According to the Huafu Securities Research Report, Kweichow Moutai decided to raise the retail price of Feitian 53% vol500ml Kweichow Moutai on the iMoutai platform from 1,539 yuan/bottle to 1,639 yuan/bottle, and the sales contract price from 1,269 yuan/bottle to 1,369 yuan/bottle starting at 00:00 on July 18, 2026. The current price increase for Pu Fei is the company's second price increase for Pu Fei during the year, following March 31, 2026. This price adjustment is based on the “2026 Kweichow Moutai Marketed Operation Plan” and follows the basic principles of “on-going market, relative stability, adaptation of supply and demand, and balance between volume and price”, with the aim of maintaining market order. In the current round of the company's market-based reforms, “price” is the core main line. At present, it seems that a “small step fast run” price increase model has gradually been formed, and now it has reached the third stage. In terms of current market value, the company's corresponding dividend rate is above 4%, and the margin of safety for valuation and return is sufficient; fundamentals are now on a steady upward trend, and market-based reforms continue to bring positive changes beyond expectations, maintaining a “buy” rating.

According to the Huafu Securities Research Report, Kweichow Moutai decided to raise the retail price of Feitian 53% vol500ml Kweichow Moutai on the iMoutai platform from 1,539 yuan/bottle to 1,639 yuan/bottle, and the sales contract price from 1,269 yuan/bottle to 1,369 yuan/bottle starting at 00:00 on July 18, 2026. The current price increase for Pu Fei is the company's second price increase for Pu Fei during the year, following March 31, 2026. This price adjustment is based on the “2026 Kweichow Moutai Marketed Operation Plan” and follows the basic principles of “on-going market, relative stability, adaptation of supply and demand, and balance between volume and price”, with the aim of maintaining market order. In the current round of the company's market-based reforms, “price” is the core main line. At present, it seems that a “small step fast run” price increase model has gradually been formed, and now it has reached the third stage. In terms of current market value, the company's corresponding dividend rate is above 4%, and the margin of safety for valuation and return is sufficient; fundamentals are now on a steady upward trend, and market-based reforms continue to bring positive changes beyond expectations, maintaining a “buy” rating.