Data collected over the past 24 hours shows that on September 7, the average terminal retail prices of 11 major Chinese baijiu products saw six increases and five decreases, with the rising items holding a slight edge as the market displayed notable divergence.

On the upside, Fine Moutai gained 2 yuan to 2,458 yuan, snapping a two-day losing streak. Wuliangye Pu Wu Eighth Generation rose 4 yuan to 820 yuan, recording a three-day winning streak and reaching its highest level this month. Wuliangye 1618 added 2 yuan to 830 yuan, quickly reclaiming the round-number threshold it lost the previous day. Qinghua Fenjiu 20 ticked up 1 yuan to 390 yuan, steadying itself after three consecutive declines. Guojiao 1573 edged up 1 yuan to 886 yuan, with prices undergoing a moderate recovery following the prior day's technical pullback. Shuijing Jiannanchun climbed 4 yuan to 411 yuan, posting a second straight gain to hit a near-one-month high.

On the downside, Feitian Moutai slipped 3 yuan to 1,790 yuan, marking a third consecutive day of modest declines. Yanghe Dream Blue M6+ fell 4 yuan to 614 yuan, extending its two-day losing streak after pulling back from monthly highs. Gujing Gong Gu 20 dropped 5 yuan to 533 yuan, accelerating its decline after an M-shaped fluctuation pattern. Xijiu Junpin decreased 3 yuan to 641 yuan, continuing to slide for a second session from 30-day highs. Qinghua Lang weakened 4 yuan to 689 yuan, falling below the 690 yuan price level for two consecutive days.

The combined terminal retail value of all 11 products edged lower today. While the number of rising items slightly outweighed decliners, the losers experienced deeper percentage drops. By segment, high-end and sub-high-end baijiu showed clear divergence, with some previously strong products continuing to retreat.

If one bottle of each of the 11 major products were packaged and sold together, the total price today would be 10,062 yuan, down 5 yuan from yesterday, marking a second consecutive day of declines and hitting a four-day low.

Daily data for the baijiu pricing reference is sourced from approximately 200 collection points reasonably distributed across major regions nationwide, including but not limited to distillery-designated distributors, social distributors, e-commerce platforms, and retail outlets. The raw sample data reflects actual transaction-based terminal retail prices processed over the past 24 hours at each location, aiming to provide objective, scientific, and fully traceable market pricing for major baijiu products.

With the official iMoutai platform launching sales of Feitian Moutai at 1,499 yuan per bottle on New Year's Day (raised to 1,539 yuan on March 31, and further to 1,639 yuan on July 18), and Fine Moutai at 2,299 yuan per bottle on January 9 (raised to 2,359 yuan on May 16), the magnetic influence of this new sales channel on the average terminal retail prices of these two products is gradually becoming evident. Daily price data follows a trading-volume-weighted calculation rule, and measurable pricing has been incorporated into the terminal retail price calculations for both products.

In other industry news, the food and beverage research team at Guojin Securities published a weekly thematic report suggesting that the baijiu industry's channel sales, pricing dynamics, and apparent pressure are all transitioning from low levels toward an improvement phase, with a quarter-over-quarter fundamental recovery trend in the sector worthy of attention. The report notes that market expectations for baijiu fundamentals remain relatively cautious. Kweichow Moutai Co.,Ltd. (SH: 600519) is valued at approximately 20 times price-to-earnings, while other leading distillers trade at around 15 times PE, indicating that industry prosperity and cautious recovery expectations have been largely priced in. Medium-term returns are more likely to depend on earnings per share growth and industry profitability recovery.

Regarding stock selection, the report recommends adopting a medium-to-long-term "EPSxPE" pricing framework, focusing on distillers with differentiated competitive advantages. This includes high-end brands with strong brand power and deep moats such as Kweichow Moutai Co.,Ltd. (SH: 600519) and Wuliangye, as well as regional leaders benefiting from resilient mass-market demand and township consumption upgrades. Additionally, attention is directed toward distillers with pro-cyclical flexibility including Gujing Gongjiu, Shanxi Xinghuacun Fenjiu, and Luzhou Laojiao, along with flexible targets driven by new products, new channels, or new business model catalysts.

Click to access the baijiu pricing reference for real market prices.