Moutai has been active at the beginning of 2026, with the current reform focusing on ex-factory prices. Recent market information indicates that Moutai is planning to reduce the ex-factory prices for several of its core products. Among them, the contract price for Aged Kweichow Moutai (15) is expected to drop significantly from 5,399 yuan per bottle in 2025 to 3,409 yuan per bottle in 2026. The ex-factory price for Premium Moutai has been adjusted from 2,969 yuan per bottle to 1,859 yuan per bottle. The ex-factory price for 43% vol. Kweichow Moutai is set at 739 yuan per bottle (compared to the 2025 planned price of 798 yuan and the non-planned price of 989 yuan). Furthermore, the ex-factory price for the core series product "Moutai 1935" has also been reduced from 798 yuan per bottle to 668 yuan per bottle.
Previously, Moutai has repeatedly emphasized "pricing according to market conditions" and deepening market-oriented reforms; prices for related products on its official digital marketing platform "i Moutai" had already seen decreases. Currently, "i Moutai" shows the retail price for Premium Moutai at 2,299 yuan per bottle, 43% vol. Kweichow Moutai at 829 yuan per bottle, and Moutai 1935 at 738 yuan per bottle. These specific products are the key categories that previously suffered from channel price inversion and placed significant profit pressure on distributors.
Traditionally, non-standard products like Aged, Zhenpin, and Premium were primarily sold through a distribution channel, where provincial sales companies distributed them to agents at 90% of the suggested retail price. However, at a recent distributor conference, Moutai Chairman Chen Hua announced the cancellation of the distribution model, encouraging capable distributors to order related products directly. In the 2026 product system, aside from the recently market-focused 53% vol. Feitian, Premium Moutai and Aged Moutai are also core major products, forming the "waist" and "pinnacle" of the product pyramid, respectively.
This adjustment aims not only to alleviate pressure on the channels but may also be intended to incentivize capable distributors to increase promotional efforts for high-value products. The ex-factory price is a core variable affecting Moutai's revenue and distributor profits. Moutai's last adjustment to ex-factory prices was in 2023, when it raised the prices for 53% vol. Feitian and Five-Star Moutai by an average of about 20%, seen as a key move to seek growth.
Following this price reduction adjustment, the market is watching closely to see if Moutai can balance its performance through methods like increasing volume via its direct sales channels. On January 9th, the 2026 National Moutai Distributor Association Fellowship Meeting was held, attended and addressed by Chen Hua, Party Committee Secretary and Chairman of Moutai Group. Addressing concerns about channel reform, Chen Hua stated that the fundamental purpose of i Moutai is to resolve issues of reach and efficiency, and to understand the true boundaries of consumption. Under the three principles of preventing speculation, matching supply and demand, and maintaining market stability, i Moutai dynamically allocates products, allowing them to reach consumers directly, which helps establish a healthy channel ecosystem.
Data shows that by the 9th day after the 53% vol. 500ml Kweichow Moutai was listed on the platform, i Moutai had gained over 2.7 million new users, with over 400,000 transaction users. Even under the conservative estimate of each person purchasing only one bottle, the related revenue had already exceeded 600 million yuan.
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