创新低！茅台售价低见1700元

Core Viewpoint - The wholesale price of Moutai's 2025 53-degree 500ml flying Moutai has reached a record low, indicating a significant decline in market prices and potential challenges for the company and the industry [1][5]. Price Trends - As of September 14, 2025, the wholesale reference price for 500ml flying Moutai in loose bottles is 1770 yuan, down 10 yuan from the previous day, marking the lowest price since its launch [1]. - The original box price remains at 1790 yuan, also a historical low, with both prices showing a cumulative decline of over 20% compared to their initial prices of 2220 yuan and 2255 yuan [1][5]. - The price of the 1L "kg Moutai" original box has dropped to 3300 yuan, reflecting an 18.92% decrease since the beginning of the year [5]. Market Dynamics - The secondary market for Guizhou Moutai shares is under pressure, with a slight decline in stock price to 1516 yuan per share as of September 12 [2]. - Retail prices are aggressive, with some platforms offering the 2025 flying Moutai at prices as low as 1700 yuan per bottle, while overseas versions are priced even lower [5]. Company Response - During a performance briefing on September 12, the company acknowledged the challenges posed by industry cycles and changing consumer trends, stating that it is actively managing channel ecosystems to mitigate these effects [6]. - The company remains cautiously optimistic about future sales, particularly with the upcoming holiday season, as there has been a noticeable improvement in terminal sales since late August [6].