KWEICHOW MOUTAI(SH:600519) Sou Hu Cai Jing·2026-02-20 02:08Core Viewpoint - The latest pricing trends for Moutai show a slight increase in prices for newer vintages, while older vintages remain stable, indicating a market focus on the liquidity of new products. Group 1: Price Changes - Prices for 2026 and 2025 Moutai have increased by 10 yuan, with the 26-year original box priced at 1750 yuan and the 25-year original box at 1760 yuan [1][2] - The 24-year original box price remained unchanged at 1770 yuan, while the 24-year scattered bottle increased by 10 yuan to 1720 yuan [2] - The 30-year vintage saw a decrease of 100 yuan, now priced at 13100 yuan [3][5] Group 2: Market Trends - There is a clear differentiation in pricing, with new vintages (2024-2026) experiencing slight increases, while older vintages (2023 and earlier) maintain stable prices, reflecting market interest in new product circulation [2][6] - The price gap between original boxes and scattered bottles remains stable, with original boxes generally valued higher due to their collectible and circulation advantages [2] - The overall market trend is characterized by moderate fluctuations, with daily increases of 10 yuan considered normal [2][6] Group 3: Consumer Behavior - The recent price increases are attributed to strong consumer demand during the Spring Festival, with many consumers purchasing Moutai for gifting and personal consumption [5][12] - The introduction of the 1499 yuan Moutai has led to higher consumption rates, suggesting that Moutai is becoming a staple for festive occasions [8][12] - The consistent price increases and consumer confidence indicate a positive market outlook for Moutai in the near future [6][12]