库存压力叠加“618”电商大促，使得白酒价格普遍下跌 部分高端白酒电商零售价击穿批发价

Group 1 - The core viewpoint of the article highlights a significant price drop in high-end liquor during the "618" shopping festival, with major e-commerce platforms offering substantial discounts and subsidies on brands like Moutai and Wuliangye [1][2] - Moutai's price can drop to as low as 1840 yuan per bottle with promotional subsidies, compared to last year's price range of approximately 2300 to 2500 yuan [2] - Other high-end liquors, such as Wuliangye and Guojiao 1573, also see promotional prices below their wholesale prices, indicating a broader trend of price reductions across the industry [2] Group 2 - The liquor industry is facing increased pressure from counterfeit products, prompting companies like Wuliangye to enhance their anti-counterfeiting measures on e-commerce platforms [3] - Wuliangye reported the removal of 261 counterfeit stores and the takedown of 6431 infringing links, with 16.65% of the products verified as counterfeit among those tested [3] - The overall stock prices of liquor companies have declined significantly, with all 20 liquor stocks in the A-share market dropping, leading to a total market value loss of 340 billion yuan this year [4] Group 3 - The liquor industry is entering a traditional off-season in Q2 2025, compounded by inventory pressures and the impact of the "618" sales event, resulting in widespread price declines [4] - Industry experts warn of the dual pressures from social consumption and industry cycles, indicating a challenging short-term outlook for the sector as it transitions from growth to a more saturated market [4]