KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-06-19 06:17Core Viewpoint - The price of Moutai, a high-end Chinese liquor, is experiencing a downward trend, with recent wholesale prices for 25-year and 24-year Moutai bottles reported below 2000 yuan, reflecting changes in consumer demand and market dynamics [1][3][4]. Price Trends - As of June 19, 2025, the wholesale reference price for 25-year Moutai in bulk is 1930 yuan, while the 24-year Moutai is priced at 1950 yuan [1]. - The prices for 25-year and 24-year Moutai have not exceeded 2000 yuan since June 15, 2025, indicating a stable but declining market [1][3]. - Online platforms show Moutai prices generally above 2000 yuan, but some consumer subsidies allow prices to drop to around 1900 yuan [3]. Market Dynamics - The overall trend for Moutai prices in 2024 has been downward, with second-hand market recovery prices for 25-year Moutai around 1850 yuan, indicating a challenging resale environment [3][4]. - Industry experts predict that the decline in Moutai prices is linked to reduced consumer demand and changing demographics, with younger consumers showing less interest in high-end liquor [4][5]. Industry Implications - The decline in Moutai prices may influence the pricing strategies of other high-end liquor brands, potentially leading to a broader market adjustment [5]. - Experts suggest that liquor companies need to adopt effective measures to restore market confidence amidst the downward price trend [5].