Data collected over the past 24 hours indicates that the average retail prices of ten major Chinese liquor products showed a mixed performance on February 18. If one bottle of each of the ten products were bundled together, the total price would be 9,226 yuan, an increase of 5 yuan from the previous day. While the rise is modest, the overall price still reached a new high since the beginning of 2026. The market is undergoing a mild recovery amid differentiation, with the price center shifting slightly upward.
The market displayed a divergent pattern with six products rising and four declining. Among the gainers, Premium Moutai and Gujing Gong Jiu Gu 20 led the increase, both rising by 5 yuan per bottle. Premium Moutai returned above the 2,400 yuan mark, while Gujing Gong Jiu Gu 20 hit a recent rebound high. The price of Guojiao 1573 increased by 4 yuan per bottle, Yanghe Dream Blue M6+ rose by 1 yuan per bottle, Xijiu Junpin edged up by 1 yuan per bottle, and Qinghua Lang also saw a slight increase of 1 yuan per bottle. Among the decliners, Qinghua Fen 20 fell by 4 yuan per bottle, Wuliangye普五八代 and Feitian Moutai dropped by 3 yuan per bottle each, and Crystal Jiannanchun decreased by 2 yuan per bottle. The market is experiencing rotational movements between gains and losses, with significant structural characteristics, as products that saw larger increases earlier are now entering a phase of mild consolidation.
The daily data is sourced from approximately 200 collection points distributed across major regions nationwide, including but not limited to designated distributors of liquor companies, independent distributors, e-commerce platforms, and retail outlets. The raw sampling data reflects actual transaction-based retail prices from the past 24 hours, aiming to provide objective, authentic, scientific, and fully traceable data on the market prices of well-known liquors. Since the official iMoutai platform began selling Feitian Moutai at 1,499 yuan per bottle during the New Year and Premium Moutai at 2,299 yuan per bottle starting January 9, the influence of this new channel on the average retail prices of these two products has gradually become apparent. The daily liquor prices follow a calculation rule weighted by actual transaction volumes, and measurable prices have been gradually incorporated into the pricing of Feitian Moutai and Premium Moutai.
In terms of market analysis for the liquor industry, relevant industry reports indicate that the 2026 Spring Festival consumption significantly boosted prices in the high-end liquor market. However, this was essentially a short-term effect driven by the interplay of supply contraction and seasonal demand, rather than resolving the underlying contradiction of "declining volume but rising prices" in the industry. The market is currently transitioning from a phase of "bubble expansion" to a "rational contraction" cycle. The frequent sharp increases in Moutai's wholesale prices reflect an acceleration of industry differentiation and a restructuring of price logic. Looking ahead, the sustainability of the price recovery stimulated by the Spring Festival will depend on the actual progress of inventory reduction, the transmission efficiency of macroeconomic recovery to consumer spending power, and the shift in capital expenditure by leading liquor companies toward high-dividend logic. Industry insiders note that truly sustainable price increases still require dual confirmation of comprehensive consumer confidence recovery and inventory clearance. Investors should focus more on leading companies with stable cash flows and genuine sales, while remaining cautious of false prosperity driven by channel stockpiling.
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