Core Insights - The 618 shopping festival has concluded, leading to varied price movements in the white liquor market, with some products experiencing price increases while others continue to decline [1][2][3] Price Trends in Major Cities - In Guangzhou, among 21 sampled white liquor products, 9 saw a decrease in average retail price, while 8 experienced an increase, and 4 remained unchanged [2] - Notably, high-end products like Moutai and Guojiao 1573 have seen price drops, with Moutai's average retail price falling to approximately 2304 RMB, a decrease of about 100 RMB from the previous period [2][3] - In Shenzhen, Moutai's average retail price is reported at 2298.5 RMB, with a notable decline in several high-end products due to ongoing market pressures [7][10] - East Dongguan's market shows a mixed trend, with 9 products increasing in price and 5 decreasing, highlighting the volatility in high-end liquor pricing [12][13] Online vs. Offline Pricing - Online platforms, particularly instant retail channels, are showing lower prices compared to offline supermarkets, with Moutai priced at 2229 RMB online, which is about 75 RMB lower than the overall average [3][8] - The price discrepancies between online and offline channels are significant, with products like Junpin Xijiu and Qinghua Lang being sold for much lower prices online compared to their offline counterparts [3][8] Impact of Regulatory Changes - The ongoing "ban on alcohol" has significantly impacted sales, particularly in high-end segments, leading to price reductions as businesses attempt to stimulate demand [9][10] - The combination of the 618 festival and regulatory changes has created a challenging environment for liquor companies, as they navigate maintaining sales volume and pricing stability [1][17] Summary of Average Prices - The average prices for key products as of July 4th are as follows: - Moutai: 2367.62 RMB [19] - Wuliangye: 1010.27 RMB [19] - Junpin Xijiu: 833.17 RMB [20] - Qinghua Lang: 943.11 RMB [20] - Guojiao 1573: 993.42 RMB [20]

6 月 27 日，华润啤酒（ 0291.HK ）公告称，董事会主席侯孝海辞任，且不再担任董事会辖下财务 委员会主席、执行委员会以及购股权总务委员会各自之成员。 侯孝海离任的原因，白酒业内不少人的第一反应是，或与其主持高达 123 亿对价的金沙收购有关。 导 语："啤白协同"本不存在。但在"泡沫年代"，品牌与渠道的认知错位之下，它成为一个听上 去顺理成章的故事。 减不减值？ 曾主持"白酒史上最大并购案"的董事长，离开了。 以笔者在行业走访来看，从投资者到白酒从业者，从收购动议到运营至今，几乎没有人对该项目抱 有积极和正面的评价。 对比侯孝海离职，投资者更关心的是，接下来，收购金沙产生的 74 亿元商誉，是否会被计提减 值、从而影响华润啤酒业绩？ 图源：华润啤酒财报 业内人士告诉笔者，华润啤酒在去年秋天某交流会中表示：金沙不亏损不减值；如亏损，视现金流 而定。 不过，按照行业"潜规则"，新领导就任后，公司大概率会出现"业绩洗澡"。这样做，一来，能把"包 袱"甩给前任；二来，可降低就职前的业绩基数，便于在自己任期内做出高增长。 蒙牛（ 2319.HK ）上一任总裁卢敏离职后，高飞于 2024 年 3 月接任。蒙牛 ...

随着端午假期临近，部分白酒价格却持续走低。 近日，南都湾财社-酒水新消费指数课题组记者进行了第四十六期《湾区酒价》数据统计，从统计结果 来看，广州、深圳和东莞三地，大部分产品价格相比上一期持续走低，具体原因来看，其一是部分产品 渠道出现产品打折出售，其二是有的产品因本身销售渠道少，出现打折之后导致了零售均价有较大波 动。 另外，上期课题组推出的《西南酒价》，所报出的零售均价获得了较大关注。其中四川作为白酒产地， 大湾区作为酒水消费高地，这两个地区的酒水价格具有哪些方面的差异？根据统计对比后，课题组发 现，湾区的零售均价显著高于四川。 广州：端午临近，超三分之二产品价格持续下跌 虽然时间临近端午假期，但是在本期酒价统计中，广州有超过三分之二的产品价格对比上期出现下跌， 跌价幅度从数元到几十元不等。 其中，飞天茅台酒零售均价进一步下探，本期录得价格为2579.73元/瓶，受调研的部分终端该产品零售 价报出了2300元/瓶左右的价格，不过诸如永旺与华润ole，产品摆柜价依然高企，分别为2799元/瓶和 2999元/瓶，这一定程度拉高了飞天茅台的均价表现。 而在高端、次高端产品方面，古井贡酒的古20零售均价持续出现下 ...