Sou Hu Cai Jing·2025-12-09 01:13Core Viewpoint - The prices of premium Chinese liquors, such as Moutai and Wuliangye, are continuing to decline due to decreased consumer demand, particularly in the business sector, leading to significant price adjustments and revenue drops for these companies [2][6][10]. Group 1: Price Declines - Moutai's price on Pinduoduo has dropped to 1399 yuan, a significant reduction from over 3000 yuan previously, indicating a price cut of approximately 60% [2] - Wuliangye plans to adjust its price to 900 yuan per bottle, with potential discounts bringing it down to around 800 yuan, reflecting a price reduction of about 20% [6][12] Group 2: Financial Performance - In Q3, Moutai reported a revenue of 39.064 billion yuan, a slight increase of 0.56% year-on-year, and a net profit of 19.224 billion yuan, also up by 0.48% [8][11] - Wuliangye's Q3 revenue was 8.174 billion yuan, showing a dramatic decline of 52.66%, with a net profit of 2.019 billion yuan, down 65.62% [10][11] Group 3: Market Dynamics - The decline in sales is attributed to changing consumer habits and a lack of demand in traditional consumption scenarios, particularly among affluent consumers [8][10] - The liquor industry is experiencing a deep adjustment period, with expectations of slow recovery in demand [12][13]