KWEICHOW MOUTAI(SH:600519) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-04 13:40Core Viewpoint - The price of Feitian Moutai has continued to decline, with significant drops observed since late November, reflecting a broader downward trend in the market for this premium liquor [2][4]. Price Trends - As of December 4, the wholesale price for 25-year Feitian (loose) 53-degree/500ml is reported at 1545 RMB per bottle, down 5 RMB from the previous day, while the original 25-year Feitian is priced at 1550 RMB, down 10 RMB [2][3]. - The price of Feitian Moutai has decreased over 30% from its peak earlier this year, indicating a sustained downward trajectory [3][4]. Market Dynamics - The retail price of Feitian Moutai has shown a consistent decline since June 11, when the loose bottle price first fell below 2000 RMB, marking the beginning of a price reduction trend [4]. - E-commerce platforms have played a significant role in the price drop, with promotional activities leading to prices falling below 1600 RMB per bottle, and some platforms offering prices as low as 1399 RMB [5][8]. Company Response - In response to the ongoing price decline, Moutai Group is actively taking measures to stabilize the market, including agreements with major e-commerce platforms to combat unfair competition [8].