On October 13, the stock price of Guizhou Moutai Co., Ltd. (Moutai) closed at 1419.20 yuan (RMB, the same below) per share. Over the past month since September 15, the stock price of Moutai has fallen by more than 6%.
On September 15, Moutai’s closing price was reported at 1515.10 yuan per share. However, by October 13, the stock price of Moutai had dropped by nearly a hundred yuan.
According to news from The Paper on October 13, starting from the middle to late May this year, the stock price of Moutai has been declining from its peak of 1600 yuan per share, dropping below 1400 yuan at one point.
The decline in Moutai’s stock price has been attributed to the slow growth of Moutai’s net profit, with both operating revenue and net profit showing single-digit growth. According to the “Guizhou Moutai 2025 Interim Report” released by Moutai on August 13, in the first half of this year, Moutai’s total operating revenue was 91.094 billion yuan, a year-on-year increase of 9.16%; the net profit attributable to the parent company was 45.403 billion yuan, a year-on-year increase of 8.89%.
Data from the Wind information service provider shows that the single-digit growth rate of 9.16% in total revenue in the first half of this year is the first time since 2015. The net profit growth rate of 8.89% in the first half of the year is also the first time since 2021 to see single-digit growth, reaching a new low since 2015.
In the Baijiu (Chinese liquor) market, the selling price of Moutai liquor has also been continuously decreasing. Both the flagship product “Feitian Moutai” and the “Moutai 1935” priced at a thousand yuan have seen significant drops in prices. Particularly, “Moutai 1935” fell below 600 yuan per bottle in July, plummeting by 68.93% compared to its high of 1899 yuan per bottle.
According to the wholesale reference price disclosed by the third-party platform “Today’s Liquor Price,” on October 13, the 2025 “Feitian Moutai” in a 53% ABV/500ml full case dropped by 5 yuan compared to the previous day, priced at 1795 yuan per bottle; the loose bottle of 2025 Feitian Moutai fell by 5 yuan compared to the previous day, priced at 1765 yuan per bottle.
As of the closing of the A-share market on October 13 Beijing time, the stock price of Moutai was 1419.20 yuan per share, down by 0.76%, with a total market value of 1.78 trillion yuan.