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飞天系列全线大跌,茅台股价跌超3%,成交额破100亿

The Feitian series all experienced a large drop, with Moutai's stock price falling more than 3% and trading volume exceeding 10 billion yuan.

wallstreetcn ·  Jun 11 03:32

On Tuesday, A-share baijiu sector fell across the board, with Kweichow Moutai dropping more than 3% in the day, with a turnover exceeding 10 billion yuan. Kweichow Moutai has fallen more than 9% this year.

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Earlier, the Securities Times reported that the Feitian series plummeted on the Dragon Boat Festival. According to information released by the Futubull platform, the original boxes fell by 5-10 yuan/bottle from 2023 to 2024, and loose bottles fell by 40 yuan/bottle in 2024. The Chinese zodiac series, the rabbit, tiger, and pig years fell by 30-50 yuan/bottle, while the rat and monkey years plummeted by 100-200 yuan/bottle. The 30-year-old series fell by 100 yuan/bottle.

The Securities Times quoted sources in the industry as saying that the "scalping circle" has recently bounced back collectively. Due to the recent substantial price cuts of Moutai wine and some of the rules of e-commerce, they have launched a counterattack one after another. In a short period of time, tens of thousands of scalpers have applied for invoicing for all wine stores. Some scalpers said in WeChat groups:"Let e-commerce break our rice bowl, then we will break their pot." There are even rumors in the market that the "scalping gang" is on the run.

Behind the "scalping on the run" and the sharp drop in stock prices, there is a concern in the market about the true sales volume of high-end baijiu.

Guotai Junan Securities believes that due to weak demand for high-end products, the delivery structure and rhythm of Moutai, and other reasons, the batch price of Moutai is still fluctuating downward, and the market is worried about the phenomenon of financial attribute backlash, that is, the expected price cut not only weakens investment demand but also prompts some stored products to be released on the market.

Guosen Securities also pointed out in a report that the decline in industry demand has led to a slight decline in the gold attribute of Moutai and there is greater batch price pressure.

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Against the background of consumer downgrading, the Dragon Boat Festival holiday continued the "sinking" and "price drop" trend of the May Day holiday. Huachuang Securities pointed out that first, the degree of recovery of per capita tourism expenditure is still not as good as that of 2019 (recovered to 89.5%); second, third-tier or lower cities continue to become new growth points for tourism, with higher platform order heat than some first-tier and new first-tier cities. Third, domestic and international airfare and hotel prices are lower than those during the May Day holiday or the same period last year.

Kweichow Moutai responded to the price cut by stating that the sales situation of Moutai is good. From the perspective of its impact on performance, Moutai has maintained a strong performance during the price cut. In the first quarter, Kweichow Moutai's revenue and net income both maintained double-digit growth, with a very impressive performance.

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