KWEICHOW MOUTAI(SH:600519) 第一财经·2026-01-06 04:50Core Viewpoint - The launch of the Guizhou Moutai Zodiac Wine (Year of the Horse) has sparked significant market interest, but experts warn that the investment and financial attributes of such products are diminishing, making it unlikely for explosive price increases to continue in the long term [3][4][5]. Group 1: Product Launch and Market Response - Guizhou Moutai officially launched the Year of the Horse Zodiac Moutai, marking the second round of Zodiac Moutai releases [3]. - The Year of the Horse Zodiac Moutai was quickly sold out on the iMoutai platform, similar to previous releases, with the basic version priced at 1899 yuan being resold by scalpers for as much as 3000 yuan [3][4]. - The product line includes three versions: classic, premium, and gift box, with prices ranging from 1899 yuan to 3789 yuan, utilizing both consignment and distribution sales models [4]. Group 2: Scalping and Market Dynamics - Scalpers began to engage in the market shortly after the launch, with reported buyback prices for the classic version reaching 2050 yuan, and the premium version reaching 3600 yuan, indicating a markup of 1100 yuan [4]. - Despite the initial hype, industry insiders caution that previous Zodiac Moutai releases have seen similar price surges followed by declines below the original price, indicating potential risks in the current market [4][5]. Group 3: Investment Outlook - Analysts suggest that the investment appeal of Zodiac Moutai has weakened significantly, with a shift towards cultural and gift attributes rather than financial speculation, making it difficult for explosive price increases to be sustained [5].