Data collected by Sina Finance's "Baijiu Price Insider" over the past 24 hours shows that on November 6, the average terminal retail prices of all 12 major products in China's baijiu industry declined, with overall pricing pressure surging and once again hitting a two-month low.
Feitian Moutai fell 3 yuan to 1,781 yuan, resuming a mild decline after yesterday's small gain and probing near 1,780 yuan; Jingpin Moutai dropped 1 yuan to 2,438 yuan, marking five consecutive days of decline and a new 30-day low; Moutai 1935 fell 1 yuan to 685 yuan, continuing its recent pattern of small fluctuations; Wuliangye Puwu No.8 declined 5 yuan to 775 yuan, with four consecutive down days totaling a 22-yuan drop and setting a new 30-day low; Wuliangye 1618 fell 1 yuan to 822 yuan, matching a near one-month low after two consecutive declines; Qinghua Fen 20 dropped 3 yuan to 382 yuan, also reaching a 30-day low; Guojiao 1573 plunged 6 yuan to 871 yuan, with three consecutive down days hitting a monthly low; Yanghe Mengzhilan M6+ fell 3 yuan to 587 yuan, with six consecutive down days reflecting heavy selling pressure and setting a new near one-month low; Gujinggong Gu20 tumbled 8 yuan to 512 yuan, quickly ending yesterday's strong rebound and becoming the biggest decliner of the day while also hitting a monthly low; Xijiu Junpin fell 5 yuan to 620 yuan, with three consecutive down days reaching a 30-day trough; Qinghualang plunged 6 yuan to 665 yuan, matching a one-month low; Shuijing Jiannanchun declined 2 yuan to 403 yuan, with recent price volatility probing the bottom and also setting a near 30-day low.
Today, the total terminal retail price of the 12 major products continued to decline, with 11 products flat or hitting a one-month low. Among them, Gujinggong Gu20 fell 8 yuan, Guojiao 1573 dropped 6 yuan, and Qinghualang declined 6 yuan, becoming the main drags on the overall pricing.
If one bottle of each of the 12 major products were packaged together for sale, today's total price would be 10,541 yuan, a sharp drop of 44 yuan from yesterday and continuing to set a new low since mid-September this year.
Daily data for "Baijiu Price Insider" comes from approximately 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 the actual terminal retail prices of real transactions handled at each point over the past 24 hours, striving to provide an objective, scientific, and fully traceable dataset on the market prices of major baijiu products for all parties.
With the official iMoutai platform launching sales of Feitian Moutai at 1,499 yuan per bottle this 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 sales of Jingpin Moutai at 2,299 yuan per bottle starting 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 baijiu prices published by "Baijiu Price Insider" follow a calculation rule weighted by actual transaction volumes. We have incorporated quantifiable prices into the calculation of terminal retail prices for both liquor products. [Click to enter Baijiu Price Insider to view real liquor prices and search the latest and most complete database of distribution outlets for Kweichow Moutai and Wuliangye.]
In important news for the baijiu industry, Kaiyuan Securities released a research report on Shanxi Fenjiu on November 5 titled "Shanxi Fenjiu (600809): Adjustment Nearing Its End, Actual Sales Momentum Solid." The report noted that in the first three quarters, Shanxi Fenjiu achieved operating revenue of 28.382 billion yuan, down 13.80% year-on-year, and net profit attributable to shareholders of 8.338 billion yuan, down 26.89% year-on-year. In the third quarter, the company achieved operating revenue of 7.338 billion yuan, down 18.11% year-on-year, and net profit attributable to shareholders of 1.899 billion yuan, down 34.52% year-on-year. As the company continues to push channel destocking, Kaiyuan decided to lower its earnings forecasts for Shanxi Fenjiu, expecting net profit attributable to shareholders for 2026-2028 to be 9.256 billion yuan (-0.023 billion), 9.909 billion yuan (-0.427 billion), and 10.649 billion yuan (-0.445 billion), respectively, representing year-on-year changes of -24.4%, +7.1%, and +7.5%. Earnings per share are projected at 7.59 yuan (-0.02), 8.12 yuan (-0.35), and 8.73 yuan (-0.36), respectively, with the current share price corresponding to price-to-earnings ratios of 17.0x, 15.9x, and 14.8x. Kaiyuan concluded that Shanxi Fenjiu has a well-structured product portfolio, solid channel cultivation, and both development resilience and flexibility. The current proactive destocking and pace adjustment will benefit its long-term development, and it decided to maintain a "Buy" rating. [Click to enter Baijiu 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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