KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-12-18 16:18Core Viewpoint - Despite short-term price fluctuations due to cyclical demand and macroeconomic factors, the overall price of Feitian Moutai remains stable, indicating significant market resilience and no fundamental change in long-term value logic [1][2]. Group 1: Price Stability and Market Dynamics - Feitian Moutai's price is currently experiencing narrow fluctuations, with recent reports indicating a retail price range of approximately 1650 to 1720 yuan for bulk products and 1827 yuan per bottle for retail, reflecting a slight increase [2][4]. - The company has effectively managed market volatility through precise delivery schedules and strict channel management, maintaining a healthy market inventory and instilling confidence in price stability among distributors [2][6]. - The retail average price for bulk Feitian Moutai in major cities like Guangzhou and Shenzhen is reported at 1884.1 yuan per bottle, with prices generally concentrated between 1800 and 2000 yuan [2]. Group 2: Policy Support and Market Confidence - Recent macroeconomic policies emphasize restoring and expanding consumption, with specific measures aimed at improving social expectations and boosting development confidence [5]. - The Central Economic Work Conference highlighted the importance of domestic demand and proposed actions to enhance consumer spending, which positively impacts the white liquor industry, including Moutai [5]. - Analysts suggest that the white liquor industry is entering a phase of rapid performance recovery, supported by easing policy pressures and consumption expansion initiatives [5]. Group 3: Company Initiatives and Strategic Adjustments - Moutai's price stability is attributed to strategic innovations focused on market-oriented transformation, emphasizing long-term value and consumer-centric approaches [6]. - The company is addressing supply-demand mismatches by implementing three transformations and three changes, focusing on channel ecology and market stability [6]. - Moutai is enhancing its product offerings and brand image by introducing high-value products tailored to new consumer scenarios, thereby improving overall quality and expanding its value dimensions [6].