Liquor Price Internal Reference March 23rd Price Release, Wuliangye Puwu 8th Generation Remains Unchanged

Sina Finance “Wine Price Insider” collected data over the past 24 hours showing that the retail prices of major Chinese liquor products slightly increased on March 23. If one bottle of each of the 11 major products is packaged and sold together, the total price today is 9,931 yuan, up 14 yuan from yesterday. The price focus of high-end products has clearly risen, and the overall market performance remains stable.

Today, in the Chinese liquor market, seven major products rose, three fell, and one remained unchanged. Among the increases, Kweichow Moutai Boutique led with an 8 yuan per bottle increase, reaching the highest point in a month, with channel prices also rising; Wuliangye 1618 increased by 4 yuan per bottle; Guojiao 1573 and Yanghe Mengzhilan M6+ both increased by 3 yuan per bottle; Qinghua Fen 20 and Xijiu Junpin both increased by 2 yuan per bottle; Gujinggong Gu 20 rose slightly by 1 yuan per bottle. On the decline side, Qinghualang dropped 5 yuan per bottle; Feitian Moutai decreased by 3 yuan per bottle; Crystal Jiannan Spring fell slightly by 1 yuan per bottle. The price of Wuliangye Puwu Baidai remained unchanged compared to the previous period.

The daily data of “Wine Price Insider” comes from approximately 200 collection points reasonably distributed across various regions nationwide, including but not limited to designated distributors of liquor companies, social distributors, e-commerce platforms, and retail outlets. The original sampling data reflects the actual transaction terminal retail prices handled at each point over the past 24 hours, aiming to provide an objective, scientific, and fully traceable dataset on the market prices of well-known Chinese liquors. With the official iMoutai platform starting sales of Feitian Moutai at 1,499 yuan per bottle during New Year’s Day and the sale of Boutique Moutai at 2,299 yuan per bottle starting January 9, the influence of these new channels on the retail prices of these two products has gradually become apparent. The daily liquor prices published by “Wine Price Insider” follow a weighted calculation based on actual transaction volumes, and we have incorporated quantifiable prices into the terminal retail prices of Feitian Moutai and Boutique Moutai.

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In terms of brokerage research reports on the Chinese liquor industry, Guojin Food & Beverage team’s latest weekly report points out that as liquor companies’ 2025 performance figures are gradually disclosed, the industry has entered a phase of accelerated performance clearance since Q3 last year. It is expected that from Q4 2025 to Q1 2026, listed liquor companies will maintain a similar clearance slope, and in the second half of 2026, they may stabilize on a low base. The report judges that the current Chinese liquor industry is still in a “slowing decline” stage, gradually entering a low-base window after the holiday, coupled with good consumer reception during the Spring Festival, and the industry is expected to transition to a “bottom stabilization” phase. From a allocation perspective, the report believes that the Chinese liquor sector has a higher success rate under low expectations, with macro indicators such as PPI (Producer Price Index) and M1 (Narrow Money Supply) providing forward-looking signals on demand. In terms of allocation, it is recommended to focus on high-end brands with strong brand power (Kweichow Moutai, Wuliangye), regional leaders benefiting from rising channel momentum (Shanxi Fenjiu), and companies benefiting from resilient mass demand; also, attention should be paid to broadly nationalized well-known liquors with cyclical resilience and companies with new catalytic factors.

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Editor: Li Ang