近日，南都湾财社记者从多个渠道获悉，8月30日，舍得酒业(600702.SH)将推出首款低度酒高风味型老 酒"舍得自在"，该产品度数为29度。8月18日，古井贡酒(000596.SZ)推出新品"古井贡酒·年份原浆轻度 古20"，酒精度26度，容量分别为375ml和100ml，这是古井贡酒近年推出的首款低度白酒新品。 此外，五粮液(000858.SZ)将推出29度"一见倾心"，泸州老窖(000568.SZ)研发出了28度国窖1573，甚至 已在研发6度超低度产品。水井坊(600799.SZ)在部分市场试点38度以下新品，洋河升级33.8度微分子 酒，酒鬼酒更是准备了多达四款40度以下的低度产品……一场"降度竞赛"正在白酒行业席卷开来。 酒企密集布局，低度酒里到底藏了啥？ 今年6月以来，低度酒赛道越来越热闹。 从五粮液到泸州老窖，从水井坊到古井贡酒，再到舍得酒业等，为啥白酒上市公司都在密集布局低度白 酒赛道？ 关键在于增量。在白酒价格倒挂、库存高企的背景下，白酒上市公司业绩要么增长失速，要么断崖式下 滑，各大酒企都急需增量市场。 以舍得酒业为例，公司2024年实现营收53.57亿元，同比下滑24.41%；同期归属 ...

Core Insights - The white liquor market has experienced a collective price decline since 2025, affecting both high-end and mid-range products due to a cooling consumption environment and high inventory pressures [1][15][16] - The South China region, particularly the Guangdong-Hong Kong-Macao Greater Bay Area, has shown significant price differentiation and a notable decline in retail prices for various white liquor products [1][2][3] Market Performance - More than half of the monitored products have seen a price drop since the beginning of the year, with high-end products being the most affected [2][15] - Among 21 monitored products, 15 experienced a decline in average retail prices, with only 4 showing slight increases and 2 remaining stable [2][3] - The most significant price drop was observed in Feitian Moutai, which fell from approximately 2624 CNY to 2368 CNY, a decrease of 256 CNY [2][3] Price Trends by Product - Feitian Moutai's market price has dropped significantly, with current prices ranging from 2100 to 2400 CNY per bottle, marking a decline of over 15% from its peak [3][15] - Other products in the thousand CNY price range, such as the eighth generation Wuliangye and Guojiao 1573, also saw price reductions, with the eighth generation Wuliangye dropping by 110 CNY [10][15] - Mid-range products like Yanghe Dream Blue M6+ and Guotai Guobiao also experienced price declines, although to a lesser extent compared to high-end products [4][10] Regional Price Dynamics - In Guangzhou, 17 out of 21 products saw price declines, with Feitian Moutai dropping from 2648 CNY to 2305 CNY [7][8] - Shenzhen's market showed a downward trend in retail prices, although some products had inflated prices due to high-end retail channels [9][10] - Dongguan's market exhibited significant price fluctuations influenced by seasonal demand and promotional activities, with Feitian Moutai's price dropping to 2299 CNY during peak sales periods [12][13] Inventory and Market Conditions - The white liquor industry is currently in a deep adjustment phase, with high inventory levels leading to price pressures across all product categories [15][16] - Approximately 60% of companies are facing price inversion, particularly in the 800 to 1500 CNY price range, which is experiencing the most significant downward pressure [15][16] - The average inventory turnover days have increased to 900 days, indicating a challenging market environment for producers [15][16] Future Outlook - The market is expected to continue facing challenges as companies balance between maintaining prices and expanding market share [17][18] - The introduction of new statistical methods and the inclusion of additional cities like Foshan in price monitoring may provide a clearer picture of market dynamics moving forward [20][21]