Feitian Moutai rises across the board

On February 3rd, third-party platform “Today Liquor Prices” data showed that in addition, Feitian Moutai prices for 2026 and 2025 have all increased online. On February 3rd, the original box price for 2026 Feitian Moutai was 1,625 yuan per bottle, up 35 yuan from the previous day; the 2025 Feitian Moutai original box was priced at 1,640 yuan per bottle, up 20 yuan from the previous day.

One month after Moutai launched its market-oriented reform, the “pioneer” iMoutai has taken the lead.

On the evening of February 2nd, iMoutai’s official disclosed a set of key data: In January, the platform’s monthly active users exceeded 15.31 million, including 6.28 million newly registered users, over 1.45 million of whom purchased products, with more than 2.12 million completed orders. Among these, 53% by volume of 500ml Guizhou Moutai (commonly known as Feitian Moutai) had over 1.43 million completed orders.

Assuming all monthly active users participated in the purchase, this indicates that in January this year, the success rate of user purchase applications on iMoutai for a batch of Moutai products was less than 9.5%.

After iMoutai disclosed these figures on the evening of the 2nd, the market generally considered the results to be beyond expectations.

Feitian Moutai had 1.43 million transactions in January. During the three-day New Year holiday, consumers could purchase 1–12 bottles per transaction, later adjusted to 1–6 bottles per transaction. Based on this, the approximate transaction volume of Feitian Moutai ranged from over 670 tons to over 4,400 tons (rough estimate based on purchase limits, not actual data). Just within one month, this could generate tens of billions to over one hundred billion yuan in revenue.

This data far exceeds the same period in previous years. For comparison, iMoutai’s total revenue for the first three quarters of 2025 was close to 12.7 billion yuan.

Following the previous day’s rise, on the morning of February 3rd, after the market opened, Guizhou Moutai’s stock price rose again, initially up over 3%, ranking at the top of the liquor sector, then the increase narrowed to about 2%.

Over the past month, Moutai has shifted from primarily targeting B2B to a comprehensive B2C transformation. Initially, there was skepticism, but judging from the price performance of Feitian Moutai, it did not cause a drop in liquor prices; instead, there has been a recent slight rebound.

Guotai Haitong Securities believes that this Moutai reform has stimulated significant incremental demand, with many consumers becoming Moutai customers for the first time and showing strong willingness to open bottles. Moutai’s move to sell a lifestyle has effectively opened up market space.

To meet delivery demands, Moutai has increased logistics investment. Outside Guiyang, Moutai has recently added delivery warehouses in Nanjing and Beijing to shorten logistics cycles. According to iMoutai, taking Feitian Moutai as an example, currently 75% of orders can be received within 5 days of ordering, and 60% within 4 days.

At the same time, offline delivery is also steadily progressing. iMoutai states that more than 106,300 consumers have completed pickup at stores.

Well-known investor Duan Yongping once again expressed approval of Moutai’s reform this year on his personal account, believing that the decision to sell Feitian Moutai through iMoutai essentially carries zero business risk. He previously stated, “The timing of iMoutai is very good; everyone can see the real demand for Moutai. It’s not unreasonable for a family to consume one bottle of Moutai a year. iMoutai can solve channel issues.”

(Source: 21st Century Business Herald)