分析人士表示，飞天茅台价格回暖，是最近贵州茅台持续走强的主要催化因素，而飞天茅台价格回暖，背后的核心举措在于渠道与价格体系的双重调整。 近期，飞天茅台市场价格波动剧烈。上周酒价突然两天跳涨150元/瓶，一个周末又跌去160元/瓶，本周茅台价格再次上涨。第三方平台数据显示，2月8 日，2026年飞天茅台原箱(53度/500ml)报1710元/瓶，较2月2日增长120元；2026年飞天茅台(散)报1630元/瓶，较2月2日增长60元。 | 茅台飞天 | | | 2026年2月8日 (公众号: 今日酒价) | | --- | --- | --- | --- | | 品名 | 规格 | 昨日行情 | 今日行情 | | の26年で天(原) | 53度/500ml | 1710 | 1710 | | 2 26年飞天(散) | 53度/500ml | 1630 | 1660 ↑ | | 25年飞天(原) | 53度/500ml | 1740 | 1735 ↓ | | 25年飞天(散) | 53度/500ml | 1640 | 1670 ↑ | | 24年飞天(原) | 53度/500ml | 1780 | 1780 | | ...

Core Viewpoint - The article discusses the recent fluctuations in the market price of Moutai's "Flying Moutai" and the operational updates from the iMoutai app, highlighting the impact of user experience and market dynamics on the company's performance [1][5]. Group 1: iMoutai App Updates - The iMoutai app will undergo maintenance from February 8, 2026, 14:00 to February 9, 07:00 to improve user experience and system stability due to high traffic [1]. - Users reported difficulties in loading the iMoutai app, affecting their ability to purchase products [1]. Group 2: Market Price Fluctuations - The market price of Flying Moutai has seen significant volatility, with a sudden increase of 150 yuan per bottle followed by a decrease of 160 yuan over the weekend [1]. - As of February 8, 2026, the price for a full box of Flying Moutai (53 degrees/500ml) is reported at 1710 yuan, an increase of 120 yuan since February 2 [2]. - The price for loose Flying Moutai (53 degrees/500ml) is reported at 1630 yuan, up by 60 yuan since February 2 [2]. Group 3: Company Stock Performance - Following the recent price recovery of Flying Moutai, the stock price of Kweichow Moutai has increased by over 14% since January 29, 2026, reaching above 1500 yuan [3]. - As of February 6, 2026, Kweichow Moutai's total market capitalization is 1.8972 trillion yuan, ranking fourth in the A-share market [3]. Group 4: Price and Channel Adjustments - Analysts suggest that the recovery in Flying Moutai prices is a key factor driving Kweichow Moutai's strong performance, attributed to adjustments in both the distribution channels and pricing strategies [5].

Group 1 - The iMoutai app experienced significant traffic, leading to issues such as page lag and difficulties in purchasing products [1][2] - To enhance user experience and system stability, the company announced a maintenance upgrade scheduled from February 8, 2026, 14:00 to February 9, 2026, 07:00 [1] - During the maintenance period, some app functionalities may be temporarily unavailable, and users will be notified if the maintenance time is extended [1]

Group 1 - The core viewpoint of the article is that Guizhou Moutai's self-operated e-commerce platform "i Moutai" is undergoing maintenance to enhance user experience and system stability due to high traffic on the app [1] - The maintenance is scheduled from February 8, 2026, 14:00 to February 9, 2026, 07:00, during which users may experience temporary issues with certain functionalities of the i Moutai app [1]

每经AI快讯，贵州茅台自营电商平台"i茅台"2月8日发文称，近日，由于i茅台APP平台流量较大，用户在使用i茅台APP时出现了页面卡顿等现象。为持续优 化使用体验，提升系统稳定性与服务质量，i茅台APP计划于2026年2月8日14:00-2月9日07:00进行维护升级。在此期间，用户登录或使用i茅台APP时，部分 功能可能出现短暂异常。如遇特殊情况导致维护时间延长，将另行通知。 （文章来源：每日经济新闻） ...

