Group 1 - The new product from Moutai, a commemorative edition of Guizhou Moutai liquor, sold out instantly on the iMoutai app, priced at 11,000 yuan per bottle [2] - The sales period for this product was from December 8 to December 10, with a limit of one bottle per registered user each day [2] - In August, another commemorative Moutai product was sold at 7,000 yuan per bottle and sold out in 2 minutes, later peaking at 13,500 yuan before declining [5] Group 2 - Moutai's overall pricing trend has been downward this year, with the 2025 vintage of 53-degree 500ml Moutai dropping below key price points [5] - As of December 8, the price of the 2025 vintage Moutai was reported at 1,530 yuan per bottle, down 5 yuan from the previous day [6] - The average inventory turnover days for the liquor industry reached 900 days, a 10% increase year-on-year, indicating growing inventory pressure [5] Group 3 - White liquor companies are implementing measures to alleviate channel pressure, such as Wuliangye's subsidy program for its core product [7] - Despite a generally low sentiment in the white liquor sector, some analysts suggest looking for bottoming opportunities, with expectations of improved sales performance [7] - Current market conditions are seen as a potential window for policy support, with a focus on Moutai's price stabilization signals [7]

Core Viewpoint - The launch of a new commemorative Guizhou Moutai liquor priced at 11,000 yuan per bottle sold out quickly, indicating strong demand despite a general decline in Moutai prices this year [1][4]. Group 1: Product Launch - The iMoutai app officially launched a new 1.1L Guizhou Moutai liquor (Panama International Exposition Gold Medal 110th Anniversary) on December 8, priced at 11,000 yuan per bottle, which sold out immediately [1]. - From December 8 to December 10, registered users could purchase one bottle per day during the specified time, with sales being first-come, first-served until sold out [1]. Group 2: Price Trends - In August, another commemorative Moutai liquor was sold for 7,000 yuan per bottle and sold out in 2 minutes, later reaching a peak price of 13,500 yuan before declining [4]. - Moutai prices have shown an overall downward trend this year, with the 2025 vintage 53-degree 500ml Moutai dropping below key price points, including 2,000 yuan, 1,900 yuan, and 1,800 yuan [4]. - As of December 8, the price of the 2025 vintage Moutai was reported at 1,530 yuan per bottle, down 5 yuan from the previous day [4][5]. Group 3: Market Conditions - The white liquor market is experiencing a contraction in demand, with inventory pressure increasing. The average inventory turnover days reached 900 days, a 10% year-on-year increase [4]. - During the 2025 Mid-Autumn and National Day holidays, demand for the white liquor industry decreased by 20% to 30%, with inventory increasing by 10% to 20% [4]. Group 4: Industry Response - White liquor companies are implementing various measures to alleviate channel operating pressures, such as Wuliangye offering rebates to distributors while maintaining the ex-factory price [6]. - Despite a generally low sentiment in the white liquor sector, some brokerages suggest looking for bottoming opportunities, with expectations of improved sales performance [6][7].

Core Viewpoint - The new commemorative product from Guizhou Moutai, a 53-degree, 1.1L bottle of liquor celebrating the 110th anniversary of the Panama International Exposition, was launched on the iMoutai App at a price of 11,000 yuan per bottle and sold out on its first day [1] Group 1 - The commemorative liquor is a limited-time and limited-quantity product, indicating its exclusivity [1] - The product will continue to be available for purchase on the iMoutai App at specific times over the next two days [1] - Industry insiders suggest that the expected contribution of this commemorative product to Guizhou Moutai's overall revenue will be limited [1]