KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-12-24 12:17Core Viewpoint - The recent price fluctuations of Moutai products, particularly the significant increase in the price of the Snake Year Moutai, have raised concerns about the short-term pricing logic in the market [1][4]. Price Trends - Moutai products began to see price increases starting from the evening of December 23, with the 25-Year Flying Moutai rising by 40 yuan per bottle to reach 1600 yuan per bottle [4]. - The Snake Year Moutai experienced a notable price surge, jumping from 1770 yuan per bottle to 2000 yuan per bottle, marking a daily increase of over 13% [4]. Market Demand and Speculation - Despite the price increases, a senior liquor dealer indicated that market demand has not changed significantly, attributing the price rise to psychological factors and inter-dealer demand rather than actual consumption [5]. - There are rumors regarding the potential discontinuation of the Snake Year Moutai, which could enhance its scarcity and attract investors or collectors [5]. Upcoming Events Impacting Prices - The upcoming Moutai dealer conference on December 28 is anticipated to influence short-term price trends, with speculation that new product strategies may be announced [6]. - The market is particularly focused on the potential reduction of non-standard products, which could tighten supply in certain segments and support prices [6]. Industry Sentiment - Most industry insiders maintain a rational perspective on the recent price movements, suggesting that the psychological-driven price increases lack long-term support [6]. - The future market trajectory will depend on the recovery of demand and the policies released by Moutai during the dealer conference [6].