Xin Lang Cai Jing·2026-01-28 01:17Core Viewpoint - The "Wine Price Reference" by Sina Finance has launched, providing real-time data on the retail prices of major Chinese liquor brands, indicating a mixed market trend with a slight overall decline in prices [1][5]. Price Trends - The average retail price of the top ten liquor products in China on January 28 was 8,866 yuan, down 20 yuan from the previous day, marking a new low in the past five days [1][7]. - The market showed four price increases and six decreases: - Increases: Premium Moutai up 6 yuan/bottle, Crystal Jian Nan Chun up 3 yuan/bottle, Guojiao 1573 and Dream Blue M6+ each up 2 yuan/bottle [1][7]. - Decreases: Qinghua Lang down 17 yuan/bottle, Feitian Moutai down 9 yuan/bottle, Xijiu Junpin down 3 yuan/bottle, and Gu Qingong Gu 20 down 2 yuan/bottle [1][7]. Market Analysis - The A-share liquor sector has seen a decline, with the China Securities Liquor Index dropping to 8,293.16 points, the lowest since September 19, 2024, and marking six consecutive years of annual declines [5][9]. - Among 20 stocks in the liquor sector, the average decline over the past 11 trading days was approximately 8.5%, with a median decline of 6.6% [5][9]. - Six stocks experienced declines of over 10%, accounting for nearly 30% of the sector, including Shanxi Fenjiu, Yanghe Brewery, and Gujing Gongjiu [5][9]. Financing Activity - Despite the market downturn, there has been an increase in financing activity, with Guizhou Moutai seeing a net purchase of 3.166 billion yuan over the past ten trading days, reaching a financing balance not seen in a year and a half [5][9]. - Shanxi Fenjiu and Wuliangye also saw net increases of 250 million yuan and 120 million yuan, respectively [5][9].