KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-12-18 07:02Group 1 - The domestic consumption market is showing signs of year-end rhythm, with wedding banquets in regions like Guangdong and Jiangsu seeing over a 30% year-on-year increase in orders, driving demand for gifts and liquor [1][2] - The 95 and 00 generations are becoming the main consumers of liquor, leading to a diversification and personalization in wedding wine choices, with Moutai's product matrix aligning well with these demands [1] - Moutai's investment and collection appeal is increasing, contributing to a rise in prices of its non-standard products [1] Group 2 - The market performance of Moutai's Flying Moutai and sauce-flavored series is strong, with the average retail price of 53-degree 500ml Flying Moutai at 1827 yuan per bottle, a 5 yuan increase from the previous day [2][4] - Prices across different regions are stable, with the southern market leading, where retail prices in cities like Guangzhou and Shenzhen have reached an average of 1884.1 yuan per bottle [4] - The Moutai sauce-flavored series achieved over 145 million yuan in sales during a promotional event, with a significant 840% year-on-year increase in sales for Moutai 1935 on JD.com [7] Group 3 - The prices of Moutai's non-standard products are stabilizing and increasing, reflecting the market resilience of high-end liquor driven by both consumption and investment attributes [8] - The average retail price for boutique Moutai is 2290 yuan per bottle, with various other products also experiencing price increases [8][9] - The overall high-end liquor industry remains resilient, with personalized non-standard products still in demand, and the market is adjusting to consumer needs [10] Group 4 - Moutai's positive market signals are impacting the capital market, with the stock price of Guizhou Moutai showing a slight increase, supporting the sentiment in the liquor sector [10] - Many brokerages believe the liquor sector is in an adjustment phase, with social inventory entering a new digestion stage, providing a stable foundation for mainstream liquor prices [10] - As consumer confidence gradually recovers, high-end liquor, led by Flying Moutai, is expected to benefit from year-end and New Year consumption scenarios [10]