Data collected over the past 24 hours for the "Liquor Price Reference" shows the average terminal retail price for major Chinese baijiu products experienced a slight overall decline on June 13. If one bottle of each major product were combined for sale, the total price today would be 9,898 yuan, a minor decrease of 3 yuan from yesterday, falling back below the 9,900 yuan threshold it had reclaimed the previous day. The market's short-term recovery momentum remains insufficient, with cautious sentiment prevailing in terminal trading, and significant price divergence among core products continues.
Among the 11 major baijiu products today, five rose, four fell, and two remained flat, giving a slight numerical advantage to gainers. However, the declining products saw larger drops. On the upside, Wuliangye Pu Wu Eighth Generation and Qinghua Lang led the gains, each rising by 4 yuan per bottle. Wuliangye Pu Wu Eighth Generation rebounded from the low point hit yesterday, its lowest since February 2nd, climbing back above the 800 yuan mark, though the downward trend in its one-month price average remains evident. Qinghua Lang posted gains for a second consecutive day, continuing its recovery towards the 700 yuan level. Premium Moutai and Crystal Jiannanchun each rose by 2 yuan per bottle, with the former ending a four-day losing streak. Yanghe Dream Blue M6+ saw a modest increase of 1 yuan per bottle, though its price remains confined to the lower range of this month. On the downside, Guojiao 1573 led the declines, falling by 6 yuan per bottle for a second consecutive day and dropping back below the 880 yuan level. Gujing Gongjiu Gu 20 fell by 5 yuan per bottle, ending a three-day rising streak, though its price remains at a relatively high level for June so far. Feitian Moutai declined by 4 yuan per bottle, marking its third consecutive day of losses. Xijiu Junpin saw a slight decrease of 1 yuan per bottle. Wuliangye 1618 and Qinghua Fen 20 prices remained unchanged from the previous day, with the latter still trading within this month's lower price range.
The daily data for the "Liquor Price Reference" is sourced from approximately 200 collection points reasonably distributed across major regions nationwide, including but not limited to designated distributors, independent dealers, e-commerce platforms, and retail outlets. The raw sample data consists of 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 products for all stakeholders. Following the official launch of Feitian Moutai at 1,499 yuan per bottle on the iMoutai platform at the start of the year (increased to 1,539 yuan on March 31) and Premium Moutai at 2,299 yuan per bottle (increased to 2,359 yuan on May 16) on January 9, the gravitational influence of this new channel on the average terminal retail prices of these two products has gradually become apparent. The daily liquor prices published in the "Liquor Price Reference" adhere to a calculation rule weighted by actual transaction volume, and we have incorporated the verifiable prices from this platform into the calculation of the terminal retail prices for these two products.
In significant baijiu industry news, the global investment bank Goldman Sachs maintained its "Buy" rating on Kweichow Moutai Co.,Ltd. in its latest research report yesterday and raised its target price to 1,616 yuan, representing approximately 26% upside from the current share price of around 1,279 yuan. Goldman Sachs noted that during Kweichow Moutai Co.,Ltd.'s shareholder meeting, management positioned 2026 as the inaugural year for the company's market-oriented reforms, emphasizing that this transformation extends beyond sales to cover the entire industry chain. Channel distributors remain key participants in the ecosystem, but future growth will increasingly rely on customer service capabilities, with the direct sales channel playing a stabilizing role. Goldman Sachs inferred from this that Moutai is prioritizing sustainable demand and channel profitability over short-term shipment growth, shifting focus from pure volume expansion to emphasizing brand value and channel health. Furthermore, management disclosed that as of the end of May 2026, the iMoutai platform had accumulated 96.2 million registered users, with 16.7 million new users added this year, and monthly active users reached 9.6 million. Goldman Sachs estimates that Feitian Moutai sales on the iMoutai platform alone reached 28.8 billion yuan in the first five months, involving over 7 million transacting users. This is equivalent to 32% of the platform's full-year 2025 sales and 17% of the company's total sales for the first half of 2025. The report suggests iMoutai has become a crucial tool for Moutai to acquire direct customers and gather market demand data.
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