Retail price tracking data collected over the past 24 hours shows that on September 23, the average terminal selling prices of 12 major Chinese baijiu products recorded six gains, three declines, and three holds, with advancers clearly dominating and overall upward momentum significantly outpacing declines.
Among the winners, Kweichow Moutai Co.,Ltd. Feitian Moutai edged up 1 yuan to 1,806 yuan, marking a fifth consecutive daily gain and holding firmly above the 1,800 yuan threshold for four straight sessions while hitting a fresh one-month high. Wuliangye Puwu Eighth Generation rose 3 yuan to 805 yuan, fully recovering the previous day's losses. Qinghua Fen 20 climbed 5 yuan to 398 yuan, extending a three-day winning streak and approaching the 400 yuan mark. Guojiao 1573 advanced 6 yuan to 887 yuan, strengthening for a second straight day with its price center breaking above the recent trendline. Xijiu Junpin gained 4 yuan to 640 yuan, resuming its upward path after short-term consolidation. Shuijing Jiannanchun added 3 yuan to 411 yuan, surpassing the 410 yuan integer level and matching its 30-day peak.
On the downside, Premium Moutai slipped 1 yuan to 2,459 yuan, continuing a three-session pullback from elevated levels. Gujing Gong Gu20 declined 1 yuan to 522 yuan, remaining in the recent low range. Qinghua Lang fell 1 yuan to 673 yuan, posting a second straight loss as it seeks a bottom.
Among those holding steady, Moutai 1935 maintained its average terminal retail price at 685 yuan, with recent price performance staying stable. Wuliangye 1618 held at 830 yuan, entering a consolidation phase after yesterday's decline. Yanghe Dream Blue M6+ remained at 616 yuan, pausing after a prior run of gains.
The combined terminal retail value of the 12 major products rose for a fourth consecutive day, with both the number of advancing products and cumulative gains taking the lead, pushing the overall price structure higher. If one bottle of each of the 12 products were packaged and sold together today, the total price would be 10,732 yuan, up 19 yuan from yesterday and reaching a seven-day high.
The daily data is sourced from approximately 200 collection points reasonably distributed across all major regions nationwide, including but not limited to baijiu makers' designated distributors, social distributors, e-commerce platforms, and retail outlets. The raw sampling data reflects real transaction-based terminal retail prices handled at each location over the past 24 hours, aiming to provide an objective, scientific, and fully traceable dataset on the market prices of major baijiu products.
Since the official iMoutai platform began selling Feitian Moutai at 1,499 yuan per bottle on New Year's Day, with subsequent increases to 1,539 yuan on March 31 and 1,639 yuan on July 18, and Premium Moutai at 2,299 yuan per bottle starting January 9, later raised to 2,359 yuan on May 16, this new sales channel has shown a growing magnetic pull on the average terminal retail prices of both products. The daily quoted prices follow a volume-weighted calculation rule based on real transaction volumes, and verifiable prices from this channel have been incorporated into the terminal retail price calculations for these two products.
On the industry news front, recent visits to multiple baijiu sales terminals revealed that the market ahead of this year's Mid-Autumn Festival and National Day holidays is characterized by "a lackluster peak season with structural divergence." High-end baijiu prices remain relatively firm, with most terminals selling Feitian Moutai above 1,800 yuan per bottle, the average retail price of Wuliangye Puwu Eighth Generation exceeding 820 yuan per bottle, and high-proof Guojiao 1573 maintaining above 900 yuan per bottle. In contrast, sub-premium baijiu continues to face sluggish sell-through, while demand resilience is relatively stronger in the mass-market price band. Meanwhile, several distilleries have reduced inventory pressure on distributors, shifting instead to stronger assessments of real sell-through metrics such as bottle-opening rates.
Earlier, a research report from a leading brokerage maintained its view that the baijiu industry's prosperity during the "double festival" period is in a "slowing decline" phase, projecting that year-on-year sell-through declines during Mid-Autumn and National Day could further narrow to a slight decrease or even stabilize flat, with channel destocking for most brands nearing its end.
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