Core Viewpoint - The launch of a limited edition commemorative liquor by Kweichow Moutai has sparked significant market interest, particularly among resellers, despite a generally sluggish white liquor market this year [1][6]. Group 1: Product Launch and Sales - Kweichow Moutai's iMoutai APP released a commemorative liquor priced at 7000 yuan, with a limited quantity of 25,568 bottles, each uniquely coded [1]. - The product sold out within minutes, with smaller coded bottles disappearing in just one minute, indicating high demand [2]. - The total potential sales revenue from the product, if all bottles are sold, could reach 1.8 billion yuan [9]. Group 2: Market Dynamics and Pricing - Initial resale prices for the commemorative liquor were significantly marked up, with sellers hoping to sell at 1000 to 2000 yuan above the original price shortly after launch [6]. - However, by noon on the launch day, many sellers had to lower their price expectations, with some offering to sell at just 500 yuan above the original price, and some even buying back at prices below the original [6][9]. - The overall white liquor market is experiencing price declines, with the wholesale price of the flagship product, Flying Moutai, dropping from around 2200 yuan to 1875 yuan [13]. Group 3: Investment Potential - The commemorative liquor is viewed as having significant investment potential and resale value, especially in the context of declining prices for other Moutai products [13]. - There are concerns among investors regarding the sustainability of the premium pricing for the commemorative liquor amid a broader industry downturn [14].

Core Viewpoint - The launch of a limited edition commemorative liquor by Kweichow Moutai has sparked significant market interest, particularly among resellers, despite a generally sluggish white liquor market this year [2][10]. Group 1: Product Launch and Sales - Kweichow Moutai's iMoutai APP released a commemorative liquor priced at 7,000 yuan, with a limited quantity of 25,568 bottles, each uniquely coded [2][4]. - The product is designed to commemorate the 70th anniversary of the "Five-Star" trademark, with each bottle's code potentially corresponding to personal significant dates, enhancing its collectible value [2][4]. - The product sold out rapidly, with smaller coded bottles selling out within one minute, indicating high demand [4][10]. Group 2: Market Dynamics and Resale - Initial resale prices on secondary platforms reached a premium of 800 yuan above the original price shortly after launch, but many sellers began to lower their price expectations within hours [10][12]. - By noon on the launch day, some sellers were willing to sell at prices only 500 yuan above the original price, and some resellers started buying at prices below the original 7,000 yuan [10][12]. Group 3: Financial Impact - If all 25,568 bottles are sold, the total revenue generated could reach 1.8 billion yuan, although this represents a small contribution to Kweichow Moutai's overall revenue, which was 174.144 billion yuan last year [12][13]. - The current market conditions for Moutai products, including fluctuating prices for the flagship Flying Moutai, suggest that the commemorative liquor may be one of the few products with investment potential and price appreciation in the current market [15][16].