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 2月8日，多名网友发文表示，上午抢购成功的1499元飞天茅台订单，已在晚间收到退款通知。实际上， 其可能涉嫌在i茅台APP进行"恶意抢购"。目前，针对同一ip下单，同一地址和电话收货的8类异常订 单，平台开始强制退款处理。 据i茅台APP于2026年1月9日更新、2026年1月16日生效的最新版《i茅台平台服务协议》显示，存在下列 情况之一，经i茅台判定属于恶意使用服务的：（1）多个账户使用同一收货地址； （2）多个账户使用相同支付账号；（3）多个账户使用相同IP地址；（4）多个账户使用同一收货手机 号；（5）多个账户和多个支付账号交叉使用； （6）多个账户使用同一移动设备识别码；（7）冒用他人的联系电话、收货地址进行提交订单的； （8）收货人声称商品非本人订购、未委托他人订购且未接受他人为自己订购。 i茅台强调，"基于维护交易秩序及交易安全的需要，i茅台平台有权在您的行为违反上述约定时，执行取 消相应交易订单、限制或禁止账号部分或全部功能、账号封禁、注销等操作而无需事先通知您。" 责任编辑：韦子蓉 新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The food and beverage sector is experiencing a strong upward trend, driven by multiple factors including policy support, trading dynamics, fundamental improvements, and external catalysts, indicating clear investment value [3][9] - The food and beverage index increased by 4.3% from February 2 to February 6, outperforming the CSI 300 by approximately 5.6 percentage points, with sub-sectors like liquor, soft drinks, and beer leading the performance [9][11] - The liquor industry is entering a new development cycle, with Guizhou Moutai's market-oriented reforms marking a significant phase, and the pricing system gradually returning to a supply-demand driven model [10] Summary by Sections Market Performance - The food and beverage index rose by 4.3%, ranking first among 28 sectors, with liquor (+5.3%), soft drinks (+4.7%), and beer (+4.5%) showing relative strength [11][12] - Individual stocks such as Huangtai Liquor, Hai Xin Food, and Ri Chen Co. saw significant gains, while *ST Yedao, *ST Chuntian, and Li Ziyuan experienced declines [11][14] Upstream Data - Some upstream raw material prices are declining, with the price of whole milk powder at $3,614 per ton, down 13.3% year-on-year, and fresh milk prices at 3.04 yuan per kilogram, down 2.9% year-on-year [15][31] - The price of pork is down 20.1% year-on-year, with live pig prices at 12.2 yuan per kilogram, reflecting a broader trend of price adjustments in the sector [21][24] Liquor Industry News - Some distributors of Moutai have sold out their first batch of flying Moutai quotas for March, indicating strong demand during the Spring Festival [36] - The Qingdao Beer production base has commenced operations, aiming to produce high-end products and achieve an annual output value of approximately 1 billion yuan [36] Investment Recommendations - Focus on leading liquor stocks such as Guizhou Moutai, Wuliangye, Luzhou Laojiao, and Shanxi Fenjiu, as well as elastic stocks like Shede Liquor and benefiting stocks like Jiu Gui Liquor [10] - In the consumer goods sector, three main lines are suggested: the snack sector, dairy products, and the restaurant supply chain, with specific companies highlighted for potential growth [10][43]

Core Viewpoint - The price of 26-year Feitian Moutai remains stable, while the price of 25-year Feitian Moutai shows mixed trends with slight declines and increases in different packaging types [1] Price Summary - On February 8, the price of 26-year Feitian Moutai in original boxes is reported at 1710 yuan per bottle, unchanged from the previous day [1] - The price of 26-year Feitian Moutai in loose bottles increased by 30 yuan, reaching 1660 yuan per bottle [1] - The price of 25-year Feitian Moutai in original boxes decreased by 5 yuan, now at 1735 yuan per bottle [1] - The price of 25-year Feitian Moutai in loose bottles increased by 30 yuan, now at 1670 yuan per bottle [1]

