KWEICHOW MOUTAI(SH:600519) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-04 13:14Core Viewpoint - The price of Moutai has continued to decline, with significant drops observed since late November, raising concerns about market stability and pricing strategies [1][3]. Price Trends - As of December 4, the wholesale price for 25-year Moutai (loose) is 1545 RMB per bottle, down 5 RMB from the previous day, while the original 25-year Moutai is priced at 1550 RMB, down 10 RMB [1][2]. - The price of Moutai has decreased over 30% from its peak this year, with a notable decline starting from June when it first fell below 2000 RMB [3]. Market Dynamics - The decline in Moutai prices has been exacerbated by promotional activities on e-commerce platforms, with some prices dropping below 1600 RMB, and a group purchase price on Pinduoduo reaching as low as 1399 RMB [3][5]. - Moutai Group is actively working to stabilize the market by collaborating with major e-commerce platforms to prevent unfair competition and ensure proper integration into the Moutai distribution ecosystem [5].