BUSINESS

Moutai Sales, Prices Climb Ahead of Lunar New Year

Published: Feb. 14, 2026 4:30 p.m. GMT+8

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The retail prices of Feitian Moutai increased across the board on Feb. 8, driven by strong demand ahead of the Spring Festival. Photo: VCG

Kweichow Moutai Co. Ltd.’s (600519.SH) sales and prices rose ahead of the Lunar New Year holiday, defying a broader slowdown in China’s liquor market.

Sales of the luxury baijiu brand jumped 32.3% from Jan. 25 to Tuesday compared to the preceding period, according to digital payment service provider Shouqianba. Wholesale prices for the flagship Feitian Moutai also entered an upward channel starting Monday, with the 2026 vintage rising from 1,680 yuan ($243) per bottle to 1,715 yuan on Friday, before settling at 1,690 yuan on Saturday, according to liquor pricing platform Jinri Jiujia.

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Kweichow Moutai's sales jumped 32.3% before Lunar New Year, with Feitian Moutai wholesale prices rising up to 1,715 yuan per bottle before settling at 1,690 yuan.
Top-tier brands like Moutai are gaining market share despite an industry slowdown; dealer shipments hit over 30% of annual targets.
Overall liquor market shipments fell year-on-year, with retail sales expected to drop 10-15% before Spring Festival, underscoring market polarization.

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Who’s Who

Kweichow Moutai Co. Ltd.: Kweichow Moutai Co. Ltd. saw a sales increase of 32.3% ahead of the Lunar New Year holiday. Its flagship Feitian Moutai's wholesale prices also rose. The company is implementing market-oriented price reforms, selling 53-degree Feitian Moutai at 1,499 yuan via its iMoutai digital platform, which has exceeded market expectations for sales.

Shouqianba: Shouqianba is a digital payment service provider in China. They reported that sales of Kweichow Moutai, a luxury baijiu brand, increased by 32.3% from January 25 to a recent Tuesday, compared to the period before that. Shouqianba also showed that sales for other major liquor brands like Fen Wine and Wuliangye also grew before the Spring Festival.

Jinri Jiujia: Jinri Jiujia is a liquor pricing platform. According to the article, it reported that wholesale prices for Feitian Moutai, a luxury baijiu brand, saw an upward trend before the Lunar New Year holiday. Specifically, the 2026 vintage of Feitian Moutai rose from 1,680 yuan to 1,715 yuan per bottle, before settling at 1,690 yuan.

Shanxi Xinghuacun Fen Wine Factory Co. Ltd.: Shanxi Xinghuacun Fen Wine Factory Co. Ltd. (600809.SH) is a Chinese liquor company. Its sales grew by 7.2% in the three weeks leading up to the Spring Festival, indicating a pre-holiday sales bump concentrated among top brands, despite a broader slowdown in China's liquor market.

Wuliangye Yibin Co. Ltd.: Wuliangye Yibin Co. Ltd. (000858.SZ) is a prominent Chinese liquor company. The article notes a significant 55.2% jump in its sales during the three weeks before the Spring Festival, contrasting with a broader slowdown in China's liquor market. This indicates Wuliangye's strong performance, alongside other top brands like Kweichow Moutai, in a polarizing consumer market.

Sichuan Jiannanchun Group Co. Ltd.: Sichuan Jiannanchun Group Co. Ltd. experienced a significant surge in sales, increasing by 144% in the three weeks leading up to the Spring Festival, compared to the preceding period. This data, collected by digital payment service provider Shouqianba, highlights its strong performance alongside other top-tier brands during the pre-holiday season.

Niulanshan: Niulanshan, a Chinese liquor brand, experienced a double-digit decline in sales in the three weeks leading up to the Spring Festival, contrasting with the growth seen by top-tier brands like Kweichow Moutai. This indicates a growing polarization in China's liquor market, where premium brands are outperforming while others face declines.

Luzhou Laojiao: Luzhou Laojiao, a Chinese liquor brand, experienced a double-digit decline in sales in the three weeks leading up to the Spring Festival, contrasting with the growth seen by top-tier brands like Moutai and Wuliangye. This highlights a broader trend of market polarization in China's liquor industry, where some brands are struggling amidst reduced business spending.

China Merchants Securities Co. Ltd.: China Merchants Securities Co. Ltd. conducted a survey indicating an overall slowdown in industry shipments, with distilleries no longer pursuing aggressive early-year sales targets. Despite this trend, prominent producers like Moutai and Wuliangye are outperforming the broader market, while second-tier premium brands face increasing pressure, highlighting a growing polarization within the sector.

AI generated, for reference only