Data collected over the past 24 hours by the "Liquor Price Index" shows that the average terminal retail prices for major Chinese baijiu products experienced a significant overall decline on May 30th. If one bottle of each major product were bundled for sale, the total price today would be 9,896 yuan, a drop of 33 yuan from the previous day, marking the lowest point in the past 40 days. The market has notably declined again after a period of low-level volatility, with terminal trading sentiment cooling significantly. The divergence in price movements among core products remains pronounced. Today, only two products from the Moutai group saw gains against the trend, while all other single products fell, with five products hitting their lowest prices in the past month.
The market for 11 major baijiu products today saw two gainers and nine losers, with the losers holding an absolute advantage. On the upside, Feitian Moutai led the gains, rising by 3 yuan per bottle, showing a slight recovery after consecutive declines; Jingpin Moutai saw a modest increase of 1 yuan per bottle. On the downside, Gujing Gongjiu Gu20 fell by 8 yuan per bottle; Xijiu Junpin and Qinghualang both dropped by 6 yuan per bottle. The former hit a new monthly low, with a significant downward shift in its price center over the past month, while the latter suffered its third consecutive decline, with its price rapidly falling below the 700 yuan mark again, setting a new monthly low. Guojiao 1573 fell by 5 yuan per bottle, dropping below 890 yuan again to set a new monthly low. Wuliangye 1618, Qinghua Fen 20, and Yanghe Mengzhilan M6+ all declined by 3 yuan per bottle. Among them, 1618 recorded its largest drop since May 4th, with its price falling to the second-lowest level of the month; Qinghua Fen 20 continued to set a new monthly low; Yanghe Mengzhilan M6+ once again fell below the 600 yuan threshold. Pu Wu Ba Dai dropped by 2 yuan per bottle, setting another monthly low, with its price showing an accelerating downward trend over the past half-month. Shuijing Jiannanchun decreased by 1 yuan per bottle.
The daily data for the "Liquor Price Index" is sourced from approximately 200 collection points reasonably distributed across major regions nationwide, including but not limited to designated distributors by liquor companies, independent distributors, e-commerce platforms, and retail outlets. The raw sample data consists of the actual terminal retail transaction prices processed by each point over the past 24 hours, striving to provide objective, scientific, and fully traceable data on the market prices of renowned baijiu for all stakeholders. Following the official launch of the iMoutai platform, which began selling Feitian Moutai at 1,499 yuan per bottle (adjusted to 1,539 yuan per bottle on March 31st) and Jingpin Moutai at 2,299 yuan per bottle (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 has gradually become apparent. The daily liquor prices released by the "Liquor Price Index" follow a calculation rule weighted by actual transaction volume, and we have incorporated verifiable prices into the calculation of the terminal retail prices for these two products.
In other important news for the baijiu industry, a report titled "Moutai: Deepening Market-Oriented Reform, Staying True Amidst Change" was published this Wednesday, focusing on the progress of market-oriented reforms at Kweichow Moutai Co.,Ltd. The report notes that facing the weak cycle and stock competition pressures in the baijiu industry, Moutai has used the iMoutai platform as a core vehicle to advance reforms across product, channel, price, and operational dimensions. These efforts aim to address consumer pain points such as "difficulty purchasing authentic liquor, prevalence of counterfeit products, and rampant speculation," promoting both online and offline traffic. According to Kweichow Moutai Co.,Ltd.'s disclosed Q1 2026 report, the iMoutai platform added nearly 14 million new users in a single quarter, with nearly 4 million consumers successfully purchasing liquor, generating sales revenue of 21.553 billion yuan, a year-on-year increase of 267.16%. The company's total operating revenue for the first quarter reached 54.703 billion yuan, up 6.34% year-on-year, with operating income at 53.909 billion yuan, an increase of 6.54%. The report cites industry views stating that Moutai's consumer-centric approach to market-oriented transformation, while optimizing the consumer experience and improving channel efficiency, also provides a reference sample for the baijiu industry to explore high-quality development paths during its adjustment period.
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