-lowest level this month, with its price center gradually shifting lower over the past month. Feitian Moutai and Wuliangye 1618 both declined by 3 yuan per bottle. The former hit a new low since March 30th of this year, further narrowing its premium over the official iMoutai platform price. The latter reached its lowest price in nearly a month. Crystal Jiannanchun saw a slight decrease of 1 yuan per bottle, marking its third consecutive day of decline and falling to its second-lowest level in nearly a month.
Daily pricing data is sourced from approximately 200 collection points reasonably distributed across major regions in China. These points include, but are not limited to, designated distributors by liquor companies, independent distributors, e-commerce platforms, and retail outlets. The raw sample data consists of actual transaction prices for terminal retail sales handled by these points over the past 24 hours. This methodology aims to provide objective, scientific, and fully traceable data on the market prices of well-known baijiu products for various stakeholders. Following the official iMoutai platform's launch of Feitian Moutai at 1,499 yuan per bottle at the start of the year (adjusted to 1,539 yuan on March 31) and Premium Moutai at 2,299 yuan per bottle on January 9th (adjusted to 2,359 yuan on May 16), the gravitational influence of this new sales channel on the terminal retail prices of these two products has gradually become apparent. The daily published 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.
Key Developments in the Baijiu Sector
This week marks the beginning of the distribution of 2025 annual dividends for several leading baijiu companies. From July 15th to 20th, Wuliangye Yibin Co.,Ltd. and Gujing Gong Wine will distribute cash dividends totaling approximately 118.04 billion yuan. Specifically, Wuliangye will pay a dividend of 25.7969 yuan per 10 shares (tax inclusive), totaling about 100.07 billion yuan, with the equity record date set for July 15th. Gujing Gong Wine will pay a dividend of 34 yuan per 10 shares, totaling 17.97 billion yuan, with the equity record date set for July 16th. Companies including Kweichow Moutai, Yanghe, Jinshiyuan, Kouzijiao, Yingjiagong Wine, and Shede Wine have already implemented their 2025 annual dividends, distributing a combined total exceeding 460 billion yuan. Kweichow Moutai distributed approximately 350 billion yuan in June. Companies yet to distribute dividends, including Shanxi Fenjiu, Luzhou Laojiao, Shuijingfang, and Jiuguijiu, plan to distribute a combined total of about 147 billion yuan. Among them, Shanxi Fenjiu plans to distribute 80 billion yuan, and Luzhou Laojiao plans to distribute 65 billion yuan (having already distributed an interim dividend of 20 billion yuan).
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