KWEICHOW MOUTAI(SH:600519) Di Yi Cai Jing·2025-11-04 01:33Core Viewpoint - The upcoming "Double Eleven" shopping festival has prompted e-commerce platforms to increase promotions on premium liquor, particularly Moutai, leading to concerns among liquor distributors about potential market price disruptions [3][4]. Group 1: Price Trends - The price of 53-degree Feitian Moutai has dropped below 1600 yuan per bottle due to a subsidy from an e-commerce platform, with the current price at 1590 yuan after a 397 yuan subsidy [3]. - The wholesale price of 53-degree Feitian Moutai has been on a downward trend, decreasing from 1730 yuan per bottle on October 23 to 1635 yuan by November 3 [3][4]. - Other premium liquor prices have also seen slight declines since the start of the "Double Eleven" promotions [3]. Group 2: Market Dynamics - Distributors express concerns that the ongoing price decline of Moutai could negatively impact the pricing structure of other premium liquors, especially as the year-end is a peak sales season [4]. - Analysts indicate that the current low-price competition among e-commerce platforms is driven by a combination of weak consumer demand and inventory clearance efforts by distributors [4]. - The traditional liquor distribution system is facing significant challenges due to aggressive online pricing strategies, which sometimes involve selling at a loss to attract customers [4].