Core Viewpoint - The price of Feitian Moutai has been experiencing fluctuations, with recent increases in wholesale prices, indicating a potential market adjustment and the company's intervention to stabilize prices [1][5][10]. Price Trends - As of June 28, 2025, the wholesale price for 25-year Feitian Moutai (53 degrees/500ml) is reported at 1920 RMB per bottle, an increase of 50 RMB from the previous day [1][2]. - The prices for various Moutai products have shown a general upward trend, with 24-year Feitian Moutai (original box) at 1920 RMB, and 23-year Feitian Moutai (original box) at 2010 RMB, both reflecting slight increases [1][2]. - However, some products, such as Xunfeng Feitian, have seen price declines, indicating a mixed market response [3]. Market Dynamics - The price adjustments are attributed to a combination of factors, including pressure on consumption, high inventory levels among distributors, and a shift in consumer preferences towards healthier options [8][10]. - The company has been proactive in managing supply, aiming for a 9% growth target while addressing market imbalances caused by seasonal demand fluctuations [10][11]. Company Strategy - Moutai has engaged in discussions with major e-commerce platforms like JD and Alibaba to enhance brand presence and manage pricing strategies effectively [6][10]. - The company is focusing on maintaining market order by limiting supply to certain channels and increasing market surveillance to prevent price violations [5][10]. Future Outlook - Analysts suggest that the current price adjustments may reshape the liquor consumption landscape, influenced by broader economic and demographic trends [8][10]. - Moutai's strategic measures, including inventory management and targeted marketing, are expected to support its market position and potentially lead to further share expansion [11].