Core Viewpoint - The "Wine Price Reference" by Sina Finance has launched, providing real-time data on the retail prices of major Chinese liquor brands, indicating a structurally differentiated price trend in the market as of February 13, 2026, with a slight overall increase in prices [1][8]. Price Trends - The average retail price of the top ten liquor products is 9,189 yuan, reflecting a minor increase of 3 yuan from the previous day [1][8]. - Among the top ten products, four saw price increases while six experienced declines, showcasing significant price differentiation [4][10]. Specific Product Price Changes - Notable price increases include: - Guizhou Moutai (Flying Moutai) rose by 32 yuan to 1,790 yuan per bottle, reaching a one-month high due to tight supply and limited availability [4][10]. - Ancient Well Tribute Wine and Crystal Jian Nan Chun both increased by 3 yuan, while Qinghua Fen 20 saw a slight rise of 1 yuan [4][10]. - Price declines were observed in: - Qinghua Lang dropped by 12 yuan, marking a significant three-day decline [4][10]. - Boutique Moutai decreased by 9 yuan, following a peak price in the previous 30 days [4][10]. - Other declines included Wuliangye and Guojiao 1573, which fell by 7 yuan and 5 yuan respectively, while Yanghe Dream Blue M6+ and Xijiu Junpin decreased by 2 yuan and 1 yuan [4][10]. Market Analysis - The data for "Wine Price Reference" is sourced from approximately 200 collection points across various regions, including designated distributors and major retail platforms, aiming to provide an objective and traceable market price reference [5][11]. - A recent report from招商证券 indicates a double-digit decline in liquor sales leading up to the Spring Festival, with Guizhou Moutai showing strong performance and a price rebound in the 1,600 to 1,700 yuan range, while other brands like Luzhou Laojiao and Shanxi Fenjiu experienced varying degrees of sales decline [6][11].

Group 1 - The core viewpoint of the article indicates that the retail prices of the top ten Chinese liquor products have slightly weakened, with a total price of 9183 yuan, down 32 yuan from the previous day, marking a recent low [1] - Among the top ten products, six saw price declines, three increased, and one remained stable, indicating a mixed market performance [1] - The price of Xijiu Junpin increased by 7 yuan per bottle, while Guizhou Moutai Feitian rose by 6 yuan per bottle, driven by pre-holiday consumption and channel replenishment demand [1] Group 2 - The data for liquor prices is sourced from approximately 200 collection points across various regions, aiming to provide an objective and traceable market price for well-known Chinese liquors [2] - The introduction of new sales channels for Guizhou Moutai Feitian and boutique Moutai has begun to show a magnetic influence on their market retail prices [2] - Dongwu Securities maintains a "buy" rating for Shanxi Fenjiu, highlighting its steady national expansion and significant growth potential in the clear aroma liquor market [2] Group 3 - The current retail prices for key products include Guizhou Moutai Feitian at 1757 yuan (up 6 yuan) and boutique Moutai at 2400 yuan (down 6 yuan) [4] - Other notable prices include: Qinghua Fen 20 at 385 yuan (down 1 yuan), Guojiao 1573 at 886 yuan (down 11 yuan), and Yanghe Dream Blue M6+ at 630 yuan (down 13 yuan) [5] - The price of Wuliangye Pu 58 remains stable compared to the previous day [1]

Core Insights - The Chinese liquor market is experiencing a significant price decline, with the average retail price of the top ten liquor products dropping to 9048 yuan, marking a new low since the expansion of the list on November 18, down 38 yuan from the previous day and 2.6% from the peak of 9291 yuan on November 25 [1][2] Price Trends - The market shows a downward trend with most products experiencing price drops, including: - Crystal Jian Nan Chun down 11 yuan per bottle - Premium Moutai down 8 yuan per bottle - Wuliangye down 7 yuan per bottle - Other notable declines include Qinghua Fen down 5 yuan and Flying Moutai down 4 yuan [2][5][6] - Only a few products have seen price increases, such as Qinghua Lang up 4 yuan and Guojiao 1573 up 1 yuan [2][6] Market Analysis - According to CITIC Securities, the food and beverage sector is currently undervalued, with recommendations to focus on liquor and specific mass-market products, anticipating better performance from the mass-market segment compared to the overall liquor market [3] - The report suggests that companies like Gujing Gongjiu, Yingjia Gongjiu, and Zhenjiu Lidu are strong candidates for investment due to their solid brand support and operational capabilities [3]

Core Viewpoint - The Chinese liquor market is experiencing a decline in retail prices for major products, ending a brief stabilization period, with the average price of the top ten products dropping to 9148 yuan, a decrease of 12 yuan from the previous day, marking a new low in five days [1]. Price Trends - The market shows significant structural differentiation, with some high-end brands experiencing notable price adjustments. For instance, the price of Wuliangye's Pu Wuliangye 58th generation dropped by 26 yuan per bottle, falling from 1019 yuan to 900 yuan, marking the first decline in ten years [2]. - Other brands such as Guojiao 1573 and Moutai also saw price decreases of 10 yuan and 7 yuan per bottle, respectively. Conversely, Qinghualang's price increased by 14 yuan per bottle, indicating a strong performance [2]. Market Sentiment - Despite a 3.6% decline in the food and beverage sector index since December, which underperformed the CSI 300 index by approximately 5 percentage points, institutional investors remain optimistic. In December, 49 institutions conducted 222 "buy" ratings, covering 185 stocks, with a net inflow of 12.09 billion yuan into the food and beverage sector [2].

Core Viewpoint - The white liquor market has shown a strong rebound in retail prices for the top ten products, ending a period of continuous decline, with the total price for a packaged set of these products reaching 9177 yuan, an increase of 32 yuan from the previous day, indicating a return to an upward trend in the market [1]. Price Trends - The overall market is experiencing a broad increase, with most products stabilizing and recovering in price [1]. - Yanghe Dream Blue M6+ leads the market with an increase of 11 yuan per bottle [1]. - Qinghua Lang continues its strong performance with a price increase of 10 yuan per bottle, reaching a recent high [1]. - The prices of Wuliangye Pu 58th generation and Guojiao 1573 have rebounded by 9 yuan per bottle each [1]. - Other notable price increases include Shuijing Jian Nan Chun up by 7 yuan and Qinghua Fen 20 up by 3 yuan [1]. - The only products showing a decline are Xijiu Junpin, which fell by 10 yuan per bottle, and Gujing Gong Gu 20 and Feitian Moutai, which decreased by 4 yuan per bottle [1][3][4]. Data Sources - The price data is sourced from approximately 200 collection points across various regions, including designated distributors, social distributors, mainstream e-commerce platforms, and retail outlets, ensuring an objective and traceable representation of the market [1][4].