KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-12-06 06:00Core Viewpoint - The prices of various vintages of Moutai have experienced a simultaneous decline, indicating a shift in market dynamics and supply-demand pressures, which may lead to increased trading activity in the short term [1][3][7]. Price Movements - The price of 24-year Moutai dropped by 30 yuan to 1630 yuan per bottle for original boxes and 1600 yuan for loose bottles [1][2]. - The 23-year Moutai saw a decrease of 40 yuan to 1860 yuan for original boxes and 20 yuan to 1720 yuan for loose bottles [1][2]. - The 25-year Moutai prices were reported at 1550 yuan for original boxes and 1545 yuan for loose bottles, showing a slight decline [2]. Market Reactions - Distributors are responding in two ways: some are quickly selling off inventory to avoid storage pressure, while others are maintaining their positions, leading to price discrepancies across different regions [5][6]. - The market is experiencing increased short-term trading activity, with sellers willing to accept lower prices for cash flow, while buyers are cautious about potential further declines [7][8]. Consumer Impact - The decline in loose bottle prices may dampen consumer purchasing impulses, while the drop in original box prices affects those buying for gifts or long-term collection [6][7]. - The simultaneous price drop across different vintages suggests a broader market consensus on weakening expectations [3][8]. Future Outlook - The recent price adjustments are expected to serve as a new reference point for market participants, with ongoing observation of transaction volumes and regional price differences [8].