KWEICHOW MOUTAI(SH:600519) Xin Lang Cai Jing·2026-02-19 00:49Core Viewpoint - The Chinese liquor market is experiencing a mixed trend in retail prices for the top ten products, with the overall price remaining stable at 9226 yuan, maintaining the highest level since 2026. The market is currently in a high-level consolidation phase with balanced bullish and bearish forces [1][7]. Price Movements - The market shows a balanced distribution with five products increasing in price and five decreasing. Notable price increases include: - Qinghua Fen 20, up 10 yuan per bottle, reaching a new high of 401 yuan [1][3] - Shuijing Jian Nan Chun, up 7 yuan per bottle, returning above 415 yuan [1][4] - Wuliangye Pu Wu 58, up 5 yuan per bottle [1][3] - Xijiu Junpin and Qinghua Lang, both up 1 yuan per bottle [1][4] - Decreasing products include: - Jingpin Moutai, down 8 yuan per bottle [1][3] - Guojiao 1573, down 7 yuan per bottle [1][4] - Feitian Moutai, down 4 yuan per bottle [1][3] - Gujing Gong Gu 20, down 3 yuan per bottle [1][4] - Yanghe Dream Blue M6+, down 2 yuan per bottle [1][4] Market Analysis - The overall market analysis indicates that previously strong products are undergoing a short-term adjustment, while some mid-range products are taking the lead in price increases. The overall price center remains stable [1][7]. Data Collection Methodology - The "Liquor Price Reference" collects data from approximately 200 sampling points across various regions, including designated distributors, social distributors, e-commerce platforms, and retail outlets. The data aims to provide an objective and traceable representation of the market prices for well-known liquors [5][10]. Financial Performance of the Industry - According to statistics, the net cash flow from operating activities of A-share listed companies (excluding banks and non-bank financial industries) reached 3.61 trillion yuan in the first three quarters of 2025, a 16.98% increase year-on-year. This indicates a significant improvement in cash generation capabilities, with the food and beverage sector, including liquor, showing positive free cash flow [6][10].