KWEICHOW MOUTAI(SH:600519) Mei Ri Jing Ji Xin Wen·2026-01-31 06:41Core Viewpoint - The market price of Feitian Moutai has risen for three consecutive days, with the original box price exceeding 1700 yuan per bottle, marking the highest daily increase of the year at approximately 100 yuan per bottle [1][6]. Group 1: Market Dynamics - The terminal market price in Chengdu has reached 1860 yuan per bottle, an increase of 160 yuan compared to the previous two days, indicating a strong demand exceeding expectations [1][3]. - Many distributors express that the current market demand recovery has surpassed their expectations, with some describing the purchasing power as "massive" [1][3]. - The price of Feitian Moutai has seen multiple increases within a single day, with reports of prices rising four times in one day and twice the next day, driven by high demand as the holiday approaches [3][6]. Group 2: Seasonal Demand and Supply Factors - The seasonal demand increase due to the Spring Festival is a significant factor, alongside the impact of the iMoutai platform releasing Feitian Moutai at a lower price, which has stimulated market demand [3][7]. - The current price trend is expected to be influenced by supply and demand dynamics, with many distributors having already sold out their quotas for January and February, potentially leading to a situation where demand exceeds supply [8][9]. Group 3: Consumer Behavior and Market Sentiment - The iMoutai platform has attracted a large number of new consumers, many of whom are not traditional channel customers, indicating a shift in the consumer base [7]. - There is a cautious sentiment regarding the sustainability of the current price increase, with concerns that the demand driven by holiday gifting may not translate into long-term purchasing behavior [9]. - Some distributors report a decline in group purchase customers by over 30% year-on-year, suggesting that the current purchasing activity is primarily driven by short-term needs rather than sustained demand [9].