非标产品方面，生肖马经典版散瓶报2650元/瓶，较上一日上涨120元。精品茅台报2320元/瓶，"茅台15年"报4100元/瓶，均 与上一日持平。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 飞天茅台价格持续上涨，25年飞天散瓶批价重回1600元关口。 1月28日，据第三方平台"今日酒价"披露的各大名酒批发参考价显示，飞天茅台、生肖马茅台（下称"马茅"）价格全线上 涨。其中，26年飞天茅台原箱（53度/500ml）报1590元/瓶，较上一日上涨35元；26年飞天茅台散瓶报1570元/瓶，较上一日 上涨20元；25年飞天茅台原箱报1600元/瓶，较上一日上涨35元；25年飞天茅台散瓶报1580元/瓶，较上一日上涨20元。此 外，23年飞天和24年飞天的原箱和散瓶批价也均不同程度上涨。 | 茅台飞天 | | | 2026年1月28日 (公众号: 今日酒价) | | --- | --- | --- | --- | | 品名 | 规格 | 昨日行情 | 今日行情 | | 2 26年飞天(原) | 53度/500ml | 1 ...

Core Viewpoint - Guizhou Moutai has introduced new distribution channel policies focusing on controlling supply and reducing non-standard product quantities to adapt to changing market conditions and consumer demand [3][5]. Group 1: Supply Control Measures - The company has decided to pause all unshipped orders for December and will not prioritize early sales for the 2026 sales plan, instead basing future shipments on actual sales performance [9]. - Non-standard product supplies will be adjusted, with a 30% reduction in 15-year aged and kilogram Moutai, a 50% reduction in the zodiac series, and a halt in the supply of rare Moutai [9]. - The pricing strategy for premium Moutai will be optimized, with potential price reductions based on market performance after the supply adjustments [9]. Group 2: Price Formation Mechanism - The wholesale price of Moutai can be viewed as a dynamic equilibrium function of supply and demand, with the factory's suggested retail price being a set figure rather than a market-driven price [8]. - The significant gap between the actual wholesale price and the official price (greater than 1499 yuan) has led to excess demand, which has been supplemented by older vintages of Moutai [10]. - As of December 2025, the wholesale price of Moutai had dropped to 1450 yuan, indicating a direct reflection of supply and demand dynamics, with the price sensitivity to demand fluctuations increasing [12]. Group 3: Market Dynamics and Future Outlook - The overall demand for liquor is declining in line with population growth, while supply is in a capacity release cycle, prompting the management to implement proactive measures to control prices [13]. - The effectiveness of Moutai's price control will depend on the execution of the proposed measures and the market's response to these changes [13]. - The company aims to focus resources on three core products: Moutai 1935, Flying Moutai, and Premium Moutai, targeting price segments of 600+ yuan, 1500+ yuan, and 2000+ yuan respectively [9].