Nan Fang Du Shi Bao·2025-09-01 23:35Core Insights - The white liquor industry is facing significant challenges, with many companies reporting declining performance in their half-year reports, although leading firms are managing to maintain growth albeit at a slower pace [2][12] - The Bay Area white liquor prices continue to trend downward, with high-end products frequently being sold at discounted prices [2][12] Price Trends - In Guangzhou, over half of the sampled products saw a decline in average retail prices, including high-end brands like Feitian Moutai and the eighth generation of Wuliangye, with price drops generally under 30 yuan [3][12] - The average price of Feitian Moutai in Guangzhou is approximately 2106 yuan, down about 28 yuan from the previous period, while the eighth generation of Wuliangye averages around 921 yuan, down 23 yuan [3][12] - Online and offline price discrepancies are notable, with Feitian Moutai's lowest online price at 1889 yuan and the highest at 2299 yuan, a difference of 410 yuan [4][12] Regional Analysis - In Shenzhen, the average retail price of Feitian Moutai is about 2126.16 yuan, down 11 yuan, influenced by a low price of 1896 yuan on an online platform [5][12] - In Foshan, the average price of Feitian Moutai dropped nearly 70 yuan to 2256 yuan, with online prices as low as 1999 yuan [8][12] - East Guangdong shows a mixed price trend, with 9 out of 18 sampled products experiencing price declines, while some products like金沙摘要 saw increases [10][11][12] Industry Challenges - The overall average price of many products remains below 1000 yuan, reflecting the industry's pricing difficulties amid high inventory levels and sales pressures [12] - In the first half of the year, 20 A-share listed liquor companies reported total revenue of 2415.08 billion yuan, a slight decrease of 20.86 billion yuan year-on-year, indicating ongoing market challenges [12] - Companies are exploring transformation strategies, such as launching low-alcohol products and focusing on innovation and market expansion to adapt to changing consumer preferences [12]