KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2026-02-02 04:09Core Viewpoint - The launch of iMoutai at a price of 1499 yuan has not led to a decrease in Moutai prices; instead, prices have increased due to high demand and limited supply [1][19]. Price Trends - Moutai prices have risen over two consecutive days, with the price of 25-year Flying Moutai bottles returning to 1600 yuan [1][4]. - Specific price changes include: - 26-year Flying Moutai original box: increased from 1565 to 1590 yuan (+25) - 25-year Flying Moutai original box: increased from 1575 to 1600 yuan (+25) - 25-year Flying Moutai scattered bottles: increased from 1570 to 1590 yuan (+20) [4][17]. Market Demand - There is a significant demand for Moutai, with reports indicating that distributors have sold out their February stock [3]. - The introduction of iMoutai has attracted new consumers who previously did not purchase Moutai, indicating a successful marketing strategy [3][16]. Consumer Behavior - Moutai has become a necessity for gifting, especially with the upcoming Spring Festival, reinforcing its status as a symbol of social status and identity [5][17]. - Consumers are willing to try Moutai even if they do not typically drink alcohol, highlighting the brand's strong appeal [5][16]. Supply and Pricing Power - Moutai's price increases reflect a supply-demand imbalance, with the company maintaining strong pricing power despite rising costs [11][19]. - The production of Moutai is limited due to specific geographical and production conditions, ensuring its scarcity and long-term value [10][14]. Future Outlook - While current price increases are noted, there are concerns about potential price corrections post-Spring Festival due to ongoing inventory pressures in the white liquor industry [19]. - The market dynamics suggest that Moutai's pricing will remain under scrutiny, with significant price fluctuations expected based on consumer demand and supply chain factors [19].