Shanghai, Jan 20, 2026, 04:41 CST — Premarket
- Kweichow Moutai Class A shares closed down 0.43% at 1,376 yuan.
- The company warned consumers about counterfeit links advertising Feitian Moutai at 1,499 yuan.
- With Lunar New Year demand looming, traders are keeping a close eye on baijiu price quotes.
Kweichow Moutai has stated it hasn’t given any permission for “enterprise direct supply” access or links tied to 1,499-yuan Feitian Moutai subscriptions. The company warned such offers could mislead buyers and carry fraud risks. It’s working with authorities and plans to pursue legal measures if needed. 1
Moutai’s Class A shares on the Shanghai exchange (600519.SS) ended at 1,376 yuan, down 0.43%. The Shanghai benchmark rose 0.29%, and the liquor sector gained 0.74%. Still, Wuliangye Yibin, Shanxi Fenjiu, and Luzhou Laojiao all slipped, according to a Beijing Business Today report on Eastmoney. 2
Timing matters. Investors are watching closely to determine whether premium consumption remains robust heading into the vital pre-holiday stocking season.
Moutai, the benchmark for baijiu, China’s grain spirit, often triggers sharp swings in sentiment over the smallest changes in pricing and distribution.
Sina Finance’s daily “Wine Price Neican” tracker showed the combined price of 10 major baijiu brands fell by 35 yuan to 8,871 yuan on Jan. 19. Eight out of the ten brands registered losses that day. Feitian Moutai dropped 3 yuan, while iMoutai’s official sales price of 1,499 yuan per bottle is starting to drag down the market average. 3
Moutai continues to hold a top spot on the A-share price leaderboard, staying prominent despite smaller gains. On Jan. 19, Securities Times noted that a record 222 A-shares ended the day above 100 yuan. Moutai’s closing price of 1,376 yuan ranked just behind Cambricon-U. 4
The scam alert underscores the chaos that erupts in trading official allocations once fake links circulate. Such confusion warps price signals and makes it harder to assess channel control from the outside.
Price pressure continues to dominate investor sentiment. According to Securities Daily, third-party quotes show Feitian Moutai’s loose-bottle wholesale price at 1,540 yuan per bottle, down about 31% since early 2025. Cai Xuefei from the China Liquor Culture Brand Research Institute blamed weak consumption for the sector’s struggles. Zhu Danpeng, vice chairman of the Guangdong Food Safety Promotion Association, described baijiu price cuts as an “irreversible” trend. On another note, Shandong association official Ouyang Qianli urged producers to prioritize value-for-money products and lean more on digital tools for channel management. 5
Traders are eyeing whether Moutai will follow the sector’s lead after the open or fall further behind, especially if daily price quotes keep dropping. With light volume, the stock frequently serves as a barometer for consumer confidence.
Fresh comments from firms about sales contracts, distribution policies, or clampdowns on false promotions can rapidly alter short-term demand projections. Policy moves targeting business entertainment spending often ripple through the industry.
The next key date is the Spring Festival holiday on Feb. 17, which usually drives a spike in liquor sales thanks to gifting and banquets. Investors are watching distributor orders and daily price trackers closely ahead of the holiday to see if demand for premium baijiu is stabilizing. 6
