Data collected by Sina Finance's "Liquor Price Insider" over the past 24 hours shows that on September 24, the average terminal retail prices of 12 major Chinese baijiu products recorded five gains, five declines and two unchanged, with the number of winners and losers evenly matched, though the cumulative decline on the losing side slightly exceeded the gains.
On the winning side, Kweichow Moutai Co.,Ltd. (600519) Feitian rose 2 yuan to 1,810 yuan, advancing for a seventh consecutive session and holding above the 1,800 yuan mark for a sixth straight day, setting another one-month high; Premium Moutai gained 3 yuan to 2,466 yuan, extending a two-day recovery and once again approaching its highest level in a month; Xijiu Junpin added 3 yuan to 638 yuan, rebounding after the previous day's pullback; Qinghua Lang climbed 3 yuan to 680 yuan, posting a second straight gain in its low-level recovery; Crystal Jiannanchun edged up 1 yuan to 411 yuan, moving higher again in the short term and matching its highest record in nearly 30 days.
On the losing side, Moutai 1935 fell 1 yuan to 683 yuan, extending a second consecutive decline with continued mild probing lower; Wuliangye Puwu Eighth Generation dropped 1 yuan to 802 yuan, slipping for a second straight day and continuing to oscillate around the 800 yuan mark; Qinghua Fen 20 declined 4 yuan to 398 yuan, ending a four-day winning streak and falling back below the 400 yuan threshold; Yanghe Dream of Blue M6+ plunged 7 yuan to 611 yuan, with its earlier seven-session rally meeting heavy selling pressure; Gujing Gong Gu 20 lost 4 yuan to 516 yuan, weakening further in a third consecutive decline.
Among the unchanged products, Wuliangye 1618 maintained an average terminal retail price of 829 yuan, consolidating mildly for a sixth straight day; Guojiao 1573 held steady at 880 yuan, taking a breather after the previous day's sharp pullback.
The total terminal retail price of the 12 major products fell for a second consecutive day, with the overall price center shifting slightly lower but still holding above the 10,700 yuan round-number threshold. If one bottle of each of the 12 products were packaged together for sale, the total price today would be 10,724 yuan, down 5 yuan from yesterday and marking a three-day low.
Daily data for "Liquor Price Insider" comes from roughly 200 collection points reasonably distributed across major regions nationwide, including but not limited to designated distributors of liquor companies, social distributors, e-commerce platforms and retail outlets. The raw sampled data consists of actual transaction terminal retail prices handled at each point over the past 24 hours, striving to provide all sectors with objective, scientific and fully traceable data on market prices of major baijiu products.
With the official i-Moutai platform launching sales of Feitian Moutai at 1,499 yuan per bottle for New Year's Day (raised to 1,539 yuan per bottle on March 31 and further to 1,639 yuan per bottle on July 18), and Premium Moutai at 2,299 yuan per bottle on January 9 (raised to 2,359 yuan per bottle on May 16), the magnetic influence of this new channel on the average terminal retail prices of both products has gradually emerged. The daily liquor prices published by "Liquor Price Insider" follow a calculation rule weighted by actual transaction volumes, and we have incorporated quantifiable prices into the calculation of terminal retail prices for the two liquor products. [Click to enter Liquor Price Insider to view real liquor prices and search the latest and most complete database of distribution outlets for Kweichow Moutai and Wuliangye]
On important news in the baijiu industry, Orient Securities recently issued a research report maintaining its "Buy" rating and 149.53 yuan target price for Shanxi Fenjiu. The report noted that Shanxi Fenjiu's market focus in 2026 remains on stabilizing channel profitability, and it expects the company to continue offering certain support to channels in the third quarter, with relatively active expense investment; against the backdrop of the industry still undergoing deep adjustment, the company maintains flexibility in its operating pace and places a high priority on channel experience, which helps enhance channel confidence. On products and regions, Fenjiu continues to leverage its deep product structure advantages, with its home province and markets around Shanxi solidifying the foundation, while highland markets and markets south of the Yangtze River perform relatively steadily. Orient Securities also believes that after years and multiple rounds of state-owned enterprise reform, Fenjiu's market-oriented assessment mechanism has been further combined with prudent internal control mechanisms, improving corporate governance capabilities. On earnings forecasts, Orient Securities expects the company's net profit attributable to shareholders from 2026 to 2028 to be 9.6 billion yuan, 10.6 billion yuan and 12.2 billion yuan respectively, and, referencing the industry's average valuation level, assigns a 19 times price-earnings ratio for 2026 and a target price of 149.53 yuan. [Click to enter Liquor Price Insider to view real liquor prices and search the latest and most complete database of distribution outlets for Kweichow Moutai and Wuliangye]
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