KWEICHOW MOUTAI(SH:600519) 21世纪经济报道·2025-07-02 00:26Core Viewpoint - The article discusses the recent decline in both the price and stock value of Kweichow Moutai (600519.SH), highlighting investor sentiment and market reactions, particularly focusing on the comments made by renowned investor Duan Yongping regarding the company's resilience despite price drops [2][4]. Group 1: Price and Stock Performance - Kweichow Moutai's liquor prices and stock prices have been consistently declining, with Duan Yongping questioning the market's fears and emphasizing that the company's fundamentals remain strong [2][4]. - As of July 1, 2023, the stock price of Kweichow Moutai was reported at 1405.1 yuan, with a total market capitalization of 1.77 trillion yuan, reflecting a cumulative decline of 12.58% since May 15, 2023 [6]. - The wholesale reference price for Feitian Moutai (53 degrees/500ml) fell below the psychological threshold of 2000 yuan, with prices dropping from 2255 yuan to 1925 yuan for original boxes, indicating a decline of 14.63% [5]. Group 2: Market Sentiment and Investor Behavior - Duan Yongping has previously expressed confidence in Kweichow Moutai, stating that a decrease in liquor prices does not equate to poor company performance, and he has continued to invest in the company during price dips [4][5]. - Recent discussions among investors reveal concerns about the stock's performance, with some expressing a desire to buy more shares at lower prices, while Duan advised caution against borrowing money for investments [5]. Group 3: Industry Challenges and Opportunities - The white liquor industry is currently facing a period of deep adjustment due to policy changes, shifts in consumer behavior, and increased competition, as highlighted in a report by the China Alcoholic Drinks Association and KPMG [8][9]. - Despite the challenges, there are opportunities for growth in the high-end liquor segment, supported by brand strength and a potential recovery in demand as economic conditions improve [9][10]. - Analysts suggest that the current demand for white liquor is at a historical low, but with supportive policies, a gradual recovery in demand is expected, particularly in the high-end market [10].