Kweichow Moutai’s share price broke through 400 yuan’s record high and its market value has reached half of Guizhou’s GDP.

　　In view of the phenomenon that the price of Moutai has risen too fast, Maotai Company has introduced measures to limit purchases and control prices. Beijing Youth Daily reporter learned yesterday that in the official mall of Maotai Group, 53-degree 500 ml flying Maotai is limited to two bottles per person, while some e-commerce companies show that they are out of stock. Like Moutai, Kweichow Moutai shares are sought after. Yesterday, the share price of Kweichow Moutai broke through 400 yuan and reached a record high, with a market value exceeding 500 billion yuan. Compared with the total GDP of Guizhou Province in 2016 of 1,173.4 billion yuan, the market value of Kweichow Moutai is about half of Guizhou’s GDP.

　　Survey: Maotai official website launched the purchase restriction policy.

　　On April 18th, in the official online shopping mall of Maotai Group, the price of ordinary 53-degree 500ml flying Maotai was 1199 yuan, but the notice on the page showed that only 60 bottles were restocked every day, and the purchase restriction policy was implemented, and each person was limited to 2 bottles, and the goods were delivered within 30 days after the payment was successful, and consumers were reminded to "make an urgent order carefully". In contrast, Moutai of the same specification is not restricted in the third-party sales platform. Although the price is higher, it is still in demand. The price of 53-degree flying Maotai in JD.COM Mall is 1299 yuan/bottle, but the sales status shows that it needs to be "reserved" and it is out of stock at present. In the large-scale liquor e-commerce platform, the price is higher, and the retail price is 1328 yuan. Some e-commerce companies offer a single bottle of 1428 yuan, and the discounted price is 1299 yuan.

　　Looking back on 2012, the price of Moutai once dropped to about 850 yuan per bottle, but with the recovery of high-end liquor market, in September 2016, the price of Moutai rose to 1080 yuan per bottle. At the beginning of April this year, its retail price exceeded 1400 yuan. It is worth noting that on some liquor e-commerce platforms, the price of Maotai vintage wine is higher. For example, in 2012, the price of a 53-degree 500 ml flying Maotai single bottle was 2199 yuan; In 2011, the price of each bottle was as high as 2799 yuan.

　　Analysis: The ex-factory price may be raised next year.

　　Li Baofang, general manager of Maotai Group and acting general manager of joint-stock company, has publicly stated that profiteering should not be allowed, and individuals should not be allowed to speculate maliciously, and Maotai should not sit idly by. On April 6th, Kweichow Moutai Sales Co., Ltd. issued a notice, planning to increase the supply of Maotai Zodiac wine in the Year of the Rooster. Previously, due to problems in the Chinese zodiac wine market in the Year of the Rooster, six large distributors and an e-commerce company were held accountable.

　　According to the analysis of Guohai Securities, the price of Maotai continues to increase, and it is expected to increase the ex-factory price in 2018. Affected by market demand and prosperity, the price of a batch of Maotai in the market is around 1,280 yuan, which is about the same as the ex-factory price in 460 yuan. This means that a group of dealers have a gross profit margin of 50% for each bottle of Moutai, which has deviated from the normal channel and reasonable profit space, which also shows that there is no pressure on Maotai to raise the ex-factory price in terms of demand.

　　For the reason why Maotai does not mention the ex-factory price, Guohai Securities believes that it mainly lies in public opinion and political pressure. From the current situation, due to limited supply, the price of Maotai will stabilize at a high level in 2017, and the market will recognize its value and price adaptability. Will gradually improve; In 2018, the company may choose to raise the ex-factory price when the time is ripe.

　　Market: The stock price broke through the 400 yuan mark.

　　Yesterday, Kweichow Moutai was a bright spot in the stock market. At 10: 30 in the morning, its share price broke through 400 yuan and reached a record high, with a market value exceeding 500 billion yuan. At the close, Kweichow Moutai closed at 404.65 yuan, up 2.24%. Weibo, a private equity tycoon, said that he was optimistic about Kweichow Moutai. "It is estimated that Maotai will have a chance to see 450 when the interim report and the third quarterly report come out, and there is a high probability of nearly 500 when the fourth quarterly report comes out. 600 in 2018 next year. "

　　The 2016 annual report of Kweichow Moutai shows that in 2016, the company achieved a total operating income of 40.155 billion yuan, a year-on-year increase of 20.06%; The net profit was 16.718 billion yuan, a year-on-year increase of 7.84%.

　　According to the latest statistics of china alcoholic drinks association, the overall performance of China’s liquor industry is outstanding. In 2016, there were 1,578 liquor enterprises above designated size, with a cumulative output of 13,583,600 kiloliters, and a cumulative sales income of 612,574 million yuan, an increase of 10.07% compared with the same period of last year, which was the first double-digit growth after the end of the "golden decade". Compared with the growth rate of 5.22% in the same period of 2015, the growth rate basically doubled; The accumulated total profit was 79.715 billion yuan, an increase of 9.24% compared with the same period of last year.

　　Text/reporter Zhao Xinpei