Terminal retail price data collected over the past 24 hours shows that among the 12 major liquor products in China's baijiu sector on September 21, eight rose, three fell, and one stayed flat, with advancers dominating both in number and average gains.
On the winning side, Feitian Moutai climbed 2 yuan to 1,803 yuan, marking a third consecutive gain and setting a fresh one-month high while holding above the 1,800-yuan threshold for a second straight day. Wuliangye Pu Wu Eighth Generation rose 4 yuan to 805 yuan, extending its rebound to two sessions and solidifying the 800-yuan mark. Wuliangye 1618 inched up 1 yuan to 831 yuan, staying within its recent high range. Qinghua Fen 20 advanced 5 yuan to 388 yuan, snapping a five-day losing streak and rebounding notably from recent lows. Yanghe Dream Blue M6+ added 1 yuan to 614 yuan, edging higher after a period of consolidation. Gujing Gong Gu 20 surged 7 yuan to 520 yuan, ending four consecutive down sessions and reclaiming the 520-yuan round level. Xijiu Junpin jumped 5 yuan to 639 yuan following a flat prior session, while Shuijing Jiannanchun rose 3 yuan to 410 yuan, touching the 410-yuan round figure on a second straight gain.
On the downside, Premium Moutai slipped 4 yuan to 2,463 yuan, undergoing a technical pullback after three straight advances. Moutai 1935 eased 2 yuan to 683 yuan, giving back a small portion of the prior day's sharp rebound. Guojiao 1573 fell 6 yuan to 876 yuan, retreating again after an earlier upswing.
In flat territory, Qinghua Lang held steady at 677 yuan, pausing for consolidation following the previous session's rebound. The combined terminal retail price of all 12 products rose for a second consecutive day, with advancing products clearly outnumbering decliners and aggregate gains far exceeding losses, pointing to a firmer overall price structure and improving market sentiment.
If one bottle of each of the 12 products were packaged and sold together, the total would come to 10,709 yuan, up 16 yuan from the prior day and above the 10,700-yuan round level, marking a four-day high. Daily data is sourced from roughly 200 collection points distributed across major regions nationwide, including designated distributors, social distributors, e-commerce platforms, and retail outlets, with raw samples reflecting actual terminal retail transaction prices over the past 24 hours.
Meanwhile, the official iMoutai platform began selling Feitian Moutai at 1,499 yuan per bottle on New Year's Day, later raised to 1,539 yuan on March 31 and then 1,639 yuan on July 18. Premium Moutai launched at 2,299 yuan per bottle on January 9, subsequently raised to 2,359 yuan on May 16. This new sales channel is increasingly exerting a magnetic influence on terminal retail average prices for both products. The published prices follow a volume-weighted calculation rule, incorporating verifiable pricing data from these official channels into the retail price assessments for both items.
On the industry front, a recent weekly research report from a brokerage's consumer staples team maintains that the baijiu sector's prosperity is in a "decelerating downturn" phase, projecting that year-on-year sales declines during the Mid-Autumn Festival and National Day periods will likely narrow further, with some scenarios approaching flat growth. For allocation, the report recommends medium-to-long-term focus on liquor makers with differentiated competitive advantages, highlighting Kweichow Moutai and Wuliangye for their strong brand power and deep moats, along with Jinhui Liquor, Jinshiyuan, and Yingjia Liquor benefiting from resilient mass-market demand and regional consumption upgrades. It also flags Gujing Gongjiu, Shanxi Xinghuacun Fen Wine, and Luzhou Laojiao as names with pro-cyclical upside, plus companies with new products, channels, or business models as potential catalysts.
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