Flying Maotai, plummeting!
Nanchang Evening News
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Too sudden! The 36-year-old well-known anchor was diagnosed! On April 8, Kweichow Moutai once fell more than 3% in intraday trading, and finally closed down by 2.82%. On April 9, Kweichow Moutai continued to fall. At the same time, the news that the wholesale price (market circulation price) of bulk bottles of Feitian Moutai fell below 2600 yuan in 2024 also attracted market attention.
Did Feitian Maotai fall?
Regarding the rumor that the price of 53-degree/500-ml Feitian Maotai was reduced, the reporter asked a number of liquor recyclers, and all the answers were "down".
"(Loose bottles) were still 2460 yuan/bottle in the morning, and now they are 2400 yuan/bottle. The market is too fast." On the evening of the 8 th, a liquor recycler told Zhongxin Finance, "If you can’t move, you can’t afford the recycling price."
Another liquor recycler replied that Moutai in different years has been falling recently: "Maotai is now falling dozens a day." The lowest quotation given by the recycler is 2350 yuan/bottle.
Data Map: A supermarket in Guizhou Moutai counter. China News Service reporter Lu Mingshe
In addition to the downward trend in the secondary market price, at the sales terminal, the sales price of Maotai is also lower.
The reporter visited a number of liquor stores in Beijing, and the quotations of some liquor stores dropped from 3,280 yuan/bottle to 3,080 yuan/bottle, while those of some liquor stores dropped from 2,980 yuan/bottle to 2,850 yuan/bottle, with the drop ranging from 150-200 yuan, and the lowest quotation was 2,750 yuan/bottle.
"The price of Maotai in liquor has changed relatively quickly. Yesterday it was 3,100 and 3,200, and today it is 2,800 and 2,900." Some wine companies told reporters.
In addition, some liquor recyclers said that Wuliangye may also cut prices. At present, the recycling price of puwu in bulk bottles is between 800-850 yuan/bottle. However, at the sales terminal, the price of Wuliangye did not fall. Some liquor wholesalers said that due to the previous price increase of Wuliangye, the wholesale price of Wuliangye bulk bottles was slightly raised to 990 yuan/bottle.
On April 9, Kweichow Moutai continued to fall, closing at 1662.22 yuan, down 0.27%.
Why did it fall?
April was originally the off-season of liquor sales, so it seems not unusual for liquor prices to go down. However, in the eyes of many recyclers, the price drop of Maotai this time is unusual. "This is a plunge, not just because of the off-season. If there is wine, either sell it quickly or wait until the Mid-Autumn Festival to see the market. "
The reporter noted that it is generally believed in the industry that the heavy volume of 375ml Xunfeng wine has had an impact on the market of Feitian Maotai.
On December 31, 2023, Maotai officially launched 375ml "Guizhou Maotai Xunfeng Liquor". Maotai officially claimed that this is a strategic product independently developed by Maotai. On March 28th this year, WeChat official account, the WeChat of Xunfeng Digital World, announced that from now on, users who hold relevant materials in the APP can follow the corresponding steps to synthesize the corresponding materials and complete the exercise right, and can complete the delivery of 375ml Kweichow Moutai (Xunfeng) in the online store.
On December 31, 2023, Maotai officially launched 375ml of "Kweichow Moutai Xunfeng Liquor". Screenshot from Kweichow Moutai official WeChat WeChat official account.
Cai Xuefei, a wine commentator and analyst, said: "The decline in the price of famous wines is not only due to the normal off-season of the market, but also related to factors such as the large social inventory in the early stage. In addition, the concentration of Feitian Maotai by individual sellers with large inventory of Maotai and the concentration of 375ml Maotai Xiefeng liquor caused panic in the market, which also caused a short-term decline in the price of Maotai. As a whole, the short-term supply in the market exceeded the demand, which naturally brought price fluctuations. "
Cai Xuefei believes that as a representative of high-end famous liquor, the price decline of Moutai will inevitably lead to the decline of the overall high-end product price in the short term, further squeezing the high-end liquor consumption market and intensifying the competition in the high-end liquor market.
On the afternoon of April 8, insiders of Kweichow Moutai told the media that the planned amount of Xunfeng liquor accounts for a small proportion of the annual amount of Moutai, which will not affect the existing price system of Moutai. At present, the sales of Moutai are in good condition.
Will the price of Maotai warm up?
As for the drop in the price of Maotai, some people think that even if it rises later, it will be difficult to reach the original height. So, will the price of Maotai warm up?
Cai Xuefei believes that although the price of Maotai has fallen in the short term, it will remain strong in the future. "From a rational point of view, the people’s livelihood needs of Maotai in the banquet, business and gift markets have not changed. With the continuous recovery of social economy and the deepening of some marketing measures of Maotai enterprises, the demand of Feitian Maotai will also enter a recovery cycle in the third quarter, thus stabilizing and rebounding, and the overall price is still in an upward trend."
He pointed out that at present, in 2024, the whole wine industry still faces problems such as high inventory, upside-down price and insufficient demand. The market needs time to digest the capacity expanded in the past few years, and the price needs time to repair, which will still lead to 2024. It will be a difficult year.
Kweichow Moutai displayed in liquor stores. Zuo Yuqing photo
"But on the positive side, wine is a folk product in China. Maotai Wuliangye and other famous wines are just needed in banquets, gifts and other markets. The characteristics of this category have not changed. With the continuous improvement of industrial concentration and the trend of consumption upgrading, these famous wines still have good development prospects."
This month, Kweichow Moutai announced its 2023 financial report. The data shows that in 2023, Kweichow Moutai achieved a total operating income of 150.56 billion yuan, a year-on-year increase of 18.04%; The net profit attributable to shareholders of listed companies was 74.734 billion yuan, a year-on-year increase of 19.16%.
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Original title: "Flying Maotai, plummeting! 》
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