Core Viewpoint - The article discusses the significant decline in the price of Moutai liquor, transitioning from an investment asset to a consumer product, with many consumers reassessing its intrinsic value [3][10]. Price Decline and Market Reaction - Newly launched cultural series products and the 53-degree Flying Moutai have experienced drastic price drops, with the "Yellow Small Stream Dinner" series falling 30%-40% from its launch price of 2499 yuan to below 1700 yuan [4][5]. - The 375ml version of the "Walk into Five Countries" series has seen its price drop from 1619 yuan to 1050 yuan, while the 700ml version has decreased from 3599 yuan to around 2200 yuan, marking a nearly 40% decline [4][5]. - The price of the 53-degree Flying Moutai has fallen from approximately 2000 yuan at the beginning of the year to around 1600 yuan, a drop of over 50% from its peak of 3500 yuan at the end of 2022 [5][8]. Shift in Consumer Behavior - Consumers are now more cautious and rational in their purchasing decisions, with many no longer hoarding Moutai as an investment, reflecting a shift towards its consumption value [7][10]. - The trend of bulk purchasing for investment purposes has diminished, with consumers typically buying only one or two bottles for personal use [7][8]. Industry Dynamics - The white liquor industry is undergoing a cyclical adjustment, entering a phase of stock competition, with Moutai's strategy focusing on long-term stability and adapting to changing consumer habits [9]. - The decline in Moutai prices has not significantly affected its stock price, indicating a potential disconnect between market sentiment and the company's long-term value [9]. Future Outlook - Analysts suggest that Moutai may continue to experience price fluctuations in the short term, but there is potential for stabilization at current price levels due to the brand's inherent value and demand in gift and banquet markets [9][10].

Core Viewpoint - The company has paused the shipment of its 1499 Flying Moutai to guide market demand and create space for other products, rather than due to price drops or sales volume concerns [1][5]. Market Situation - The 1499 Flying Moutai has become extremely popular among consumers, often selling out within seconds on e-commerce platforms, leading to an over-concentration of demand that suppresses sales of other product lines [3][5]. - Other series like Moutai 1935 and the "Walk into Five Nations" series are struggling to gain consumer attention due to the dominance of the Flying Moutai [3]. Strategic Intent - The company's decision to pause the shipment is aimed at restructuring the market dynamics and reducing reliance on the Flying series, thereby enhancing the scarcity perception of the product [5][7]. - By creating a sense of scarcity, the company can boost sales of other high-end products and increase overall profit margins [5][7]. Brand Positioning - This strategy is part of a broader effort to elevate the brand's high-end positioning, shifting consumer focus towards relatively higher-priced new products [7]. - The temporary halt in Flying Moutai shipments is seen as a clever marketing maneuver to enhance brand image and consumer interest in other premium offerings [7]. Long-term Viability - While the strategy may yield short-term benefits, its long-term effectiveness in balancing demand across different product lines remains uncertain, as consumer preferences can be unpredictable [8]. - The company’s ability to navigate between short-term control and long-term strategy will be crucial for sustaining brand value [8].