Shanghai, Feb 2, 2026, 03:55 GMT+8 — Premarket update
- On Jan. 30, shares ended at 1,401 yuan, slipping 2.55%
- Wholesale prices for Feitian’s “Flying Fairy” surged over 100 yuan per bottle
- Attention now turns to Lunar New Year demand and the upcoming Spring Festival trading break later this month
Wholesale prices for Kweichow Moutai’s flagship Feitian (“Flying Fairy”) baijiu surged by over 100 yuan per bottle late last week, according to a Chinese financial outlet. The jump has thrust the liquor maker back into traders’ focus ahead of Monday’s open.
For this stock, the dealer quote is nearly as crucial as the tape itself. It serves as an unofficial wholesale benchmark, closely monitored to gauge demand and see if dealers can maintain a premium heading into the holiday season.
Moutai dominates China’s consumer sector and usually leads the pack among listed baijiu makers — baijiu being a potent local spirit. Following a prolonged slide in the group, even minor changes in channel prices have started to sway shares.
According to Investing.com, the stock ended Jan. 30 at 1,401 yuan, slipping 2.55% after jumping 8.61% the day before. It gained roughly 4.8% over the week. The next earnings report is set for April 17. (Investing)
Sina Finance, referencing third-party price trackers, reported the 2026 vintage case-packed Feitian at 1,770 yuan per bottle on Jan. 30, a rise of 160 yuan. Single bottles were quoted at 1,700 yuan, while Wind showed a slightly higher 1,710 yuan. The report drew on notes from CITIC Securities and China Merchants Securities, highlighting low dealer inventory and early holiday stocking. Demand, however, remained soft across several provinces. (Sina Finance)
Moutai has ramped up direct sales, pushing more stock through channels like its iMaotai app. The app offers a 53% alcohol, 500-ml bottle priced at 1,499 yuan, which often sells out fast, according to Securities Times. At a dealer meeting, Chairman Chen Hua emphasized focusing on “where to buy” and “who will buy” as the company develops a blend of online and offline sales. (Stcn)
The stock has become unusually reactive to short-term price moves under that strategy. A quick jump in the wholesale quote can boost sentiment sharply; a stall tends to drag it down just as fast.
Traders are focusing on three things: daily wholesale sales reports, distributor inventories, and whether gift buying remains strong in smaller cities. Usually, the earliest clues come directly from dealers rather than official filings.
The wholesale quote isn’t an official price and can jump around on light trading and short-term bets. If holiday demand falls short — or if there’s a clampdown on extravagant business entertaining — the recent uptick in price trackers could unwind fast.
The calendar squeezes February’s trading days. According to an official public holiday schedule from China Briefing, the Spring Festival break lasts from Feb. 15 to Feb. 23, with make-up workdays set for Feb. 14 and Feb. 28. (China Briefing)
CFFEX announced it will shut down its market from Feb. 15 to 23, reopening on Feb. 24. This serves as a signal that liquidity may thin out ahead of the holiday. (China Financial Futures Exchange)
For Moutai traders, the key date is the Lunar New Year on Feb. 17. That’s when gifting demand hits its peak, often pushing wholesale prices to shift first. (Royal Museums Greenwich)
