Guizhou Maotai recently started selling its 53% alcohol 500ml Feitian Maotai on its official online sales platform for the first time. Priced at 1499 yuan (RMB) per bottle, the product was quickly snatched up upon release, with multiple restocks selling out within a short period of time. Last year, the wholesale price of Feitian Maotai was around 2320 yuan per bottle at the beginning of the year and dropped to 1499 yuan by the end of the year, signaling challenges faced by Maotai and the Chinese liquor market.
On January 1, 2026, at 9:00 am, the 500ml 53% Feitian Maotai was officially launched on the official self-operated platform “iMaotai” and immediately became a hot item. Maotai adopted a staggered release approach, replenishing every 5 minutes, with a purchase limit of 12 bottles per person per day, priced at 1499 yuan per bottle for the 2026 vintage.
This release of the 500ml 53% Feitian Maotai featured different prices for different vintages. Prices ranged from 2649 yuan to 1909 yuan for the vintages from 2019 to 2024, demonstrating the trend of “the older, the higher the price.”
Many netizens shared their purchasing experiences on social media on the first day of the new year. However, many consumers who tried for the first time were unsuccessful in their attempts.
By 9:30 on January 1st, the product on iMaotai had been completely sold out for the day, according to a report by the Beijing News. Mr. Liu from Beijing went to the Beijing Maotai self-operated store on the afternoon of January 1 to exchange for Maotai liquor. He learned through video that the 500ml Feitian Maotai was available on iMaotai, and successfully placed an order for 12 bottles at 9:16 am after three rounds of restocking.
In terms of pricing, there were differences among different series and price points within the Maotai product range. For instance, the 500ml 53% Feitian Maotai under the “Tower Base” series was priced 800 yuan lower than the “Tower Waist” products and 1000-1200 yuan lower than the “Cultural Series” products, and over 2500 yuan lower than the “Aged Series.”
Maotai’s price has often deviated significantly between the official guidance price and the actual market transaction price, sometimes differing by more than double. This is mainly attributed to distributors capitalizing on the scarcity of Maotai to manipulate prices, giving Maotai financial attributes. However, this has also brought about a series of risks, including the continuous growth of social inventory and the challenge for ordinary consumers hoping to purchase Maotai at a fair price.
Since 2025, the price of Feitian Maotai has been on a downward trend. The wholesale prices for the 2025 vintage 53% 500ml Feitian Maotai successively fell below the 2000 yuan, 1900 yuan, 1800 yuan, 1700 yuan, and 1600 yuan marks, dropping to around the official guidance price by December, reported at 1510 yuan per bottle on December 11.
On December 12, 2025, the wholesale prices for the 2025 vintage 53% 500ml Feitian Maotai bottles for both the original box and loose bottles broke below the 1499 yuan official guidance price for the first time, reaching a new low since 2017.
This price adjustment marks the first time since 2013 that Feitian Maotai has shown a price inversion under normal market conditions, becoming a landmark event in the structural adjustment of the Baijiu industry.
Several liquor distributors have told mainland media that the recent price decreases are not sudden but a result of the market showing a continuous downward trend over the past month. Secondary wholesalers and retailers have lost confidence in Maotai prices, adopting a strategy of quick in-and-out trades and no longer stockpiling inventory. Some businesses that previously stockpiled the liquor have now focused on quickly turning over inventory. They predict that Maotai prices will have a hard time rebounding in the short term, further squeezing the pricing space for other famous liquors.
The head of a white liquor sales store with eight years of experience expressed that Maotai, which used to be a sure-profit item once acquired, has now become a “hot potato” in the hands of hoarders.
The Pacific Securities research report stated that the white liquor industry continues to seek a bottom under pressure from three aspects: fundamentals, pricing, and market expectations. The industry faces a dual challenge of high inventory and weak demand, with channel inventories high, distributor funding under pressure, and a decrease in traditional government and high-end business consumption scenarios, leading to a lack of real consumption momentum.