Core Viewpoint - Moutai's recent market-oriented reforms have led to significant increases in consumer demand and sales across various channels, demonstrating the effectiveness of its strategy to engage directly with consumers and adapt to market needs [2][25][30] Group 1: Consumer Demand and Sales Performance - Moutai's self-operated store in Chongqing reported a 41% year-on-year increase in foot traffic since early January, with peak daily visits reaching around 300 [1][7] - The iMoutai platform saw over 15.31 million active users in January, with 6.28 million new registrations and over 2.12 million orders, including more than 1.43 million for the 500ml Flying Moutai [3][5] - The overall sales of Moutai products have been robust, with many stores reporting supply shortages and increased consumer inquiries [3][13] Group 2: Market Strategy and Reforms - Moutai's market-oriented reforms initiated in January 2026 focus on a consumer-centric approach, enhancing product availability, pricing, and service [1][4][19] - The company has implemented a "pyramid" product strategy, emphasizing the 500ml Flying Moutai as the core product while diversifying offerings to include premium and collectible items [17][19] - Moutai's pricing strategy aims for stability and alignment with market demand, avoiding drastic price cuts while selectively increasing prices for certain products [19][28] Group 3: Channel and Service Enhancements - Moutai is transitioning to a multi-channel marketing system that includes self-sale, distribution, consignment, and agency sales, enhancing overall market penetration [21][29] - The company has improved customer service by expanding its customer support team and implementing AI systems to handle increased demand [24][23] - Moutai's stores are enhancing the customer experience by providing tasting areas and personalized service, which has attracted new customers and increased sales of other products [9][10][12] Group 4: Long-term Implications and Industry Position - Moutai's proactive approach to market reforms is seen as a strategic shift that not only boosts sales but also addresses long-term consumer demand, positioning the brand as a leader in the premium beverage market [27][30] - The company's ability to adapt to consumer needs and optimize its supply chain is expected to solidify its market position and serve as a model for other companies in the industry [25][30]

Investment Rating - The report assigns an "Accumulate" rating for the food and beverage industry [1] Core Insights - Recent policies have strengthened consumer expectations, leading to marginal improvements in consumption during the Spring Festival peak season. The performance of high-end liquor, particularly Moutai, has rebounded, and the stability in pricing has improved market sentiment [3][4] - The report highlights the potential for recovery in the food and beverage sector, driven by improved domestic demand and consumption patterns as the Spring Festival approaches [4][7] Summary by Sections Investment Recommendations - The report suggests focusing on high-end liquor stocks with price elasticity, recommending companies such as Guizhou Moutai, Wuliangye, and Luzhou Laojiao. It also identifies potential stocks for gradual clearance, including Yingjia Gongjiu and Gujing Gongjiu [7] - Beverage companies are expected to benefit from favorable travel conditions, with recommendations for Dongpeng Beverage and Nongfu Spring. Low valuation and high dividend stocks like China Foods and Master Kong are also highlighted [7] - For snacks and food raw materials, recommended stocks include Bailong Chuangyuan and Weilong [7] - Beer recommendations include Qingdao Beer and Zhujiang Beer, while condiment and catering sectors are expected to recover, with recommendations for Qianhe Flavor Industry and Baoli Food [7] Liquor Sector Insights - The high-end liquor sector is leading market sentiment, with Moutai's sales data boosting confidence. The report notes that Moutai's monthly active users exceeded 15.31 million, with over 2.12 million orders in January [8][9] - The liquor industry is currently at a cyclical bottom, with expectations for recovery in sales and pricing as the Spring Festival approaches. Positive trends in inventory and demand could catalyze stock prices further [9] Consumer Goods Insights - The approval of D-allohexose-3-epimerase as a food additive is expected to expand the market for this product, benefiting leading companies like Bailong Chuangyuan. The report anticipates significant growth potential for this company [10][11] - The catering supply chain is expected to recover, with companies like Baobi Food showing promising growth driven by new store formats. The report notes Baobi's revenue of 1.859 billion in 2025, a year-on-year increase of 11.22% [11]