KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2025-12-30 16:24Core Viewpoint - The announcement by iMoutai to launch the 500ml 53-degree Feitian Moutai at an official price of 1499 yuan per bottle starting January 2026 is seen as a significant move to address market chaos and improve consumer access to this high-demand product [1][3]. Group 1: Market Dynamics - The 1499 yuan Feitian Moutai has been nearly mythical in the market, with consumers often unable to purchase it at retail prices, leading to inflated prices of over 2500 yuan in secondary markets [3]. - The introduction of direct supply for the core product through iMoutai is expected to enhance user engagement on the platform and reduce gray market activities, thereby reshaping the pricing structure [3][5]. Group 2: Consumer and Market Reactions - The market response has been polarized, with regular consumers expressing excitement and anticipation, while scalpers are facing significant losses, with some secondary market prices dropping over 100 yuan in a single day [5]. - There remains a challenge regarding the limited daily supply, which could still lead to rapid sellouts, but the initiative signals a commitment from Moutai to restore a fair consumption environment for consumers [5]. Group 3: Strategic Implications - This move reflects Moutai's deep restructuring of channel order and brand value, positioning iMoutai as a core driver of profit growth, with sales reaching 200 billion yuan in 2024 and 126.92 billion yuan in the first three quarters of the current year [3]. - The ultimate goal is to make Moutai accessible to the general public, marking a potential shift towards rational consumption in the high-end liquor market in China [5].