Wuliangye 1618 ended its four-day consecutive rally and gave back all of yesterday's gains, falling back to the 820 yuan mark.
Data collected by Sina Finance's "Liquor Price Insider" over the past 24 hours shows that the average terminal retail price of major single products in China's baijiu market weakened again on July 24. If one bottle of each major single product were bundled and sold together, the total selling price today would be 9,877 yuan, down 20 yuan from yesterday. After a brief one-day rebound, it resumed its decline, falling significantly from the 17-day high set yesterday and hitting its lowest point in four days. However, it is still 72 yuan higher than the stage low on July 18. Across the board, terminal trading sentiment in the liquor market cooled compared to the previous day, with the early-stage low-price recovery encountering a notable pullback.
Among the 11 major baijiu single products today, four rose and seven fell, with losers clearly dominating. On the upside, Yanghe Blue Dream M6+ posted the largest gain, rising 7 yuan per bottle for a second consecutive day, further consolidating above the 590 yuan mark and approaching the 600 yuan threshold. Xijiu Junpin rose 3 yuan per bottle, ending a two-day losing streak and climbing back above the 630 yuan level. Guojiao 1573 and Qinghualang both edged up 1 yuan per bottle, with the former making a slight rebound from yesterday's near-one-month low, while the latter continued to rise for a second consecutive day, setting a new near-one-month high. On the downside, Wuliangye Puwu 8th Generation led the declines, dropping 8 yuan per bottle, falling for a third consecutive day and accumulating a total decline of 18 yuan per bottle, bringing the price down to 776 yuan per bottle, matching the lowest price record since the "Liquor Price Insider" began tracking data in November last year. Gujing Gongjiu Gu 20 fell 7 yuan per bottle, continuing to hit its lowest since July. Premium Maotai dropped 6 yuan per bottle, ending a four-day winning streak and falling back to the 2,400 yuan mark. Wuliangye 1618 and Qinghua Fen 20 both fell 4 yuan per bottle. The former saw its four-day rally come to an end, giving back all of yesterday's gains and falling back to the 820 yuan mark, while the latter ended a two-day flat streak, dropping back below the 370 yuan mark and tying its near-half-month low record. Feitian Maotai fell 2 yuan per bottle, with the national average retail price continuing its modest pullback from the stage high set after three consecutive days of price hikes. Shuijingfang Jiannanchun slipped 1 yuan per bottle, ending two consecutive days of flat trading.
The daily data from the "Liquor Price Insider" is sourced from approximately 200 collection points reasonably distributed across all major regions in the country, including but not limited to designated dealers of liquor enterprises, social dealers, e-commerce platforms, and retail outlets. The raw sample data consists of actual transaction terminal retail prices at each point over the past 24 hours, aiming to provide the public with objective, scientific, and fully traceable data on the market prices of major baijiu single products. With the official iMaotai platform beginning to sell Feitian Maotai at 1,499 yuan per bottle on New Year's Day (raised to 1,539 yuan on March 31, and again to 1,639 yuan on July 18), and starting sales of Premium Maotai at 2,299 yuan per bottle on January 9 (raised to 2,359 yuan on May 16), the magnetic influence of this new channel on the average terminal retail prices of both products is gradually becoming apparent. The daily liquor prices published by the "Liquor Price Insider" follow a calculation rule weighted by actual transaction volume, and we have incorporated the quantifiable prices from this channel into the calculation of the terminal retail prices for the two products.
In other major baijiu industry news, Huaxi Securities released a research report yesterday stating that Kweichow Moutai Co., Ltd. has smooth demand and sales dynamics, implementing the year's second core single-product price adjustment in a "price before volume" manner. This price increase mainly targets 53% Feitian Maotai, with both the contract price and retail price raised by 100 yuan per bottle, representing increases of approximately 7.88% and 6.50%, respectively. Compared with the last price adjustment, the retail price increase rate has expanded this time, while the contract price increase rate remains unchanged. In addition to Feitian Maotai, Kweichow Moutai has also restructured the market pricing system for non-standard Maotai liquor this year. Huaxi pointed out that multiple rounds of small-magnitude price increases indicate that Kweichow Moutai already possesses a high degree of autonomous pricing power, and future channel profit margins may become more reasonable. Following the price increase, the market price of Feitian Maotai immediately rose, and the price gap between self-operated retail prices and market prices, as well as between different channels, further narrowed. This helps balance channel development and reduces issues like cargo diversion and cross-regional selling caused by price differences. Based on the boost to performance from this price increase, as well as the strong market sales and demand for Moutai liquor, Huaxi has slightly raised its earnings forecast for Kweichow Moutai and maintains a "Buy" rating.
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